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A crypto Index provides a way for investors to gain diversified exposure to a specific basket of digital assets through a single tokenized product. These indices often track specific sectors, such as DeFi, DePIN, or RWA, and are automatically rebalanced via smart contracts. In 2026, AI-managed thematic indices have become the gold standard for passive investing, allowing users to track the "blue chips" of the Web3 economy without manual portfolio management. This tag covers index methodology, rebalancing frequency, and the benefits of diversified crypto baskets.

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Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Spot Bitcoin ETFs see strong inflows as Ethereum funds see outflows

Spot Bitcoin ETFs see strong inflows as Ethereum funds see outflows

The post Spot Bitcoin ETFs see strong inflows as Ethereum funds see outflows appeared on BitcoinEthereumNews.com. Data from SoSoValue showed Bitcoin ETFs saw net inflows of $332.7 million. In contrast, spot Ethereum ETFs posted $135.3 million in daily net outflows. Alongside ETF flows, Bitcoin’s spot price continued its rebound this week. Spot Bitcoin exchange-traded funds (ETFs) recorded significant inflows on Tuesday, surpassing their Ethereum counterparts in terms of investor interest. Data from SoSoValue showed Bitcoin ETFs saw net inflows of $332.7 million. Fidelity’s FBTC led with $132.7 million, followed by BlackRock’s IBIT, which attracted $72.8 million. Other issuers, including Grayscale, Ark & 21Shares, Bitwise, VanEck, and Invesco, also reported net inflows during the day, according to the same data. Ethereum ETFs report $135.3 million in outflows In contrast, spot Ethereum ETFs posted $135.3 million in daily net outflows. Fidelity’s FETH accounted for $99.2 million of the withdrawals, while Bitwise’s ETHW registered $24.2 million in negative flows. The reversal comes after Ethereum products outperformed Bitcoin ETFs through August. Analysts attributed the earlier strength to what they described as a rotational shift toward Ethereum, pointing to its yield-generating features, improved regulatory outlook, and adoption by corporate treasuries. For August overall, Bitcoin ETFs recorded net outflows of $751 million, while Ethereum ETFs saw $3.87 billion in inflows, according to SoSoValue. Bitcoin price extends recovery Alongside ETF flows, Bitcoin’s spot price continued its rebound this week. At the time of writing on Wednesday, Bitcoin traded at around $111,200, after closing Tuesday above the 100-day Exponential Moving Average at $110,720. The move follows a nearly 5% correction the previous week, but the recovery suggests momentum may be stabilising. Technical indicators showed the Relative Strength Index (RSI) at 45, approaching the neutral 50 level, while the Moving Average Convergence Divergence (MACD) lines moved closer together with a fading red histogram. Both signals indicate waning bearish momentum. If the…

Author: BitcoinEthereumNews

2025/09/03

Crypto.com CEO Predicts Strong Q4 if Fed Cuts Rates at September Meeting

Crypto.com CEO Predicts Strong Q4 if Fed Cuts Rates at September Meeting

Crypto.com CEO Kris Marszalek expects a strong fourth quarter for digital assets if the Federal Reserve (Fed) cuts interest rates at its September 17 meeting, citing improved market conditions and increased liquidity for risk assets. The prediction comes as CME futures markets price a 90% probability of rate cuts following Fed Chair Jerome Powell’s dovish speech at Jackson Hole, while crypto markets position for extended rallies amid anticipated monetary easing. In an interview with Bloomberg, Marszalek revealed that Crypto.com generated $1.5 billion in revenue last year, with $1 billion in gross profit, predicting better performance in 2025 driven by lower borrowing costs and increased institutional adoption. According to him, top investment banks have approached the exchange regarding a potential IPO, but it remains privately held, enjoying operational flexibility while maintaining a solid balance sheet. Private Exchange Teases IPO Amid Trump Media Partnership Marszalek confirmed Crypto.com “has the numbers” for a public listing after multiple approaches from leading investment banks, but emphasized no decisions have been made. The company reported $300 million in profitability last year after reinvesting $700 million, undoubtedly making it one of the most profitable crypto exchanges, considering public markets. The exchange announced a partnership with Trump Media and Technology Group on August 26, establishing a treasury strategy for its native Cronos token. The collaboration extends beyond treasury management to include ETF development, payments infrastructure, and subscription services as part of broader Trump administration crypto initiatives. Marszalek described the partnership as supporting the administration’s ambitious crypto agenda. He emphasized Crypto.com’s role in executing multibillion-dollar Bitcoin strategies and providing infrastructure for various crypto initiatives. The CEO addressed potential conflict of interest concerns by noting that Trump’s assets are held in blind trusts, while Crypto.com operates as an independent, publicly traded company. He stressed that the private company structure enables rapid decision-making and strategic partnerships supporting industry advancement. Crypto.com plans aggressive expansion into prediction markets, targeting sports betting and political events through CFTC-regulated infrastructure. Fed Rate Cut Optimism Drives Q4 Crypto Rally Expectations Powell’s Jackson Hole remarks triggered widespread forecast revisions, with Morgan Stanley, Barclays, BNP Paribas, and Deutsche Bank now expecting September rate cuts. The Fed Chair acknowledged labor market weakening, citing July’s disappointing 73,000 payroll additions and downward revisions to previous months. Earlier last month, Treasury Secretary Scott Bessent called for 50 basis point cuts following “incredible” inflation data, which is a shift from the Fed’s hawkish stance. July consumer price index rose 0.2% monthly and 2.7% annually, below expectations, while core CPI reached 3.1% yearly. However, market optimism faces potential headwinds from excessive social sentiment around rate cuts. Santiment has recently warned that discussion of “Fed,” “rate,” and “cut” across social platforms reached 11-month peaks, historically indicating euphoric levels that often precede local market tops. Bitcoin exchange supply accumulation presents concerning signals, with holdings rising approximately 70,000 coins since early June. The trend reverses sustained patterns of assets being moved into cold storage, potentially indicating increased preparation by holders for liquidation. The blockchain analytics firm cited that Ethereum’s technical indicators suggest caution, despite its strong price performance, with short-term MVRV nearing 15% and long-term readings at 58.5%. These levels historically correspond with profit-taking activity and potential retracements before further advances. Amid all these, the looming replacement of the Fed Chair has sparked some debates. European Central Bank President Christine Lagarde warned that Trump’s undermining of Fed independence would create “very serious danger” for the global economy. She emphasized that political control over monetary policy would have “very worrying” implications for global economic stability. Trump intensified criticism of Powell, demanding immediate rate cuts while threatening “major lawsuits” and accusing the Fed Chair of costing America “trillions in interest costs.” The president maintains tariffs haven’t caused inflation while implementing 40% duties on Brazil and 50% on copper imports. Notably, manufacturing PMI data could influence rate cut timing, with forecasts expecting ISM Manufacturing PMI at 48.9 versus the previous 48.0.Source: Trading Economics Analysts tie the direction of the crypto market to industrial strength, noting that levels below 49.5 could extend correction periods, while improvements support recovery narratives

