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Larry Fink, the CEO of BlackRock, made an appearance on CNBC&#39;s Squawk on the Street on Friday, fuelling renewed discussion about the firm&#39;s recent filing for a Bitcoin Exchange-Traded Fund (ETF) with the SEC.<img src="https://media.licdn.com/dms/image/D4D12AQG7R5RIz6S46A/article-inline_image-shrink_1000_1488/0/1689379717500?e&#61;1694649600&amp;v&#61;beta&amp;t&#61;rnnvI4t68sBOPSa3W4AlNzaQvkJnyJRTgr1iRqomXko" />BlackRock CEO, Larry FinkDuring the interview, Fink respected the restrictions and did not discuss Bitcoin directly since BlackRock&#39;s Bitcoin ETF application is still pending. However, he shared insightful comments about the broader cryptocurrency market.Fink emphasized BlackRock&#39;s commitment to making investing accessible to everyone, stating that ETFs have transformed the investment landscape.He drew a comparison between crypto ETFs and the introduction of gold ETFs, which significantly reduced transaction costs and made gold investing more accessible to average investors.Fink however acknowledged the current challenge of high transaction costs in the crypto market, highlighting the need for a solution to address this issue. He mentioned that the cost to transact in crypto is currently high, using the analogy of &#34;points&#34; rather than &#34;decimal points.&#34;BlackRock, the world’s largest asset manager, has obviously shown a vested interest in democratizing investing. The firm&#39;s application for a Bitcoin ETF has attracted significant interest from institutional investors, indicating a significant shift in the financial industry.An approval of a Bitcoin ETF may yet be another much-needed victory, after the XRP ruling, to serve as a reprieve for a crypto industry that has been through the wringer in recent months.Fink also recognized the growing interest in crypto from global investors over the past five years, emphasizing its international nature. He stated that crypto has unique value compared to other asset classes and is not tied to a single currency or its valuation.Fink&#39;s current perspective on crypto is quite interesting considering his previous skepticism about the industry in 2018 when he stated that BlackRock would not engage in crypto until it became &#34;legitimate.&#34;With BlackRock&#39;s ETF application in full swing, Fink may believe crypto to have met the necessary legitimacy criteria.While Fink couldn&#39;t provide specific details about the Bitcoin ETF application due to the ongoing SEC filing, his overall comments reflect an openness to further integrating crypto assets into BlackRock&#39;s investment strategy.Catch up on our published articles for the week!NEWS●  Former Celsius CEO Alex Mashinsky Released on $40 Million Bond &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/former-celsius-ceo-alex-mashinsky-released-on-40-million-bond/" rel="noopener noreferrer nofollow"> Read more</a>.●  Hollywood Studios Controversial AI Sparks Debate Amidst Looming Strike Action &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/hollywood-studios-controversial-ai-sparks-debate-amidst-looming-strike-action/" rel="noopener noreferrer nofollow"> Read more</a>.●  Crypto Exchanges Resume XRP Trading After Ripple’s Partial Victory Against U.S. SEC &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/crypto-exchanges-resume-xrp-trading-after-ripples-partial-victory-against-u-s-sec/" rel="noopener noreferrer nofollow"> Read more</a>.●  Monochrome Submits Updated Application for First Bitcoin ETF on Australian Securities Exchange &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/monochrome-submits-updated-application-for-first-bitcoin-etf-on-australian-securities-exchange/" rel="noopener noreferrer nofollow"> Read more</a>.●  Meta Set to Release Commercial AI Model to Challenge OpenAI’s Dominance &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/meta-set-to-release-commercial-ai-model-to-challenge-openais-dominance/" rel="noopener noreferrer nofollow"> Read more</a>.●  Binance Labs Invests $15 Million in Xterio to Accelerate Web3 Gaming &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/binance-labs-invests-15-million-in-xterio-to-accelerate-web3-gaming/" rel="noopener noreferrer nofollow"> Read more</a>.●21 Organizations Challenge U.S. House’s Bill on Crypto Market Structure &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/21-organizations-challenge-u-s-houses-bill-on-crypto-market-structure/" rel="noopener noreferrer nofollow"> Read more</a>.●  OKX Surpasses 10,000 New User Registrations in Hong Kong Following Launch of Enhanced App &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/okx-surpasses-10000-new-user-registrations-in-hong-kong-following-launch-of-enhanced-app/" rel="noopener noreferrer nofollow"> Read more</a>.●   Europe’s First Bitcoin ETF Set To Launch After Year-Long Delay &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/europe-s-first-bitcoin-etf-set-to-launch-after-year-long-delay/" rel="noopener noreferrer nofollow"> Read more</a>.●   AI Will Have the Most Impact on Highly Skilled Occupations – OECD&gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/ai-will-have-the-most-impact-on-highly-skilled-occupations-oecd/" rel="noopener noreferrer nofollow"> Read more</a>.●  Google Hit with $5 Billion Lawsuit Over Unauthorized Data Usage in AI Training &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/google-hit-with-5-billion-lawsuit-over-unauthorized-data-usage-in-ai-training/" rel="noopener noreferrer nofollow"> Read more</a>.●  Blockchain Technology Could Enhance SBA’s Oversight of Small Business Programs – U.S. GAO &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/blockchain-technology-could-enhance-sbas-oversight-of-small-business-programs-u-s-gao/" rel="noopener noreferrer nofollow"> Read more</a>.●   ARK Invest Sells $12M Worth of Coinbase Shares &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/ark-invest-sells-12m-worth-of-coinbase-shares/" rel="noopener noreferrer nofollow"> Read more</a>.