Larry Fink, CEO of Blackrock, the world’s largest asset management company, made some statements about the events in the crypto money industry in an interview at the New York Times Dealbook Summit. It was stated that Blackrock, which has close to $ 8 trillion in assets under management, has invested $ 24 million in FTX through a fund managed by the asset management firm. Stating that the collapse of the crypto money exchange FTX has greatly damaged the industry, the CEO made the following statement on the subject:
“We’re going to have to wait to see how this all turns out. I mean, we can make all the judging decisions right now, and it looks like there is bad behavior that will have significant consequences.”
Stating that the collapse of FTX will have various effects, the CEO said that after all these negative developments, most crypto money companies are in danger of going bankrupt.
“I actually believe most of the crypto companies won’t be around.”
However, despite all these negativities, Fink stated that he believes in the future of blockchain technology and emphasized that the most important thing is the technology behind cryptocurrencies.
As it is known, the collapse of FTX caused the regulatory authorities to bring the regulations for the crypto money sector back on the agenda. Even recently, US Treasury Secretary Janet Yellen said that cryptocurrencies do not have enough regulation. Stating that the crypto money industry is big enough to cause significant damage to investors, Yellen stated that regulations should be started urgently.
BlackRock Partnered With Coinbase
BlackRock continues to take various steps in this area, citing the innovations that blockchain technology will bring to the financial system. In this context, the company, which has made various initiatives, reveals that it is not far from the sector with its investments. As you may recall, BlackRock has publicly announced that it is sitting at the partnership table with the cryptocurrency exchange Coinbase. With this agreement, BlackRock’s institutional investors were able to benefit from custody, data, analysis, staking and trading after registering with Coinbase Prime.