BlackRock’s 12-Hour Ultimatum to Coinbase: Are Paper Bitcoins Real?
By Kapil Rajyaguru
BlackRock’s 12-Hour Bitcoin Reserves Ultimatum to Coinbase was recently reported. BlackRock, a solution provider, gave Coinbase 12 hours to process Bitcoin withdrawals. The problem sparked worries about whether Coinbase had enough “real” Bitcoin to establish all accounts.
It also tried to allay concerns about crypto exchanges providing “paper Bitcoin” or fraudulent Bitcoin claims. The world’s largest asset manager, BlackRock, avoids similar issues with its bitcoin (BTC) exchange-traded fund. If the cryptocurrency exchange site Coinbase meets these criteria, it may shadow the industry, cryptos, and payments by providing more information about its activities.
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