Archax Co-Founder: BlackRock was not directly involved in deploying the ICS Fund on the Hedera chain
Odaily Planet Daily News reported on Tuesday that the Hedera Foundation announced a partnership with Archax to tokenize BlackRock's ICS US Treasury Money Market Fund on the Hedera chain. Supporters of Hedera began claiming on social media that BlackRock had chosen Hedera to tokenize its fund, although this is not the case. Hedera's native HBAR token soared more than 107% on Tuesday before falling 25%.
Archax CEO Graham Rodford clarified today that it was Archax's choice to put the fund on the Hedera chain, and BlackRock did not directly participate in launching the tokenized money market fund on the Hedera chain.
The current funding rate for HBAR is negative as traders hope to short the recent surge. (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Almost 90% ot Airdrop Tokens Crash Within Three Months
Announcement on Resumption of FTM Network Deposit and Withdrawal Services
We are pleased to announce that FTM network deposit and withdrawal services are available again on our platform. We apologize for any inconvenience caused during the suspension period! Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter
$10 – $20 RIO ATH Price Possibility Comes Into Play as Bullish Inverted Head and Shoulders Pattern Forms
$66,000 BTC Price Nears as Bulls Take Full Control, Bitcoin Races Towards Next $68,000 Crucial Resistance Level