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...
The American exchange is offering services and advice to other private and publicly traded firms who want to hold digital assets in their treasuries.
United States-based cryptocurrency exchange Coinbase has revealed that Bitcoin (BTC) and other crypto assets have been a key component of its corporate treasury since the company's founding back in 2012.
In a new announcement addressed to other corporate actors, the exchange presented its own experience in managing its treasury position in cryptocurrencies as a solid foundation for advising other private and publicly-traded companies about how to deal with their own prospective investments.
In a newly-published, highly detailed Corporate Treasury FAQ, the exchange provides a thorough overview of the kinds of investment, accounting, and tax policies that companies would need to consider and adopt if they wish to diversify their treasuries into crypto.
The FAQ is both a general resource that covers all manner of regulatory, auditory, technical and investment questions about crypto from a corporate investment perspective and a pitch for companies to choose Coinbase in particular as a trade execution, consultant and professional custody partner.
The document also provides overviews of Bitcoin's performance in recent years from a macro perspective, revealing its favorable comparison to other financial assets such as gold and the S&P 500. "Bitcoin’s strong absolute performance compensated investors for its volatility," the exchange notes. Risk-adjusted, the asset had a rolling annualized Sharpe Ratio of 1.52 over the past five years, taking into account the 2018 bear market.
Corporate investment in cryptocurrencies, notably Bitcoin, has made headlines in recent weeks due to Tesla's $1.5 billion investment in the asset, which resulted in rumored profits of up to $1 billion. Notwithstanding this extraordinary windfall, analysts have said that while they expect a ripple effect among corporations following Tesla's move, less than 5% of publicly traded firms are likely to be confident enough to invest at present, until there is more regulatory clarity.
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