[Cryptocurrency exchange Coinbase has announced that it has reached “a crucial milestone” in Canada by obtaining registration as a restricted dealer in the country. “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy,” Coinbase noted.]

Coinbase Reaches 'Crucial Milestone' in Canada With Restricted Dealer Registration

Cryptocurrency exchange Coinbase has announced that it has reached “a crucial milestone” in Canada by obtaining registration as a restricted dealer in the country. “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy,” Coinbase noted.

‘Crucial Milestone in Coinbase’s Journey in Canada’

Crypto exchange Coinbase (Nasdaq: COIN) announced last week that it has obtained registration as a restricted dealer in Canada. “Today we’re excited to share a crucial milestone in Coinbase’s journey in Canada,” the crypto exchange wrote, elaborating:

Coinbase has officially been registered as a Restricted Dealer by the Canadian Securities Administrators (CSA). This makes Coinbase the largest and first international cryptocurrency exchange registered in Canada.

“This milestone, following our formal launch in August 2023, reinforces our commitment to Canada as a Go Deep market,” Coinbase added. The crypto firm outlined the specific requirements it must meet as a restricted dealer in Canada here.

Coinbase also shared the results of a new survey it conducted in partnership with Angus Reid, which found that “72% of Canadians think that the regulation of cryptocurrency exchanges is important,” the crypto firm stated. “Nearly a third of Canadians (29%) said they would be more inclined to buy cryptocurrency if there was more regulation in the industry.”

Moreover, among those who did purchase cryptocurrencies, “nearly half (49%) said they were driven by their curiosity in digital assets, while 39% said they wanted to diversify their investments and just over half (53%) said they were interested in investing to make money,” the exchange detailed.

Coinbase explained that its Canadian commitment “stems from a significant opportunity for the cryptocurrency market to grow and thrive in Canada.” The crypto platform emphasized: “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy.” Coinbase noted:

Canada is Coinbase’s largest tech hub outside the US.

Source: https://news.bitcoin.com/coinbase-reaches-crucial-milestone-in-canada-with-restricted-dealer-registration/

[Monochrome Asset Management, an Australian investment management firm, has transferred its bitcoin exchange-traded fund (ETF) application to Cboe Australia. This move aligns with Monochrome Asset Management’s objective of broadening its footprint in Asian markets.]

Australian Asset Management Firm Transfers Bitcoin ETF Application to Cboe Australia

Monochrome Asset Management, an Australian investment management firm, has transferred its bitcoin exchange-traded fund (ETF) application to Cboe Australia. This move aligns with Monochrome Asset Management’s objective of broadening its footprint in Asian markets.

Monochrome’s Commitment to Investors Evident in Application Transfer

Monochrome Asset Management, an investment management firm based in Australia, announced on April 5 that it had transferred its application for its flagship bitcoin exchange-traded fund (ETF) to Cboe Australia. The firm views this move as a testament to its “commitment to providing investors with secure, accessible, and innovative investment products.”

In a statement, Monochrome expressed that moving the application to Cboe Australia, an alternative trading platform to the Australian Securities Exchange, is in line with its objective of expanding its presence in Asian markets.

Jeff Yew, CEO of Monochrome, commented on the firm’s application to Cboe Australia, saying:

We are proud to work with Cboe Australia to bring Monochrome’s new bitcoin ETF to market, expanding the investment universe for Australian Investors. As leaders in digital assets globally, their established track record and commitment to innovation and safe market accessibility aligns with Monochrome’s strategic objectives.

Yew added that the quotation from Cboe would enrich our product offering and cement Monochrome’s foothold in the Asia-Pacific region. According to the statement, Monochrome’s Bitcoin ETF is the only one in Australia that permits the direct holding of Bitcoin.

According to a report, Australian firms seeking to list a crypto ETF must first receive approval from the Australian Securities & Investments Commission (ASIC) before applying for a listing on an exchange. Reportedly, Monochrome has been given the green light by the ASIC and is now awaiting the decision from Cboe Australia.

Meanwhile, Yew reportedly said he expects Cboe Australia to make its decision sometime before mid-year.

Source: https://news.bitcoin.com/australian-asset-management-firm-transfers-bitcoin-etf-application-to-cboe-australia/

[Cobra, the pseudonymous owner and operator of Bitcoin.org, has predicted the next divide that will plague the Bitcoin ecosystem in the coming times. Cobra explained in social media that this conflict will face ossificationists (people that want Bitcoin to stay as it is), and improvers, who want Bitcoin to improve its focus and functionality.]

Bitcoin.org Owner Cobra Predicts Next Bitcoin 'Great Divide'

Cobra, the pseudonymous owner and operator of Bitcoin.org, has predicted the next divide that will plague the Bitcoin ecosystem in the coming times. Cobra explained in social media that this conflict will face ossificationists (people that want Bitcoin to stay as it is), and improvers, who want Bitcoin to improve its focus and functionality.

Cobra Predicts New Bitcoin Conflict

Cobra, the pseudonymous owner of the Bitcoin.org domain, has anticipated what might be the next conflict in the Bitcoin arena. According to him, a conflict that will face two sides to change the face of Bitcoin’s scope and focus is looming and might develop soon.

Cobra believes that this new battle for Bitcoin will face a party that seeks to maintain Bitcoin as it is and another that will seek to evolve Bitcoin to include more features to enhance Bitcoin’s features and functionality.

He classified the first party as “ossificationists,” striving to enable the solidity of the network through stability; and the second party as “improvers,” chasing the evolution and improvement of the network through constant change.

Cobra did not specify if he favored one side or the other. He stated:

Do we keep Bitcoin stable and secure, and take no risks with further soft forks, or do we continue to tinker and make changes to keep improving Bitcoin?

However, he did state that taking the middle road and trying to experiment with Bitcoin while at the same time striving to maintain the core network unchanged would not work in the long road. “The failure of those experimental components would undermine the entire system. Sure, some protocols can have quirky parts, but not money,” he stressed.

Cobra recognized that ossification would also present problems, as not improving had associated risks. “For example, if there are any cryptographic weaknesses discovered they would need to be fixed,” he detailed.

