Blockchain
BlackRock Bitcoin ETF: Propelling Crypto into the Financial Mainstream
The world’s largest asset manager, has caused a stir in the cryptocurrency world with its proposed Blackrock Bitcoin ETF (Exchange-Traded Fund) added five new companies as authorized participants.
The arrival of these new participants in the ETF has been seen as a bullish indicator for the price of Bitcoin. The ETF, which has accumulated over 260,000 BTC since its launch in January 2023, has become a major player in the crypto sector1. The addition of these new participants has also helped the ETF surpass $10 billion in assets faster than any other US ETF in history
A regulated and streamlined way for investors to gain exposure to Bitcoin, this ETF holds the potential to reshape the crypto landscape.
BlackRock Bitcoin ETF: A Shift in Institutional Sentiment
BlackRock’s interest in Bitcoin signals a potential sea change in how traditional financial institutions view cryptocurrencies. Here’s why this matters:
- Validation: BlackRock, a titan of the investment world, pursuing a Bitcoin ETF lends significant credibility to Bitcoin as an asset class. This development could potentially inspire other major organizations to consider investing in cryptocurrency.
- Accessibility: A regulated Bitcoin ETF removes hurdles for institutional investors who may hesitate to navigate the complexities of directly buying and storing cryptocurrency. It paves the way for more extensive capital inflows.
- Evolving Perceptions: BlackRock’s actions challenge the long-held skepticism within traditional finance toward cryptocurrencies. The firm’s evolving stance reflects a growing recognition of Bitcoin’s potential for long-term value and its role in a diversified portfolio.
- Partnership with Coinbase: In 2022, BlackRock’s partnership with Coinbase, a major cryptocurrency exchange, further solidified its commitment to offering Bitcoin exposure to its clients. This strategic move strengthens their position within the emerging crypto investment landscape.
Lingering Considerations

While BlackRock’s Bitcoin ETF represents a significant step, it’s important to remember:
- Regulatory Hurdles: The approval process for a spot Bitcoin ETF in the US remains uncertain, and regulatory challenges may still lie ahead.
- Market Volatility: Bitcoin, like other cryptocurrencies, is known for price volatility. This risk factor remains present despite the potential benefits of a regulated ETF.
The entire repercussions of this move remain to be seen in the future, but it represents an increasing acknowledgment of Bitcoin’s significance in the shifting investment environment.
Pros and Cons of BlackRock’s Bitcoin ETF
Pros:
- Convenient, Regulated Access: BlackRock’s ETF offers a familiar and regulated way to gain exposure to Bitcoin. Investors can trade the ETF on traditional stock exchanges, eliminating the need to set up a cryptocurrency wallet or navigate complex exchanges. This ease of access can attract new investors who might have hesitated to enter the crypto market directly.
- Diversification: Bitcoin can act as a hedge against inflation and traditional market downturns due to its limited supply and lack of correlation with other asset classes. Including a Bitcoin ETF in a portfolio can offer diversification benefits, potentially reducing overall portfolio risk.
- Price Tracking: The ETF allows investors to track the price movements of Bitcoin within the framework of established financial markets, helps to ensure transparency, and eliminates the need to monitor multiple cryptocurrency exchanges separately.
- Potential for Lower Fees: While ETFs typically have management fees, BlackRock’s scale and reputation could lead to a competitively priced ETF compared to other options. Lower fees would improve overall returns for investors.
Cons:
- Management Fees: As mentioned earlier, ETFs have fees that eat into returns. Investors should consider these fees when comparing the ETF’s performance to the underlying asset (Bitcoin).
- Loss of Direct Control: ETF investors don’t directly own Bitcoin but hold shares that represent it. They have no control over Bitcoin and are subject to the custodian’s security measures.
- Centralization Concerns: Some argue that Bitcoin ETFs could contribute to the centralization of the Bitcoin network. If a limited number of large institutions hold a significant portion of the ETF, it could concentrate control and potentially go against the decentralized philosophy behind Bitcoin.
Additional Considerations:
- Tracking Error: A potential drawback of ETFs is tracking error, which occurs when the ETF’s performance deviates from the underlying asset. Investors should understand how BlackRock’s ETF is structured and how closely it tracks the price of Bitcoin.
- Tax Implications: Tax regulations on cryptocurrency can be complex. Investors should research the tax implications of investing in a Bitcoin ETF in their country’s jurisdiction.
