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Crypto company makes a big show about how unstable and scary fiat currency is; film at 11.

kragen 3y ago
that's what i thought at first too but it seems to be blackrock? https://en.wikipedia.org/wiki/BlackRock https://en.wikipedia.org/wiki/BlackRock > BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$8.66 trillion in assets under management as of December 31, 2022.[1] BlackRock operates globally with 70 offices in 30 countries, and clients in 100 countries.[1] BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers.[2][3]
- JumpCrisscross 3y ago
  Until recently Circle were parking their cash in uninsured deposits [1]. Moving to repos may be about the debt ceiling, but it's more likely that someone hired a treasurer. [1] https://www.ft.com/content/7c9b2234-c298-4508-b59a-fce49f6bc40a https://www.ft.com/content/7c9b2234-c298-4508-b59a-fce49f6bc...
  - kragen 3y ago
    okay but the article says > The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements i think blackrock already had a treasurer? also is this jeremy allaire as in coldfusion?
    - JumpCrisscross 3y ago
      > i think blackrock already had a treasurer? Circle didn't always use BlackRock. The "someone" is Circle. Maintaining a mix of Treasuries and repos is standard treasury management. I don't see a link between this rebalancing and the debt limit fight.
      - kragen 3y ago
        still seems more noteworthy that blackrock thinks a usa sovereign default is a significant risk than that, like, perry metzger and eric hughes do
        JumpCrisscross 3y ago
        > blackrock thinks a usa sovereign default is a significant risk It's a manageable risk, so it's managed. That's risk management. (Repos also yield more than Treasuries. Again, this probably has nothing to do with the debt limit.)

that's what i thought at first too but it seems to be blackrock? https://en.wikipedia.org/wiki/BlackRock https://en.wikipedia.org/wiki/BlackRock > BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$8.66 trillion in assets under management as of December 31, 2022.[1] BlackRock operates globally with 70 offices in 30 countries, and clients in 100 countries.[1] BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers.[2][3]

JumpCrisscross 3y ago
Until recently Circle were parking their cash in uninsured deposits [1]. Moving to repos may be about the debt ceiling, but it's more likely that someone hired a treasurer. [1] https://www.ft.com/content/7c9b2234-c298-4508-b59a-fce49f6bc40a https://www.ft.com/content/7c9b2234-c298-4508-b59a-fce49f6bc...
- kragen 3y ago
  okay but the article says > The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements i think blackrock already had a treasurer? also is this jeremy allaire as in coldfusion?
  - JumpCrisscross 3y ago
    > i think blackrock already had a treasurer? Circle didn't always use BlackRock. The "someone" is Circle. Maintaining a mix of Treasuries and repos is standard treasury management. I don't see a link between this rebalancing and the debt limit fight.
    - kragen 3y ago
      still seems more noteworthy that blackrock thinks a usa sovereign default is a significant risk than that, like, perry metzger and eric hughes do
      - JumpCrisscross 3y ago
        > blackrock thinks a usa sovereign default is a significant risk It's a manageable risk, so it's managed. That's risk management. (Repos also yield more than Treasuries. Again, this probably has nothing to do with the debt limit.)