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...
Post a Comment

Pundits say Bitcoin’s brutal quarter could see Tesla report up to a $100M loss for Q2

Analysts believe reporting requirements may compel Tesla to announce a paper-drawdown of between $25 million and $100 million on its $1.5 billion Bitcoin bet.

Bitcoin’s second-quarter price battering has pundits speculating that Tesla may have to report a loss of up to $100 million for Q2.

With the price of Bitcoin recently dropping to revisit levels last seen in January, CNBC business analyst Kate Rooney asserted on July 6 that Tesla may face an “impairment charge” — requiring it to report the drawdown in a disclosure to the U.S. Securities and Exchange Commission (SEC).

She noted that as Tesla first disclosed its $1.5 billion in Bitcoin purchases in February, onlookers believe the electric vehicle manufacturer may have been underwater at the end of the quarter. 

“Tesla holds crypto as an intangible asset and because of accounting rules, when Bitcoin's value drops below a certain amount, companies have to mark that down in their financial statements,” Rooney said, adding:

“Tesla says if Bitcoin's price falls below the carry cost, or where Tesla bought it, at any time after they bought it, an impairment cost is recognized.”

The analyst claimed that unnamed sources estimate the impairment charge could result in a loss of between $25 million and $100 million for Tesla on paper.

However, Rooney added that Tesla also cannot mark up the price of the BTC it holds until the position is realized in the form of a sale.

Tesla’s CEO Elon Musk has become a highly polarizing figure to the crypto community in recent months, with the firm’s Bitcoin investment and support for BTC payments helping ignite rallies into new all-time highs for the asset.

However, a combination of Tesla suspending BTC payments over concerns regarding the environmental impact of mining, and Musk’s persistent Twitter-based Dogecoin proselytizing, the business magnate has fallen out of favor with much of the crypto community.

Roughly 11 hours ago as of this writing, Reddit user “StablecoinsFraud” posted a screenshot of a tweet they claim Musk deleted after it pushed up BTC prices. “Elon Musk has deleted a post he posted last night that pumped the Bitcoin price. Someone in his ear?” they wrote.

https://ift.tt/2THlaJc
Labels:

Comments

Post a Comment

Popular posts from this blog

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 ...
Post a Comment
Read more

Price analysis 9/15: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building. Bitcoin ( BTC ) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels. While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years . Her projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to about 5%. Several legacy finance companies have realized the growing demand for digital assets and are increasing their crypto offerings to fulfill that demand. Morgan Stanley recently set up a new crypto-focused research division “in recognition of ...
Post a Comment
Read more

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...
Post a Comment
Read more