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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Grayscale Investments liquidates all of its XRP ... while it still can

Grayscale is dissolving its XRP Trust, and will distribute cash to investors after liquidating all XRP held by the trust.

Institutional crypto fund manager Grayscale Investments has begun the dissolution of its XRP Trust in response to the SEC’s December lawsuit alleging the XRP token is a security under U.S. law.

According to an announcement published Jan. 13, Grayscale decided to dissolve the trust in response to the spate of XRP delistings from major crypto asset exchanges after the SEC’s complaint was filed. Grayscale concluded:

“It is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP to U.S. dollars, and therefore continue the Trust’s operations.”

All XRP held by the trust has already been liquidated, with Grayscale intending to distribute the net cash proceeds to XRP Trust shareholders after deducting expenses. The Trust will be terminated following the distribution of said cash.

Despite the SEC’s hardlineposition on XRP, regulators in other countries are not convinced the token comprises a security.

A January report on cryptocurrency regulation published by the U.K. Treasury classified XRP as an “unregulated token” alongside leading digital assets BTC and Ether, with the Treasury describing unregulated tokens as “neither e-money tokens nor security tokens.”

The report described XRP primarily as an “exchange token” — a token that is “primarily used as a means of exchange.”

On Jan. 13, Japan’s Financial Services Agency told The Block they classify XRP as a cryptocurrency, and not a security.

XRP is currently trading for $0.31 and is down 40% in the past 30 days.

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