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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...
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62% of Robinhood’s Q2 crypto revenue was from Dogecoin trading

Around 41% of Robinhood’s quarterly revenues were generated by crypto trading.

Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue.

According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% of funded Robinhood accounts traded digital assets during Q2 2021.

With early 2021 witnessing the speculative dog-token trading frenzy, a whopping 62% of Robinhood’s crypto revenue was derived from Dogecoin trades.

The earnings report is the first released by Robinhood since it became a public company. Vlad Teev, co-founder and CEO of Robinhood, stated:

“We’re encouraged by the number of people who are accessing the financial system for the first time through Robinhood.”

Revenue tagged $565 million for the quarter overall, a 131% increase compared to Q2 2020’s $244 million. Monthly active users more than doubled year-over-year (YoY) from 10.2 million to 21.3 million, while funded accounts increased by 130% over the same period.

The value of assets custodied by Robinhood also tripled YoY to tag $102 billion.

Despite the surging crypto revenue, Robinhood reported an overall loss of $464 million for Q2. However, the losses are attributed to accounting adjustments pertaining to the fluctuating warrants and notes held by the company.

Related: Robinhood shareholders want crypto wallets and a hat

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