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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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Cathie Woods' Ark buys a further $110M worth of Coinbase shares

Three exchange-traded funds offered by Cathie Wood’s Ark Invest added a total of 341,186 shares in Coinbase (COIN) worth a combined $110 million on April 15.

Three exchange-traded funds, or ETFs, offered by Cathie Wood’s Ark Invest, including the flagship Ark Innovation ETF, all added further shares in Coinbase Global Inc. (COIN) to their positions on Thursday, April 15.

According to a report from Reuters, the Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Fintech Innovation ETF purchased a combined total of 341,186 shares, valued at $110 million at the close of trading on April 15, with each share valued at $322.75.

The previous day, the three ARK funds had together accumulated 749,205 COIN shares, worth approximately $246 million combined. Yesterday's bolstering of ARK's Coinbase position brings the three funds' total stock of Coinbase shares — just days after the cryptocurrency's exchange's Nasdaq debut — to over a million shares: 1,090,391 to be exact.

Ark Invest has offered the bullish prediction that Bitcoin's (BTC) future total market capitalization will one day “comfortably eclipse” that of gold’s, and exceed $10 trillion. Wood herself has also been optimistic about the prospects of regulatory approval for a Bitcoin ETF from the United States Securities and Exchange Commission, or SEC, under the new Biden administration. She has pointed in particular to United States President Biden's pick for SEC chair, Gary Gensler, whose knowledge and understanding of cryptocurrencies and related technologies is solid. 

Ark Invest's call on Coinbase this week further increases its indirect exposure to cryptocurrencies. As analysts noted yesterday, the funds simultaneously sold a portion of their shares in Tesla — itself an investor in Bitcoin. Tesla stock nonetheless remains Ark's largest position by value on its major funds.

Shares in Coinbase had a pre-listing reference price of $250 and opened at a significantly higher figure of $381 on their Wednesday debut. A volatile first day of trading saw shares in the exchange peak at $429.54 and drop to $310.44, before closing at $328.28. 

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