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BlackRock CEO Larry Fink has warned that Bitcoin’s growing appeal as a safe-haven asset could threaten the US dollar’s global dominance. In his Annual Chairman’s Letter to Investors, the BlackRock CEO wrote that decentralized finance is “an extraordinary innovation,” but added that this same innovation “could undermine America’s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar.”  US Could Default On Ballooning Debt By July Fink’s warning comes as the US’s gross national debt hit $36.2 trillion on March 5, according to the country’s Joint Economic Committee. The national debt is rising at a rate of $1.8 trillion per annum, which equates to $4.9 billion per day.  Should the debt continue to rise, the Bipartisan Policy Center warned this month that the US could default on its debt by as early as July 2025. Despite this, Moody’s Ratings has retained the US’s AA...

The monetary authority in Hong Kong released a report on its study Project Evergreen which looked at the highs and lows of recent bond tokenization activity. The Hong Kong Monetary Authority (HKMA) released a report on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization .  In a 24-page overview, the Hong Kong regulator laid out use cases, benefits and any challenges faced during the study. The concluding sentiment being that tokenization provides improvement for the bond market . Eddie Yue, the chief executive of the HKMA, said the study highlighted the potential of deploying distributed ledger technology (DLT) to real capital markets transactions with the current legal framework existing in Hong Kong. “It also showed the potential in DLT to enhance efficiency, liquidity and transparency in bond markets.” Some of the primary efficiencies of bond tokenization revealed through the study were the ability to go paperless ...