Author: CryptoNews

2025/09/03

Analysis Firm Reveals the Most Critical Level Following Recent Movements in Bitcoin: “This Level is Decisive”

Analysis Firm Reveals the Most Critical Level Following Recent Movements in Bitcoin: “This Level is Decisive”

The post Analysis Firm Reveals the Most Critical Level Following Recent Movements in Bitcoin: “This Level is Decisive” appeared on BitcoinEthereumNews.com. Cryptocurrency analysis company MakroVision made important assessments regarding price movements in its latest report for Bitcoin (BTC). According to the report, Bitcoin maintains its short-term downtrend and is making its first attempt at stability in the Golden Pocket (0.618–0.665 Fibonacci) region after testing the level. Analysts pointed out that a short-term recovery could begin at any time, and that the real question is how sustainable this movement will be. If the recovery is impulsive (strong and accelerating), it is stated that BTC’s next target may be lower peaks. However, if the recovery remains a correction, the price may decline back towards lower support levels. The critical point highlighted by MakroVision is the $115,800 level. The report warned that a break above this resistance level could herald a strong and sustained rally, but a weak recovery would still pose a risk of a new sell-off in the market. At the time of writing, it is trading at $110,770. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/analysis-firm-reveals-the-most-critical-level-following-recent-movements-in-bitcoin-this-level-is-decisive/

Author: BitcoinEthereumNews

2025/09/03

Ethereum (ETH) Price: Massive Whale Buying Spree Coincides with Historic Staking Queue Surge

Ethereum (ETH) Price: Massive Whale Buying Spree Coincides with Historic Staking Queue Surge

TLDR Ethereum’s staking entry queue reached a two-year high with 860,369 ETH ($3.7 billion) waiting to be staked, driven by institutional demand and network confidence Whale purchases of 260,000 ETH in 24 hours show strong institutional accumulation despite recent price decline Technical analysts project potential price targets of $8,500 to $22,000 based on ascending triangle [...] The post Ethereum (ETH) Price: Massive Whale Buying Spree Coincides with Historic Staking Queue Surge appeared first on CoinCentral.

Author: Coincentral

2025/09/03

Coinbase to launch futures product tracking Mag7 stocks and crypto

Coinbase to launch futures product tracking Mag7 stocks and crypto

The post Coinbase to launch futures product tracking Mag7 stocks and crypto appeared on BitcoinEthereumNews.com. Coinbase will launch a new futures product this month, tracking a mix of U.S. tech stocks, crypto exchange-traded funds, and its own shares in a single unified contract. Summary Coinbase will launch the Mag7 + Crypto Equity Index Futures on Sept. 22. The contract will combine exposure to U.S. tech stocks, crypto ETFs, and Coinbase shares. Institutional clients will receive access first, with retail users to follow. On Sept. 22, Coinbase Derivatives will introduce the “Mag7 + Crypto Equity Index Futures,” a first-of-its-kind derivatives product for the U.S. market that tracks the “Magnificent 7” tech stocks, which include Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. Alongside this, the index will include Coinbase’s own shares and two of the largest crypto exchange-traded funds, namely BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). “Historically, there has been no US-listed derivative that provides access to both equities and cryptocurrencies within a futures product,” Coinbase said. Every component of the upcoming index will be given an equal weight of 10% in the final mix, ensuring no single asset exerts outsized influence.  Coinbase will rebalance the index quarterly to ensure that changes in the market don’t distort the intended weightings. The company has chosen MarketBector as the official index provider. The U.S.-based crypto exchange has one goal with this novel product, which is to offer a single, capital-efficient gateway for investors to gain exposure to both legacy tech giants and blockchain-native assets, two markets that have “traditionally traded separately.” “Equity index futures mark the next evolution of our product suite and pave the way for a new era of multi-asset derivatives that broaden access, efficiency, and opportunity for investors,” it added. The contracts will be cash-settled on a monthly basis, with each representing $1 multiplied by the index value—meaning if the index…

Author: BitcoinEthereumNews

2025/09/03

Why This Crypto Cycle Just Got a Major Extension

Why This Crypto Cycle Just Got a Major Extension

Crypto cycle analysis reveals why Bitcoin bull market won’t end in October 2025. Key indicators show 6+ months remaining in current cycle.Continue reading on Coinmonks »

