April

PEPE&#8217;s rise has ignited renewed investor interest in memecoins as a whole, and the frenzy continued even as bitcoin&#8217;s 2023 rally stalled.
A wallet bearing the name of investment giant BlackRock withdrew 1.27 trillion PEPE (which is worth around $1.98 million) from Binance to four addresses on May 18th.
<ul>
<li>According to Lookonchain&#8217;s <a href="https://twitter.com/lookonchain/status/1659079335620362241" target="_blank" rel="noopener" data-wpel-link="external">data</a>, these four addresses use the same Binance deposit address as blackrockfund3.eth.</li>
<li>On April 21, BlackRock Fund purchased 1T PEPE (worth around $244K at that time) at an average price of $0.0000002431 and sold the entire stash (worth $2.63 million at that time) at an average price of $0.000002627 on May 5, profiting 10x, i.e., approximately $2.39 million in the process.</li>
<li>The on-chain platform speculated that the four addresses were most likely created by the American investment company.</li>
<li>While it&#8217;s not unusual for prominent market players to embrace memecoins, many in the community were skeptical of BlackRock&#8217;s participation in the frenzy primarily because it is the world&#8217;s largest asset manager.</li>
<li>Despite being reluctant to tap the industry at first, BlackRock steadily boosted its portfolio allocation of crypto and subsequently gained prominence with its<a href="https://cryptopotato.com/blackrock-taps-coinbase-for-institutional-crypto-trading-and-custody-services/" target="_blank" rel="noopener" data-wpel-link="internal"> Coinbase partnership</a>.</li>
<li>BlackRock was also one of the high-profile investors of FTX. Hence, the notion of the investment giant jumping on the PEPE bandwagon just months after <a href="https://cryptopotato.com/from-tom-brady-and-steph-curry-to-blackrock-some-of-the-ftx-investors-and-partners/" target="_blank" rel="noopener" data-wpel-link="internal">losing</a> $24 million in the collapsed crypto exchange appears highly unlikely.</li>
<li>In an annual <a href="https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter" target="_blank" rel="noopener" data-wpel-link="external">letter</a> to shareholders, BlackRock&#8217;s chief executive Larry Fink said the asset manager is exploring permissioned blockchains and tokenization of stocks and bonds areas of the digital asset ecosystem.</li>
</ul>
The post <a href="https://cryptopotato.com/alleged-blackrock-wallet-address-withdrew-1-2m-worth-pepe-on-chain-data/" rel="nofollow">Alleged BlackRock Wallet Address Withdrew $1.2M Worth PEPE: On-Chain Data</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Alleged BlackRock Wallet Address Withdrew $1.2M Worth PEPE: On-Chain Data

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