A boost for cryptocurrencies with Coinbase: it allies with BlackRock to reach more people and overcome its ‘Annus horribilis’

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Yesterday we echoed an attack on Solana that had not yet found a solution was weighing down one of the largest cryptocurrencies in the world; we constantly know of falls in the value of bitcoin; in June Binance and Celsius had serious problems and this ended with the latter going bankrupt after having its investors in suspense.

Well, in the midst of so much bad news, a very good news finally arrives: Coinbase has allied with BlackRock. The well-known exchange has announced an alliance with BlackRock, the world’s largest investment fund with assets under management in excess of $10 billion. Through this alliance, it has been stated that BlackRock will allow its institutional clients to buy with Bitcoin on its own platform, called Aladdin.

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According to this alliance, Coinbase will be responsible for the trading, custody and reporting of cryptocurrency trading, while BlackRock will adapt its tool. So, BlackRock puts a huge number of clients and this good news has shot the shares up more than 40%.

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Coinbase’s ups and downs this year

This week we have Coinbase grow over 50% to break above $90 a share. end of may had registered 50 dollars per share, so growth is positive. But don’t forget that this firm was $200 a share at the beginning of the year.

All this has led to a serious problem for the workers (or former workers) of the firm. In June, the firm fired more than 1,000 workers via email, 18% of its workforce, and with this trend that we are seeing lately of companies announcing massive layoffs.

A few days before this dismissal we published how Coinbase was terminating jobs for people who had not yet started. This led to people who had already left their jobs or had gotten a visa to move out of the country, or even people who had already moved out of town, to start working at Coinbase soon, found themselves stranded, jobless, just a few days before starting at the company’s offices.

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