Controversies Surrounding BlackRock and Hedera

Recent reports on the relationship between BlackRock and Hedera have sparked a wave of misunderstandings and declines in the value of the HBAR token. Although initially it seemed that BlackRock was engaging in the tokenization of its funds on Hedera, the reality is quite different.

BlackRock, one of the largest players in the financial market, has denied any commercial ties with Hedera. Company associates confirmed that BlackRock did not choose Hedera Hashgraph to tokenize its funds nor was directly involved in the decision to tokenize its fund's shares on this platform.

The issue stemmed from an announcement by the HBAR Foundation, which reported the tokenization of BlackRock's Treasury Fund by blockchain firms Archax and Owner on the Hedera platform. This information, presented imprecisely, suggested that BlackRock was an active participant in the tokenization process. However, a BlackRock spokesperson confirmed that such an interpretation was erroneous.

Despite clarifications, some cryptocurrency influencers continued to spread misinformation about BlackRock's involvement.

Graham Rodford, CEO of Archax, explained that it was his company's decision to tokenize shares in BlackRock's money market fund on Hedera.

Nevertheless, the dispute surrounding this issue continues to stir controversy. Despite requests for clarification from the involved companies, no comment has been received from the HBAR Foundation. In the meantime, the price of the HBAR token has dropped by over 35% within 24 hours.

Although BlackRock's involvement turned out to be minimal, these events have reverberated widely in the world of cryptocurrencies and finance.