goon_retired_acc

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

> 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.


cryptocoin

spraveenitpro

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