• Robinhood is one of the three biggest Bitcoin wallets, alongside Binance and Bitfinex.
• The SEC recently charged Impact Theory with an unregistered NFT offering.
• BlackRock is increasing its exposure to Bitcoin by investing in the top five miners of the flagship digital asset.
Robinhood Ranks Amongst Largest Bitcoin Wallets
Robinhood ranks amongst the largest Bitcoin wallets alongside Binance and Bitfinex, as it holds over $3 billion worth of BTC. This news comes shortly after Binance was rumored to be exiting the Russian market.
SEC Expands Enforcement Actions To NFT Market
The U.S Securities and Exchange Commission (SEC) has taken action against Impact Theory for their ‘unregistered NFT offering’, expanding their enforcement actions to include the non-fungible token (NFT) market. Additionally, Bankman-Fried and attorneys have been hit with 4 million pages of discovery documents from U.S government officials, while Rep. Patrick McHenry labelled proposed crypto tax rules an ‘attack on the digital asset ecosystem’.
Blackrock Invests In Top Five Miners Of FlagShip Digital Asset
BlackRock has a pending spot Bitcoin ETF application before the SEC as they increase their exposure to Bitcoin by investing in top five miners of the flagship digital asset; Riot Platforms, Marathon Digital, Cipher Mining , Hut 8 Mining, and TeraWulf Inc.. As a result of recent price struggles these miners have lost between 11% and 42% of their stock value in just one month, making it easier for BlackRock to increase its position as a significant shareholder across these firms.
Hut 8 Is Last Investment For Blackrock
Of these five miners mentioned above, Hut 8 is the only one that BlackRock has yet to invest in; however this could soon change if they are able to take advantage of current dips in values seen across all miners due to recent price struggles associated with Bitcoin itself.