●  U.S. Judge Refuses to Rule on Whether Secondary Sale of LBC Qualifies as Security &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/u-s-judge-refuses-to-rule-on-whether-secondary-sale-of-lbc-qualifies-as-security/" rel="noopener noreferrer nofollow"> Read more</a>.●  Rodeo Finance Loses $888,000 in DeFi Hack &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/rodeo-finance-loses-888000-in-defi-hack/" rel="noopener noreferrer nofollow"> Read more</a>.●  Borrower Secures $35,000 DeFi Loan with Luxury Watch-Backed NFT as Collateral &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/borrower-secures-35000-defi-loan-with-luxury-watch-backed-nft-as-collateral/" rel="noopener noreferrer nofollow"> Read more</a>.●  China Moves to Impose Strict Regulations on Generative AI Systems &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/china-moves-to-impose-strict-regulations-on-generative-ai-systems/" rel="noopener noreferrer nofollow"> Read more</a>.●  Paradigm’s Rodrigo Seira Accuses U.S. SEC of Overreach in Attempt to Regulate Secondary Crypto Markets &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/paradigms-rodrigo-seira-accuses-u-s-sec-of-overreach-in-attempt-to-regulate-secondary-crypto-markets/" rel="noopener noreferrer nofollow"> Read more</a>.●  Dubai Regulator Suspends BitOasis’ License over Regulatory Compliance &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/dubai-regulator-suspends-bitoasis-license-over-regulatory-compliance/" rel="noopener noreferrer nofollow"> Read more</a>.●  Authors File Lawsuit Against Meta and OpenAI Alleging Unauthorized Use of Copyrighted Content &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/authors-file-lawsuit-against-meta-and-openai-alleging-unauthorized-use-of-copyrighted-content/" rel="noopener noreferrer nofollow"> Read more</a>.●  Binance Launchpad Announces Arkham Token Sale with $2.5 Million Hard Cap &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/binance-launchpad-announces-arkham-token-sale-with-2-5-million-hard-cap/" rel="noopener noreferrer nofollow"> Read more</a>.●  Hacker Breaches Arcadia Finance, Steals $455,000 From Protocol &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/hacker-breach-arcadia-finance-steals-455000-from-the-protocol/" rel="noopener noreferrer nofollow"> Read more</a>.●  Survey Reveals Central Banks’ Growing Interest in CBDCs, Predicts 15 Retail and 9 Wholesale CBDCs by 2030 &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/survey-reveals-central-banks-growing-interest-in-cbdcs-predicts-15-retail-and-9-wholesale-cbdcs-by-2030/" rel="noopener noreferrer nofollow"> Read more</a>.ARTICLES●  Revolutionizing Off-Chain Data Access for Blockchain Applications: 4 Things You Need to Know About Goracle &gt;&gt;&gt;<a href="https://defi-planet.com/2023/07/revolutionizing-off-chain-data-access-for-blockchain-applications-4-things-you-need-to-know-about-goracle/" rel="noopener noreferrer nofollow"> Learn more.</a><h3 id=""></h3><h3 id="strong-em-icymi-em-strong">ICYMI…</h3>Layoffs and Reshuffling: Binance Grapples with Regulatory Pressure and Internal ChangesBinance has reportedly laid off more than 1,000 employees in recent weeks due to regulatory and legal challenges faced in the United States and other jurisdictions.The mega exchange, which previously had around 8,000 employees worldwide, is said to be planning further reductions until its global workforce is reduced by a third.The layoffs have been widespread across various operations, with customer service roles being the most affected. Binance confirmed the layoffs but did not disclose the exact number of positions cut, stating that the restructuring aims to enhance talent density and ensure agility in preparation for future market dynamics.In addition to the layoffs, Binance has seen several high-level executives stepping down from their roles. The reasons behind these departures remain unclear, although they coincided with concerns over potential criminal charges from the U.S. Department of Justice.Binance&#39;s founder, Changpeng &#39;CZ&#39; Zhao, and one of the departing executives have dismissed these allegations as fear-mongering by the media. Alongside the internal changes, Binance has withdrawn from multiple markets, particularly in Europe, due to the lack of necessary licenses and approvals.Binance has now shifted its focus to complying with the upcoming Markets in Crypto Assets (MiCA) rules, which will come into effect in 2024 and establish a regulatory framework for the cryptocurrency industry.The exchange aims to ensure readiness for these regulations, which will allow companies meeting the MiCA requirements to operate across all European Union nations with a single license.Spotlight on interesting projectsTezoro<a href="https://tezoro.io/" rel="noopener noreferrer nofollow">Tezoro</a> is a non-custodial service that allows you to reduce the risk of losing your crypto by ~100 times by creating a backup: a smart contract that can withdraw crypto from your wallet and transfer it to a backup address even if you&#39;ve already lost access to your wallet or died.Tezoro is a non-custodial service. It helps you to prepare your backup, and you confirm it via your MetaMask and deploy it directly to the blockchain.Nobody, including Tezoro, can change the amount or replace the backup address. The only thing you allow it to do is initiate the transfer at the moment you need it.For more information, visit <a href="https://tezoro.io/" rel="noopener noreferrer nofollow">https://tezoro.io/</a><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2933c01bb8874d27b9b1ff2d45a97f92.jpg" />If you want more content like this, visit <a href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>,  <a href="https://medium.com/&#64;defi-planet" rel="noopener noreferrer nofollow">Medium</a>. and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.

Weekly Round-Up #58 | BlackRock CEO Discusses the Potential of Crypto ETFs and Democratizing Investing 💸 💱

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