Skip to main content

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...
Post a Comment

40% of Goldman Sachs’ clients already have exposure to crypto, survey shows

American investment bank Goldman Sachs confirms its crypto desk plans, reports that 40% of its surveyed clients already have exposure to crypto.

American banking giant Goldman Sachs has officially confirmed its plans to revive a cryptocurrency trading desk amid the increasing demand from investors.

Matt McDermott, global head of digital assets for Goldman Sachs global markets division, announced that the company will provide access to CME Bitcoin (BTC) futures on their upcoming crypto platform. In a Friday Exchanges at Goldman Sachs podcast, the exec also noted that Goldman Sachs will offer crypto services with non-deliverable forwards, or NDFs, which stand for cash-settled, and usually short-term, forward contracts.

McDermott noted that initially Goldman Sachs’ crypto platform will be limited to these two products, stating:

“We’re actually going live with that crypto trading desk which would be quite narrow initially but we will focus on CME futures and non-deliverable forwards. And we’re also now disseminating Bitcoin content to our institutional clients through our Marquee platform.”

According to McDermott, Goldman Sachs’ move into crypto comes in response to the increasing demand from its clients. Citing an internal survey of nearly 300 clients, the exec said that 40% of Goldman Sachs’ investors currently have exposure to crypto. “That seemed actually a little high to me but I felt that was kind of very reflective of the demand we’ve seen over the last three to six months,” he said.

The executive also reported that 61% of Goldman Sachs’ surveyed clients expect digital assets holdings to increase over the next year. Particularly, 76% of those surveyed see Bitcoin ending 2021 between $40,000 and $100,000, McDermott said. However, only 22% expect Bitcoin to surpass a $100,000 mark by the end of 2021, he noted.

Goldman Sachs originally wanted to set up a crypto trading desk in 2018, announcing the plan in late 2017. At the time, Bitcoin was sitting at its former all-time high levels after hitting $20,000 in December. Following a subsequent sell-off on crypto markets in 2018, Goldman Sachs was rumored to cancel its crypto desk plans. Eventually, Goldman Sachs CEO David Solomon strongly refuted that the bank ever had any plans to open a crypto trading desk in 2019.

In the latest interview, McDermott pointed out that the existing crypto landscape is very much different from 2017 in terms of growing institutional demand. “2017 was very much a retail-driven market. This time around, we’ve seen a huge volume of institutional demand across a broad spectrum of different industry types,” he said.

https://ift.tt/3eemnQ6
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more