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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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Paradigm unveils new $2.5B crypto fund

Paradigms new $2.5 billion New Venture Fund has dethroned A16z as the largest venture fund in crypto.

Crypto investment firm Paradigm has revealed a new $2.5 billion”New Venture Fund” to expand its investment into cryptocurrency companies and protocols.

According to a Nov. 15 announcement, Paradigm co-founders Fred Ahrsam and Matt Huang stated that “the fund and its size are reflective of crypto being the most exciting frontier in technology.”

The Financial Times reported that the funding pool is now the largest among VC crypto funds, edging out Andreesen Horowitz’s (a16z) $2.2 billion raise in June of this year.

The announcement did not state which sectors within the cryptocurrency industry the New Venture Fund will be allocated to.

Paradigm has historically invested in crypto projects that utilize Web 3.0 to deploy their applications, with roughly 11 of the 40 companies and projects in its portfolio comprising DeFi protocols. Paradigm has also invested in crypto-native exchanges, borrowing and lending platforms. Some of the biggest names in its portfolio include Coinbase, FTX, Uniswap, and Sky Mavis.

Despite Paradigm’s new fund claiming the title of crypto’s largest, Ehrsam tweeted that he and Huang are “just getting started.”

Ehrsam and Huang stated in the announcement that their mission to be “the earliest and most helpful partner to crypto entrepreneurs and communities” has not changed.

Related: DeFi, CeFi and institutions: AscendEX’s $50M raise highlights ambitions beyond exchange business

Paradigm’s recent investments include Solana-based lending protocol Jet Protocol, and nonfungible token (NFT)-based battling game AI Arena. The firm has recently increased its exposure to NFT platforms, also investmenting in Royal and Fractional during August.

Crypto investment firm Paradigm announced on Nov. 15 the launch of its $2.5 billion”New Venture Fund” to help it continue investing in cryptocurrency companies and protocols.

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