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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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Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand Across Europe, Latin America

Investment Firm Launches the First 'Crypto Hedge Fund' in Spain- Plans to Expand Across Europe, Latin America

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete.

Investments Allocated Mainly in Bitcoin and Ethereum

According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900).

Although Avenue Investment Crypto just launched the product, it was created by the firm in 2019. Huete was appointed as the institutional relations manager amid the commercialization phase of the crypto hedge fund.

Within the portfolio offered by the firm, the total exposure of the crypto hedge fund ranges between 40% and 100% of the fund with investments in ethereum (ETH), bitcoin (BTC), and other undisclosed cryptos.

Still, the fiat serving as base currency fund is the euro, and Avenue Investment Crypto clarified all profits accrue.

Firm Expects to Raise $122 Million by the End of 2021

The people in charge of managing the crypto hedge fund are Arne Vaagen and Francisco Gordillo.

Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999, with over 1,300 million euros under management. Also, Gordillo has 25-years’ experience in the banking sector, and since 2012, it has been studying the cryptocurrencies sector, said the firm.

Gordillo commented about the crypto hedge fund:

What we propose to the investor is that they keep a plot of the future; it is like investing in Wall Street in its founding moments, taking a position on the foundations of the future.

In the first instance, the investment company seeks to promote the fund across Spain, Portugal, and North Europe. Moreover, the second stage targets Latin America and the rest of Europe.

Avenue Investment Crypto expects to collect almost $122 million before the end of 2021. As of press time, they’ve raised over $24 million.

What are your thoughts on the idea of a crypto hedge fund? Let us know in the comments section below.

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