Daily: Bulls run after 6.3 Trillion fund makes "Blockchain Taskforce"

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The world's largest asset fund Blackrock reveals that they have a special task force dedicated to cryptocurrencies. Does what does this mean. Coinbase also acquires the pieces necessary to make it lis...

The world's largest asset fund Blackrock reveals that they have a special task force dedicated to cryptocurrencies. Does what does this mean. Coinbase also acquires the pieces necessary to make it list securities tokens. 1:43 Blackrock's Crypto Taskforce https://www.ccn.com/blackrock-the-worlds-largest-asset-manager-is-exploring-cryptocurrencies/ 4:38 Coinbase to become Securities Exchange? https://www.bloomberg.com/amp/news/articles/2018-07-16/coinbase-says-it-has-green-light-to-list-coins-deemed-securities 👍🏻Subscribe to Boxmining for Daily CryptoNews and #Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I talk about: #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins

AI Analysis

The crypto markets are finally seeing some green, and it's largely due to two major developments: BlackRock, the world's largest asset fund, showing serious interest in cryptocurrencies, and Coinbase making strategic moves to list security-based tokens. These events are injecting a lot of hype and interest back into the crypto space, signaling a potential shift in how traditional finance views and integrates with decentralized assets.

Here’s a breakdown of the key drivers behind the recent market uplift:

* BlackRock's Deep Dive into Crypto:
* BlackRock, which manages a staggering $6.3 trillion in assets, has established a dedicated cryptocurrency task force. This is a massive validation for the crypto market, especially considering past dismissals from other large financial institutions like Goldman Sachs.
* The task force reports directly to senior management, indicating a serious and in-depth investigation into cryptocurrencies, not just a casual glance.
* The news of BlackRock's involvement has significantly contributed to the recent positive turn in the crypto market, lifting it from a period of general gloom.
* There's a lot of speculation about the potential financial impact: if BlackRock were to allocate even just 1% of its assets to cryptocurrencies, that would be a $60 billion injection into the current $270 billion crypto ecosystem, a truly monumental sum.
* However, it's important to temper expectations. BlackRock CEO Larry Fink has stated that their clients currently have no interest in crypto exposure. This suggests that while BlackRock is exploring the space, direct adoption and client investment might still be some ways off.
* The journey for Bitcoin to gain recognition has been long, almost nine years since its inception in 2009. There's still a broad lack of understanding about the true power of cryptocurrencies. Bitcoin, as an unstoppable transfer of value, offers immense potential, especially in developing countries where a transparent and accessible banking system is often lacking.

* Coinbase's Play for Securities Exchange:
* Coinbase is strategically positioning itself to become a platform that can list coins deemed as securities, which is a huge step for the industry.
* This move aims to resolve the long-standing issue where many Initial Coin Offerings (ICOs) are marketed as "utility tokens" without voting rights or profit distribution, even if they behave like securities. With Coinbase's new capabilities, these tokens could potentially be properly registered with the SEC.
* Instead of applying for new permits from scratch, Coinbase has cleverly acquired three companies that already hold the necessary licenses for securities exchange in the U.S.: Keystone Capital Corp, Vanovate Marketplace, and Digital Wealth LLC. This is a much faster and more efficient way to achieve its goal.
* This development is considered the "holy grail" for coin listings because it opens the door for tokens to legitimately offer features like voting rights or a share in company profits.
* While other projects like Polymath are working on technology for security tokens and T0 is building its own crypto exchange, Coinbase's acquisition strategy provides a powerful alternative pathway for the broader adoption and legitimation of security tokens in the market.
* While some might argue Bloomberg's headline about Coinbase having the "green light" might be slightly premature, the underlying strategy and the pieces being put in place clearly indicate that this is the direction Coinbase is heading.

In essence, these two stories highlight a significant shift in the cryptocurrency landscape. Large financial institutions are moving from skepticism to serious investigation, and major crypto platforms are building the infrastructure necessary for broader, more regulated adoption. This suggests a future where digital assets are increasingly integrated into traditional financial systems, offering new possibilities for investment and wealth transfer.

Transcript

So the markets are finally up and today I'm going to focus this episode primarily on the two pieces of news that's driving a lot of hype and a lot of interest back into cryptocurrencies. The first of all being the fact that BlockRock, the world's largest asset fund, said they're interested in cryptocurrencies. We're going to take a look at what exactly is said and what are the limitations of this and why we're still excited. We're also going to look at Coinbase as well. So Coinbase, they acquir...