- Bitcoin’s Immaturity: The cryptocurrency market is still relatively young, and Bitcoin, like other cryptocurrencies, is a volatile asset, meaning that Investors should be comfortable with a higher degree of risk before considering a Bitcoin ETF.
The Crucial Role of Authorized Participants: Market Makers of the Bitcoin ETF
Authorized Participants (APs) are the backbone of the ETF ecosystem, and their role is particularly vital in a Bitcoin ETF. Essentially, these APs, which are typically large financial institutions, are responsible for:
- Creation and Redemption: APs have an exclusive agreement with BlackRock, allowing them to create new ETF shares when demand is high and redeem existing shares when supply outpaces demand. This mechanism helps maintain the balance between the ETF’s share price and the underlying value of the Bitcoin it represents.
- Liquidity: APs inject liquidity into the market, ensuring smooth trading of the ETF and preventing large price swings due to imbalances in supply and demand.
- Arbitrage Opportunities: APs closely monitor the ETF’s price about the value of its Bitcoin holdings. If discrepancies arise, they can exploit these pricing gaps through arbitrage, ensuring the ETF’s price stays aligned with Bitcoin’s market value.
Who’s Involved: BlackRock’s Authorized Participants

BlackRock has enlisted reputable and well-established financial institutions as APs for its Bitcoin ETF. These include:
- Goldman Sachs
- Citigroup
- UBS
- Citadel Securities
- ABN AMRO
- Jane Street Capital
- JPMorgan
- Macquarie
- Virtu Americas
The Significance of BlackRock’s Bitcoin ETF
The involvement of these established financial giants as authorized participants lends credibility and stability to BlackRock’s Bitcoin ETF. It signals institutional confidence in the ETF’s structure and their willingness to participate in the cryptocurrency market in a regulated manner, potentially leading to an increase in the overall investor interest in the ETF.
Potential Impact of BlackRock’s Bitcoin ETF on the Crypto Market
BlackRock’s Bitcoin ETF could have substantial effects on the cryptocurrency market:
- Increased Adoption: Simplifying the investment process might attract new capital and boost Bitcoin’s adoption.
- Enhanced Liquidity: The ETF could improve liquidity within the Bitcoin market.
- Regulatory Scrutiny: An approved ETF might accelerate regulatory oversight of the crypto space.
- Market Volatility: ETF-driven demand could contribute to price fluctuations in the short term.
BlackRock’s Bitcoin ETF: A Catalyst for Change
BlackRock’s proposed Bitcoin ETF signals a potential watershed moment for the cryptocurrency industry.
It could usher in a new era of broader adoption and institutional investment. However, as with any investment, it’s crucial for individuals to carefully assess the potential benefits and risks before making decisions.
The involvement of authorized participants and BlackRock’s entry into the crypto space will significantly impact the market’s evolution.
Whether investing in BlackRock’s Bitcoin ETF aligns with your personal risk tolerance and investment strategy is a decision that requires careful deliberation.
Blockchain
Cross River Bank Launches Integrated Stablecoin Payment Platform
Cross River Bank has launched a stablecoin payment infrastructure integrated directly into its core banking system, marking a major milestone for blockchain-powered finance in 2025. Led by CEO Gilles Gade, the initiative enhances interoperability between fiat banking rails and blockchain networks while ensuring compliance and enterprise-grade security.
This upgrade bridges the gap between stablecoins and traditional banking, offering businesses a faster settlement environment and stimulating market interest through improved payment efficiency and regulatory alignment.
Cross River Bank’s new platform enables seamless interaction between stablecoin transactions and traditional accounts. By embedding the technology into its core system, the bank removes friction typically associated with blockchain payments, creating a unified and compliant framework for real-time transactions. CEO Gilles Gade emphasized the significance of this shift, stating, “We’re building the future of finance… reimagining every corner of banking—from BaaS to lending—to deliver a faster, more connected financial world grounded in safety and trust.” The platform, developed under the leadership of Luca Cosentino, strengthens financial networks through automation, transparency, and speed.
The launch is expected to accelerate stablecoin adoption across business payments and treasury operations. Enterprises seeking secure, blockchain-based financial tools now gain access to a regulated platform capable of handling real-time settlements without compromising compliance. This positions Cross River as one of the first banks to deliver a stablecoin-integrated environment for fintechs, payment processors, and corporate clients.
