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Etherealize CEO Vivek Raman: Wall Street’s private chain comeback is a ‘race to the bottom’
Etherealize CEO Vivek Raman criticizes the current trend of private, gated blockchains, likening them to a 'race to the bottom' and a repeat of past failures. He argues that open, permissionless networks like Ethereum provide superior interoperability and liquidity, with privacy features best built on top of these foundational layers. While acknowledging the market's current focus on enterprise sales, Raman believes that regulatory clarity will ultimately favor open networks due to their lack of a single controlling entity.
Nvidia reckons new $500 billion investment should allay fears AI companies are just funded by the same pot of cash moving around in one big circle. Reassured yet?
Nvidia announced a significant influx of over $500 billion in third-party capital for AI infrastructure, aiming to counter concerns about circular financing within the industry. The company asserts that this initiative will establish an open capital market for AI, with independent investors underwriting projects. However, the article questions the true independence of these investments, given the interconnectedness of major players like BlackRock and Microsoft in the AI market, and suggests this could be a temporary measure before a potential market correction.
BlackRock took 80% of a $1B week as Bitcoin and Ethereum ETFs post their best run since April
US-listed spot Bitcoin and Ethereum ETFs saw over $1 billion in inflows in the week ending August 7, their strongest performance since April. BlackRock's IBIT and ETHA funds accounted for approximately $896 million of this total, highlighting a significant concentration of investment in these two products. This surge in investment occurred shortly after a security flaw was disclosed for Coldcard hardware wallets, prompting speculation about a potential shift from self-custody to institutional-grade crypto products.
Wall Street’s staking pipeline narrows: BNY and BlackRock both lean on Galaxy
Major financial institutions like BNY Mellon and BlackRock are increasingly relying on a narrow set of infrastructure providers, such as Galaxy Digital, for institutional cryptocurrency staking services. This concentration, particularly for Ethereum and Solana, raises concerns about potential operational risks and coordinated policy influence, despite the separation of private keys and validator functions.
Bitcoin ETFs Flip to $170.1M of Inflows on Aug. 3 — But BlackRock’s IBIT Supplied 65.5% of It
U.S. spot Bitcoin ETFs experienced a net inflow of $170.1 million on August 3rd, a significant shift from the previous session's outflow. However, BlackRock's iShares Bitcoin Trust (IBIT) accounted for approximately 65.5% of these inflows, highlighting a concentration of investment in a single fund. While seven out of twelve funds saw positive flows, the overall recovery is tempered by the dominance of IBIT, with other funds contributing smaller amounts.
Bitcoin ETFs flip from a $265 million drain to seven green funds — but IBIT still carries the load
U.S. spot Bitcoin ETFs experienced a significant shift, moving from a net outflow of $265.4 million on July 31 to a net inflow of $170.1 million by August 3. BlackRock's IBIT fund accounted for the majority of these inflows, highlighting a continued concentration of investment in a few key funds despite a broader increase in positive fund performance.
Quest maker Meta is having its cake and eating it
Meta is partnering with BlackRock to build a new data center in El Paso, Texas, with an investment of around $14 billion. This facility will provide 1 gigawatt of compute capacity to support Meta's AI technologies and models, with operations expected to begin in 2028. The move comes as Meta faces component shortages impacting its VR hardware like the Meta Quest 3 and has seen significant losses in its Reality Labs division.
