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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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JPMorgan now offers clients access to six crypto funds … but only if they ask

JPMorgan now offers access to six different crypto funds from GrayScale, Osprey Funds and NYDIG.

JPMorgan Chase quietly opened up access to six crypto funds over the past three weeks as it looks to offer crypto exposure to a variety of clients.

In the latest move, the bank’s private clients will now have access to a new Bitcoin fund created by crypto investment firm New York Digital Investment Group (NYDIG).

NYDIG is owned by Stone Ridge Asset Management and the “Stone Ridge Bitcoin Strategy Fund” offers exposure to Bitcoin via futures markets.

The NYDIG fund is in addition to five crypto funds that the bank opened access to last month: Grayscale Investments’ Grayscale Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust, as well as the Osprey Bitcoin Trust.

While the traditional financial institution has taken a big leap by offering crypto exposure via six different funds, it is reportedly taking a cautious approach to how it offers its new digital-asset services.

According to unnamed sources quoted by Business Insider, JPMorgan advisors are not allowed to overtly promote the crypto funds, and can only conduct the transactions upon the client's request.

The Grayscale and Osprey Funds are open to all users of its various wealth management platforms including its self-directed Chase trading app, while the NYDIG fund is only open to private banking clients.

Related: US megabank JPMorgan to hire more blockchain talent

The investment banking giant has a complicated history with cryptocurrency, after CEO Jamie Dimon described Bitcoin as fraud back in 2017.

Analysts at Goldman Sachs appear to be working through some of the same issues, despite the firm actively working to offer exposure to the sector.

In June, Jeff Currie, the global head of commodities research at Goldman Sachs described Bitcoin as a “risk-on” asset similar to copper. In the same month, analysts from the bank released a crypto report which concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

Goldman Sachs currently provides crypto services through a derivatives trading desk and a Bitcoin futures trading platform that was rolled out last month. The firm has also filed for a sort-of DeFi-based ETF in late July.

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