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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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Congressmen Emmer & Soto to SEC Chair Gensler: We want BTC Spot ETFs

The bipartisan pair sent a letter to the securities regulator demanding spot ETF approval.

Congressmen Todd Emmer and Darren Soto sent a bipartisan letter to Securities & Exchange Commission Chair Gary Gensler on Wednesday, strongly questioning why the agency has denied approval for the creation of a Bitcoin spot ETF while allowing Bitcoin Futures ETFs to begin trading.

In a spot ETF, the fund holds the actual commodity (in this case bitcoin) whereas in a futures ETF fund holds contracts to buy and sell the commodity at a future date at a specified price.

In a press release announcing the letter, Minnesota Republican Emmer said:

“The SEC’s approach to cryptocurrency regulation has been unacceptable. [...] If the SEC cannot outline the perceived material difference in risk profiles, then they should allow ETFs based on spot Bitcoin to be traded."

Soto, a Democrat from Florida, affirmed in his accompanying statement:

“Cryptocurrency has proven to be a driver of economic growth in our society. Therefore, it is crucial for us to clearly regulate it in order to maximize the potential benefits and mitigate any risks. It’s important for us to come together to ensure that investors have consistency.”

In October, ProShares Bitcoin Strategy ETF enjoyed the highest first day natural volume of any ETF ever. Although the SEC was expected to lead the federal government's efforts to regulate stablecoins, it appears that will not be the case. The securities regulator also recently shot down a proposed leveraged bitcoin ETF.

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