Over the weekend, crypto analyst Tyler Durden accused Coinbase on X platform of manipulating the market and profiting from price fluctuations by allowing BlackRock to borrow Bitcoin without providing collateral. Durden's accusation stems from a post by Tron founder Justin Sun, who criticized Coinbase's newly launched wrapped Bitcoin product cbBTC on X platform for its lack of proof of reserves or audits and the ability to freeze balances at any time. In response to these allegations, Coinbase's Armstrong said that these ETFs will be minted, destroyed, and settled within one business day on the chain, and institutional customers can choose to use trade financing and over-the-counter (OTC) options before the transaction is fully settled. Durden subsequently deleted his tweet. Bloomberg ETF analyst James Seyffart believes that this is just another false statement about ETFs. (CoinDesk)