What Is the Reason Behind the Blackrock Ethereum Fund Wallet Being Flooded With Cryptodickbutts and Meme Coins?

Following the recent debut of its inaugural tokenized asset fund on Ethereum, BlackRock is swiftly adapting to the world of blockchain and familiarizing itself with the intriguing and diverse elements that come with it.

Those who are enthusiastic about cryptocurrencies have been sending tokens of appreciation to a wallet connected to a prominent financial institution. Still, the wallet appears to be outside the institution’s control. NFTs with explicit themes and funds associated with a service that the United States government has blocked due to allegations of involvement in state-sponsored terrorism are examples of the types of gifts that individuals have received.

Blackrock’s Investment Opportunities Increased Due to Donations

Since its recent launch, a wallet connected to BlackRock’s Institutional Digital Liquidity Fund (BUIDL) and valued at one hundred million United States dollars has received a significant number of contributions in the form of non-fungible tokens (NFT) and cryptocurrency investment. Because of these donations, the number of investment opportunities currently available on the blockchain has significantly increased.

The wallet has received Ethereum NFTs from various collections, such as CryptoDickButts, CryptoTitVag, Goblin-town, and Larva Chads.

In honor of @BlackRock’s recent $100M on-chain fund, CryptoDickbutts #2224, also known as “BlackRock,” has been transferred to the organization’s on-chain balance sheet. Just like any other asset owned by BlackRock, the calculations are accurate.

— zhivkoto

Although such violent gestures may not be suitable for the world’s biggest asset manager, they are often taken extremely seriously. To give you an idea, CryptoDickButt NFTs are currently worth 0.59 ETH, or at least $1,979 per unit, according to CoinGecko.

A total of precisely 0.000069 USDC was added to the BlackRock-affiliated wallet through a series of transactions. A user with the handle big-dick-fink.eth sent these transactions. The username is a subtle pun on BlackRock CEO Larry Fink’s name.

Cryptocurrencies such as Jesus Coin, PussyNoodle, BlackCock, Inc., and HarryPotterTrumpHomerSimpson777Inu were discovered in the wallet, among others. The wallet also contained other cryptocurrencies, some of which are less well-known, such as the popular meme coin PEPE.

In addition, large quantities of ether were sent to the wallet from TornadoCash. This cryptocurrency mixer is now forbidden to be associated with due to federal law and has been blocked by the Treasury Department. This is because the privacy-focused service has been linked to multiple groups that the US has blocked, including those involved in money laundering, Iran’s nuclear weapons program, and North Korea’s nuclear weapons program.

A BlackRock-affiliated wallet received cryptocurrency tokens with an estimated global value of tens of thousands of dollars worth of unapproved transfers.

Blackrock Wasn’t the Only Company That Managed to Raise Substantial Donations

While BlackRock certainly appreciates the kindness of these individuals, it is far from alone among significant organizations that have received unexpected on-chain donations following the public disclosure of their wallet addresses.

Numerous crypto assets, ranging from the more explicit to the more out-there, were offered to Budweiser after the 2021 launch of their NFT acquisition program. Budweiser received these assets. While El Salvador does indeed have a sizeable Bitcoin holding, it has also received a plethora of intriguing and entertaining Ordinals.

There are several reasons why trolling mainstream players with outrageous on-chain donations is appealing. One of these reasons is that the recipient is unable to decline such transactions due to the characteristics of blockchain networks. Immediately after being transferred, the assets are stored in the entity’s wallet, and from that point forward, they can only be destroyed or transferred further.

It needs to be clarified what the Wall Street titan intends to do with the collection of meme coins, explicit on-chain artwork, and cryptocurrency that it recently acquired. The collection was obtained through illegal laundering.

On the other hand, if BlackRock’s BUIDL fund had the intention of moving away from the regulated world of crypto exchange-traded funds (ETFs) and toward the world of authentic on-chain transactions, it would appear that they have already accomplished this objective to a significant degree.