Industry analysts view this as a pioneering shift. Previous attempts at stablecoin integration often relied on external platforms or fragmented systems. Cross River’s unified ledger approach resolves these issues by offering interoperability, strict compliance, and direct banking support. The move could reshape how enterprises interact with digital assets, enhancing operational efficiency as regulatory clarity around stablecoins continues to evolve globally.
With this step, Cross River Bank moves into a leadership role in the adoption of programmable money, setting the stage for broader integration of blockchain tools within traditional financial services.
Blockchain
AlphaTON Files $420M Securities Offering to Accelerate TON & Cocoon AI Expansion
AlphaTON has officially filed a massive $420.69 million shelf registration, marking a major step forward in the company’s transformation into a core infrastructure provider for the TON blockchain and Telegram’s Cocoon AI ecosystem. The filing became possible after AlphaTON exited the SEC’s “baby shelf rules,” which had previously capped how much capital it could raise in a given year.
According to the company’s December 4 announcement, AlphaTON now has the regulatory flexibility to issue a wide range of securities—common stock, preferred stock, debt instruments, warrants, or mixed units—across multiple offerings whenever market conditions are favorable.
Flexible Funding for AI, GPU Infrastructure, and TON Growth
Now free from earlier fundraising restrictions, AlphaTON plans to use the shelf registration to drive its next phase of expansion. The company outlined several target areas for the funds:
- Scaling GPU infrastructure to support Cocoon AI, Telegram’s fast-growing decentralized compute ecosystem
- Expanding deployments of Nvidia B200 GPUs through partnerships with CUDO Compute and AtNorth
- Funding acquisitions of Telegram- and TON-native businesses
- Strengthening its digital asset treasury, including ongoing accumulation of TON ecosystem tokens
CEO Brittany Kaiser emphasized that the expanded fundraising capacity allows AlphaTON to “move quickly and decisively” as demand surges for high-performance compute resources powering Cocoon AI.
Acquisitions Targeting Telegram’s 1B User Ecosystem
A large portion of AlphaTON’s strategy focuses on buying revenue-generating businesses already embedded in the Telegram and TON ecosystem. These include startups working on:
- Blockchain-enabled financial tools
- Content and creator platforms
- Payment solutions
- Gaming infrastructure
- Decentralized services for Telegram’s massive user base
Each acquisition is expected to strengthen AlphaTON’s portfolio of cash-flowing assets directly linked to Telegram’s growing Web3 environment.
Deepening Commitment to TON and Digital Assets
AlphaTON has steadily increased its exposure to the TON ecosystem since rebranding from Portage Biotech in September 2025. Its strategy includes:
- Accumulating TON and related tokens such as GAMEE
- Operating validators and staking nodes to earn yield
- Deploying GPU fleets for decentralized AI workloads
- Increasing participation in TON-linked financial instruments
This direction aligns the company with two of the fastest-growing sectors in the blockchain industry: decentralized compute and real-world ecosystem tokenization.
Positioning for a Decentralized AI & TON-Dominated Future
The new $420 million shelf registration comes at a pivotal time. Interest in decentralized AI compute is surging, and TON has rapidly expanded into one of the most active blockchain ecosystems in the world—powered largely by Telegram’s billion-user network.
With new capital flexibility, AlphaTON is now positioned to:
- Scale its infrastructure at a faster pace
- Capture larger segments of the TON and Cocoon AI markets
- Expand its holdings across digital assets and AI-driven services
- Strengthen its operational footprint ahead of future strategic milestones
AlphaTON’s latest filing indicates a company entering an aggressive expansion cycle, with significant implications for the future of TON, Telegram’s AI ecosystem, and decentralized compute infrastructure.
Blockchain
Meteora: The Liquidity Machine That Crawled Out of the Ruins
How a forgotten protocol rebuilt itself into Solana’s liquidity backbone—and the battles that shaped its rise.
It All Started With a Name Everyone Forgot
On Solana, projects rise and vanish faster than most people can track. When the FTX collapse tore through the ecosystem in late 2022, Mercurial became one of the many casualties.
Its treasury was trapped, its token collapsed, and the once-active community faded into silence.
Most people moved on.
But a small faction didn’t.
The group that would eventually build Meteora refused to walk away. They knew Mercurial couldn’t be revived—the damage was too deep. So instead of trying to fix the past, they chose to rebuild everything from scratch.