Before, he had alerted about a leadership crisis in Bitcoin, acknowledging that Bitcoin needed “some kind of revival” because it lacked a unified vision.

Source: https://news.bitcoin.com/bitcoin-org-owner-cobra-predicts-next-bitcoin-great-divide/

[A group of Paraguayan lawmakers is spearheading a bill that seeks to enact a temporary ban on cryptocurrency mining operations in Paraguay for 180 days or until the industry’s activities are properly regulated. The bill alleges that 28% of the energy losses of the National Power Administration (ANDE) correspond, in part, to illegal bitcoin mining connections.]

Paraguayan Lawmakers Introduce Bill to Temporarily Pull the Plug on Bitcoin Mining Operations

A group of Paraguayan lawmakers is spearheading a bill that seeks to enact a temporary ban on cryptocurrency mining operations in Paraguay for 180 days or until the industry’s activities are properly regulated. The bill alleges that 28% of the energy losses of the National Power Administration (ANDE) correspond, in part, to illegal bitcoin mining connections.

Paraguayan Bill Seeks To Enact Temp Ban On Crypto Mining Operations

Paraguay is shifting its view on cryptocurrency and cryptocurrency mining. A group of Paraguayan lawmakers introduced a bill that seeks to temporarily ban cryptocurrency mining operations in the country due to its intensive use of electric energy.

The bill, introduced to the National Congress on April 3, proposes enacting a 180-day ban on the operation and installation of cryptocurrency mining farms and other operations involving cryptocurrency assets. This ban could be extended until a law that regulates these activities is enacted.

In the first article, the document details the activities falling under its scope. It states:

The creation, conservation, storage and commercialization of virtual assets or crypto assets, cryptocurrencies and the installation of crypto mining farms in Paraguayan territory are temporarily prohibited.

Illegal cryptocurrency mining operations have originated significant economic losses for the National Power Administration (ANDE). According to the bill, only in the department of Alto Parana, these operations could cause losses of $60 million in 2024. Lawmakers have also linked recent energy blackouts to illegal cryptocurrency mining operations, which impact the lives of Paraguayans.

The suspension of cryptocurrency mining activities would guarantee fair access to power for all Paraguayans, allowing the country to adequate its grid to manage this intensive power draw. The bill argues that suspending this activity until “an adequate power supply can be guaranteed and can handle this additional demand without interruptions in service to other users” is the decision to make.

If the bill is passed, legal miners in the country will face an uncertain destiny. Joaquin Morinigo, founder and CEO of crypto consulting company Cryptopy, revealed that formal mining operators had paid the ANDE over $30 million to guarantee the power delivery to 5 unnamed sites. Worried about the outcome, he declared:

If the law is approved, what will happen to contracts and guarantees? Does ANDE have the capacity to return the millions of USD in guarantee? What will happen to the employees of mining companies that operate legally?

Global bitcoin mining companies like Bitfarms and Pow.re have reported having commenced construction of data centers in Paraguay. If the bill gets passed, these operations could be affected.

In March, ANDE, the Supreme Court, and the Department of Justice convened on a joint framework to deal with power theft linked to illegal cryptocurrency mining.

Source: https://news.bitcoin.com/paraguayan-lawmakers-introduce-bill-to-temporarily-pull-the-plug-on-bitcoin-mining-operations/

[In March, bitcoin miners amassed an unprecedented level of revenue not seen in the previous 12 months, hitting a high of $2.01 billion from rewards and transfer fees. Of this total, $85.81 million was earned from transaction fees over the past month.]

Bitcoin Miners' Earnings Hit Record $2 Billion in March Ahead of Halving Event

In March, bitcoin miners amassed an unprecedented level of revenue not seen in the previous 12 months, hitting a high of $2.01 billion from rewards and transfer fees. Of this total, $85.81 million was earned from transaction fees over the past month.

Historic Month for Bitcoin Miners — Income Peaks at $2 Billion

As we edge closer to the halving event, bitcoin (BTC) miners have seen a significant increase in their earnings, both from collected rewards and transfer fees. March set a new benchmark as the month with the highest revenue in the last year.

Moreover, the milestone was also marked as the highest record month for miner income in the network’s lifetime. According to the latest figures, miners raked in $2.01 billion, with $85.81 million of this total coming from transaction fees. The previous peak before March 2024 was observed in May 2021, when earnings hit $1.74 billion.
Bitcoin Miners' Earnings Hit Record $2 Billion in March Ahead of Halving Event
Throughout the past month, the hashprice consistently exceeded the $100 per PH/s daily mark. The term hashprice denotes the anticipated daily value of 1 PH/s of hashing capacity.

Throughout March, bitcoin mining pools successfully mined 4,412 blocks, with Foundry USA leading the charge by uncovering 1,312 of those blocks. This achievement indicates that Foundry was responsible for approximately 29.74% of the network’s total during the month.

Antpool came in second, discovering 989 blocks, which equates to 22.42% of the total blocks mined in March. Hot on the heels of Foundry and Antpool were Viabtc, F2pool, and Binance Pool respectively. As the month draws to a close, data reveals that 54 mining entities actively contribute hashrate to the network.

Currently, the Bitcoin network’s hashrate is maintaining a steady pace at 606 exahash per second (EH/s), with a noticeable increase of 20 EH/s over the last month. Bitcoin’s hashprice, which estimates the daily value of one petahash per second (PH/s) of mining power, consistently stayed above the $100 mark throughout the month.

Initially, on March 1, the hashprice started at roughly $103.24 and climbed to $110.39 by the end of the month, as reported by Luxor’s hashrateindex.com. Notably, on March 13, the hashprice for 1 PH/s per day soared past the $120 range. At the time of writing, at block height 837,246, there’s approximately 2,754 blocks left until the fourth halving.

Source: https://news.bitcoin.com/bitcoin-miners-earnings-hit-record-2-billion-in-march-ahead-of-halving-event/

[Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Brazilian stock exchange will offer bitcoin futures contracts, Paraguay advances measures to curb illegal bitcoin mining operations, and Worldcoin gets a legal victory in Chile.]

Latam Insights: Brazil to Offer Bitcoin Futures, Paraguay Battles Mining, Worldcoin Wins in Chile

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Brazilian stock exchange will offer bitcoin futures contracts, Paraguay advances measures to curb illegal bitcoin mining operations, and Worldcoin gets a legal victory in Chile.

