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...
The crypto derivatives exchange has seen its valuation soar over the past year, reflecting the rapid growth of digital assets over the same period.
FTX, the cryptocurrency derivatives exchange founded by Sam Bankman-Fried, has closed a $900 million funding round – highlighting once again that venture capitalists are shrugging off market turmoil in their quest to uncover quality blockchain plays.
The Series B investment round had over 60 participants, including Softbank, Sequoia Capital, Coinbase Ventures, Multicoin, VanEck and the Paul Tudor Jones Family.
With the raise, FTX’s valuation has grown to $18 billion, making it one of the largest cryptocurrency companies in the world. Just one year ago, the derivatives exchange had a valuation of $1.2 billion.
Related: FTX crypto exchange integrates institutional trading tool ClearLoop
Founded in 2018, FTX operates one of the largest crypto derivatives businesses in the world, with average daily volumes exceeding $10 billion. With a head office in Hong Kong and a parent company in Antigua, the company has been highly active in acquisitions and branding, having bought out Blockfolio for $150 million in August 2020. In March of this year, the exchange secured the naming rights to the Miami Heat’s stadium for the next 19 years.
Despite the recent market turmoil engulfing cryptocurrencies, venture firms continue to back crypto-focused startups with greater conviction. As Cointelegraph reported, Silicon Valley’s Andreessen Horowitz launched a $2.2 billion crypto venture fund last month, the largest in history.
Related: Latin America’s Mercado Bitcoin exchange raises $200M from SoftBank
Over the past year, several crypto exchanges have grown to become unicorns – a term used by venture capitalists to describe startups with a valuation of $1 billion or more. Latin America, for example, is now home to two trading platforms worth over $2 billion. A decacorn is a company worth over $10 billion.
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