Hedera's native HBAR token surged more than 107% on Tuesday, then fell more than 30% as investors believed BlackRock was involved in a fund tokenization project on the Hedera blockchain
On Tuesday, Hedera announced that BlackRock's ICS US Treasury money market fund had been tokenized on the Hedera blockchain in collaboration with Archax.
Hedera supporters on social media began claiming that BlackRock chose Hedera to tokenize its fund, although this was not the case.
Archax CEO Graham Rodford said that "it was indeed Archax's choice to put [the fund] into Hedera," in response to criticism of Hedera's potentially misleading marketing.
