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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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Galaxy Digital raises $500 million in convertible debt to fund business expansion

The move comes after the company increased its net profits by over ten-fold in the last quarter.

Galaxy Digital, a cryptocurrency brokerage and merchant bank founded by billionaire investor Michael Novogratz, announced on Monday that it would be issuing $500 million in exchangeable senior notes to accelerate business initiatives. The debt is convertible into company equity and bears an interest rate of 3% per annum, with maturity in 2026. New expansion areas include nonfungible tokens, or NFTs, with the firm committing $62 million of its capital into 22 NFT-related companies since the start of the year.

Over the years, Galaxy Digital founder and CEO Mike Novogratz has been a famed bullish investor of Bitcoin (BTC) and other cryptocurrencies. He has called on other investors to allocate anywhere between 1% to 5% of their portfolio to crypto. Under his guidance, the firm's assets under management surpassed $3 billion in an update provided in October, becoming one of the largest digital currency investment companies in the world.

The company is registered in the Cayman Islands, and its shares are listed on Canada's Toronto Stock Exchange. However, it is in the process of restructuring to list its shares in the United States next year. The U.S. Securities and Exchange Commission has yet to approve of its potential listing.

In the past quarter, Galaxy Digital's net income from trading, investment, asset management, crypto mining and other corporate sources amounted to $517.1 million, increasing from $41.5 million from the prior year's quarter. Shares have gained 405.4% year over year to $23.51 (converted from Canadian dollars) apiece as of Monday.

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