{"id":15144,"date":"2022-12-05T03:21:24","date_gmt":"2022-12-05T03:21:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/most-crypto-companies-arent-going-to-be-around-featured-bitcoin-news\/"},"modified":"2022-12-05T03:21:24","modified_gmt":"2022-12-05T03:21:24","slug":"most-crypto-companies-arent-going-to-be-around-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/most-crypto-companies-arent-going-to-be-around-featured-bitcoin-news\/","title":{"rendered":"Most Crypto Companies Aren’t Going to Be Around \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The CEO of Blackrock, the world\u2019s largest asset manager, says that most crypto companies will not be around following the collapse of crypto exchange FTX. However, the executive is still optimistic about blockchain technology.<\/strong><\/p>\n

Blackrock\u2019s CEO on FTX\u2019s Collapse and Future of Crypto<\/h2>\n

Larry Fink, the CEO of Blackrock Inc. (NYSE: BLK), the world\u2019s largest asset management firm, talked about cryptocurrency and the collapsed exchange FTX during an interview at the New York Times Dealbook Summit last week.<\/p>\n

Blackrock had $7.96 trillion in assets under management (AUM) as of the third quarter. The asset management firm invested $24 million in Sam Bankman-Fried (SBF)\u2019s FTX through a billionaire fund it manages, the CEO explained.<\/p>\n

Regarding the FTX meltdown, Fink said: \u201cWe\u2019re going to have to wait to see how this all plays out \u2026 I mean, right now we can make all the judgment calls and it looks like there were misbehaviors of major consequences.\u201d The Blackrock chief executive believes that most crypto companies we see today will not be around, stating:<\/p>\n

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I actually believe most of the companies are not going to be around.<\/p>\n<\/blockquote>\n

Despite the problems surrounding FTX, Fink said blockchain technology is relevant for the future. Emphasizing that the technology behind crypto \u201cwill be very important,\u201d the Blackrock boss opined:<\/p>\n

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I believe the next generation for markets and next generation for securities will be tokenization of securities.<\/p>\n<\/blockquote>\n

Crypto exchange FTX filed for Chapter 11 bankruptcy on Nov. 11 and Bankman-Fried stepped down as the CEO. The company owes an estimated one million creditors billions of dollars. Other global asset managers that invested in FTX included the Singapore government\u2019s Temasek Holdings<\/a>, Tiger Global, Sequoia Capital<\/a>, and the Ontario Teachers\u2019 Pension Plan<\/a>.<\/p>\n

The FTX meltdown has many people calling for tighter crypto oversight<\/a>. Last week, U.S. Treasury Secretary Janet Yellen<\/a> said crypto doesn\u2019t have adequate regulation. \u201cIt\u2019s a Lehman moment within crypto, and crypto is big enough that we\u2019ve had substantial harm with investors,\u201d she said.<\/p>\n

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Blackrock<\/a>, blackrock bitcoin<\/a>, blackrock crypto<\/a>, blackrock cryptocurrency<\/a>, Blackrock FTX<\/a>, blackrock sam bankman-fried<\/a>, blackrock sbf<\/a>, crypto companies<\/a>, crypto firms<\/a>, ftx<\/a>, Larry Fink<\/a>, larry fink crypto<\/a>, larry fink cryptocurrency<\/a>, larry fink ftx<\/a>, larry fink sam bankman-fried<\/a>, larry fink sbf<\/a><\/div>\n<\/div>\n

What do you think about the comments by Blackrock CEO Larry Fink? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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