The crypto industry is undergoing massive turmoil. However, she is still talking about it. As the sector gradually recovers, Coinbase finds a way to get back in the saddle and BlackRock makes a surprise announcement!
BlackRock and Coinbase, a new target for bitcoin!
The crypto sector takes a little more space every day. While some people continue to view cryptocurrencies as doomed, bitcoin continues to receive sympathy. Since the creation of the BTC, its popularity has not diminished and the attacks of the regulators do not stop it.
Although the price of the crypto flagship has seen some problems in the past few months, the recovery has been slow and other assets are following suit. However, the announcement puts bitcoin back in the spotlight. If many people are promoting BTC, this announcement will undoubtedly strengthen the conviction of investors.
On August 4, BlackRock, the largest asset management company Notice its collaboration with Coinbase. The back? Allowing its institutional clients to transact in bitcoin (BTC). According to a blog post, joint customers of Coinbase and Aladdin, Blackrock’s investment management platform, will be entitled to the capabilities of reportingprime brokerage and crypto trading.
Therefore, institutional customers will deploy the features in phases. With access granted through Coinbase Prime, they will continue to scale the integration of the platform.
New resources for the crypto exchange?
The news is a boost for bitcoin, BlackRock and Coinbase alike. In fact, if the asset management company is just benefiting from the institutions’ enthusiasm for the crypto sector, the stakes are very different for Coinbase. The crypto exchange has been struggling for a few weeks.
After losing its spot to Binance, the platform is facing serious charges from the SEC. As we know, controllers do not release their prey as soon as it is in its claws. Ripple is a great example. While we expected to see the decline of the crypto exchange, their partnership with BlackRock breathes new life into Coinbase.
At a time when cryptocurrencies are just starting to swing green, the platform could only attract more institutional money. This could not only boost the crypto sector in general, but also open a recovery path for Coinbase.
BlackRock surprises investors. As Ethereum began to skyrocket, this pairing could rebalance the forces. In fact, if bitcoin has experienced moments of weakness, it is ready to recover. However, the big winner in this story will undoubtedly be Coinbase. Between regulatory jolts, intense competition and falling markets, the exchange is going through a tough time. However, everything could be back in place soon.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!
The world is changing and adaptation is the best weapon to survive in this turbulent world. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and express an area of interest to me, there is nothing better than writing articles that are informative and entertaining at the same time.