🪨BlackRock Swoops In: DeFi Week of June 18

Happy weekend Defiers!

This week saw major TradFi players enter the crypto space, with a new custodial crypto exchange backed by legacy incumbents Citadel Securities and Charles Schaub, plus a spate of filings for Bitcoin ETFs, including one from the world’s largest asset manager, BlackRock.

The markets pulled off a bullish turnaround after the previous week’s regulatory actions from the SEC targeting centralized exchanges. But critics are now slamming the U.S. regulatory crusade against crypto for clearing the way for legacy financial institutions to position themselves to profit from the next bull cycle.