Larry Fink, the CEO of BlackRock (NYSE:BLK), has recently delivered pro-crypto remarks, claiming Bitcoin is an international asset and suggesting U.S. regulators consider how an ETF directly linked to Bitcoin could democratize finance in the country. Under Fink, BlackRock has attempted to launch a spot BTC ETF with crypto exchange Coinbase (NASDAQ:COIN) acting as a surveillance partner. Its unclear if the U.S. Securities and Exchange Commission (SEC) will approve the investment vehicle, given its track record of rejecting all previously filed spot BTC ETF applications to date.
Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO, Barry Silbert, claiming fraud against creditors. Genesis, a DCG subsidiary, had been the crypto lender responsible for operating an Earn program in partnership with the crypto exchange. The suit follows an open letter published by Gemini co-founder Cameron Winklevoss, which slammed Silbert for allegedly trying to play the victim card while owing over a billion dollars to Earn’s investors. Not even Sam Bankman-Fried was capable of such delusion, Winklevoss wrote in the letter.