Automata Weekly Crypto Recap
All the latest news from around the world of blockchain
Coinbase Considers Launching Crypto ETF with Help of Wall Street giant BlackRock
In exceptionally bullish news, leading cryptocurrency exchange Coinbase is exploring launching its own ETF, involving not one but multiple major cryptocurrencies. Sources inside Coinbase have confirmed that exploratory meetings have taken place with Wall Street giant BlackRock, who at the time of writing have around $6 Trillion in Assets Under Management (AUM). It is unclear if the conversation had between Coinbase representatives and members from BlackRock’s blockchain working group is a one-off or the beginning of an ongoing dialogue between the two companies. Stay tuned for more on this in the coming weeks and months.
Coinbase CEO Brian Armstrong: 1 Billion People Will Be in Crypto Ecosystem in 5 Years
In what feels like a week where Coinbase has dominated crypto news headlines, CEO Brian Armstrong has made the bold claim that the number of people involved in the cryptocurrency ecosystem could grow almost 25-fold to 1 Billion in only 5 years. In an interview with TechCrunch on September 7, Armstrong forecasted a continued growth in both the number of cryptocurrencies available and their user base. In justification he noted examples like recent moves by Coinbase to develop the infrastructure needed to onboard such a large number of people, through things such as the establishment of margin, over-the-counter and securities trading platforms. Coinbase has already taken the initial steps to build all three of these trading options, with Armstrong projecting that Coinbase could list hundreds or thousands of tokens on its platform in the future.
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