HBAR Soars on BlackRock Buzz!

A misinterpreted announcement from the HBAR Foundation caused the price of HBAR to spike by 96%.

 This newsletter is brought to you by:

Palette to Profit: The Masterworks Method of Making Millions

Imagine this: A stunning masterpiece by the renowned Claude Monet, bought for $6.8 million, finds a new owner for $8 million in a mere 631 days. This triumph is a big win for investors, which was all made possible through Masterworks, a platform dedicated to investments in high-value art.

Masterworks simplifies the complex process of art investment. They handle everything – from selecting and acquiring the art, ensuring it is securely stored, to overseeing its eventual sale.

Upon the sale of an artwork, investors even have the opportunity to partake in the net profits, potentially reaping impressive investment returns.

The platform has already attracted over 850,000 users, with shares in these art investments often selling out in minutes. Don't miss your chance!

Here's what we've got for you today:

  • Hedera’s HBAR Token Pumps 96% on Misinterpreted BlackRock Announcement

  • FTX Auctions Off Solana Tokens This Week: Investors in a Buzz

  • Bitcoin Outperforms Tesla Stock After 5 Years of Impressive Growth

  • Tether Responds to Sanctions Evasion Reports by Freezing Linked Addresses

A BlackRock money market fund has been tokenized on the Hedera blockchain, which caused a 96% surge in the value of Hedera's HBAR token.

  • The HBAR Foundation announced that Archax and Ownera have tokenized BlackRock’s ICS US Treasury Fund on its blockchain. This led to a misinterpretation that BlackRock was directly involved with Hedera.

  • Chris O’Connor, founder of Cardano Ghost Fund DAO, criticized the HBAR Foundation for misrepresenting BlackRock's involvement in the project, clarifying that BlackRock had no direct role in Hedera’s development.

  • Despite the controversy, HBAR's price surged by 96% in just 24 hours, reaching a two-year high.

FTX plans to auction off an unspecified amount of Solana tokens this week through a “blind auction.”

  • FTX is set to auction off an unspecified amount of Solana (SOL) tokens this week through a "blind auction."

  • The exchange also recently sold $1.9 billion worth of SOL tokens, with some of the buyers including Galaxy Digital and Pantera Capital.

  • Mike Cagney, the CEO of Figure Markets, commented that the upcoming Solana auction by FTX will not have a fixed price for the entire holding.

Over the past five years, Bitcoin’s price rose by around 1,180% while Tesla stock only managed to climb by 806% during the same time period.

  • Bitcoin has also seen an impressive increase of 139% over the past year, contrasting sharply with Tesla's 11% decline, which has helped position Bitcoin as the world's ninth-largest asset.

  • Bitcoin's market value now exceeds that of major companies including Meta Platforms, Berkshire Hathaway, Visa, and JPMorgan Chase.

  • Tesla started its Bitcoin investment journey in February of 2021 by purchasing over $1.5 billion at around $36,000 per unit. Although the company has sold a lot of its holdings, it still owns 11,509 BTC.

Tether announced plans to freeze accounts associated with sanctioned entities to prove its commitment to complying with global regulations.

  • Tether, the issuer of USDT, announced it will freeze addresses linked to sanctioned entities to comply with international financial regulations, after reports that Venezuela's state-run oil company, PDVSA, might be using cryptocurrencies to evade sanctions.

  • A Reuters report pointed out that PDVSA started using USDT for oil transactions as a method to circumvent U.S. sanctions, which were re-imposed due to Venezuela's failure to make necessary electoral reforms.

  • Investigations in 2023 uncovered $21 billion in unaccounted receivables from PDVSA's oil exports, suggesting widespread corruption in the company.



How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!