> 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]
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.
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.
> 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.)
