Coinbase Refutes BlackRock IOU Rumors, Experts & CEO Armstrong Weigh In

Quick Summary:

Crypto analyst Tyler Durden, a well-known critic over the weekend accused Coinbase of allowing the company managing the largest spot bitcoin ETF, BlackRock, to borrow the cryptocurrency without posting any collateral.

Industry insiders and Coinbase CEO Brian Armstrong swiftly refuted rumors that Coinbase had issued Bitcoin IOUs.

Durden went on to say that would be an easy case of market manipulation and also lead to profits from price fluctuations.

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Article Details

Author / Journalist: Teuta

Category: Crypto

Markets: IndiaBrazilCroatiaMexico

Topics: Brian Armstrong 24/7 Cryptocurrency News Coinbase Blackrock Exchange News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 20:17:53 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 41 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22570901

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