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BlackRock and Goldman dominate crypto: $11.2bn in regulated deals reshapes the market

A legal analysis by Dubai-based crypto lawyer Irina Heaver found that $11.2 billion flowed into regulated crypto firms in the first half of 2026, with investors including BlackRock, Goldman Sachs and Persian Gulf sovereign wealth funds writing the checks. The data shows institutional capital is bypassing permissionless, decentralised projects in favour of licensed, compliant firms. Analysts say the trend effectively marks the end of crypto's permissionless era.

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