Author: Medium

2025/09/03

‍⚕️AI Is Creating a New Kind of Job, Fixing AI’s Mistakes

‍⚕️AI Is Creating a New Kind of Job, Fixing AI’s Mistakes

[Our AI Business Services] — [Advertise with Us!] Jobs are changing rapidly due to new technology, but not everything is negative. Yes, companies like Salesforce have slashed 4k jobs due to automation, but many other jobs are being created thanks to this tech revolution, and we will discuss. Therapists are using ChatGPT (who isn’t) and clients are upset. Are you into Fantasy sports? We share the tools that you need to get that Fantasy Super Bowl ring. Let’s dive in and stay curious. The Future of Work: Navigating AI’s Impact on the Job Market AI Is Creating a New Kind of Job, Fixing AI’s Mistakes AI Tools — Fantasy Sports Is your Therapist using ChatGPT? AI Guides — Stanford Index Reports 📰 AI News and Trends China’s Alibaba develops new AI chip to help fill Nvidia void, shares rise 19% Meta’s AI leaders discuss using Google, OpenAI models in apps OpenAI Plans India Data Center in Major Stargate Expansion Robotics and self-driving car companies are using Runway’s tech for training simulations OpenAI warns investors that AGI may make money obsolete, while raising billions of good old US dollars 🌐 Other Tech news Mastodon, X competitor, says it doesn’t ‘have the means’ to comply with age verification laws The hottest new phone is Tin Can, a ‘landline’ for kids China’s electric vehicle giants are betting big on humanoid robots The world’s most ambitious fusion energy project has reached a critical milestone as Westinghouse Electric Company takes charge of assembling the core of ITER’s fusion reactor Refer a friend The Future of Work: Navigating AI’s Impact on the Job Market The rise of AI is reshaping our world, bringing both anxiety and opportunity to the global workforce. Recent studies and insights from tech leaders like Bill Gates paint a clear picture: adaptation is no longer optional; it’s essential. But some other news are very positive, as companies like Salesforce have replaced 4,000 jobs with AI Agents. A Tale of Two Trends: Job Loss and Creation A comprehensive 2024 study reveals that while AI has eliminated 23.4% of traditional mid-skill jobs, it has simultaneously created 31.7% more new roles in areas like AI development and human-AI collaboration. The World Economic Forum echoes this, projecting that while AI could displace 85 million jobs by 2030, it may also create 97 million new ones. The net result is job growth, but it requires a significant shift in skills. The “Adaptation Gap” and the Power of Reskilling The biggest challenge we face is the “adaptation gap.” Currently, 42% of displaced workers struggle to transition into new roles due to a mismatch between their skills and the demands of the new jobs. The solution is clear: proactive reskilling. Research shows that companies that invest in retraining their workforce before roles become obsolete see a 64% higher employee retention rate. Why Some Jobs Remain Human-Centric Despite the disruption, some fields are set to thrive. Bill Gates recently argued that programming, in particular, will remain a uniquely human job. While AI can automate repetitive tasks, it cannot replicate the creativity, abstract problem-solving, and critical judgment required to write novel code and solve complex, real-world problems. Vibe coding has been all the hype lately, but letting AI will not work without and human in the loop; it will lead to hacks, exposing sensitive data, and using code that, as of today, may not be fully functional or trustworthy for established corporations. Today, you need experienced coders to code and/or make sure AI code (vibe code) is reliable and safe. Jobs at Higher Risk: Repetitive administrative and creative tasks, but some other jobs will require fewer people to accomplish, as AI will make us more productive. Jobs at Lower Risk: Roles requiring complex problem-solving, ethical judgment, and creativity. The Bottom Line for Your Career The message is consistent: AI won’t replace people, but it will empower them. The future belongs to those who embrace lifelong learning and continuous upskilling. The goal is to create a workforce that evolves with technology, rather than one that resists it. By focusing on developing uniquely human skills like critical thinking and creativity, we can not only secure our place in the future economy but also leverage AI to boost productivity and unlock new possibilities. 🧰 AI Tool Fantasy Sports FantasyPros — offers a suite of tools, including a “Coach AI” that acts as a personal fantasy football assistant. This AI-powered feature provides expert opinions, up-to-date player statistics, and advice on trades and waivers. It accesses expert rankings and projections in real-time, helping you make informed decisions about your lineup. RotoWire — AI-powered draft assistant that offers real-time recommendations during your live draft. The tool provides updated rankings and suggestions based on the picks being made. RotoWire also offers a mock draft simulator that uses AI-generated picks to help you test and refine your draft strategy. The platform can be integrated with major fantasy football hosting sites like Yahoo, ESPN, and CBS. Draft Punk — AI-powered mobile fantasy football draft copilot and mock draft simulator for Android. For the past 10 years, it has been using AI to generate accurate player projections. The app provides custom rankings tailored to your league’s unique settings and recommends players to draft based on team needs and position scarcity. RotoBot — AI is a fantasy sports platform that uses advanced AI to deliver personalized insights and answer your questions. It helps you make smarter weekly decisions by breaking down player data, curating relevant news, and offering league-specific analysis. RotoBot’s machine learning engine cuts through the noise to provide only the most impactful insights. STACKED — Fantasy football intelligence platform that syncs with your teams from ESPN, Yahoo, Sleeper, and other platforms. It consolidates all your leagues into a single interface, enabling you to manage everything from one convenient location. STACKED digests NFL content from various sources and surfaces what’s most important for your team each week. Is your Therapist using ChatGPT? A growing number of therapists are secretly using ChatGPT to help with therapy sessions and written responses, but many clients are feeling betrayed and violated when they find out. From a therapist accidentally screen-sharing ChatGPT prompts during a live session, to others sending overly polished, AI-assisted emails, patients report loss of trust, privacy concerns, and emotional discomfort — especially when handling sensitive topics like grief or trauma. A study shows that AI-written therapy responses rated higher only when users didn’t know they were AI-generated. ChatGPT isn’t HIPAA-compliant; even de-identified info can leak sensitive data. A 2020 hack of a Finnish mental health company exposed tens of thousands of therapy records, leading to blackmail and public leaks. Experts say transparency is key: AI can help overworked therapists with tasks like note-taking or writing, but undisclosed usage undermines the therapist-client relationship. As AI tools creep into mental healthcare, the balance between efficiency and empathy has never been more critical. Share 🧰 AI Guides Stanford AI Index Report: A comprehensive resource for data and trends in AI. https://aiindex.stanford.edu/report/ AI Is Creating a New Kind of Job, Fixing AI’s Mistakes Another field where AI is creating new jobs is in the AI cleanup department. Instead of replacing creatives and coders, generative AI is creating demand for “AI cleanup” work, tasks where humans fix sloppy AI outputs. Freelancers in writing, design, and development are now hired to repair buggy code, redraw broken logos, and rewrite robotic AI text. Stats & Insights: 95% of GenAI pilots show zero ROI, per MIT. Fiverr reports 250% growth in niche human-led tasks like “Shopify design” and book illustration. Upwork and Freelancer see rising demand for content strategy, emotional storytelling, and human-led branding. Writers say AI content often needs rewriting due to bland tone, generic responses, or factual gaps. Developers report unstable, unsafe apps coded by AI tools that still need human fixes. AI can generate fast content, but brands and clients still crave human creativity, precision, and emotional nuance. While many freelancers are underpaid for AI cleanup gigs, the industry shift proves one thing: AI still needs humans to look good. 👩‍⚕️AI Is Creating a New Kind of Job, Fixing AI’s Mistakes was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story

