All Eyes Are on the BlackRock-Coinbase Partnership
Could the partnership with BlackRock mark a turning point for Coinbase, which has been battered by a market slump and regulatory scrutiny?
Coinbase office in San Francisco, California.
Photographer: Michael Short/BloombergBlackRock, the world’s largest asset manager, teamed up with crypto exchange Coinbase in August in a move that both Wall Street and the crypto industry are watching closely. BlackRock says the partnership will help clients more easily manage and trade their Bitcoin. For Coinbase, it’s a validation of sorts after it suffered a record $1.1 billion dollar loss for the second quarter as crypto markets slumped. The company’s shares have fallen more than 70% this year, and it is facing regulatory scrutiny on multiple fronts.
Bloomberg reporters Yueqi Yang and Silla Brush join this episode to discuss the implications of Wall Street’s latest foray into crypto.