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BlackRock will now become the primary cash reserves manager of USD Coin (USDC)www.forbes.com/sites/ninabambysheva/2022/04/13/blackrocks-newest-investment-paves-the-way-for-digital-assets-on-wall-street/
28 sats \ 6 comments \ @CypherPoet 14 Apr 2022 bitcoin
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1 sat \ 1 reply \ @goon_retired_acc 14 Apr 2022
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1 sat \ 0 replies \ @zuspotirko 14 Apr 2022
lol
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1 sat \ 1 reply \ @cryptocoin 14 Apr 2022
Previously, the asset manager was credited with having exposure to crypto through a 7.3% stake in MicroStrategy, the largest corporate holder of bitcoin with nearly $5 billion worth of the cryptocurrency, and a few dozen contracts of CME bitcoin futures [...]. But those investments were made through BlackRock’s subsidiaries or funds that manage clients’ assets.
The deal is also a major nod of approval to USDC. Its market capitalization has swollen from $4 billion at the beginning of last year to over $50 billion today but has yet to catch up with Tether’s $82.5 billion.
Now, with BlackRock’s support, the stablecoin hopes to find a footing as the go-to digital asset for traditional financial institutions and investors.
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0 sats \ 0 replies \ @cryptocoin 14 Apr 2022
Here's an archive of the article, which may be easier to read than what is on the Forbes website:
BlackRock’s Newest Investment Paves The Way For Digital Assets On Wall Street https://archive.ph/gQraa
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0 sats \ 0 replies \ @spraveenitpro 14 Apr 2022
WEF very happy!!
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0 sats \ 0 replies \ @TheBTCManual 14 Apr 2022
I guess this is to bring stablecoins under regulation or at least have 1 that its fully compliant and allow that USDC to grow into the defacto stablecoin instead of building a new CBDC or the building blocks
I wonder if this means they;ll go after competition or outlaw algo stable coins
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