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Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming
Cynthia Lummis, a former U.S. Representative and current bitcoin advocate, has won her primary race to join the U.S. Senate representing Wyoming.
By Nikhilesh De
Updated Sep 14, 2021, 9:45 a.m. Published Aug 19, 2020, 4:06 p.m.
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Cynthia Lummis, a former U.S. Representative and current bitcoin advocate, has won her primary race to join the U.S. Senate representing Wyoming.
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- Lummis beat nine other Republican candidates on Aug. 18, and has now advanced to the general election against Democrat Merav Ben-David. Lummis is favored to win in a "Solid Republican" district, according to the Cook Political Report.
- Lummis previously told CoinDesk she has been interested in bitcoin since at least 2013, seeing it as a stable source of value, unlike the U.S. dollar.
- Lummis served in the U.S. House of Representatives between 2009 and 2017.
- Should Lummis win, she may become one of the most crypto-friendly lawmakers in the legislative body.
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BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
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- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
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