The HBAR Foundation’s announcement on “BlackRock Fund Tokenization” caused widespread misunderstanding. BlackRock was not involved in the development of Hedera

Golden Finance reported that Hedera tokens rose 96% in the past 24 hours due to news that Archax had added tokenized money market fund products on Hedera. The HBAR Foundation’s announcement sparked widespread misunderstanding. A video shared with the announcement appeared to show that Ownera, Archax, and BlackRock were collaborating in the venture, with the HBAR Foundation claiming it “brings together the world’s largest asset managers.” Introduce on-chain”. Cardano Ghost Fund DAO founder Chris O'Connor said that BlackRock "had no involvement" in the development of Hedera, and that what actually happened was the HBAR project, which tokenized shares of BlackRock funds through the secondary market. Just like I can buy a Rolex watch, take a picture, and send it to my X account, that doesn’t mean Rolex is working with me. "