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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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NFL Player Gets a Myriad of Celebrities to Add the Bitcoin Hashtag to Their Twitter Profiles

Following the day the Tesla founder, Elon Musk, added the Bitcoin hashtag to his Twitter profile, the popular Carolina Panthers offensive tackle, Russell Okung told his social media followers to put the Bitcoin hashtag in their bio. Okung has managed to get hundreds of people to do it, but more recently the NFL player started a decent train of celebrities with very large Twitter follower counts to join the bandwagon too. Russell Okung: ‘Plant the Flag to Declare You’re Ready for the Future’ Last week, Elon Musk put the Bitcoin hashtag in his Twitter bio, and after he did that, the price of bitcoin ( BTC ) coincidently saw significant gains. Musk also tweeted, “In retrospect, it was inevitable,” and a great number of crypto supporters celebrated the Tesla founder’s social media teases. After Musk did this on Twitter, the NFL player who plays offensive tackle for the Carolina Panthers, Russell Okung told his Twitter followers to follow Musk’s recent move. “Everyone put #Bitcoin in ...
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UBS: Crypto Has Fundamental Flaw, Bitcoin’s Fixed Supply Could Cause Its Value to Collapse

A chief economist at UBS, the largest bank in Switzerland, says cryptocurrency has a fundamental flaw. Bitcoin’s fixed supply could cause the collapse of its value and spending power, making it unattractive to use as a currency, he claims. A UBS Chief Economist Says Bitcoin’s Fixed Supply Is a ‘Fundamental Flaw’ Paul Donovan, Chief Economist of UBS Global Wealth Management, explained last week why people won’t want to use bitcoin as a currency. UBS is the largest bank in Switzerland. “The debate about bitcoin and other crypto tends to be very passionate. Crypto supporters say that economists are just dinosaurs, and economists say that crypto supporters are just selling a bubble.” He also pointed out that bitcoin and other cryptocurrencies have been volatile in price terms. “If we look objectively at the issue, I think an important question is whether bitcoin and other crypto could be currencies,” the UBS chief economist continued, emphasizing, “And, I don’t think that they can.” ...
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85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet

Dogecoin rallied by more than 85%, suggesting Wall Street Bet’s crypto wing may have decided that they weren’t done with DOGE yet. After gaining the spotlight due to a 980% pump on Jan. 28, Dogecoin ( DOGE ) briefly entered the top 10 ranking by market capitalization for the first time since 2015. Once the massive pump lost momentum and traders quickly took profits, it seemed that investors would move on past the meme-based cryptocurrency and find something else to invest in.  The pump initially started when exchanges prevented retail traders from buying more GameStop and AMC stock on Jan. 28. Fueled by the Reddit discussion group r/Wallstreetbets, the army of investors turned their attention to silver and a selection of ‘cheap’ cryptocurrenceis. On Jan.28, Twitter user "WSB Chairman" asked, "Has Doge ever been to a dollar?" to his 750,000 followers. That was enough to trigger the monster rally , despite Dogecoin having no protocol upgrades or developments sin...
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US Lawmaker Likes Bitcoin — Urges Policymakers to Embrace Innovation in Regulation

U.S. Representative Patrick McHenry is pro-bitcoin. He is now hosting the Bitcoin whitepaper on his official congressional website and has called on other lawmakers to embrace innovation like Bitcoin. He believes that the cryptocurrency is unstoppable and governments cannot kill it. Pro-Bitcoin US Lawmakers A growing number of U.S. lawmakers have recently spoken in support of Bitcoin. Among them is Congressman Patrick McHenry from the state of North Carolina. On Friday, he talked on CNBC’s Squawk Box about how to approach regulation after last week’s market swings. “You can’t put technology back in the box. Innovation is here. We have to embrace. We have to broaden access to our markets, we have to broaden access to our financial products,” he said. McHenry has long been a Bitcoin advocate. Last week, when the lawyer of the self-proclaimed Satoshi Nakamoto, Craig Wright, threatened to sue a few website owners for hosting the open-source Bitcoin whitepaper on their websites, McHenr...
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Bitcoin subreddit hits 2M subscribers following GameStop controversy

More than 200,000 Redditors joined the page last week. One of the most well-known online Bitcoin communities passed two million subscribers in a surge of activity on Friday, purportedly due to the media attention over the r/Wallstreetbets subreddit. According to the Metrics For Reddit analytics website, the subreddit r/Bitcoin has 2,184,941 subscribers at the time of publication, making it the 178th most popular subreddit among more than 100,000 active pages. The Bitcoin ( BTC ) subreddit hit the two million subscriber milestone on Friday, more than 18 months after reaching one million. Though much of the growth in the subreddit following the 2017 bull run was gradual, interest in r/Bitcoin exploded last week, with more than 200,000 accounts subscribing to the page between Jan. 26 and Jan. 30, from 1,982,681 to 2,184,941. Subscriber growth for r/Bitcoin. Source: Metrics for Reddit Many of the new subscribers may have been drawn to the subreddit following mainstream media outle...
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Hedge fund behind shorting GameStop reports 53% loss in January

A Melvin Capital client claims that the firm has "massively de-risked" its investment portfolio following the controversy involving short-selling GameStop stocks. Melvin Capital started 2021 with $12.5 billion in assets before retail investors from Reddit caused the firm to lose billions on its GameStop short positions. According to a Wall Street Journal report, the hedge fund has a little more than $8 billion in assets at the end of January, which includes a $2.75 billion investment from Citadel and Point72 Asset Management earlier this month. This represents a 53% loss, according to people familiar with the firm. In the report, a client claims that Melvin has "massively de-risked" its investment portfolio following the controversy involving short selling GameStop stocks. People familiar with the hedge fund said Melvin has restructured its portfolio to improve its ability to exit securities easily. The hedge firm, as well as Citron Capital — another firm invo...
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