Brazilian Stock Exchange B3 to List Bitcoin Futures

The Brazilian Securities and Exchange Commission (CVM) has approved a bitcoin futures contract to be listed in B3, the Brazilian stock exchange. While the launch date is still not confirmed, local sources state that the instrument might be available for trading on April 17.

The contract conditions establish that the Nasdaq Bitcoin Reference Price (NQBTC) will be taken as a reference for settlements, and each contract will have a value of 0.1 BTC in reais, having a monthly expiration period.

While several crypto ETF products are already available for B3 investors, this new instrument is part of the institution’s expansion in the cryptocurrency market, giving investors diversification options in this field.

In an informative note, Felipe Gonçalves, superintendent of interest and currency products at B3, stated:

This launch meets the demand for a derivative product that allows protection from bitcoin price fluctuations or directional exposure to the asset, maintaining the security of operating in the Brazilian exchange environment.

Paraguay Gears Up to Battle Illegal Bitcoin Mining Operations

The government of Paraguay is preparing to fiercely fight illegal cryptocurrency mining operations. In a meeting held last week between ANDE, the National Power Administration, the Supreme Court, and the Department of Justice, it was agreed to expedite several actions to combat illegal mining operations swiftly.

The three institutions established an inter-institutional partnership that will allow the Department of Justice to deal with these cases easily, incorporating several aspects detailing the persecution and punishment of the actors in the theft of electrical energy.

More so, the president of the Supreme Court, Dr. Luis María Benítez Riera, stated that the country’s courts will deal with these cases quickly, giving warranties that due process would be followed.

Worldcoin Gets Legal Victory in Chile

Worldcoin will be able to keep operating in Chile, at least for now. Chilean courts rejected a complaint seeking to block Worldcoin operations in the country, explaining that it found no legal wrongdoing with Worldcoin’s biometric data acquisition activities.

In its ruling, the court stated:

No facts are described that may constitute a violation of constitutional guarantees that can be protected in this way.

Kamanau Foundation’s Moises Sanchez, who introduced the legal complaint, detailed he would appeal this decision before the Chilean Supreme Court. The institution will have to decide if the claims made in the complaint are admissible and considered a crime under Chilean law.

Source: https://news.bitcoin.com/latam-insights-brazil-to-offer-bitcoin-futures-paraguay-battles-mining-worldcoin-wins-in-chile/

[Bitwise Asset Management believes that “bitcoin is in a raging bull market” in the long term. Its chief executive anticipates the upcoming bitcoin halving to be “the most impactful we’ve seen.” The firm’s chief investment officer explained that global wealth managers allocating just 1% of their portfolios to bitcoin would mean about $1 trillion of inflows into the space.]

Bitwise Sees 'Raging' Bitcoin Bull Market — Expects April Halving to Be 'the Most Impactful We've Seen''

Bitwise Asset Management believes that “bitcoin is in a raging bull market” in the long term. Its chief executive anticipates the upcoming bitcoin halving to be “the most impactful we’ve seen.” The firm’s chief investment officer explained that global wealth managers allocating just 1% of their portfolios to bitcoin would mean about $1 trillion of inflows into the space.

‘We Believe Bitcoin Is in a Raging Bull Market’

The CEO and CIO of Bitwise Asset Management discussed bitcoin outlook and the upcoming halving event this week. Bitwise launched a spot bitcoin exchange-traded fund (ETF) in early January after the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs.

In an excerpt from his weekly memo to investment professionals, Bitwise CIO Matt Hougan noted that in the short term, “bitcoin seems likely to chop sideways on small changes in sentiment.” However, he emphasized:

Long-term, we believe bitcoin is in a raging bull market.

“Not only is it up nearly 300% in the past 15 months but there are strong reasons to think that will continue,” he clarified.

“The January launch of spot bitcoin ETFs opened up the crypto market to investment professionals in a major way for the first time ever,” he explained. “These investors control tens of trillions of dollars — globally, the best estimate is over $100 trillion — and they are just starting to move into crypto. This is a process that will take years, not months.”

He opined: “Imagine global wealth managers allocate just 1% of their portfolios to bitcoin on average … a 2.5% allocation to bitcoin has enhanced a traditional 60/40 portfolio’s risk-adjusted returns in every three-year period in bitcoin’s history.” Hougan continued:

A 1% allocation across the board would mean ~$1 trillion of inflows into the space.

Hunter Horsley, cofounder and CEO of Bitwise Asset Management, explained on social media platform X this week why he believes the upcoming bitcoin halving will be the most impactful one so far.

“The April 2024 Bitcoin halving may be the most impactful we’ve seen,” he wrote. “Why? The last Bitcoin halving, 2020, bitcoin was at ~$9,000. So the supply reduction in $ terms was ~$9M a day, and ~$3B a year.” The executive noted:

This halving with bitcoin ~$70,000, it will be >3x greater in $ terms: ~$32M a day and ~$11B a year. A much larger reduction of natural selling, at the same time as we are seeing rising demand.

Source: https://news.bitcoin.com/bitwise-sees-raging-bitcoin-bull-market-expects-april-halving-to-be-the-most-impactful-weve-seen/

[Rich Dad Poor Dad author Robert Kiyosaki has urged investors to ditch the U.S. dollar and buy bitcoin alongside gold and silver. He warned that “baby boomers’ retirements are going broke as paper assets crash.” The famous author stressed: “I do not trust anything that can be printed.”]

Robert Kiyosaki Urges Ditching US Dollar for Bitcoin — Warns Boomers' Retirements Going Broke as Paper Assets Crash

Rich Dad Poor Dad author Robert Kiyosaki has urged investors to ditch the U.S. dollar and buy bitcoin alongside gold and silver. He warned that “baby boomers’ retirements are going broke as paper assets crash.” The famous author stressed: “I do not trust anything that can be printed.”

Robert Kiyosaki’s Latest Warnings and Advice

The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the risk of holding U.S. dollars, particularly for baby boomers as “paper assets crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki wrote on social media platform X Friday: “Boomers to go bust? Another giant bank in China went bust. Why? This time it’s commercial real estate, not residential going bust. FYI. China has the three biggest banks in the world.”