Author: Medium

2025/09/03

Virgin Bitcoin: Provenance, Premiums, and Protocol-Level Identification

Virgin Bitcoin: Provenance, Premiums, and Protocol-Level Identification

This guide provides a step-by-step process for isolating and tagging untouched Coinbase UTXOs in Sparrow Wallet, enabling you to understand their real-world value. In the digital gold rush, the purest form of Bitcoin is the kind that’s never changed hands—Bitcoin mined into existence and sent directly from a Coinbase transaction to a wallet. This is what’s known as Virgin Bitcoin, and it’s becoming increasingly valuable in a world of compliance, regulation, and institutional custody. This guide will walk you through exactly how to: Identify virgin Bitcoin within your wallet Tag and manage it using Sparrow Wallet Understand how much more it can be worth compared to regular BTC OpenAI DALL-E3 by Author What Is Virgin Bitcoin? Virgin Bitcoin refers to coins that have never been transacted beyond their original creation in a coinbase transaction—the special transaction that rewards miners when they find a new block. For a coin to be considered “virgin,” it must: Be directly mined into existence via a coinbase transaction Have no previous transaction history (i.e., no inputs except the coinbase input) Be sent directly from the miner or mining pool to your address Remain unspent since that initial movement This type of Bitcoin is as clean as it gets—completely untarnished by exchange flows, darknet markets, CoinJoins, mixers, or any kind of behavioral risk flag that could be picked up by chain surveillance tools. Why Virgin Bitcoin Is Valuable The Bitcoin protocol makes no distinction between “clean” and “tainted” coins—1 BTC is always 1 BTC. But in practice, especially among institutions, OTC desks, and regulatory-conscious entities, the provenance of a coin matters. Here’s why virgin Bitcoin carries strategic weight: Zero Taint: It’s untouched by prior transactions, making it a breeze to audit. Regulatory Compliance: Perfect for institutions and funds that require known, clean coin histories. Cold Vault Quality: Ideal for long-term cold storage, sovereign treasuries, and ETF custodians. High Trust Factor: Chain analysis firms can clearly confirm its origin, reducing legal or reputational risk. Market Premium: OTC buyers often pay more for virgin coins due to these attributes. OpenAI DALL-E3 by Author The Market Premium for Virgin Bitcoin As of August 2025, virgin Bitcoin often trades at a premium on private and institutional markets. While the base Bitcoin price is universally quoted, virgin coins can command between 2% and 20% more, depending on several factors. In smaller OTC trades, buyers may offer a 2–5% premium for verifiable virgin coins. For larger transactions—especially from known mining pools with clear chain provenance—the premium can reach 10% or more. Sovereign entities or custodians acquiring BTC for vaulting have been known to pay up to 20% for large blocks of verified virgin Bitcoin. For example, if BTC is trading at $64,000, a well-documented 5 BTC Coinbase output may sell for $67,200–$76,800 depending on the buyer and the quality of verification. How to Identify Virgin Bitcoin Using Sparrow Wallet Sparrow Wallet is one of the best tools available for managing and analyzing your Bitcoin UTXOs (Unspent Transaction Outputs). It allows you to trace individual coins back to their origin, inspect the transaction data, and tag coins with helpful labels. Here’s how to identify virgin Bitcoin in Sparrow step-by-step. Step 1: Load Your Wallet Please open Sparrow Wallet and load the wallet in question. This can be a hardware wallet, watch-only descriptor, multisig setup, or hot wallet. Ensure you’re connected to a trusted Electrum server or your Bitcoin Core full node is txindex enabled. This allows for complete transaction lookup and analysis. Step 2: Open the UTXO Viewer Navigate to the “UTXOs” tab at the bottom of the Sparrow interface. Here you’ll see a list of every unspent output your wallet controls. This is where the search for virgin Bitcoin begins. Step 3: Inspect the Transaction Details Right-click on a UTXO and choose “View Transaction.” You’re looking for the transaction’s input data. If the only