<ul><li>Coinbase CEO Brian Armstrong denies selling 'paper Bitcoin' to BlackRock and addresses concerns over transparency and reserves.</li><li>Armstrong clarifies that the minting and burning of Bitcoin for BlackRock's spot Bitcoin ETF are conducted transparently and on-chain.</li><li>Coinbase CEO emphasizes that Deloitte audits the company annually, offering public verification of results.</li><li>Concerns also raised regarding Coinbase's wrapped Bitcoin product, cbBTC, with questions about backing and reserves.</li></ul>

Coinbase CEO Denies Selling ‘Paper Bitcoin’ to BlackRock and cbBTC Claims

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