FTX Reaches $ 210 Million Deal In Esports, Olympic NFTs + More News

Sam Bankman-Fried, CEO of FTX. Source: A video screenshot, Youtube / FTX Official

Get your daily, bite-sized roundup of crypto asset and blockchain news – and investigate the stories flying under the radar of today’s crypto news.
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Exchange messages

  • TSM, one of the most valuable esports companies in the United States, is changing its name to TSM FTX – receiving $ 210 million over 10 years, the New York Times reported, adding that the popular crypto derivatives exchange FTX, led by Sam Bankman-Fried, will pay the bill. The $ 21 million annual payment is higher than many agreements companies have made with traditional sports teams over the past few decades to get their names on stadiums and arenas, the report said.

NFTs news

  • A new series of non-fungible tokens (NFT) with an Olympic theme will start on June 17, 2021, announced the International Olympic Committee (IOC). The NFTs will depict Olympic pins with all of the same characteristics of physical collectibles, including authenticity, rarity, and provenance, and will be sold on the nWay tech platform, but will also be available through a free online game that will be released later this year.

Business news

  • In the US, the number of non-farm workers rose by 559,000 jobs last month, Reuters reported, adding that economists polled by this news agency had forecast 650,000 jobs in May. The unemployment rate fell from 6.1% in April to 5.8%.

Regulatory News

  • The Indian central bank is not changing its mind on cryptocurrencies, saying it has “major concerns” about this asset class, according to Bloomberg. This came a few days after the bank announced that its 2018 circular warning against cryptocurrency trading was no longer valid and should not be quoted.
  • According to The Guardian, around 50 crypto asset firms could be forced to close due to non-compliance with the UK’s Financial Conduct Authority (FCA) anti-money laundering rules. The companies have withdrawn applications from a temporary approval system that would keep them in business while the FCA reviews their services, for which the agency has extended the deadline to the end of the first quarter of 2022.

Investment news

  • Financial services platform Unchained Capital announced that it has raised $ 25 million in a Series A financing round led by financial services company NYDIG and its parent company Stone Ridge Holdings Group. NYDIG has now pledged a total of $ 150 million to Unchained and the funds will be used to develop its Bitcoin (BTC) -based multisig lending platform.
  • Institutional customers will have access to Ethereum (ETH) -based USD loans thanks to a partnership between the digital asset platform Anchorage Digital and the commercial bank BankProv. This means that crypto-native funds with ETH holdings in need of capital can get USD loans without liquidating their holdings, they said.

Mining news

  • Data management solutions company Sphere 3D said it is merging with bitcoin mining company Gryphon Digital Mining to support Gryphon’s goal of using 100% renewable energy. The merger is expected to be completed in the third quarter of 2021. Sphere 3D will issue 111 million common shares to Gryphon shareholders – Sphere 3D shareholders will own approximately 23% of the company and Gryphon shareholders the remainder.

Career news

  • Crypto company Blockchain.com said it had moved its headquarters from New York to Miami. The move will allow the team to tap into the region’s talent pool and hire 100 full-time employees by the end of this year, with a further 200 to follow in 2022. You will also become the South Florida STEM (science, technology, engineering, and math) community.

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