input is labeled as "a,"coinbase that means it was created via a mining reward. In the transaction input section, you should see something like: Input 0: Coinbase: 03e4a1... (hex-encoded coinbase script) Sequence: ffffffff This confirms the transaction was a Coinbase payout. Next, ensure that the output address is yours (i.e., the UTXO is directly assigned to you) and that there are no intermediate outputs or signs of distribution. If you’re the first recipient and the coin hasn’t moved since, this is a virgin UTXO. Step 4: Verify with a Block Explorer Sparrow allows you to open the transaction in an external block explorer Click "Open in Block Explorer" and choose a reputable explorer, like mempool.space or oxt. Confirm that: The transaction was the coinbase for a block It was mined by a known pool (Foundry, F2Pool, Marathon, etc.) Your address is directly listed in the outputs There are no unusual outputs or mixing behaviors. Step 5: Tag the Virgin UTXO in Sparrow Once confirmed, go back to the UTXOs tab, right-click the UTXO, and choose “Label.” Use a descriptive tag like: 💎 Virgin BTC – Coinbase DirectFoundry Pool, Block #805321TXID: 6d2a... Verified 2025-08-08 This makes it easy to identify later for spending, reporting, or OTC sale. Step 6: (Optional) Tag the Address If you want to go one level deeper, open the Addresses tab, find the receiving address for the UTXO, and label it similarly: Virgin BTC Receiving Address – Coinbase TX only This can help you build a catalog of clean receiving addresses, especially useful if you’re a miner accumulating cold storage directly. Step 7: (Optional) Export Your Labels To back up your virgin coin metadata: Go to File → Export Wallet Choose to Include Labels Save the .json file to an encrypted USB or air-gapped system This preserves your tagging and analysis for long-term archival or audit-proofing.OpenAI DALL-E3 by Author Best Practices for Managing Virgin Bitcoin To preserve the value and integrity of your virgin coins, follow these guidelines: Never mix virgin coins with others in a transaction. Avoid CoinJoins, mixing, or consolidations. Use one UTXO per transaction to maintain provability. Sign messages from the receiving address if a buyer requests proof. Keep a record of the block height, TXID, and pool origin. Once virgin BTC is spent or mixed, it loses its premium status. Treat them like digital gold bars: once melted, you can’t prove their origin.OpenAI DALL-E3 by Author Final Thoughts: Purity as a Premium Virgin Bitcoin is becoming more than a technical curiosity. In a post-regulatory, chain-analyzed world, coin purity is evolving into a feature—not just a novelty. If you mine Bitcoin or receive mining pool payouts, you may already have virgin coins sitting quietly in your wallet. By using Sparrow Wallet to identify and tag these UTXOs, you unlock strategic advantages: greater liquidity in high-value OTC markets, enhanced legal defensibility, and the ability to hold what is arguably the cleanest form of Bitcoin that exists. In the end, the Bitcoin protocol doesn’t care where your sats came from. But the world might. So learn to identify, tag, and preserve your virgin coins. Because in Bitcoin, origin isn’t everything—but it might just be worth 20% more. You can sign up to receive emails each time I publish. Get an email whenever Michael Di Fulvio publishes. Here is the link to the original Bitcoin White Paper: Become a Medium member… Stories from MP Di Fulvio: Membership: Dollar-Cost-Average Bitcoin ($10 Free Bitcoin): DCA-SWAN Access to our high-net-worth Bitcoin investor technical services is available now: cccCloud We solely intend this content for informational purposes. It is not a substitute for professional financial or legal counsel. We cannot guarantee the accuracy of the information, so we recommend consulting a qualified financial advisor before making any substantial financial commitments. 🧬 Virgin Bitcoin: Provenance, Premiums, and Protocol-Level Identification was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story

Author: Medium

2025/09/03

Dialogue with BlackRock CEO Larry Fink: Bitcoin is a hedge against an uncertain future

Dialogue with BlackRock CEO Larry Fink: Bitcoin is a hedge against an uncertain future

