World’s Largest Asset Manager Reveals Bitcoin Trust for Institutional Investors. The Good and the Ugly. | by Crypto Conquest | The Capital | Aug, 2022

Crypto Victory 8.11.22

Everything you need to know about today’s fast-moving crypto markets

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  • Blackrock Bitcoin Trust.
  • Has the market trapped FOMOers?
  • Mailchimp has banned crypto-based services.
  • Devs push Ethereum integration timeline.
  • Openea Updates Stolen NFT Policy

Good morning,

BlackRock, the world’s largest asset manager, has announced the launch of a private Bitcoin trust space for US institutional investors with $10T of assets under management (AuM).

The move comes amid increasing interest from institutional clients to acquire crypto-based assets in a cost-effective manner. Although the move contradicts CEO Larry Fink’s previous stance on crypto.

Private trusts, which are not available to retail investors, benefit from not being registered with US regulators. Moreover, Blackrock Partnership A week ago at cryptocurrency exchange Coinbase to acquire crypto assets through the company’s institutional platform Aladdin.

BTC/USDT 1D

After the CPI pump, the market forced Bitcoin (BTC) lower, creating a bearish pinbar candlestick pattern at the 24k resistance level. If the bearish candle completes the formation, the pattern indicates a trend reversal.

The market may be entering a familiar pattern that attracts eager buyers after the release of positive news. Look for high-level support (green) to confirm a trend break. BTC closed the daily session down -0.02% to $23,959.

High quality Chart

DXY/USD

The Dollar Index (DXY), which measures the dollar against a range of currencies, appears to have broken an uptrend (green). A move away from the dollar often reflects investors’ willingness to abandon the safety of reserves and move into riskier assets. However, watch out that DXY will not retrace its upward trend in the coming days.

High quality Chart

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Cuba is about to sue. Mark Cuban is the owner of the Dallas Mavericks. face to face A class action lawsuit filed against the bankrupt Voyager crypto exchange for promoting it. The suit alleges that he represented Cuba Voyager on several occasions and that he and Ehrlich worked together to lure Voyager’s CEO investors into a “Ponzi scheme.”

Mailchimp has discontinued its service. The email/newsletter service provider has it. It is blocked Accounts of crypto-based organizations including Messari, Decrypto, Edge and many others. MailChimp has updated its policies to include a provision prohibiting cryptocurrency-related businesses from using The service.

70% institutions eye blockchain paymentS. According to a Ripple report on global crypto trends, 70% of financial institutions are interested in using blockchain for payments.

News reports:

  • Indian law enforcement He accuses WazirX Laundry Exchange.
  • Polygon He announces Partnered with Newsize to launch gaming platform Intella.
  • Arthur Hayes Notes Buy-side pressure in Ethereum futures for The Merge.

At the protocol level ⛓

Move the combination up. After the successful integration of Goerli Tesnet, Ethereum developers have temporary. Scheduled Mains merge for September 15th or 16th. So we are one day closer to integration!

MakerDAO sees activity. The founder of MakerDAO has revealed that he is considering using USDC as collateral after the Tornado Sanctions Circle forced him to stop holding USDC in several wallets. By freezing the USDC hit by Tornado Cash sanctions, Circle has confirmed the issues behind centralization and could hold the future of a stablecoin in a decentralized ecosystem. MakerDAO currently holds $3.5 billion USDC which can be used to purchase Ether.

NFT and Metaverse Update 🐵

  • Openea has updated its policies Prohibition List of previously stolen NFTs. Additionally, NFT holders can send police reports to the Openea team to verify theft. The update has mixed reviews, but some claim It’s a step in the right direction.
  • MICA Law: European Union (EU) to regulate NFTs similar to cryptocurrencies.
  • Music NFT platform HitPiece is now live. Co-founder Rory Felton noted that the updated version focuses on artists’ copyrights.
  • The governing body of table tennis is the World Tennis Federation (WTT). to see Collaborating with NFT Technology to expand the game. Table tennis NFTs, anyone?

My five cents…

Like it or not, cryptocurrency has reached institutional adoption.

It was bound to happen. Some progress has been made in the last two years:

BlackRock’s launch of Bitcoin Trust is a strong exclamation point.

But many have noticed the flawed mechanism of the process, which now allows institutional investors to gain exposure to Bitcoin. On the other hand, spot-bitcoin ETFs offered to retail investors continue to be rejected by the Securities Exchange Commission (SEC). Again, the little guy loses.

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