He cautioned: “The same is happening in U.S. as commercial real estate, specifically office buildings go bust.” He then explained how the commercial real estate market affects baby boomers, stating: “REITS: Real Estate Investment Trusts….a.k.a. Mutual fund ETFs [exchange-traded funds] for real estate. Boomer retirement plans are filled with these fake assets.” The renowned author cautioned:

Boomers retirements are going broke as paper assets crash. Regardless of your age it’s time to get out of fake assets, including fiat, dollars and buy real gold, silver, and real bitcoins. I do not trust anything that can be printed.

The Chinese property sector is experiencing a crisis that began with Evergrande Group’s default in 2021, leading to financial troubles for other major developers. A Hong Kong court ordered Evergrande’s liquidation in January. China’s minister of housing and urban-rural development stated earlier this month that insolvent companies should go bankrupt or be restructured according to the law and market principles.

Kiyosaki is a vocal critic of fiat currencies, calling them “fake money” and likening them to “giant Ponzi schemes.” In contrast, he views gold and silver as “God’s money” and sees bitcoin as “people’s money.” He recently stated that bitcoin is a “perfect asset at the right time.”

The acclaimed author predicts a BTC surge to $100,000 by September, fueled by the upcoming halving in April. He also believes that BTC is headed for $300K this year. Kiyosaki doubled down on his bitcoin optimism this month, urging investors to buy as much BTC as they can afford before the biggest bubble in history bursts, wiping out baby boomers’ retirement plans. He additionally warned of a deepening banking crisis, another war, and the dangers of central bank digital currencies (CBDCs) for individual privacy.

Source: https://news.bitcoin.com/robert-kiyosaki-urges-ditching-us-dollar-for-bitcoin-warns-boomers-retirements-going-broke-as-paper-assets-crash/

[Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has significantly increased its bitcoin holdings, which have now surpassed 252,011 BTC, representing an approximate notional value of $18 billion. This substantial increase reflects a stronger-than-anticipated influx of retail investor demand, exceeding even the CEO’s initial expectations.]

Blackrock Spot Bitcoin ETF's Holdings Soar Past 252K BTC — CEO Says He's 'Pleasantly Surprised' by Retail Demand

Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has significantly increased its bitcoin holdings, which have now surpassed 252,011 BTC, representing an approximate notional value of $18 billion. This substantial increase reflects a stronger-than-anticipated influx of retail investor demand, exceeding even the CEO’s initial expectations.

Blackrock CEO Larry Fink: ‘I’m Pleasantly Surprised’

Blackrock, the world’s largest manager, has significantly increased the BTC holdings for its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT).

The Ishares Bitcoin Trust currently holds 252,011.40930 BTC, representing an approximate notional value of nearly $18 billion.
Blackrock Spot Bitcoin ETF's Holdings Soar Past 252K BTC — CEO Says He's 'Pleasantly Surprised' by Retail Demand
Ishares Bitcoin Trust’s BTC holdings as of the last day of trading this week. Source: Ishares’ website.

Blackrock’s CEO Larry Fink said this week that he’s “very bullish on the long-term viability of Bitcoin.” Noting that the Ishares Bitcoin Trust “is the fastest growing ETF in the history of ETFs” and “nothing has gained assets as fast as IBIT in the history of ETFs,” the executive shared:

I’m pleasantly surprised and I’d never have predicted it before we filed it that we were going to see this type of retail demand.

The U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs, including IBIT, on Jan. 10. Ten of them began trading the next day. The last one, Hasdex Bitcoin ETF, which converted from a bitcoin futures ETF, began trading this week.

Robert Mitchnick, Blackrock’s head of digital assets, recently emphasized that for the firm’s clients, “bitcoin is overwhelmingly the number one priority.” He further revealed, “And then a little bit Ethereum, and very little everything else.”

Source: https://news.bitcoin.com/blackrock-spot-bitcoin-etfs-holdings-soar-past-252k-btc-ceo-says-hes-pleasantly-surprised-by-retail-demand/

Hey guys,

Fulcrum SPV server now has an awesome website (90s style  ) https://fulcrumserver.org/

If you're operating Fulcrum: Is there any information that should be added to this page?

If you have wishes for features or if you want support for an additional cryptocurrency you can contact the dev and he's certainly open to prioritize requests if there is some incentive (donations).

[The price of bitcoin saw a significant fluctuation after remaining fairly consolidated over the past two days. After bulls managed to see bitcoin’s price rise to $71,754, the value dropped to a low of $68,557 per unit shortly after reaching the daily high.]

$20 Million in Bitcoin Long Positions Liquidated as Price Tumbles From Intraday High

The price of bitcoin saw a significant fluctuation after remaining fairly consolidated over the past two days. After bulls managed to see bitcoin’s price rise to $71,754, the value dropped to a low of $68,557 per unit shortly after reaching the daily high.

Liquidations Rise Following Bitcoin Price Drop

Over the past 48 hours, bitcoin (BTC) has been in a consolidated pattern without much fluctuation. On Wednesday, March 27, 2024, that changed when the price spiked at around 9:15 a.m. Eastern Time and ran up to a high of $71,754 per coin. The bulls could neither hold the price in that range nor surpass the price height. 15 minutes later the price was in a freefall sliding below the $69,000 range to a low of $68,557.


Bitcoin chart by Tradingview
The price took a 2.5% hit during that hour, as it dropped from the $71,754 intraday high. Presently, BTC’s market capitalization is around $1.37 trillion and the leading crypto asset witnessed $33.28 billion in global trade volume on Wednesday. The price drop managed to liquidate $20.7 million in bitcoin (BTC) long positions and $13.03 million in ETH long positions were wiped out as well.

One-hour figures show across the entire crypto economy, $55.44 million in long positions were liquidated. At the same time, short positions caught in the rebound saw $8.31 million wiped out. Bitcoin is down 6% lower than its all-time price high recorded on March 14, 2024, or roughly 13 days ago. Moreover, there are approximately 24 days left until the upcoming Bitcoin block reward halving event.