Their mindset shifted:
“Don’t repair the old machine. Build something engineered for Solana’s speed.”
And so Meteora was born—not a rebrand, but a complete reboot designed to answer one question:
What should liquidity look like on a chain that operates faster than anything else in crypto?
Where Meteora Began: Reinventing Liquidity
The answer became the Dynamic Liquidity Market Maker (DLMM).
Unlike traditional AMMs with smooth pricing curves, DLMM uses:
- Discrete price bins
- Zero-slippage trades inside each bin
- Bin-to-bin price progression
- Real-time liquidity intelligence
This wasn’t a pool—it was a high-speed liquidity engine, built to operate in milliseconds, just like Solana itself.
By early 2024, momentum exploded:
- Trading volume surged
- TVL stabilized
- Market makers migrated from Raydium and Orca
- Jupiter began routing heavy flow to DLMM
By early 2025, Meteora was processing $33 billion in monthly volume.
A protocol once written off as dead had become Solana’s liquidity backbone.
But Solana rewards speed—and punishes hesitation.
And soon, Meteora faced the first real test of its new era.
Glory and Pressure in the Age of Algorithms
DLMM turned Meteora into a star.
LPs earned more, traders got better quotes, and Jupiter treated DLMM as the default route.
Then came HumidiFi—out of absolutely nowhere.
It had:
- No front end
- No community
- No public LPs
- Zero transparency
Yet it instantly competed with Meteora.
Sometimes it even won.
Why?
HumidiFi operated like a dark pool on Solana, run by a private market-making entity.
Its spreads were razor-thin—as low as five basis points.
Jupiter didn’t care about decentralization.
It cared about the best price.
For Meteora, this wasn’t just rivalry—
It was an existential question:
Can open liquidity survive in a market where secrecy performs better?
DLMM’s full transparency—once its greatest strength—became a tactical weakness.
Competitors could study it in real time.
HumidiFi revealed nothing.
As one developer joked:
“Meteora showed everyone its engine. HumidiFi covered its engine in smoke—and somehow went faster.”
And just as the team began adapting to this new reality, a storm hit from an entirely different direction.
The TGE That Tested Everything
On October 23, 2025, Meteora launched its long-awaited token through a “Liquid Launch”:
- No lockups
- No VC allocations
- No vesting
- Nearly half of the supply—48%—released on day one
It was radical transparency.
But Solana moves at lightning speed.
Within seconds, the entire float was absorbed.
Sell pressure exploded.
Buy walls couldn’t form fast enough.
Within days, $MET fell over 70%.
Supporters admired the honesty.
Critics called it irresponsible.
Before sentiment recovered, another blow landed:
Co-founder Ben Chow was named in a class-action lawsuit tied to unrelated memecoin projects.
It wasn’t connected to Meteora—but timing is everything in crypto.
Confidence slipped.
FUD spread.
Every crack became visible.
But the engine?
It kept running.
- DLMM executed flawlessly
- Billions flowed through daily
- LP yields held strong
- Jupiter kept routing to Meteora
Beneath the surface, the real question lingered:
Can a radically transparent protocol survive in a market that rewards shadows?
What Comes Next
By early 2026, Meteora made its move—not by retreating, but by doubling down.
Key initiatives included:
Launch Suite 2.0
A rebuilt, safer, more transparent token-launch framework.
Enhanced Anti-Bot Infrastructure
Designed for Solana’s extreme speed environment.
DLMM Upgrades
Faster bin adjustments, better fairness, smarter liquidity logic.
HumidiFi remained a rival—but Meteora chose not to copy it.
Instead, it leaned harder into:
- Openness
- Design precision
- Engineering excellence
Their philosophy became clear:
You don’t beat dark pools by becoming a dark pool—you beat them by out-engineering them.
A Protocol Forged in Chaos
Solana hasn’t slowed down, and neither has Meteora.
Despite storms, controversies, rivals, and market volatility, Meteora continues to anchor massive trading flows across the network. Its story mirrors Solana’s own:
- Brutal
- Fast
- Relentless
- Always moving forward
Born in collapse.
Rebuilt through innovation.
Tempered by volatility.
Meteora is no longer a comeback story—it’s a reminder of what still drives Solana:
Speed, risk, and the belief that better systems are always possible.
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