{"id":511925,"date":"2024-04-25T16:10:45","date_gmt":"2024-04-25T16:10:45","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=511925"},"modified":"2024-04-25T16:10:45","modified_gmt":"2024-04-25T16:10:45","slug":"hbar-plummets-after-blackrock-says-it-has-no-commercial-relationship-with-hedera","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/hbar-plummets-after-blackrock-says-it-has-no-commercial-relationship-with-hedera","title":{"rendered":"HBAR Plummets After BlackRock Says It Has ”No Commercial Relationship” With Hedera"},"content":{"rendered":"

HBAR’s price <\/span>plummeted<\/span><\/a> more than 15% over the past 24 hours after BlackRock said it has “no commercial relationship” with Hedera and had not selected the Hedera Hashgraph to tokenize any of its funds.<\/span><\/p>\n

This follows an Apr. 23  announcement by the HBAR Foundation that said Archax and Ownera tokenized BlackRock’s ICS U.S. Treasury fund on the Hedera blockchain. Some mistakenly believed that the asset management giant was actively involved in this tokenization effort.<\/span><\/p>\n

A spokesperson for BlackRock confirmed that this is not the case. \"⚡<\/span><\/p>\n

HBAR Foundation’s Post Goes Viral<\/span><\/h2>\n

HBAR<\/span><\/a> Foundation’s post went viral and accumulated over 3 million views. Several crypto influencers misinterpreted the message. <\/span><\/p>\n

“BLACKROCK JUST TOKENIZED ONE OF THEIR MONEY MARKET FUNDS ON HEDERA,” Mason Versluis told his 189,000 followers on X.<\/span><\/p>\n

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BLACKROCK JUST TOKENIZED ONE OF THEIR MONEY MARKET FUNDS ON HEDERA $HBAR<\/a>! 🔥 https:\/\/t.co\/0TCxUfGjKa<\/a><\/p>\n

— MASON VERSLUIS (@MasonVersluis) April 23, 2024<\/a><\/p><\/blockquote>\n