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 Advocates Weigh ETF Rejection — Veteran Trader Peter Brandt Says Bitcoiners Should ‘Oppose Spot Bitcoin ETFs in US’

Crypto Advocates Weigh ETF Rejection — Veteran Trader Peter Brandt Says Bitcoiners Should 'Oppose Spot Bitcoin ETFs in US’

Following the Securities and Exchange Commission’s rejection of Vaneck’s bitcoin spot market exchange-traded fund (ETF) on Friday, a number of cryptocurrency advocates discussed the subject this weekend. For instance, the veteran FX trader Peter Brandt told his 581,700 Twitter followers that bitcoin maximalists “should oppose” a spot market bitcoin ETF. Bitcoiner Preston Pysh said bitcoin could care less “about the approval of a spot ETF.”

Crypto Community Discusses Recent Bitcoin ETF Rejection — Peter Brandt Says ‘Let’s Not Encourage Wall Street to Convert Bitcoin Into a Vending Machine Asset’

During the first week of November, U.S. lawmakers urged the Securities and Exchange Commission (SEC) to approve bitcoin spot exchange-traded funds (ETFs). But on November 12, the U.S. regulator rejected Vaneck’s bitcoin spot ETF and cited a lack of prevention toward “fraudulent and manipulative acts and practices” in the market. The rejection also follows the approval of the first bitcoin ETFs based on the crypto asset’s derivatives markets, specifically futures.

In fact, the Proshares Strategy ETF debut captured close to $1 billion in volume and broke records for previously listed exchange-traded funds. Then SEC chairman Gary Gensler told the public why the SEC approved a bitcoin futures version of an ETF. After the Vaneck bitcoin spot market ETF rejection, a number of digital currency proponents discussed the situation. The veteran FX and cryptocurrency trader, Peter Brandt, tweeted on Saturday that bitcoin advocates should disapprove of a bitcoin spot market ETF.

“IMO, Bitcoin maximalists should oppose spot [bitcoin] ETFs in [the] U.S.,” Brandt said. Bitcoin’s store of value story depends on its scarcity and even some difficulty to purchase. Let’s not encourage greedy grub-hungry Wall Street to convert BTC into a vending machine asset. Say NO to ETFs,” the analyst added.

Preston Pysh: ‘Bitcoin Literally Feasts on Corruption and Manipulation’ —Tamping Down Bitcoin Prices via Futures

Host of The Investor’s Podcast (Bitcoin Fundamentals), Preston Pysh, also discussed the SEC refusal on social media. “The SEC is making decisions on the bitcoin spot ETF which benefits hedge funds [and] Wall Street at the expense of retail investors,” Pysh said. “Gary Gensler, Hester Peirce isn’t this the opposite of what you’re charted to do? We want answers. Your decisions are increasing distrust,” the podcast host noted. Pysh also said bitcoin could care less about the SEC decision and stated:

Here’s the beauty folks. Bitcoin gives 2 sh*ts about the approval of a spot ETF. It costs nearly nothing to custody and it settles in 10 min. They are fighting a clock – tick, tock, tick…This thing literally feasts on corruption and manipulation and boy is the plate full.

Some individuals argued that bitcoin futures are easier to manipulate and that’s why the U.S. government has allowed the derivatives version. “The SEC denied a spot [bitcoin] ETF. Why? Because futures are easier to manipulate IMO,” the Twitter handle dubbed ‘Meme Sergeant Spliff’ wrote. “The head of the CFTC admitted they can ‘tamp down’ silver prices via futures. What do metals [and] bitcoin have in common? Anti inflationary. They can tamp them down, so USD looks more attractive/safer,” he added.

Meanwhile, most crypto traders were pleased to see that the rejection “had no real bad price influence.” Many others shared the opinion that bitcoin “doesn’t need a spot ETF.” “As long as the Real Bitcoiners keep buying and hodling,” Rodolfo Martinez wrote. “This rocket is heading to the moon and beyond.”

What do you think about the recent opinions this weekend about the SEC rejecting Vaneck’s bitcoin spot market ETF? What do you think about Peter Brandt’s statements about opposing a spot ETF in the U.S.? Let us know what you think about this subject in the comments section below.

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