Legends Live @Citi with Larry Fink, Chairman and CEO of BlackRock Guest: Larry Fink, Co-founder, Chairman and CEO of BlackRock Moderator: Leon Kalvaria, Chairman of Citigroup Global Bank Compiled and edited by LenaXin and ChainCatcher ChainCatcher Editor's Summary This article is compiled from the latest episode of Legends Conversation @Citi, in which Leon Kalvaria, Chairman of Citi Global Bank, speaks with Larry Fink, co-founder, chairman, and CEO of BlackRock. As of the video's release, BlackRock's assets under management have reached $12.5 trillion. How did Larry achieve this? In this episode, Larry will share his unique insights on leadership, themes from his career, and his experiences in creating a brilliant journey. ChainCatcher did the collation and compilation. Summary of highlights: What really changed Wall Street was the personal computer. The profound lessons learned were: First, we thought we had a top-notch team and market knowledge, but our thinking did not evolve with the market; second, when competing with Salomon Brothers, we were blinded by the ambition to gain market share. The foundation of the firm is the development of risk tools, and BlackRock’s culture is deeply rooted in risk technology. Artificial intelligence and financial asset tokenization will reshape future investment and asset management The essence of the asset management industry is results-oriented Investors need to seek out information that is not fully understood by the market; old news is no longer able to generate excess returns. If active investing were effective, ETFs would never have taken off. If the US economic growth rate cannot sustainably reach 3%, the deficit problem will overwhelm the country. As long as assets and liabilities are matched and deleveraged, losses will not spread into a systemic crisis. Bitcoin is a hedge against an uncertain future Only by fully committing to the whole process can we continue to have the qualifications for dialogue and the right to speak in the industry (1) How did Larry’s upbringing shape his leadership? Leon Kalvaria: How did your family background shape your unique worldview and risk-taking ability, ultimately leading to excellence with a global perspective? Larry Fink: My parents were truly remarkable. They were socialists, open-minded, and they valued two things above all else: academic achievement and personal responsibility. They often told me, " If you're not happy as an adult , don't blame your parents; blame yourself. " This indoctrination taught me the importance of independence from a young age. Starting at age 10, I worked in a shoe store, an experience that taught me how to connect with customers and build relationships. While it's uncommon for children to work so young these days, that time helped me mature early and teach me to take responsibility. It wasn't until I was 15 that I truly began to plan a more purposeful life. Leon Kalvaria: How did your West Coast academic background help you transition into a leader within an established company? Larry Fink: I first saw snow in January 1976 during a job interview in New York. I was a typical West Coast teenager, wearing turquoise jewelry, long hair, and a brown suit. Of all the firms, First Boston was the most appealing to me. They offered a personalized training program, and the trading leaders felt very approachable. They even assigned me directly to the trading desk, which was unusual at the time. Wall Street back then was completely different from what it is today. In 1976, First Boston hired only 14 people. The combined capital of all Wall Street investment banks at the time, including Goldman Sachs, Loblolly, Kuhn Loeb, Lehman Brothers, Whitewell, Merrill Lynch, and others (excluding commercial banks), was only about $200 million. At the time, investment banks operated like cottage industries, taking almost no risk. Balance sheet expansion only began after 1976. Within my first month on the trading floor, I was convinced I was qualified for the job. After my training, I was assigned to the Mortgage and Guarantee Department, which consisted of only three people, which was very exciting. (2) Larry's entrepreneurial journey Leon Kalvaria: What fundamental new understandings of finance and risk did your early experience in securitization give you? Larry Fink: What really changed Wall Street was the personal computer. Before that, there were tools like the Monroe calculator or the HP-12C. In 1983, the mortgage department was equipped with a few computers. Although they were primitive by today's standards, they allowed us to completely rethink how we assembled mortgage pools and calculated their cash flow characteristics. The ability to restructure cash flows by processing real-time data launched the securitization process. While many calculations were still done manually, the application of trading-level technology gave rise to derivatives like interest rate swaps. Wall Street was forever transformed. An important factor in the establishment of BlackRock was that the sell-side technology was always ahead of the buy-side technology. Leon Kalvaria: What was the most unexpected lesson you learned, and what insights did you gain that may have shaped your subsequent leadership at BlackRock? Larry Fink: Let me tell you about my career trajectory. I became the youngest managing director at the age of 27, joined the company's executive committee at the age of 31, and became insufferable at the age of 34 because of my arrogance. Back then, the team-first philosophy only worked when we were profitable. In 1984-1985, we were the company's most profitable division, even setting a quarterly record. But then we suddenly suffered a $100 million loss in the second quarter of 1986. This exposed the root of the problem: We were hailed as heroes when we were profitable, but when we lost money, 80% of our employees stopped supporting us . The so-called team spirit completely collapsed. I learned two hard lessons: first, I thought I had a top-notch team and market knowledge, but my thinking didn't evolve with the market; second, when competing with Salomon Brothers, I was blinded by my ambition to gain market share. Lou was fired a year before me for the same mistake, but I didn't learn from it. I've never been able to forgive myself for not speaking out forcefully when the company was blindly adding capital. We lacked risk management tools, yet we took on risks no one knew about. This experience of failure ultimately became the soil that nurtured BlackRock's growth. Leon Kalvaria: What keeps you convinced that entrepreneurship can succeed despite widespread skepticism and personal setbacks? Larry Fink: That experience definitely eroded my confidence. Although I spent a year and a half rebuilding my career, and received several partner offers from Wall Street firms during that time, I felt it wasn't right to repeat my old path. So I began exploring the possibility of transitioning to a buy-side market. Two key clients were willing to fund my startup, but I wasn't confident enough to start on my own, so I reached out to Steve Schwarzman. First Boston had helped raise some of Blackstone's first fund (approximately $545 million), and I had helped fund it, leveraging our relationships with thrift institutions. Bruce Wasserstein introduced me to Steve and Pete. They were very interested in the idea I proposed, and in fact, Steve believed in me more than I did, and I eventually became the fourth partner of Blackstone. The weekend after I resigned, I held an open house at my home. About 60 to 70 people showed up to discuss my new plans. I told some of them directly, "You'll thrive after I leave." The company was going through a period of disintegration, with some leaving and some staying, but this