{"id":175698,"date":"2023-10-17T13:54:15","date_gmt":"2023-10-17T08:24:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175698"},"modified":"2023-10-17T13:54:15","modified_gmt":"2023-10-17T08:24:15","slug":"blackrock-boss-says-bitcoin-pump-on-fake-etf-news-shows-pent-up-interest-in-crypto-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blackrock-boss-says-bitcoin-pump-on-fake-etf-news-shows-pent-up-interest-in-crypto-crypto-news\/","title":{"rendered":"BlackRock Boss Says Bitcoin Pump on Fake ETF News Shows \u2018Pent Up Interest in Crypto\u2019 – Crypto News"},"content":{"rendered":"
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BlackRock CEO Larry Fink weighed in on the remarkable controversy that erupted earlier today, when a false report asserted that his company\u2019s application for an iShares Bitcoin Trust ETF had been approved by the Securities and Exchange Commission (SEC). The hoax whipped up a frenzy of excitement on social media that sent Bitcoin\u2019s price <\/span>soaring by 10%<\/span><\/a>.<\/span><\/p>\n

\u201cIt\u2019s just an example of the pent-up interest in crypto,\u201d Fink said during an appearance on Fox Business. \u201cI think the rally today is about a flight to quality.\u201d<\/span><\/p>\n

His take is a remarkably positive spin on the day\u2019s events, which were triggered when crypto news publication Cointelegraph tweeted that BlackRock\u2019s eagerly anticipated, <\/span>much-hyped<\/span><\/a> Bitcoin ETF application had been approved\u2014without citing any source for the claim.<\/span><\/p>\n

Both BlackRock and the SEC debunked the rumor, and Cointelegraph retracted the post\u2014but not before the price of Bitcoin shot up to nearly $30,000 for the first time since July. Ultimately, the world\u2019s top cryptocurrency scraped $29,483 on the rumor, but within 15 minutes had fallen back down below $28,000 once it was disproven.<\/span><\/p>\n

Bitcoin currently sits at $28,437, according to <\/span>CoinGecko<\/span><\/a>.\u00a0<\/span><\/p>\n

Fink, who said he only found out about the situation hours later due to being \u201cbusy all day,\u201d insisted that Monday\u2019s events only proved the global need and desire for a <\/span>Bitcoin spot ETF<\/span><\/a>\u2014particularly amid ongoing international unrest.\u00a0<\/span><\/p>\n

But many others see the situation differently.<\/span><\/p>\n

Numerous Bitcoin advocates took to Twitter to mourn Monday\u2019s blunder, fearing it will be wielded by SEC chair Gary Gensler to demonstrate the Bitcoin market\u2019s volatility and the ease with which it can be manipulated. The incident, they said, could dash any hopes of a Bitcoin spot ETF being approved in the United States in the near- to medium-term.<\/span><\/p>\n

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And we just gave this guy the right to disapprove all the Bitcoin ETfs. <\/p>\n

Gary Gensler getting ready to deny all the ETFs by citing this fake news incident as evidence of potential market manipulation. #fakenews<\/a> pic.twitter.com\/DVYIdpcVTM<\/a><\/p>\n

\u2014 Coach Miranda Miner (@MiningMiranda) October 16, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

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Gensler about to nuke all the bitcoin etf applications because of market manipulation <\/p>\n

Thank you for your service<\/p>\n

\u2014 Danny Nelson (@realDannyNelson) October 16, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

While the SEC has continued to keep its cards close to its chest on BlackRock\u2019s application, the federal regulator did allude to Monday\u2019s events with a single, concise tweet.\u00a0<\/span><\/p>\n

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Careful what you read on the internet. The best source of information about the SEC is the SEC.<\/p>\n

\u2014 U.S. Securities and Exchange Commission (@SECGov) October 16, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

“Careful what you read on the internet,” the SEC wrote. “The best source of information about the SEC is the SEC.”<\/p>\n

Edited by Ryan Ozawa<\/a>.<\/i><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BlackRock CEO Larry Fink weighed in on the remarkable controversy that erupted earlier today, when a false report asserted that his company\u2019s application for an iShares Bitcoin Trust ETF had been approved by the Securities and Exchange Commission (SEC). The hoax whipped up a frenzy of excitement on social media that sent Bitcoin\u2019s price soaring […]<\/p>\n","protected":false},"author":2,"featured_media":175699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-175698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175698"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175698\/revisions"}],"predecessor-version":[{"id":175705,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175698\/revisions\/175705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175699"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}