Source: https://news.bitcoin.com/20-million-in-bitcoin-long-positions-liquidated-as-price-tumbles-from-intraday-high/

[The Nasdaq-traded company specializing in bitcoin mining, Bitdeer, has unveiled its strategy to boost its overall hashrate by an additional 3.4 exahash per second (EH/s) through the deployment of its proprietary Sealminer A1 mining devices. These advanced rigs are slated for setup within Bitdeer’s mining facilities located in Texas and Norway, targeting the latter half of the year for completion, specifically in the third and fourth quarters.]

Bitdeer to Boost BTC Mining Capacity With Proprietary Sealminer A1 Rigs, Eyeing 46 EH/S Milestone by 2025

The Nasdaq-traded company specializing in bitcoin mining, Bitdeer, has unveiled its strategy to boost its overall hashrate by an additional 3.4 exahash per second (EH/s) through the deployment of its proprietary Sealminer A1 mining devices. These advanced rigs are slated for setup within Bitdeer’s mining facilities located in Texas and Norway, targeting the latter half of the year for completion, specifically in the third and fourth quarters.

Bitdeer to Deploy Sealminer A1 Bitcoin Mining Rigs

In the first week of March, Bitdeer (Nasdaq: BTDR), made headlines by introducing its proprietary cryptocurrency mining processor, the SEAL01, utilizing a cutting-edge 4-nanometer (nm) process. On Tuesday, the publicly traded mining entity disclosed its ambition to augment its hashrate by 3.4 EH/s this year, courtesy of its newly minted Sealminer A1 units.

“The company intends to install its own recently announced SEALMINER A1 miners at its mining datacenters in Rockdale, Texas in the United States; and, Norway in Q3 and Q4 2024 to accomplish this initial 3.4 EH/s expansion,” the mining business disclosed. “Bitdeer will add approximately 4.8 EH/s of [hashrate] and retire 1.4 EH/s of older mining rigs. This expansion is expected to grow the total proprietary [hashrate] from 8.4 EH/s to approximately 11.8 EH/s.”

Bitdeer’s growth and development of proprietary mining equipment coincide with the broader mining sector’s preparations for the upcoming fourth halving event. The industry is witnessing a significant influx of new machinery, extensive expansion of facilities, and the redistribution of older units to areas offering lower electricity costs. The mining firm also projects a series of expansions to its overall hashrate that is slated to continue to the end of 2025.

The firm said that it anticipates a potential increase of 30 to 40 EH/s in its mining operations by 2025, alongside the replacement of roughly 7 EH/s of older mining rigs with more advanced models. This strategy is expected to net an additional 23 EH/s of hashrate across existing and in-development data centers. Bitdeer forecasts that, by the close of 2025, the cumulative hashrate managed could surpass 46 EH/s.

Source: https://news.bitcoin.com/bitdeer-to-boost-btc-mining-capacity-with-proprietary-sealminer-a1-rigs-eyeing-46-eh-s-milestone-by-2025/

[This week, the publicly traded mining company Marathon Digital Holdings unveiled new firmware and a control board designed to enhance the efficiency of bitcoin mining rigs. Marathon revealed it has been developing this technology for about a year.]

Marathon Introduces Custom Firmware and Control Board for Enhanced Bitcoin Mining Operations

This week, the publicly traded mining company Marathon Digital Holdings unveiled new firmware and a control board designed to enhance the efficiency of bitcoin mining rigs. Marathon revealed it has been developing this technology for about a year.

Marathon Releases Custom Firmware and MARA UCB 2100 Control Board

On March 25, 2024, Marathon (Nasdaq: MARA) announced that it was launching new firmware called MARAFW and a control board dubbed the MARA UCB 2100. MARAFW is custom firmware designed to optimize chip settings in bitcoin application-specific integrated circuit (ASIC) mining rigs. Optimizations include increasing hashrate, auto-tuning and the manual customization of settings.

“[The firmware] provides options for overclocking to assist in boosting bitcoin production or underclocking for improved efficiency,” Marathon’s announcement detailed. “Additionally, MARAFW includes intelligent thermal protection to defend miners against overheating, thereby protecting their longevity. MARAFW is compatible with the majority of stock control boards, as well as Marathon’s MARA UCB 2100,” the company added.

Marathon Introduces Custom Firmware and Control Board for Enhanced Bitcoin Mining Operations
Marathon’s MARA UCB 2100
MARA UCB 2100, a proprietary control board crafted internally by Marathon, comes pre-equipped with Marathon’s firmware – MARAFW. This control board facilitates support for a wide range of bitcoin mining rigs and claims to ensure compatibility with numerous mining pools. “One of Marathon’s key differentiators is its vertical tech stack, and for the first time, we are providing the broader mining community with an opportunity to experience some of the proprietary technologies that set Marathon apart,” Fred Thiel, Marathon’s chairman and CEO stated.

Marathon isn’t pioneering the concept of bespoke firmware; several entities have already engineered solutions to enhance the efficiency of mining apparatus. For instance, Braiins has introduced its own tailored firmware, Braiins OS+, which enables individual chip tuning to optimize both the hashrate and power efficiency of bitcoin ASIC units. The company claims that Braiins OS+ empowers miners to refine their ASIC miners’ performance, boost efficiency, and mine across various pools, all while slashing data transmission between the mining farm and the pool by 95%.

Marathon is confident that its latest offerings will achieve similar successes and is presently deploying MARAFW across its extensive fleet of over 200,000 bitcoin mining rigs. Following the favorable outcomes from these preliminary deployments, Marathon disclosed that it is making both MARAFW and MARA UCB 2100 available to the wider bitcoin mining industry. Moreover, Marathon has revealed that it has already completed sales of MARAFW and MARA UCB2100 to various enterprise customers.

“With MARAFW and MARA UCB 2100, we have developed a unique set of complimentary products that we believe can help miners better navigate the upcoming halving and beyond. We invite all parties who are interested in mining like Marathon to contact us and test some of the unique technologies that we are developing to improve profitability, efficiency, and stability,” Thiel stated in his closing remarks of the announcement.

