BlackRock CEO Larry Fink: This Crypto News Will SHOCK You…

Look I'm I I'm very bullish um on the Long-term viability of Bitcoin the Bitcoin price continues to consolidate Near all-time highs I was going say did That surprise you that surprised me how Much that's gone up there's an exodus Off exchanges nearly 10 billion of Bitcoin have left crypto exchanges in 2024 so we have not seen these levels of Bitcoin balance on all exchanges since April of 2018 we're creating now a Market that has more liquidity more Transparency And I'm I'm pleasantly surprised and I Would never have predicted it before we Filed it that we were going to see this Type of retail so you thought you'd do Good but not this good major milestone For Bitcoin ETFs the new Bitcoin ETFs Purchased more than 500,000 Bitcoin Worth $35 billion in just 54 trading Days that's less than 3 months yes yes Well ibid ibid is your ETF over at I Shares it's about to overtake grayscale As grayscale gbtc selling is tapering Off which was in the business certainly A lot longer you look at the gains since January 11th when it first came about Yes have you ever seen this much inflow This quickly and again we're seeing the Lowest balance on exchanges since April Of 2018 the trend is showing no signs of Slowing as glass node shows that on March 26 7th alone withdrawals totaled

More than 22,000 Bitcoin the third Largest daily tally of 2024 and black Rock I bet is the fastest growing ETF in The history of ETFs nothing has has gain Assets as fast as I B in the history of ETF so ether is next with an ETF is Ethereum next the spot ethereum ETF is Going to be the Catalyst of a huge alt Season the CC's deadline for that to Rule on the Black Rock ethereum ETF is In August although the next date to keep On your radar for vanex ethereum ETF and Arc's ethereum ETF is in May and if you Think Black Rock won't get an ethereum ETF done I don't think you understand How this world works we'll see that's That's under registration okay so let's Just not talk about your product talk About ether the SEC there's lots of Noise about them declaring ether a Secure Which would take it out of the Bitcoin Category as a commodity how does that Translate into an ETF I don't think that Look at I really can't talk about it but I don't think that designation is going To be that deterio to oh really so even If it's a security you can start an ETF Bit an eth ETF I think so yeah that's Wild actually SEC commissioner Hester Pierce told us in January that ethereum Being deemed a security should have no Bearing or impact on ETF approval well Again I think it's important to remember

That you don't even have to look through To the question of whether or not the Underlying is uh is a security that Really isn't the issue in these Bitcoin Exchange or these more generally Exchange traded product uh approvals you Can have um you can have lots of things Underlying an exchange traded product And breaking news bitwise files for a Spot ethereum ETF Amit SEC approval Uncertainty and what's interesting is That they backed this with strong Correlation data fantastic work from Bitwise here showing an extraordinarily Tight correlation between eth spot and Futures using the sec's methodology this Makes it hard to imagine the SEC Prevailing in court if it denies a spot Eth ETF based on correlation so bitwise Is showing the SEC that the very same Analysis you used to approve a Bitcoin ETF your same reasoning applied to eth It's precedent um but I do think that to Your point that the the reasoning that's Used and the rationale that's used in The Bitcoin exchange traded product Approvals going to be precedent for when People come in as some have already and Asked for other kinds of um approvals of Similar kinds of products for other Assets now let's talk altcoin news both With SPF officially going to prison for 25 years District of New York judge Lewis Kaplan sentenced the disgraced FTX

Executive to 25 years in prison out of a Maximum years for the massive fraud and Conspiracy that led to the collapse of FTX this is good for the future of Crypto in the US and the reasoning the Reasoning the judge sentenced him to 25 Judge Kaplan said SPF had perjured Himself on the stand and argued that It's not a trivial risk that he will Commit more crimes in the future he Added that in his 30 years as a judge He's not seen a performance quite like This one from Sam bakman freed in October which included evading certain Questions while on the stand during his Trial bigman freed took the stand once Again today delivering a winding apology Statement saying that he had made bad Decisions that haunt him every day he Claimed responsibility for what happened And said that he was sorry that Customers were deprived of their crypto Currency gains attorneys for bankman Freed were seeking a sentence of 5 to 6 And A2 years citing medic conditions Including autism and that harm to Customers would be Zero thanks to the Bankruptcy process however FTX CEO John Ray told the judge last week that Creditors would never be fully recovered And called the estate a quote Metaphorical dumpster fire prosecutors Were seeking 40 to 50 years in prison Saying that their suggested sentence was

Appropriate given the extraordinary Dimensions of SP SPF crimes today judge Kaplan rejected the entirety of bitman Fred's argument that there was no loss At FTA calling that claim misleading Logically flawed and speculative so it Wasn't 5 to six yet it wasn't 100 to0 Definitely the statutory guidelines said 110 years but um every lawyer I've Spoken to said that that's really just Kind of uh a mechanical calculator based On the sheer extent of the crimes which At this case were more than $550 million 25 years was always kind of more I think A realistic goal just based on the idea That it's long enough that that it Should deter someone like s bankman Freed from doing anything like what he Was accused of uh and convicted of but At the same time it's not so long that He's spending life in prison for what is A white white collar crime so he has to Serve about 85% of that so he'll Spending more than 20 years in prison Looking at altcoins is grayscale filing For a Solana spot ETF conversion of Their Solana trust this is a new filing To the SEC so obviously the CEO of Grayscale would love if all of their Products turned into ETFs it's just Interesting that these are the two he Said by name and if you're interested in Making money in cryptocurrency now be Sure to click subscribe we drop one

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