“The Staples Center arena in Los Angeles, known to pro basketball fans as “The House That Kobe Built,” will be renamed Crypto.com Arena on Christmas day.
The Singapore-based crypto exchange bought the naming rights from AEG for 20 years, for $700 million. The $700 million figure makes it one of the largest naming rights deals in sports history.
Crypto.com will also be an official partner of the Los Angeles Lakers and pro hockey’s LA Kings under the agreement.”
“Fidelity Clearing Canada ULC (FCC) has become Canada’s first regulated entity to offer bitcoin custody and trading services for institutional investors. In addition, Fidelity Investments Canada ULC filed preliminary prospectuses for Fidelity Advantage Bitcoin ETF and Fidelity Advantage Bitcoin ETF Fund.
The demand for investing in digital assets is growing considerably and institutional investors have been looking for a regulated dealer platform to access this asset class.
Institutional investors in Canada such as mutual funds and exchange-traded funds (ETF) previously had to use U.S.-based custodians. With FCC’s launch, more of these investors could potentially invest in bitcoin directly.”
“ConsenSys is girding for battle in crypto’s hot jobs market with $200 million to spend on up to 400 new hires after a funding round that valued the Ethereum backer at $3.2 billion.
There’s a war for talent going on, and we are going to make sure that we can grow our team, acquire some teams, acqui-hire some teams.
Brooklyn, New York-based ConsenSys is already a force to be reckoned with in the Ethereum ecosystem. It develops hyper-popular crypto wallet MetaMask and manages a handful of developer toolkits, including blockchain application programming interface (API) suite Infura and Truffle, for smart contract development.
All three have seen their bases soar in tandem with the Ethereum ecosystem’s staggering growth this year. MetaMask now has 21 million users, Infura 350,000 developers and Truffle, which ConsenSys acquired last November, 4.7 million. Toss in an active protocol engineering unit and a sandbox for companies and even central banks that want to build on blockchain, and what emerges is Ethereum’s most influential corporate backer.
This round announcement is validation that we chose the right pieces.”
“India will ban the use of cryptocurrencies for making payments, but will allow and regulate trading of crypto as assets. The Modi government will also ban active solicitation from crypto firms, such as ads. The government plans to present a crypto regulation bill in the parliament’s winter session, details of which are being finalized.
Regulating crypto as an asset doesn’t solve all the issues that authorities are concerned about, but it does take it out of the currency arena, which is one of RBI’s worries.”
See Also: Argentina to Tax Crypto Exchanges
“What started as a longshot bid for a decentralized autonomous organization (DAO) to buy one of 13 original copies of the United States Constitution is looking more and more like a possible lock as the group has now raised $27 million and counting – well above auction house Sotheby’s upper estimate of a $20 million price.
ConstitutionDAO, which formed just last Thursday, has raised the sum from over 7,600 addresses after a surge in large donations on Wednesday signaled confidence from whales that the plot might succeed – and that the venture could end up being profitable. The achievement earns the DAO a number of superlatives, including status as possibly the largest DAO ever – and at the very least, certainly the largest DAO ever assembled for the purpose of purchasing an 18th-century legal document.
The current plan is to issue a governance token – called $PEOPLE – that enables holders to vote on decisions concerning the preservation and display of the document. PEOPLE is currently being distributed at a rate of 1,000,000 PEOPLE for each ETH donated, but as of yet is not being traded.
Attention now turns to the auction on Thursday, where the group will attempt to outbid a field of at least half a dozen private collectors.”
“Animoca Brands’ virtual property and gaming firm The Sandbox is opening up part of its metaverse to players for the first time via a multi-week play-to-earn (P2E) Alpha event. The project has been in development for four years and will launch its metaverse in “phased stages”.
The Sandbox’s virtual gaming world enables users to monetize their time spent in the metaverse via a play-to-earn model. Players can purchase land and create nonfungible tokens (NFT) within the game and earn the Sandbox token (SAND) by completing various quests. They can also stake the token.