Source: https://news.bitcoin.com/marathon-introduces-custom-firmware-and-control-board-for-enhanced-bitcoin-mining-operations/

[Global investment bank JPMorgan has cautioned that bitcoin is still overbought despite the crypto’s recent price decline. JPMorgan’s analysts expect continued selling pressure on bitcoin as the halving approaches, “particularly against a positioning backdrop that still looks overbought despite the past week’s correction.”]

JPMorgan: Bitcoin Still Overbought Despite Price Drop

Global investment bank JPMorgan has cautioned that bitcoin is still overbought despite the crypto’s recent price decline. JPMorgan’s analysts expect continued selling pressure on bitcoin as the halving approaches, “particularly against a positioning backdrop that still looks overbought despite the past week’s correction.”

JPMorgan: ‘Bitcoin Remains in Overbought Territory’

JPMorgan’s analysts, led by global strategist Nikolaos Panigirtzoglou, warned in a Thursday note that bitcoin remains in “overbought territory” despite the cryptocurrency’s recent price decline. This suggests that the price of BTC could fall further.

By examining two metrics, JPMorgan’s futures position proxies and the price premium of bitcoin futures compared to the spot price, the analysts explained:

Both metrics indicate that bitcoin remains in overbought territory despite the sharp correction over the past week.

JPMorgan further warned that the recent slowdowns in spot bitcoin exchange-traded fund (ETF) inflows cast doubt on the market’s optimistic prediction of year-end price hikes. While hopes were high for sustained demand fueled by bitcoin ETFs and the upcoming Bitcoin halving, these new figures suggest the flow of funds into spot ETFs might not be as continuous as some anticipated.

After weeks of inflows, 10 spot bitcoin ETFs that began trading in early January saw money flow out last week as Grayscale’s bitcoin trust (GBTC) continued to see significant outflows. Meanwhile, nine spot bitcoin ETFs, excluding Grayscale’s GBTC, accumulated  $1.3 billion in BTC in six days.

Regarding the future price of bitcoin, the JPMorgan analysts added:

As we approach the halving event, this profit-taking is more likely to continue, particularly against a positioning backdrop that still looks overbought despite the past week’s correction.

Last month, JPMorgan issued a bearish warning, predicting a drop in bitcoin’s price to $42,000 after the April halving. The bank also downplayed the impact of the halving and upcoming Ethereum upgrade, suggesting the market has already factored these events in. Earlier this month, Panigirtzoglou said: “It would be unrealistic to expect bitcoin to match gold within investors’ portfolios in notional amounts.” Meanwhile, JPMorgan CEO Jamie Dimon remains a crypto skeptic, declaring this month: “I won’t personally ever buy a bitcoin.”

Source: https://news.bitcoin.com/jpmorgan-bitcoin-still-overbought-despite-price-drop/

[A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing” alleges these assets present “risks of misuse for criminal purposes.”]

EU Anti-Money Laundering Laws Ban Provision of Services for Anonymous Cryptocurrency Accounts

A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing” alleges these assets present “risks of misuse for criminal purposes.”

EU Toughens Laws Regarding Anonymous Cryptocurrency Accounts

The European Union (EU) has toughened its stance on anonymous cryptocurrency accounts and privacy-enhancing cryptocurrencies. The proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing,” approved by the European Parliament on March 19, bans cryptocurrency service providers from providing services and custody for “anonymous crypto asset accounts.”

As justification for this decision, the proposal states that the anonymous characteristics of crypto assets expose them “to risks of misuse for criminal purposes,” and that these “do not allow the traceability of crypto-asset transfers.” Consequently, using these makes identifying suspicious transactions that might pose risks for service providers difficult.

The document, which spans 329 pages, mentions anonymity-enhancing coins and accounts allowing for the anonymization or increased obfuscation of transactions among the elements that should be banned from interacting with crypto service providers. This hints at the exclusion of assets that have been anonymized through mixing protocols such as Tornado Cash, and also privacy coins such as monero.

These measures do not apply to hardware or software providers, and providers of unhosted wallets that do not have direct control of the crypto asset wallets of their users. The EU Council and the Parliament convened to apply these measures in December 2022.

Patrick Breyer, a member of the European Parliament since 2019 and part of Pirate Party Germany, voted against this proposal, explaining that it might have negative repercussions.

Breyer stated:

We have a right to pay and donate online without our personal transactions being recorded. If the EU believes it can regulate virtual currencies at a regional level, it hasn’t understood the global nature of the Internet.

Source: https://news.bitcoin.com/eu-anti-money-laundering-laws-ban-provision-of-services-for-anonymous-cryptocurrency-accounts/

[Blackrock’s head of digital assets has revealed that bitcoin is the overwhelming favorite cryptocurrency for the asset management firm’s clients. “And then a little bit Ethereum, and very little everything else,” he added. Blackrock’s spot bitcoin exchange-traded funds (ETF), the Ishares Bitcoin Trust (IBIT), has amassed approximately 243K bitcoins since its launch.]

Bitcoin Tops Crypto Priority for Blackrock Clients as IBIT Holdings Reach 243K BTC

Blackrock’s head of digital assets has revealed that bitcoin is the overwhelming favorite cryptocurrency for the asset management firm’s clients. “And then a little bit Ethereum, and very little everything else,” he added. Blackrock’s spot bitcoin exchange-traded funds (ETF), the Ishares Bitcoin Trust (IBIT), has amassed approximately 243K bitcoins since its launch.

Blackrock’s Head of Digital Assets Discusses Client Demand for Bitcoin

Blackrock’s head of digital assets, Robert Mitchnick, talked about bitcoin and demand for his firm’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), at Bitcoin Investor Day in New York City on Friday.

During a fireside chat, Mitchnick revealed that bitcoin is the cryptocurrency of most interest to Blackrock’s clients, stating:

For our clients, bitcoin is overwhelmingly the number one priority. And then a little bit Ethereum, and very little everything else.

IBIT continues to grow its BTC holdings since its launch in early January. The fund’s latest data shows holdings of approximately 242,830 BTC, representing a notional value of about $15.8 billion. According to Bitmex Research, IBIT added 297.5 BTC to its holdings on Friday, bringing the spot bitcoin ETF’s total holdings as of March 22 to more than 243K BTC.

