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

Square's Cash App Bitcoin profits fall 23% — Will opening it to teenagers help?

Cash App’s Bitcoin profits fell in the third quarter, but overall profits are still on the rise.

Jack Dorsey’s payments company Square Inc. revealed in its Q3 earnings report that mobile payments app Cash App saw a 23% drop in quarterly profits generated by Bitcoin.

But Bitcoin profits and revenue are both up year on year.

Square attributes the drop off in quarter-on-quarter Bitcoin revenue and gross profit to the “relative stability of the price of Bitcoin, which affected trading activity compared to prior quarters.”

Cash App allows users in the United States and the UK to buy Bitcoin and transfer money and BTC peer to peer. According to AppBrain it currently ranks second in finance app installs on the U.S. Google Play Store behind top-ranked crypto.com.

Bitcoin saw much less volatility in Q3 than Q2 after the price dropped from a previous ATH of nearly $63,000 to about $31,000 in Q2, while in Q3 Bitcoin price ranged from about $30,000 to $50,000.

The earnings report states that during the third quarter of 2021, Bitcoin revenue reached $1.82 billion, while gross profit on Bitcoin hit $42 million, representing 11% and 29% year-over-year increases. The report attributes some of this year-on-year growth to the increase in the price of Bitcoin.

Cash App is now going after the teen market. On November 4th, Jack Dorsey tweeted that everyone 13 and older can now use the Cash App for its peer to peer transaction capability, however they cannot currently use it to deposit checks or buy Bitcoin. This puts Cash App in competition with Apple Cash’s family option. Adding Bitcoin functionality for teenagers would set it apart from all others, including Apple Cash and Venmo and could help increase profits.

Despite the weaker Bitcoin revenue, Cash App demonstrated solid overall growth in the third quarter of 2021 by generating $2.39 billion in revenue and $512M in gross profit, 16% and 33% increases respectively.

Related: Jack Dorsey’s Square plans to build an open-source Bitcoin mining system

Cash App made headlines earlier this week by gaining endorsements from popular NFL quarterback Aaron Rodgers, who stated he was partnering with Cash App to accept a portion of his salary in Bitcoin.

Square Inc. stock price has fallen to $237.88 in after hours trading, down 3.87%.

https://ift.tt/2YiLewD
Labels:

Comments

Post a Comment

Popular posts from this blog

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

Price analysis 9/15: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building. Bitcoin ( BTC ) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels. While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years . Her projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to about 5%. Several legacy finance companies have realized the growing demand for digital assets and are increasing their crypto offerings to fulfill that demand. Morgan Stanley recently set up a new crypto-focused research division “in recognition of ...
Post a Comment
Read more

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