So the markets are finally up and today I'm going to focus this episode primarily on the two pieces of news that's driving a lot of hype and a lot of interest back into cryptocurrencies. The first of all being the fact that BlockRock, the world's largest asset fund, said they're interested in cryptocurrencies. We're going to take a look at what exactly is said and what are the limitations of this and why we're still excited. We're also going to look at Coinbase as well. So Coinbase, they acquired three individual companies that's eventually going to set them up to allow them to list security based tokens. So that's going to be interesting because that's going to set a play in motion that's going to allow a change in the cryptocurrency market. So instead of all these ICOs saying, you know what, these are utility, these are functional currencies and they don't provide any sort of voting rights or profit distribution. They can finally say, yeah, you know what, these are security tokens and they can list them and register them with the SEC. So that's the eventual goal of the play that Coinbase is trying to make. So we're going to look at in depth of these two aspects and in today's episode. And of course, everything covered here is my personal opinion, not financial advice. Starting off with a very quick glance at the market. We're definitely in the green today, especially because I'm filming at this hour. So it takes a snapshot of yesterday, last 24 hours, probably the lowest low of yesterday. I feel like yesterday we were all in this gloomy state because the markets are down. And finally, today we have a flip into the green. So what exactly is causing this? And I feel like BlackRock definitely has a huge role to play here. So what's this hype all coming from? Well, BlackRock, one of the world's biggest, largest funds. So they manage around $6.3 trillion. That's trillion with a capital T instead of the billions that we're used to. Yeah, you know, those billions, those are worthless. Let's talk about trillions here. So this trillion dollar fund has expressed and came out and said, you know what? We have a cryptocurrency task force now. So that is a huge validation for cryptocurrencies. Because before, you know, we had Goldman coming out saying, you know what? Crypto is a scam. It's a Ponzi scheme that's going to pass away soon. Oh, but by the way, one of our portfolio companies, Circle, they're buying up polionics just in case, you know, in the future, if this becomes popular. Well, BlackRock came out to say that they are actively looking at cryptocurrencies. There's a task force. And this task force directly reports to senior management. So this is quite a serious, serious investigation into cryptocurrency. So it's very much a validation of what this current market is going towards. The fact is that crypto, we're creating a decentralized world. But not just that, but we're creating and re-examining what it means to be a currency. I mean, that is huge. And the fact that Bitcoin is an unstoppable transfer of value, that adds tremendous value, not just in developed countries, but more in developing countries that don't even have access to a good banking system. Here, Bitcoin can provide a transparent system of banking. So a lot of people in cryptocurrency did the math. What if BlackRock just spent 1% of their $6.3 trillion buying cryptocurrencies? That's going to be $60 billion. That's going to be a huge injection of money into our $270 billion ecosystem. But let's hold on to the brakes just one bit. Because the CEO of BlackRock, Larry Fink, came out to say, You know what? I don't believe any of our clients have any interest in crypto exposure. That's his way of saying, yeah, we don't think anyone wants to buy right now. We're not in a current buying mood. We're just investigating. And this is something that's been going on for a long time for big businesses in cryptocurrency as well. Think about it. Bitcoin was around since 2009. And it took us almost nine years to get us to the current state of kind of recognition and understanding of what this technology actually is. And I still think with a lot of people, they still don't understand the true power of cryptocurrencies just yet. So I feel like even in terms of adopting, directly applying this, it's going to be a while. So even though they're interested and create a task force, they definitely have a truth in the sense that their clients aren't ready to jump in yet. And if those clients are ready to jump in, they probably jumped ship and started buying already. Now, on to the Coinbase article. This is a huge, huge headline on Bloomberg. Basically, Coinbase says it has the green light to list coins deemed as securities. And a lot of people are saying, well, that's actually a lie, Bloomberg. We're not there yet. And there's a little bit of truth to it. But the board is set. The pieces are put, set in motion to deliver this. Well, how is this being done? Well, Coinbase is acquiring different companies. So instead of applying for permits itself, it's smart enough to say, you know what? The fastest way to do so is to acquire companies that have licenses to create in the securities exchange in the U.S. So they purchased Keystone Capital Corp, Vanovate Marketplace, and Digital Wealth LLC. So with these pieces set together, they can start creating a securities exchange. So they got the licenses there from these other companies, acquired that. Boom. Done that. Now ready to create this cryptocurrency exchange that can list securities. Why is this so big? The reason why this is so big is because for the longest time, people wanted to deliver coins that can either vote or can take a portion of profit share of the company. This is like the holy grail of coin listings. We've seen various companies or technologies trying to do similar things or providing such technologies. We see Polymath trying to provide the technology for securities tokens. We've seen T0 trying to set up their cryptocurrency exchange as well. And the fact that Coinbase can acquire these companies just brings another alternative path on the way forward. Guys, thank you guys so much for watching today's episode. See you next time.