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

JPMorgan launching 'crypto exposure basket' featuring MicroStrategy and Square

The financial services giant has filed paperwork with the SEC to launch a debt instrument linked to 11 crypto-focused firms.

JPMorgan Chase has designed a new debt instrument that provides investors direct exposure to a basket of crypto-focused companies, according to a new filing with the United States Securities and Exchange Commission, or SEC.

JPMorgan’s Cryptocurrency Exposure Basket (Mar 2021) is described as an “unequally weighted basket consisting of 11 Reference Stocks of U.S.-listed companies" that operate businesses directly and indirectly related to cryptocurrencies.

The instrument allocates 20% to MicroStrategy, the data analytics firm with 91,064 BTC on its balance sheet. It also provides direct exposure to Square (18%) and Riot Blockchain (15%), two companies with significant exposure to Bitcoin. Nvidia Corporation and PayPal Holdings each account for 15% of the basket.

Advanced Micro Devices, Taiwan Semiconductor Company, Intercontinental Exchange, CME Group, Overstock.com and Silvergate Capital are also included in the basket.

The prospectus states:

“The weights of the Reference Stocks were determined based in part on exposure to Bitcoin, correlation to Bitcoin and liquidity.”

JPMorgan says payouts are based on how the basket of companies performs. The minimum investment is $1,000 with a maturation date of May 2022.

The new product represents one of many ways institutional investors can gain access to the high-flying cryptocurrency market. Wall Street is already flocking to digital currencies, which largely explains the strong price support underlying Bitcoin. The flagship digital currency traded as high as $54,888 on Tuesday, according to TradingView. 

If the recently launched Purpose Bitcoin exchange-traded fund is anything to go by, traditional investors have a strong appetite for digital assets. The Canadian ETF saw nearly $100 million in volume during its debut earlier this month, putting it on track to exceed $1 billion in assets after the first week. 

https://ift.tt/38HB8Yf
Labels:

Comments

Post a Comment

Popular posts from this blog

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
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more