Brian Armstrong, founder and CEO of Coinbase, denied rumors about selling "paper bitcoin" to BlackRock without 1:1 collateral. 💼

Armstrong said that all bitcoin transactions for BlackRock ETFs are transparent and take place on the blockchain. He emphasized that Coinbase undergoes an annual audit by Deloitte, the results of which are available for verification.

Bloomberg analyst Eric Balchunas also rejected the accusations, noting that ETFs help stabilize the price of bitcoin. 📈