【Bloomberg analyst: "Coinbase issues Bitcoin IOU to BlackRock" is a rumor and conspiracy theory】 Golden Finance reported that earlier this week, crypto analyst Tyler Durden accused Coinbase on the X platform of allowing BlackRock (the issuer of the largest spot Bitcoin exchange-traded fund) to borrow Bitcoin (IOU: I owe you) without providing collateral, which would allow market manipulation and profit from the resulting price fluctuations. Coinbase CEO Brian Armstrong explained that these ETFs are minted, destroyed and settled on-chain within one business day, and institutional clients can choose to use transaction financing and over-the-counter options before the transaction is fully settled. Bloomberg ETF analyst James Seyffart said: "I don't believe these rumors and conspiracy theories at all. This is just another in a series of negative comments about ETFs." Seyffart reiterated that more issuers (including BlackRock) need to share digital wallet addresses to the public to increase transparency. Bloomberg senior ETF analyst Eric Balchunas criticized the Bitcoin community for blaming the recent market selling pressure on ETFs, "rather than self-reflection." “People who invest in BTC are generally skeptical of governments and institutions (which I understand),” he wrote in an article on X. However, BlackRock is “not kidding” and the asset manager would “go crazy” if Coinbase “was playing with their Bitcoin.”