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Archax, Ownera and The HBAR Foundation have enabled the first tokenization of BlackRock’s money market fund (MMF) on Hedera. This is a major development in the real-world assets (RWAs) industry and comes after abrdn plc tokenized its MMFs on Hedera last year. The crypto world has witnessed a historic moment in the real-world assets (RWAs) industry after Archax, a London-based digital asset exchange, broker and custodian, tokenized the BlackRock ICS US Treasury money market fund (MMF) on the Hedera (HBAR) blockchain. Archax collaborated with the HBAR Foundation and the institutional-grade digital assets platform Ownera to bring the MMF to Hedera. According to details in an announcement, the milestone follows Hedera Council member abrdn’s successful tokenization of its MMFs on Hedera last year. abrdn is the largest active wealth manager in the UK and its flagship tokenized funds marked a major milestone in the asset management industry. Today we ...

A Tennessee Senator has introduced a new bill that seeks to decouple CBDCs from the state’s definition of money. Tennessee’s Senate introduced a new bill authored by Senator Frank Niceley that proposes to redefine the term “ money ” within the state ’s Uniform Commercial Code (UCC). The idea is to explicitly exclude central bank digital currencies (CBDCs) from the state’ s definition of money . JUST IN: A bill was filed in the Tennessee Senate to expressly exclude CBDC from the definition of money in the state. pic.twitter.com/2VzdQjFDuz — Bitcoin Magazine (@BitcoinMagazine) January 16, 2024 This move aligns with similar legislative actions in Indiana and Florida, indicating a growing trend among states to scrutinize the role of government-issued digital currencies in their economies. Governor of Florida, Ron DeSantis, has expressed reservations about CBDCs, focusing on concerns about individual privacy and governmental overreach. You ...

Bitcoin (BTC) is currently aiming to reclaim the $40,000 level as it seeks a new all-time high, primarily fueled by speculation surrounding the potential approval of a spot exchange-traded fund (ETF) by United States regulators. The news regarding the ETF, combined with the upcoming halving event, is widely seen as a major catalyst that could propel Bitcoin to another record high. Nevertheless, some analysts posit that Bitcoin may receive a boost from an additional catalyst. Particularly, in a TradingView post on December 1, renowned crypto analyst TradingShot suggested that Bitcoin might be on the verge of a significant global money supply rally, challenging traditional halving theory. Notably, the halving theory dictates that Bitcoin experiences important price rallies following each event.  Bitcoin price analysis chart. Source: TradingView The potential Bitcoin rally , as per the analyst, is closely tied to two key indicators of the global money supply : Chinese bond yield...