BlackRock Acquisition Rumors Debunked by Crypto.News
Rumors circulating about BlackRockโs acquisition of Voyager Digital have been confirmed as false by crypto.news. The largest asset management firm categorically denied the alleged buyout through Carolyn Vadino, its managing director of corporate communication.
โPumpingโ VGX Through False Information
Cryptocurrency reporter Colin Wu suggested that these rumors, disseminated as news, were likely aimed at artificially boosting the value of Voyagerโs native token, VGX. This tactic, known as โpumping,โ raises concerns about the deceptive practices prevalent in the digitalย currency industry.
Origin of Misleading Press Release
The misleading press release was traced back to a Chinese social media account with only one follower, further highlighting the dubious nature of the states. The fact that such misinformation was published as paid content on the reputable Associated Press (AP) website underscores the severity of the situation.
VGX Performance Amidst the Rumors
Andย once of reporting, VGX had suffered a 2.8% decline in value. Nonetheless, over the course of 7 days, it had still experienced a 17.7% increase and an 18% rise over two weeks, as per CoinGecko data.
BlackRockโs Interest in Crypto
With $9.4 trillion in assets under management, BlackRock has shown a growing interest in digitalย currency. The firm recently applied for a Bitcoinย (BTC) exchange-traded fund (ETF) with the Unitedย States Securities and Exchange Commission (SEC). Nonetheless, alongside other applicants like Wisdom Tree, Bitwise, and Ark Invest, the SEC has delayed its decision until October 17.
Hot Take
The dissemination of false information to manipulate digitalย currency prices is a troubling practice that undermines the integrity and trust in the industry. This incident serves as a reminder of the need for vigilance and critical analysis when evaluating news and rumors in the cryptocurrency space. It likewise outlines the importance of credible sources and verifying information before making investment decisions.
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