BitMEX co-founder warns BlackRock's crypto foray could undermine Bitcoin's core values

BitMEX co-founder Arthur Hayes warns BlackRock's entry into crypto could fundamentally change Bitcoin.

Hayes is concerned BlackRock's potential influence could alter Bitcoin's fundamentals like privacy and immutability.

BlackRock could support protocols that detract from Bitcoin's censorship resistance or decentralization.

The SEC delayed spot Bitcoin ETF decisions, including BlackRock's, but will likely rule in 2023.

BTC is currently trading around $27,500, down slightly over the past 24 hours.