Cardano (ADA) founder Charles Hoskinson criticized the move by corporate giant BlackRock which has submitted an application for a Bitcoin exchange-traded fund (ETF).
Crypto media Watcher Guru, pinned the Cardano founder's condemnation of BlackRock and Bitcoin ETF supporters with 'greedy' deprecation, as the headline. As reported, the world's largest asset management company, BlackRock, submitted an application for a spot Bitcoin ETF yesterday.
While this move has the support of many in the crypto community, there are also those who are skeptical. Hoskinson stated that their endorsement was evidence of dubious morals, unhealthy minds, and greed.
However, another user was quick to doubt Hoskinson's statement. The user stated that BlackRock's actions could be a turning point in the adoption and recognition of not only Bitcoin (BTC), but also other promising initiatives such as Cardano (ADA).
Responding to this, Hoskinson said that maximalists are fanatics who seek to undermine the entire sector. The ADA founder says he's old enough to remember when Mike Hern and Gavin Wood were kicked out.
Additionally, Hoskinson reminded the community about Jimmy Song wanting the US government to ban all cryptocurrencies except Bitcoin (BTC). Institutional interest is the dominant force in every industry. When large institutions are attracted to a sector, it leads to more promotion and regulatory support.
BlackRock as the world's largest asset manager is sure to attract the attention of other institutions as well. This could lead to the adoption of crypto as an asset of value. While this submission is for a Bitcoin ETF, this move could also generate interest in the crypto sector more broadly.
Also, with the ongoing regulatory pressure from the US SEC, an institution as big as BlackRock might be able to help bring more clarity to crypto regulation. What's interesting is that BlackRock is teaming up with crypto exchange Coinbase in its latest initiative.
Coinbase is one of the companies targeted by the SEC in its most recent struggle. With BlackRock as a partner, the popular crypto exchange can find a way out of the current situation.
Cardano (ADA) founder Charles Hoskinson criticized the move by corporate giant BlackRock which has submitted an application for a Bitcoin exchange-traded fund (ETF).
Crypto media Watcher Guru, pinned the Cardano founder's condemnation of BlackRock and Bitcoin ETF supporters with 'greedy' deprecation, as the headline. As reported, the world's largest asset management company, BlackRock, submitted an application for a spot Bitcoin ETF yesterday.
While this move has the support of many in the crypto community, there are also those who are skeptical. Hoskinson stated that their endorsement was evidence of dubious morals, unhealthy minds, and greed.
However, another user was quick to doubt Hoskinson's statement. The user stated that BlackRock's actions could be a turning point in the adoption and recognition of not only Bitcoin (BTC), but also other promising initiatives such as Cardano (ADA).
Responding to this, Hoskinson said that maximalists are fanatics who seek to undermine the entire sector. The ADA founder says he's old enough to remember when Mike Hern and Gavin Wood were kicked out.
Additionally, Hoskinson reminded the community about Jimmy Song wanting the US government to ban all cryptocurrencies except Bitcoin (BTC). Institutional interest is the dominant force in every industry. When large institutions are attracted to a sector, it leads to more promotion and regulatory support.
BlackRock as the world's largest asset manager is sure to attract the attention of other institutions as well. This could lead to the adoption of crypto as an asset of value. While this submission is for a Bitcoin ETF, this move could also generate interest in the crypto sector more broadly.
Also, with the ongoing regulatory pressure from the US SEC, an institution as big as BlackRock might be able to help bring more clarity to crypto regulation. What's interesting is that BlackRock is teaming up with crypto exchange Coinbase in its latest initiative.
Coinbase is one of the companies targeted by the SEC in its most recent struggle. With BlackRock as a partner, the popular crypto exchange can find a way out of the current situation.