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 recent regulatory backlash against Binance could give a competitive advantage to regulated exchanges.
Gemini exchange co-founder, Cameron Winklevoss, has stated the company expects to overtake the current largest crypto exchange by volume, Binance, predicting its emphasis on compliance will win out as regulators increasingly crack down on unregulated exchanges.
As reported by Bloomberg on July 12, Cameron Winklevoss emphasized the importance of adhering to regulators’ demands, stating that Gemini is “playing the long game:"
“We’re trying to be the fastest tortoise in the race. The long game pays off over time.”
The comments come as Binance faces increasing regulatory pressure, with the U.K’s. Financial Conduct Authority told Binance that it wasn’t authorized to carry out regulated activities in the country in late June. A banking blockade followed as several high street banks curtailed their customer’s activities with the exchange.
Around the same time, Bloomberg also reported that the U.S. Department of Justice, the Internal Revenue Service, and the Commodity Futures Trading Commission were actively examining aspects of Binance’s business.
By contrast, Winklevoss stated that Gemini has been working alongside Bitstamp, Bittrex, and bitFlyer USA in an effort to clean up the industry and allay the concerns of financial regulators. The firm helped create the Virtual Commodity Association in 2018, which aims to root out bad behavior and prevent fraud and manipulation.
Related: ‘Crypto Needs Rules’ Says New Gemini Ad Campaign
However, Binance continues to dominate crypto trade volumes, with its analytics platform, CoinMarketCap, estimating Binance’s daily spot trading volume is more than 100 times that of the Winklevoss twins’ exchange — with Binance hosting almost $14 billion worth of trade in 24 hours while Gemini posted $117.7 million.
Gemini is not the only U.S.-based exchange prioritizing compliance in its roadmap, with Coinbase published audited financials amid its IPO earlier this year. Kraken also plans to soon go public, having received a regulated bank charter in Wyoming in September 2020.
https://ift.tt/3i7DT91
Comments
Post a Comment