candor helped all parties find a more suitable path forward. (3) The Development and Importance of Aladdin Technology Leon Kalvaria: What were the key factors in BlackRock's selection to provide key advisory services to the US government during the financial crisis? Did Aladdin's early deployment of technology provide a decisive advantage? Larry Fink: When we started the company, we had two technologists out of eight people. We invested $25,000 in a SunSpark workstation, which had just been released in 1988. This allowed us to develop our own risk tools at BlackRock. From day one, the foundation of the firm has been developing risk tools, and BlackRock’s culture is deeply rooted in risk technology. When Kidder Peabody, a subsidiary of General Electric (GE), went bankrupt in 1994, we leveraged our long-standing partnership with GE to proactively offer assistance to CEO Jack Welch and CFO Dennis Damerman. While Goldman Sachs was widely expected to be hired, we, leveraging our Aladdin system, were entrusted with liquidating its troubled assets. I stated that I didn't need consulting fees and would pay after success. After nine months of operation, the asset portfolio finally became profitable, and GE ultimately paid the highest consulting fee in its history. I wanted my investment team to be able to establish themselves based on their own success and capabilities, and I wanted Aladdin to be able to compete and win against anyone. We decided to open the Aladdin system to all our customers and competitors. In 2003, we encountered the financial crisis. Leveraging our trusted relationship with the U.S. government and regulators, we shared a common philosophy in multiple rescue efforts. Bear Stearns was hired by JPMorgan Chase (JP) to analyze its asset portfolio over the weekend. While urgently assisting JP with risk assessments on Friday and Saturday, I was allowed to communicate simultaneously with Hack from the Treasury Department and Tim from the Federal Reserve. At 6 a.m. on Sunday morning, Tim called and asked for support. I responded that we needed to get permission from JPMorgan Chase CEO Jamie before we could transition to government service. To expedite the process, we were directly hired by the U.S. government. The Treasury Secretary asked, "Will American taxpayers lose money from taking over the assets?" I suggested that principal and interest be included in the calculation, because the assets had been significantly written down and the interest rate was extremely high, so taxpayers would most likely get their money back. Since then, we have been hired to handle the restructuring of AIG and the crisis responses of the governments of the UK, the Netherlands, Germany, Switzerland and Canada. (Note: American International Group is referred to as AIG.) (4) What is the purpose of the annual letter to shareholders? Leon Kalvaria: What's the core rationale behind the annual shareholder letter you've written since 2012? Is it to document key milestones, provide insights to investors, or perhaps make a strategic statement? Larry Fink: Beyond a few core themes, I never intended these letters to be manifestos. I wouldn't have written them if we hadn't acquired BGI in 2009 to become the world's largest index provider. At the time, we assumed significant equity management responsibilities, but only had voting rights, not disposal rights . This is consistent with the concept discussed by Warren. The core of the first few letters was to promote "long-termism" and think about long-term trends for long-term investors . This was the whole original intention. (Note: Leon Kalvaria jokingly called Larry Fink's shareholder letter a companion piece to Warren Buffett's letter.) (V) Major trends in reshaping asset management in the future Leon Kalvaria: From your perspective, what are the major trends that you see that will reshape your investments and asset management in the future? Larry Fink: Artificial Intelligence and the Tokenization of Financial Assets. During lunch today with a former Treasury Secretary and central bank governor, he privately admitted that the banking industry has been left behind by technology in many areas . Brazil's New Bank's innovative practices are spreading to Mexico, and digital platforms like Germany's Trade Republic are also disrupting traditional practices. These cases demonstrate the power of technology to transform. The disruptive nature of AI can be better understood by considering how it is transforming big data analytics . For example, BlackRock established an AI lab at Stanford in 2017, employing a team of professors to develop optimization algorithms. We manage $12.5 trillion in assets and process a massive volume of transactions, but technological innovation is driving us back to our roots of responsibility. Leon Kalvaria: These tools will be made available to the public. How can we ensure transparency and accountability while maintaining BlackRock's advantages? Larry Fink: Early-stage scale operators will have an advantage, which makes me worried about society as a whole. Large institutions that can afford the cost of AI technology will become the dominant ones. However, as second-generation AI becomes ubiquitous, our competitive advantage will be challenged. BlackRock's current advantage is far greater than it was a year ago or five years ago. Our investment in technology has reached a massive scale, with all of our operations underpinned by a technology architecture, including transaction processing, process optimization, M&A integration, and a unified technology platform. The scale of our investment far exceeds public perception. Leon Kalvaria: How do the three major acquisitions in the private equity sector (Prequin, HBS, and Bio) reshape investors' asset allocation landscape in the private equity market? Larry Fink: Today's earnings call reaffirmed the importance of ongoing transformation. While the 2009 acquisition of BGI (including iShares) sparked market skepticism, the strategy of "passive and active integration with full portfolio focus" has proven successful—iShares' size has leapt from $340 billion to nearly $5 trillion. By 2023, BlackRock's private equity business will have grown significantly, with infrastructure investment increasing from zero to $50 billion and private credit expanding rapidly. This unexpected surge in client demand has driven innovation, accelerating the integration of public and private equity. Technological advances will facilitate the free allocation of public and private assets, a trend that will extend to all institutional investors and even 401(k) plans. The acquisition of Prequin cost only one-third of that of its peers, but it is a key strategy: by integrating the E-Front private equity analysis platform and the Aladdin public equity system, it has established full-chain risk control capabilities for public and private assets, facilitating investment portfolio integration and deepening customer dialogue. Leon Kalvaria: What is the current state of retirement funding? Larry Fink: If you can earn 50 basis points over 30 years, your returns in the private equity market will exceed that over the long term, otherwise the liquidity risk is not worth taking. In total, your portfolio can increase by 18%. Four months ago, BlackRock hosted a retirement summit in Washington, D.C., with 50 members of Congress and the Speaker of the House of Representatives among the guests. As administrator of the federal government's retirement plans, we manage 50% of the $12.5 trillion in retirement assets. (VI) Relationships with Global Leaders and Strategic Influence Leon Kalvaria: When global leaders seek your personal advice on financial and geopolitical issues, how do you combine your investment expertise with your geopolitical