I highly recommend reading Fink's full letter: https://www.blackrock.com/corporate/investor-relations/larry-fink-chairmans-letter
The word "failed" is not present. In fact, the letter outlines BlackRock's strategy moving forward which includes a digital US dollar. It's dismaying that any news outlet is portraying this as Fink and BlackRock giving up. It's a fake narrative designed to placate the public into a false sense of security.
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