During an interview with Yahoo Finance at the event, Mitchnick described Blackrock’s approach to bitcoin and crypto more broadly: “This has been a multi-year journey for us, starting back really 2016 kind of time frame … you’ve seen our strategy kind of evolve with that to take us to the point where we are today.”

Noting that Blackrock’s clients are “at all stages of the journey,” he explained that some clients “already hold bitcoin, sometimes positions in multiple crypto assets.” He added: “They’re looking for our perspectives on market dynamics and what we’re seeing in terms of portfolio construction and other considerations.” On the other hand, some clients are new to crypto, he further shared, adding that they “want to understand kind of the fundamentals and the technology and how it works. And so we have those conversations across the spectrum.”

When asked about what Blackrock is hearing from clients and what they are interested in, Mitchnick replied: “What we’re seeing is that investors are resoundingly choosing IBIT for bitcoin access. That’s a combination of investors who are new to bitcoin and those who maybe held exposure in a different form historically.” He emphasized:

What our clients, I think, are most focused on is trying to understand risks, upside, downside, thoughts about portfolio construction, how to think about the risk in a larger diversified portfolio context. So those are the kinds of discussions we’re having a lot.

Source: https://news.bitcoin.com/bitcoin-tops-crypto-priority-for-blackrock-clients-as-ibit-holdings-reach-243k-btc/

[“Mining for Power,” an anti-Bitcoin report by Greenpeace USA that explains the links between the bitcoin mining industry and fossil fuel companies, has faced a backlash in social media due to its inaccurate portraits of the mining activity. Using community notes, social network users detailed the report contained “many factual errors,” including outdated information.]

Greenpeace's Anti-Bitcoin "Mining for Power" Report Receives Fierce Backlash on X

“Mining for Power,” an anti-Bitcoin report by Greenpeace USA that explains the links between the bitcoin mining industry and fossil fuel companies, has faced a backlash in social media due to its inaccurate portraits of the mining activity. Using community notes, social network users detailed the report contained “many factual errors,” including outdated information.

Greenpeace Bitcoin “Mining for Power” Report Gets Debunked on X

“Mining for Power,” a report by Greenpeace USA that allegedly reveals the links that bitcoin mining has with fossil fuel companies and conservative lobbies, has faced a strong backlash in social networks given its inaccuracies on current industry data.

The 36-page report states that most of the power used for bitcoin mining comes from fossil fuels and that the carbon footprint of the bitcoin network has only grown over time. Also, it stated that Bitcoin’s power demand is “straining electrical grids and increasing costs for ratepayers.”

Greenpeace’s report identified a “revolving door” between bitcoin mining companies and organizations like the American Legislative Exchange Council (ALEC) and others funded by the Koch brothers, alongside officers from the Trump Administration.

Daniel Batten, managing partner at CH4 Capital and a researcher on the bitcoin power issue, lambasted this report, stating that people “rarely make it past the first paragraph without reading a large swathe of misinformation.” He called out the organization for spreading misinformation, saying that this kind of behavior only weakened its voice and ability to become a “positive voice for change.”

Nonetheless, not only Batten criticized the conclusions and asseverations disseminated by Greenpeace’s report. X user “Explorative Trail Mallard” issued a community note opposing the report’s contents and pointing out the differences with updated industry data.

The note stressed:

The article contains many factual errors, like the flawed per transaction accounting of energy, and outdated and inaccurate information, such as the proportion of fossil fuels used as energy source. Nowadays the majority of the energy used by Bitcoin mining is renewable.

In January, Greenpeace criticized the approval of a slew of spot bitcoin exchange-traded funds (ETF). Rolf Skar, National Campaigns Director at Greenpeace USA, declared that this move constituted a “win for executives at big Wall Street companies but a loss for the climate and society.”

Source: https://news.bitcoin.com/greenpeaces-anti-bitcoin-mining-for-power-report-receives-fierce-backlash-on-x/

[Gold bug Peter Schiff has highlighted a problem with owning spot bitcoin exchange-traded funds (ETFs). However, the issue Schiff pinpointed isn’t unique to bitcoin ETFs. This discussion has reignited calls for self-custody among crypto proponents.]

Peter Schiff Highlights Problem With Owning Bitcoin ETF — BTC Investors Respond Self-Custody Is Key

Gold bug Peter Schiff has highlighted a problem with owning spot bitcoin exchange-traded funds (ETFs). However, the issue Schiff pinpointed isn’t unique to bitcoin ETFs. This discussion has reignited calls for self-custody among crypto proponents.

Peter Schiff’s Warning Prompts Self-Custody Push

Gold advocate and economist Peter Schiff has highlighted a problem with owning spot bitcoin exchange-traded funds (ETFs). He wrote on social media platform X Tuesday:

One problem with owning bitcoin in an ETF is that liquidity is limited to U.S. market hours. So if the market crashes overnight, you have no ability to sell until the U.S. market opens for trading in the morning. Very frustrating to watch helplessly with no ability to get out.

Schiff’s statement came after the price of bitcoin dipped earlier this week. The gold bug shared on X Monday: “The more bitcoin that moves into ETFs, the more vulnerable bitcoin becomes to a catastrophic crash. That’s because ETF buyers are more likely traders than true believers. So if bitcoin is going up they’ll go along for the ride. But once it enters a bear market, they’ll bail out.”

When the liquidity of physical gold is questioned, Schiff replied: “Gold doesn’t crash overnight like bitcoin. So there is nothing to worry about.”

Many people commented on Schiff’s post. Bloomberg ETF analyst James Seyffart pointed out that the issue Schiff raised with spot bitcoin ETFs applies to other ETFs as well, including gold ETFs. The analyst detailed on X:

This isn’t new though or exclusive to bitcoin. Gold ETFs? Same thing. Any commodity ETF. Yup. International equity ETFs. Same deal. Even stocks that have market moving events occurring after market hours or during the weekend is pretty similar.

A number of bitcoin proponents responded to Schiff’s post by emphasizing the importance of self-custody and buying BTC directly instead of through ETFs.

