BlackRock Joins Asset Tokenization Race; North Korea Hackers Stole $3B in Crypto Since 2017

Blackrock joins the Tokenization race and a new report says $3 billion worth of crypto was lost to North Korea. You're watching Coin Desk daily. I'm your host Jensen Asi Blackrock is in on the Tokenization race with a new fund on the Ethereum network. The asset management giant also made a strategic investment in asset tokenization company, Securitize the Blackrock US D Institutional Digital Liquidity Fund is represented by the Biddle Token and fully by Cash Us treasury bills and repurchase agreements. According to a press release that will provide yield paid out via Blockchain rails every day to token holders. Secure Ties will act as a transfer agent and tokenization platform while Bny Mellon is the custodian of the funds assets. Current FTX CEO John J Ray, the third is pushing back against founder Sam Breeds claims that customers lost no money in the exchange's collapse. Ray says they are quote categorically callously and demonstrably false and quote Beman Fried and his legal team have leaned heavily in on the no harm to customers narrative asking the judge to consider a maximum of a sentence of 6.5 years. Far less than the 40 to 50 year sentence recommended by prosecutors. Ray told the court that when he took over the exchange, only 100 and five Bitcoins remained on the platform compared with nearly 100,000 that customers were entitled to Beman Fried is scheduled to be sentenced on March 28th. And the Un Security Council study says that $3 billion in cryptocurrencies were lost to North Korean hackers between 2017 and 2023. There were a total of 58 suspected cyberattacks on crypto linked firms during that time period. The report also said that North Korea derives around 50% of its foreign currency income from cyber attacks which is used to fund its weapons program. That's it for Coin desk daily, get more updates on coindesk.com and we'll see you next time.