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

Crypto community in shock over Brian Brooks’ resignation from Binance.US

Changpeng Zhao said Brooks stepping down would not "impact Binance.US customers in any way." The cryptocurrency community has different thoughts.

After serving as the chief executive officer of major cryptocurrency exchange Binance.US for less than four months, Brian Brooks announced Friday he would be stepping down — a move that was greeted with confusion and suspicion from the crypto community. 

Citing “differences over strategic direction,” the now-former CEO said he had already resigned his position at Binance’s U.S. arm. Brooks had been leading the crypto exchange since replacing former CEO Catherine Coley on May 1.

Changpeng Zhao, the CEO of Binance — a separate entity from its U.S. arm — said Brooks stepping down would not “impact Binance.US customers in any way.” He explained:

“I remain confident in Binance.US's business and its commitment to serve its customers and innovate [...] As one of the largest cryptocurrency exchanges in the United States, Binance.US is poised to continue to grow and empower the future of finance.”

However, members of the outspoken crypto community speculated that Brooks’ decision to leave the firm was based on internal knowledge about issues surrounding the global Binance exchange, possibly from regulators or other market forces. 

Others connected the timing of his departure to the regulatory backlash facing Binance, which has prompted the exchange to roll back or even cease operations in certain regions. Regulators in Japan, the United Kingdom, Germany and Canada have recently issued orders or warnings against Binance for various reasons. 

Binance has faced scrutiny even in the United States, with the Department of Justice and Internal Revenue Service investigating the firm for alleged illegal trading activity. The exchange is reportedly the subject of an investigation by the Commodity Futures Trading Commission regarding alleged trades by U.S. customers.

Related: Binance faces regulatory upheaval as lawmakers target ‘global’ exchanges

Others speculated that Brooks’ departure may have been connected with his belief that the crypto exchange business is not profitable in the long run. Those comments were made in an interview with Forbes weeks before his resignation.

The general takeaway from that interview, according to Forbes writer Javier Paz, was the “inevitable clash of direction” at Binance.US, likely between Brooks and the board of directors. According to one Twitter user, “It must be awful working against your moral compass.”

Some users reminded that Brooks’ desire to pursue a “strong compliance program” had the full backing of the board just a few months ago:

The general mood on Crypto Twitter was that the resignation was “very strange,” especially given all the excitement surrounding Brooks’ hiring just a few months earlier.

At the time of writing, Brooks has yet to disclose his career plans. Before joining Binance.US, he served in several high-profile roles at Coinbase and the United States Office of the Comptroller of the Currency. 

Related: Binance to restrict derivatives trading for Hong Kong users

With additional reporting from Turner Wright.

https://ift.tt/3CBuMa6
Labels:

Comments

Post a Comment

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...
Post a Comment
Read more

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...
Post a Comment
Read more

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