<ul><li>BlackRock has adjusted its agreement with Coinbase, requiring Bitcoin withdrawals for its Bitcoin ETF to be settled on a public blockchain address within 12 hours.</li><li>The crypto community expressed doubts about Coinbase’s transparency, especially regarding their synthetic Bitcoin product, cbBTC.</li><li>Concerns arose about cbBTC being a 'paper version' of Bitcoin, raising fears of price manipulation and lack of true Bitcoin backing.</li><li>Coinbase CEO Brian Armstrong addressed the concerns, stating that all transactions are settled on-chain and that cbBTC involves trusting a centralized custodian.</li></ul>

Investor Demand Ramps Up BlackRock Pressure on Coinbase for On-Chain Bitcoin Handling

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