Blackrock publicly declared support for crypto and applied for a crypto ETF not long ago. Now Blackrock is being accused of engaging in business with China that threatens the US national security. Is this just another ploy by the US government to kill cry

Not so long ago, Blackrock was making headlines for having applied to the SEC for a Bitcoin ETF. Shortly after that, the CEO of Blackrock made multiple appearances on mainstream news channels where he talked positively about crypto in general, and Bitcoin in particular. He confidently said that crypto is the future, and a lot of Blackrock's clients had expressed interest in crypto investments. This ETF would give Blackrock's clients exposure to crypto. Remember that Blackrock has $9 trillion Assets Under Management. And given its record of successful ETF applications in the past, chances are high that they will be successful with their current bid for a Bitcoin ETF. If successful, that will legitimize the crypto space.

However, on the other hand, we have seen the US government's efforts to fight crypto and illegitimize the crypto industry. I saw this article that a US House committee is launching a probe into Blackrock concerning its dealings with China. They're accusing Blackrock of having invested in Chinese companies "that pose national security risks to and act directly against the interests of the United States." And I couldn't help but start to connect the dots. Could this just be another ploy by the US government to stop companies that are seen as pushing for the adoption of crypto?