BlackRock CEO Supports Bitcoin and Spot ETF, Gemini CEO Accuses Digital Currency Group of Fraud, Unhappy Staff at Crypto Exchanges

6:22 am
July 9, 2023
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Summary:

In recent news, Larry Fink, the CEO of BlackRock, expressed positive views on Bitcoin, calling it an “international asset” and advocating for the approval of a spot Bitcoin ETF. Meanwhile, Gemini, a crypto exchange, filed a lawsuit against Digital Currency Group (DCG) and its CEO, Barry Silbert, accusing them of fraud. Binance CEO Changpeng Zhao predicted that the next Bitcoin bull market would occur in 2025. In the UK, lawmakers are advancing a bill that would grant authorities more power to seize crypto assets involved in illegal activities. Additionally, a study found that staff at crypto exchanges like Binance, Coinbase, and Gemini are among the least happy in the industry.

In other news, there were some notable quotations, including one from Larry Fink stating that “Bitcoin is an international asset.” There were also predictions about the Bitcoin price and updates on recent crypto-related scams and investigations.

BlackRock CEO Bullish on Bitcoin, Advocates for Spot ETF

Larry Fink, the CEO of BlackRock, has expressed optimism about Bitcoin, referring to it as an “international asset.” He has also called on U.S. regulators to consider approving a spot Bitcoin ETF, which he believes would democratize finance in the country. BlackRock has already attempted to launch a spot BTC ETF in partnership with Coinbase, but its approval by the U.S. Securities and Exchange Commission (SEC) remains uncertain.

Source: Cointelegraph

Gemini Files Lawsuit Against Digital Currency Group and Barry Silbert

Gemini, a crypto exchange, has taken legal action against Digital Currency Group (DCG) and its CEO, Barry Silbert, alleging “fraud against creditors.” The lawsuit stems from DCG subsidiary Genesis’s operation of an Earn program in partnership with Gemini. The legal action follows an open letter by Gemini co-founder Cameron Winklevoss, in which he criticized Silbert for allegedly owing over a billion dollars to Earn’s investors and trying to play the victim. Gemini has filed the lawsuit to seek relief for the alleged fraud committed by DCG and Silbert.

Source: Cointelegraph

Binance CEO Predicts Bitcoin Bull Run in 2025

Binance CEO Changpeng Zhao, also known as CZ, has made a prediction about the next Bitcoin bull market. He explained that Bitcoin has historically experienced four-year bull cycles and suggested that this pattern would continue. CZ highlighted the upcoming Bitcoin halving event in 2024 and stated that 2025 is the most likely year for the next bull market. However, he emphasized that he cannot predict the future with certainty.

Source: Cointelegraph

UK Government Advances Bill to Seize Crypto

Lawmakers in the United Kingdom are pushing forward with a bill aimed at giving authorities more power to target cryptocurrencies used for illicit purposes. The bill includes provisions that would allow authorities greater flexibility in confiscating and recovering crypto assets. It also clarifies the government’s authority over digital assets intended for purposes of terrorism or other related reasons. The bill will undergo further consideration before potentially becoming law.

Source: Cointelegraph

Unhappy Staff at Binance, Coinbase, and Gemini

A study conducted by tech recruitment firm TrueUp has found that employees at crypto exchanges Binance, Coinbase, and Gemini are among the least satisfied in the industry. The study analyzed data from Glassdoor and revealed that employees at defunct crypto lender Celsius, Gemini, and trading firm Amber Group reported the lowest levels of job satisfaction. Binance attributed some of the results to its “hardcore” work culture, while industry experts cautioned that the data should be interpreted with caution.

Source: Cointelegraph

Frequently Asked Questions (FAQs)

1. What did Larry Fink, the CEO of BlackRock, say about Bitcoin?

Larry Fink expressed optimism about Bitcoin, calling it an “international asset” and advocating for the approval of a spot Bitcoin ETF to democratize finance in the United States.

2. Why did Gemini file a lawsuit against Digital Currency Group (DCG) and Barry Silbert?

Gemini filed a lawsuit against DCG and Barry Silbert, alleging “fraud against creditors.” The lawsuit is a response to DCG subsidiary Genesis’s alleged failure to repay over a billion dollars to investors in the Earn program.

3. When did the Binance CEO predict the next Bitcoin bull market?

Binance CEO Changpeng Zhao predicted that the next Bitcoin bull market would occur in 2025. He based this prediction on the historical pattern of Bitcoin’s four-year bull cycles and the upcoming Bitcoin halving event in 2024.

4. What is the purpose of the bill being advanced by the UK government?

The bill aims to grant authorities more power to target cryptocurrencies used for illicit purposes. It includes provisions to enhance the confiscation and recovery of crypto assets and clarifies the government’s authority over digital assets intended for purposes of terrorism or related reasons.

5. Which crypto exchanges have the least satisfied employees, according to the study?

According to the study by TrueUp, Binance, Coinbase, and Gemini have employees who reported the lowest levels of job satisfaction. The study analyzed data from Glassdoor.

Summary:

Larry Fink, the CEO of BlackRock, has expressed optimism about Bitcoin and called for the approval of a spot Bitcoin ETF. Gemini has filed a lawsuit against Digital Currency Group and its CEO, Barry Silbert, for allegedly defrauding creditors. Binance CEO Changpeng Zhao has predicted that the next Bitcoin bull market will occur in 2025. Meanwhile, the UK government is advancing a bill to grant authorities more power to seize crypto assets involved in illicit activities. A study shows that employees at Binance, Coinbase, and Gemini are among the least satisfied in the industry.


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