🚀 Breaking News: Coinbase CEO Brian Armstrong Clears the Air on Bitcoin Allegations! 🚀

In a recent statement, Coinbase CEO Brian Armstrong has firmly denied rumors that the company sold "paper Bitcoin" to BlackRock without maintaining a 1:1 backing. Addressing concerns from crypto analyst Tyler Durden, Armstrong emphasized that all transactions for BlackRock's spot Bitcoin ETF are transparent and on-chain. 🌐

Armstrong reassured the community that Deloitte audits Coinbase annually, ensuring transparency. He also highlighted privacy concerns, stating that institutional clients' wallet addresses cannot be shared. 🔒

Bloomberg analyst Eric Balchunas supported Armstrong, noting that ETFs like BlackRock's have helped stabilize Bitcoin during market volatility. 📉📈

Stay tuned, Bitcoin enthusiasts! 🌟