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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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Major UK hedge fund Brevan Howard launches crypto division

Brevan Howard also hired former CMT Digital CEO Colleen Sullivan to lead private and venture investments in crypto.

Brevan Howard, a United Kingdom-based hedge fund, plans to "significantly expand" its cryptocurrency and digital assets, according to a new report from Reuters.

Chief Executive Aron Landy, who has been at Brevan's helm since its co-founder and long-time crypto backer Alan Howard stepped down in 2019, has stated that the firm has a "commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets." 

Brevan's strategy going forward with crypto is two-pronged. The firm is launching a new business division, "BH Digital," to manage its crypto and digital assets and has also hired CMT Digital Chief Executive Colleen Sullivan to lead private and venture investments in crypto.

Sullivan has led CMT Digital – a CMT Group division focused on crypto trading, blockchain investments, and legal/policy engagement in the industry – since late 2013. At Brevan, she would chair an investment committee dedicated to forging a new strategy focused on crypto technology. Landy has endorsed Sullivan's "exceptional track record in making highly successful crypto venture investments," adding that her appointment "will be of tremendous benefit to Brevan Howard clients."

Related: Regulating crypto could give it ‘halo’ of legitimacy, says UK watchdog

Brevan's crypto strategy under Landy suggests that Howard's departure has done little to dampen the firm's appetite for investing in the space. Under his leadership, the Brevan Howard Master Fund had announced it would allocate 1.5% to crypto this April, roughly $84 million. 

Howard himself has numerous crypto investments under his belt, including in EOS developer Block.one and the ICE-owned digital assets platform Bakkt. This summer he led a $25 million extension raise for London-based crypto services firm Copper.co and also invested in Asian crypto investment platform Kikitrade. He also has a 25% stake with One River Digital Asset Management, a United States-based hedge fund that purchased $600 million worth of Bitcoin (BTC) and Ether (ETH) in 2020.

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