risk assessment? Larry Fink: Building trust is fundamental. Since 2008, central bank governors and finance ministers have made it a practice to have in-depth conversations with me, all held behind closed doors. While there are no formal confidentiality agreements, the trust is similar to my interactions with CEOs, where the core of the conversation is confidentiality. These conversations always focus on substantive issues . I'm not always right, but my views are always grounded in history and facts. Leon Kalvaria: You have been a mentor to so many leaders for a long time, and this unique communication channel is rare. Larry Fink: The asset management industry is inherently results-oriented . We don't profit by capital turnover or trading volume, but rather by concrete results. We are deeply involved in retirement systems around the world (we are the third-largest retirement management company in Mexico, the largest foreign-invested retirement management company in Japan, and the largest pension fund manager in the UK), so we maintain a focus on long-term issues. This kind of influence cannot be replicated; it's built on years of trust . I proactively meet with new leaders (such as Claudia in Mexico and Kiel in Germany) before they take office to ensure a smooth flow of information, which is a reflection of our unique value. Leon Kalvaria: When you look back at your recent career, who have been your mentors and influences? Larry Fink: When we went public in 1999, BlackRock's market capitalization was only $700 million. We immediately attracted senior directors like Merrill Lynch CEO Dave Kamansky and General Electric's Dennis Damerman. Our board of directors has always been a core pillar of our organization. When we acquired Merrill Lynch Investment Management, we transitioned from a US-based fixed income firm to a global operation in 40 countries. During this time, I repeatedly discussed our management model with the board. Today, the board remains crucial, with Cisco CEO Chuck Robbins providing technical insights and former Estée Lauder CEO Fabrizio Freda contributing marketing wisdom. These multidisciplinary experts allow me to continue to rely on the board to drive progress. (VII) Audience Question Session Q: How will AI reshape the future investment paradigm? How do you think different investment strategies (for both individual investors and institutions) will evolve? Where will this trend head in the future? Larry Fink: Every investor needs to seek out information that the market doesn't fully understand. Traditional information (old news) no longer generates excess returns. Artificial intelligence generates unique insights by analyzing differentiated data sets. Our systematic equity team has consistently outperformed the market for 12 years. Its thematic investment strategy, based on AI algorithms and big data, has outperformed 95% of fundamental stock pickers over the past decade. But like baseball, maintaining a 30% batting average is incredibly difficult, and achieving it for five consecutive years is even rarer. Only a select few investors consistently outperform. Most fundamental investors experience dismal returns after fees, which is the core of the decline in the active management industry. If active investing truly worked, ETFs would never have taken off. Traditional asset management companies face depressed market capitalizations. Many of our peers listed in 2004 have market capitalizations of only $5 billion to $20 billion, while BlackRock's is $170 billion. This is due to our inability to invest in technological upgrades. The gap between us and traditional agencies will continue to widen. Leon Kalvaria: What is the most underestimated black swan risk in the current market? If the US economic growth rate cannot be maintained at 3% (even if inflation is controlled), what systemic crises may be triggered? Larry Fink: If the US economic growth rate cannot continue to reach 3%, the deficit problem will overwhelm the country . The deficit was $8 trillion in 2000, soared to $36 trillion 25 years later, and continues to worsen. Only by maintaining 3% growth can the debt/GDP ratio be controlled. However, the market is skeptical. The deeper risks lie in: 1. 20% of US debt is held by foreign countries. If tariff policies lead to isolationism, dollar holdings may decrease; 2. The development of domestic capital markets in many countries (e.g., BlackRock raising $2 billion in India and Saudi Arabia launching MBS business) has resulted in domestic savings being retained in the country, weakening the appeal of US Treasuries; 3. Stablecoins and currency digitization may reduce the global role of the US dollar. The solution lies in releasing private capital and simplifying the approval process . Countries such as Japan and Italy are also facing deficit crises caused by low growth. While black swan events are possible in the private credit sector, higher matching ratios mean that systemic risk in the current capital market is lower than in previous years. As long as assets and liabilities are matched and deleveraging is achieved, losses will not escalate into a systemic crisis. (8) Why did Larry’s attitude towards digital assets change? Leon Kalvaria: What were the key factors behind your evolving stance on digital assets, particularly stablecoins? Has your perspective changed due to the unexpected speed at which other institutions have embraced the space? Larry Fink: I harshly criticized Bitcoin in a discussion with Jamie Dimon, calling it a "currency for money laundering and theft." That was my view in 2017. But my reflections and research during the pandemic changed my perspective: an Afghan woman used Bitcoin to pay the salaries of female workers banned by the Taliban. With the banking system under control, cryptocurrency became a solution. I gradually realized the irreplaceable value of the blockchain technology behind Bitcoin. It's not a currency, but a "fear asset" designed to mitigate systemic risk. People hold Bitcoin out of concern for national security and currency devaluation. Even though 20% of Bitcoin is held illegally in China, it's still held by Chinese citizens. If you don’t believe that your assets will appreciate in value over the next 20-30 years, why invest? Bitcoin is a hedge against an uncertain future. The high-risk and rapidly changing environment requires us to continue learning. 9. Larry’s Leadership Principles Q: What are your core leadership principles? How do you maintain leadership consistency, especially when facing dramatic industry changes and needing to flexibly adjust strategies? Larry Fink: Daily learning is essential. Stagnation means falling behind. There's no pause button when leading a large enterprise; you have to give it your all. To be the best, you must constantly challenge yourself and hold your team to the same standard. I've been in the industry for 50 years, and I still strive to be at my best every day. Ultimately, only by fully committing to the process can one maintain a position of authority and a voice in the industry . This right must be earned daily and should never be taken for granted.

Author: PANews

2025/09/03

Alphabet stock surges 8% as court rules that Google can keep Chrome and preload deals alive

Alphabet stock surges 8% as court rules that Google can keep Chrome and preload deals alive

Alphabet’s stock price shot up 8% late Tuesday after a federal judge ruled that Google can keep both its Chrome browser and its Android operating system, despite being found guilty last year of running an illegal monopoly in search. The surge followed Judge Amit Mehta’s decision to reject the U.S. Department of Justice’s demand to […]

Author: Cryptopolitan

2025/09/03

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