How BlackRock’s New Fund on Ethereum Got a Very Crypto Welcome - Ep. 623

Unchained

Laura Shin

Business News, News, Tech News

4.6 • 1.3K Ratings

🗓️ 22 March 2024

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. On Wednesday, BlackRock, the world's leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize. Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability. Learn more: What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide He also talks about how Blackrock has embraced crypto, how the launch of the fund was “front run” by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH. Show highlights: What the BUIDL fund is, its essence and objectives How the fund rewards its users, with a system similar to crypto airdrops Whether they were worried about regulatory aspects of bringing this product onchain Securitize's role in the partnership with BlackRock How much money flowed into the fund on the first day and who the target investor is Why BlackRock decided to build this product on Ethereum What BlackRock's attitude towards crypto is, according to Carlos How the launch of the fund was frontrun by crypto insiders How a wallet associated with the fund received unintended funds from North Korean tied wallets and whether Ethereum should implement a mechanism for addresses to approve funds that are sent to it Whether the contract is secure and what steps Securitize is taking to increase the safety of the users The roadmap for the partnership between BlackRock and Securitize Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Carlos Domingo, Founder and CEO of Securitize Previous appearance on Unchained: Could Securitize Democratize Access to Different Asset Classes? Links Previous coverage on Unchained of real world assets: The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets? The Chopping Block: Will Tokenizing RWAs Finally Click This Time? MakerDAO Has Brought in Real World Assets. Is It Worth the Risk? BlackRock USD Institutional Digital Liquidity (BUIDL) Fund The Block: BlackRock to launch tokenized investment fund with Securitize Unchained: BlackRock's Institutional Fund Wallet Receives Unsolicited ETH From Tornado Cash Within Hours of Launch BlackRock Receives Memecoins and NFTs After Putting $100 Million USDC Onchain Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	And I think Black Dog is a very, now that I've got to know them a little bit, I would say,
0:04.0	it's a very forward-thinking company that they see where the future is.
0:08.0	And if the future is a public blockchain and you're going to start there, why would you not start
0:12.0	a public blockchain instead of a private
0:13.2	budget? Heads up everyone. In the next few weeks we're launching a new show on the
0:17.5	unchained channel called Bits and Bips, exploring how crypto and macro collide
0:22.1	one basis point at a time.
0:24.0	As you can guess, it's a show all about crypto and macro topics and where they intersect.
0:28.0	We started with a dry run the other day, and the show was so good we decided to tease a few moments in this
0:33.5	podcast. The speakers you'll hear Pepper throughout this episode include Alex
0:37.6	Kruger of Asgard markets, James Seifert of Bloomberg Intelligence, and
0:41.5	Ram Alawalia of Luma do Wealth.
0:44.0	We'll play the first clip from Bits and Bips featuring Alex Now and then it'll be on to the main show.
0:49.0	Solana has delivered what Ethereum could not is the it's actually the ultimate retail
0:57.9	speculation platform to put it in a way and what we see right now is on one hand we're seeing a lot of people realizing this and therefore buying Solana because of the insane volumes that we're seeing and engagement.
1:10.0	And on the other hand, the two things are happening. One is all the crypto speculators in bull markets they think in crypto.
1:21.0	So therefore when they take profits, they take profits into Solana and when they buy,
1:28.3	they buy Sol first and we sold they buy into the min coins.
1:34.7	And the other thing is if you look at these,
1:37.7	the pools of these min coins,
1:40.3	they're all paired against Solana.
1:44.0	Why is this important?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.