A widely misinterpreted announcement from the HBAR Foundation has sparked confusion among crypto influencers and sent the price of HBAR token soaring.
A BlackRock money market fund has been tokenized on the Hedera blockchain sending the Hedera (HBAR) token on a 96% rally in the last 24 hours — but the world’s largest asset manager had nothing to do with the move on-chain despite many believing it did.
A widely misinterpreted April 23 HBAR Foundation X post — the organization behind the Hedera network — shared that blockchain trading and infrastructure firms Archax and Ownera tokenized BlackRock’s ICS US Treasury Fund on its network.
The video shared with the announcement seemed to suggest Ownera, Archax, and BlackRock were partnered on the venture and HBAR claimed it was “bringing the world’s largest asset manager on-chain.”