Simon Dixon, CEO and co-founder of Bank To The Future, replied to Schiff: “True. Plus no ability to buy bitcoin ETF when the market is closed. Moral of the story is to own real bitcoin if you can. It’s a lot easier than owning real gold without a custodian.” Entrepreneur Bryce Clark opined:

You know Peter Schiff brings up a good point here, you really should self custody your crypto, stop letting third parties hold it. Great advice and thanks for the warning Peter.

Dave Weisberger, an advocate of digital assets for economic freedom, wrote: “Unwittingly, Peter provides another reason why the world’s analog asset markets WILL go digital… 24/7, multi-currency markets, with on-demand settlement, using on-chain value stores as the unit of account ARE superior & will be adopted.”

Source: https://news.bitcoin.com/peter-schiff-highlights-problem-with-owning-bitcoin-etf-btc-investors-respond-self-custody-is-key/

[Crypto entrepreneur and Bitcoin.com founder, Roger Ver, has recently unveiled the publication of a 304-page book titled “Hijacking Bitcoin: The Hidden History of BTC,” offering a fresh viewpoint that diverges from commonly accepted historical accounts. This book provides readers with an alternate perspective, challenging the traditional narratives surrounding Bitcoin’s evolution and history.]

Roger Ver’s New Book Tops Amazon's New Releases, Memoir Dives Deep Into Bitcoin Controversies

Crypto entrepreneur and Bitcoin.com founder, Roger Ver, has recently unveiled the publication of a 304-page book titled “Hijacking Bitcoin: The Hidden History of BTC,” offering a fresh viewpoint that diverges from commonly accepted historical accounts. This book provides readers with an alternate perspective, challenging the traditional narratives surrounding Bitcoin’s evolution and history.

Exploring Bitcoin’s History Through Roger Ver’s Eyes

Roger Ver has revealed the release of a book he co-authored with Steve Patterson, featuring insights from esteemed economist Jeffrey Tucker. Currently available for pre-order on Amazon, the book is set to be officially released on April 4, 2024. Its summary points out that Bitcoin’s original promise “was broken after a small group of insiders took over the project and fundamentally changed Bitcoin’s design.”

The book discusses various occurrences that happened over the years. It includes subjects like the basics of Bitcoin, debates like the store of value and medium of exchange argument, block sizes, censorship, and the Lightning Network. In the book, Ver said he invested more than thirteen years championing Bitcoin and cryptocurrencies as the next evolution in financial systems, convinced of their capacity to forge a much freer and wealthier society.

He regards cryptocurrencies as some of the most pivotal innovations in history. During this period, Ver said he has been a fervent supporter of the sector, backing startups, fostering business growth, and acting as a vocal advocate, while also observing a BTC price increase of over 6,500,000%. “Yet, this book is not a love story, and I wish it did not have to be written,” Ver explains in the first chapter. “The project I got involved with in 2011 has been hijacked and changed for the worse.”

Jeffrey Tucker, the economist and founder of the Brownstone Institute, echoes a similar sentiment in his introduction to Ver’s upcoming book. “The story you will read here is of tragedy, the chronicle of an emancipationist monetary technology subverted to other ends,” Tucker writes. “It’s a painful read, to be sure, and the first time this story has been told with this much detail and sophistication. We had the chance to free the world. That chance was missed, likely hijacked and subverted.”

As of March 17, archived data from Amazon’s Hot New Releases in the economics category, Ver’s latest memoir tops the list at number one, surpassing Gary Stevenson’s “The Trading Game” and Thomas Sowell’s “Basic Economics, Fifth Edition.”

Source: https://news.bitcoin.com/roger-vers-new-book-tops-amazons-new-releases-memoir-dives-deep-into-bitcoin-controversies/

[Coinbase has been chosen as a key infrastructure provider for Blackrock’s newly unveiled tokenized investment fund, the crypto exchange has revealed. “This is the latest progression of our digital assets strategy,” said Blackrock’s head of digital assets. “We are focused on developing solutions in the digital assets space that help solve real problems for our clients.”]

Coinbase to Provide Key Infrastructure for Blackrock's Tokenized Investment Fund

Coinbase has been chosen as a key infrastructure provider for Blackrock’s newly unveiled tokenized investment fund, the crypto exchange has revealed. “This is the latest progression of our digital assets strategy,” said Blackrock’s head of digital assets. “We are focused on developing solutions in the digital assets space that help solve real problems for our clients.”

Coinbase to Work With Blackrock on Tokenized Investment Fund

Blackrock, the world’s largest asset manager, unveiled its first tokenized fund issued on a public blockchain in collaboration with Securitize Markets on Wednesday. The fund is called Blackrock USD Institutional Digital Liquidity Fund (BUIDL).

Coinbase Institutional announced on social media platform X Wednesday that it has been selected to provide key infrastructure for Blackrock’s new fund, stating:

We are excited to announce that Coinbase has been chosen as a key infrastructure provider for Blackrock and Securitize Tokenized Investment Fund.

“This partnership reflects our commitment to connecting institutions to crypto and demonstrates our ability to provide the necessary technology and products to support the rapidly growing tokenization sector,” Coinbase detailed.

The BUIDL fund will offer qualified investors the opportunity to earn U.S. dollar yields by subscribing on the blockchain through Securitize Markets. “The fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements, allowing investors to earn yield while holding the token on the blockchain,” Blackrock described. “BUIDL seeks to offer a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets as new tokens each month.”

Coinbase also offers custody services for Blackrock’s bitcoin holdings in the Ishares Bitcoin Trust (IBIT), the world’s largest asset manager’s spot bitcoin exchange-traded fund (ETF). Blackrock has also applied to launch its Ishares Ethereum Trust with the Securities and Exchange Commission (SEC).

Robert Mitchnick, Blackrock’s head of digital assets, also commented on Wednesday:

This is the latest progression of our digital assets strategy … We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize.

The initial BUIDL ecosystem participants include Anchorage Digital Bank NA, Bitgo, Coinbase, and Fireblocks. Blackrock Financial Management will be the investment manager of the fund and Bank of New York Mellon will serve as the custodian of the fund’s assets and its administrator. Securitize will act as Blackrock’s transfer agent and tokenization platform.

Source: https://news.bitcoin.com/coinbase-to-provide-key-infrastructure-for-blackrocks-tokenized-investment-fund/