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...

Amid Stern Warnings from China Crypto Firms Huobi and Okex Halt a Few Services

Amid Stern Warnings from China Crypto Firms Huobi and Okex Halt a Few Services

On Friday, the cryptocurrency community discussed a report stemming from China’s 51st meeting of the Central Financial and Economic Affairs Commission that reiterated warnings about bitcoin mining. The following Sunday, reports disclosed the cryptocurrency operation Huobi has suspended its cloud-mining operations and other crypto services to customers in mainland China.

Rumors of China and Bitcoin’s Uneasy Relationship Continue

It was said on many occasions in 2017 that bitcoin (BTC) was resilient to negative news from China, after the tumultuous year of bad news from China back in 2013.

2021 has been a whole lot different, and it seems the policy of the Chinese government toward cryptocurrency, in general, and the mining industry is still meaningful to a lot of people. After the news on Friday, two days later, reports tied to the cryptocurrency companies Huobi and Okex has crypto proponents discussing China once again.

Amid Stern Warnings from China Crypto Firms Huobi and Okex Halt a Few Services
Images shared by the local Chinese journalist Wu Blockchain on Sunday. (Left) Huobi’s announcement discontinuing mining services to customers residing in mainland China. (Right) Xinhua News Agency about bitcoin mining and trading.

On Sunday, the regional publication chainnews.com published a report that detailed Huobi was terminating miner sales and crypto cloud hosting services to clients based in mainland China. In addition to chainnews.com, the local Chinese journalist Wu Blockchain discussed the situation on Twitter.

“Huobi Pool stated that it will stop providing services to Chinese users,” the reporter wrote. “Those who have already purchased bitcoin mining machines will be removed from the shelves, a interesting thing is that Huobi said that FIL mining machines will not be affected,” he added.

Local Reporter: ‘We Cannot Underestimate the Impact of Chinese Investors’

The journalist also said that the “expression of the Chinese government is to crack down on bitcoin mining.” Wu Blockchain further detailed that Okex has stopped using the “OKB’s fiat currency (RMB)” and the exchange’s platform coin tumbled after the news.

“The two major exchanges in China have taken only minimal precautionary measures. Huobi has delisted the sale and custody of mining machines for Chinese people, and Okex has stopped trading platform currency with RMB, they are still waiting [for] tomorrow,” he added.

In addition to Wu Blockchain’s tweet, Huobi gave a statement to the global macro and policy reporter David Pan. “Due to recent dynamic changes in the market, in order to protect the interests of investors, a portion of services such as futures contracts, ETP, or other leveraged investment products are temporarily not available to new users from a few specified countries and regions,” the Huobi statement shared with Pan said.

Furthermore, Wu Blockchain further shared an article from Xinhua News Agency that attacks “bitcoin mining and trading in more detail.” The reporter also notes that there is no “definite information” on cracking down on bitcoin mining and trading. Still, the local reporter believes these issues will continue into “the next week or even a month.”

“Chinese investors still account for more than 60% of the trading volume of perpetual contracts,” the reporter concluded. “Chinese miners hold large amounts of Bitcoin and Ethereum. We cannot underestimate the impact of Chinese investors on the cryptocurrency market.”

What do you think about all the rumors swirling around China and cryptocurrency again? Let us know what you think about this subject in the comments section below.

Comments

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...

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...

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 ...