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...

Fed’s Daily Tapering Increases by 23%- Tuesday’s Reverse Repo Removes $432 Billion from Market

Fed's Daily Tapering Increases by 23%- Tuesday's Reverse Repo Removes $432 Billion from Market

Since well before the onset of Covid-19, the U.S. Federal Reserve had initiated monetary easing policies and from then on, the M1 Money Stock supply skyrocketed to levels never-before-seen in history. This weekend reports disclosed that the Fed has started to taper quantitative easing (QE) when it removed $351 billion from the market last week. This Tuesday the Fed revealed it completed a reverse repo operation for $432.9 billion.

  • On May 22, Bitcoin.com News reported on the Federal Reserve initiating overnight reverse repos (RRP) to the tune of $351 billion. Tuesday’s recently reported reverse repo shows a 23.07% increase.
  • RRP facility operations are the opposite of QE, as the Federal Reserve removes M1 from the system by selling Treasuries back to the market. The most recent overnight operations seem to be only Treasuries, as no purchases of mortgage-backed securities (MBS) have been mentioned.

Fed's Daily Tapering Increases by 23%- Tuesday's Reverse Repo Removes $432 Billion from Market

  • The Federal Reserve followed the $351 billion RRP operation with $369 billion on Friday and $395 billion on Monday.
  • The U.S. central bank revealed on Tuesday $432.9 billion was removed from financial markets.
  • Since the Federal Reserve has been on a spree of reverse repo operations, speculators think the central bank will continue to increase the M1 removal. “Fed Reverse Repo 432.955 Billion from 48 counterparties Repo market is still broken, broken. We’ll break 500 billion tomorrow,” one person tweeted on Tuesday.

Fed's Daily Tapering Increases by 23%- Tuesday's Reverse Repo Removes $432 Billion from Market

  • On Monday, Scott Skyrm, executive vice president in fixed income and repo at Curvature Securities commented on the reverse repo situation to Market Watch columnist Joy Wiltermuth. “Why are they going to the Fed?” Skyrm asked. “Either there is too much cash or not enough collateral. It’s two sides of the same coin,” he added.
  • “A BTIG Research team led by Julian Emanuel described the situation like a game of cat and mouse,” Wiltermuth’s report concludes.
  • In 2020 alone, estimates say the U.S. central bank’s 2020 M1 increase eclipsed two centuries of USD creation. It is estimated that 24 to 30% of all USD was created in 2020 and Q1 2021.

What do you think about the Fed’s reverse repos during the last few days? 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 ...