THELOGICALINDIAN - Litecoin goes pond with the fishermammals
Proving already afresh that they are amid the smartest breed on the planet, a accumulation of dolphins accept amorphous adopting cryptocurrency.
Litecoin is now the cryptocurrency of the Miami Dolphins, appearance the aboriginal time a football aggregation clearly adopted a agenda asset. In a momentous stride against boilerplate acceptance and adoption, the Litecoin Foundation appear that “this different affiliation creates a able alignment amid Litecoin and one of the world’s best apparent sports brands in the Miami Dolphins.”
This is no baby collaboration, with a cogent accomplishment to accommodate the Litecoin cast with “in-game branding, announcement opportunities at Hard Rock Stadium, as able-bodied as admittance beyond the team’s assorted online backdrop and agenda content.”
As a aftereffect of the integration, admirers will now be able to use agenda currencies for affairs 50/50 raffle tickets. Litecoin and Aliant payments will accredit attendees to acquirement tickets application Litecoin or Bitcoin, with bisected the gain activity to the Miami Dolphins Foundation and its accommodating causes. Raffle participants will additionally be able to buy tickets application the cryptocurrencies online as able-bodied as at kiosks and sellers in Hard Rock Stadium.
Charlie Lee, the architect and agog apostle of Litecoin, bidding the consequence of such an agreement: “This accord propels Litecoin in advanced of an admirers of millions of bodies about the apple at a time area acceptance of cryptocurrencies continues to accretion drive and the ecosystem is able to abutment absolute apple use cases in means ahead not possible.”
Seeing this as an accomplished apparatus for introducing a huge demographic to the coin, Lee continued, “We see this as a able way to accession acquaintance and brainwash bodies about Litecoin and cryptocurrencies on a amazing scale.”
The Miami Dolphins Vice President & Chief Information Officer Kim Rome was appropriately positive, saying: “The Miami Dolphins are consistently attractive for means to enhance the fan experience, and this affiliation with Litecoin provides the adeptness for guests to adore our 50/50 raffle while altruistic to a abundant cause.”
Litecoin continues to advance acceptance advanced with initiatives, with bags of businesses acceptance barter to #PayWithLitecoin.
This isn’t the aboriginal time Litecoin puts its adenoids in sports. Last December Charlie Lee appear that Litecoin will be the official cryptocurrency of UFC 232.
In addition, it looks like Charlie Lee and the Dolphins accept added in accepted than partnerships — at least, according to the backward Douglas Adams, they both knew back it was time to get out.
Andrey Shevchenko contributed reporting.
It follows a bouldered aboriginal year of operation.
Bitcoin is down, and alts are bottomward further, but that’s no acumen to despair. Things can consistently be worse: your antithesis area apparently didn’t lose as abundant as Galaxy Digital’s.
Mike Novogratz’s asset administration close accomplished a abreast $30M bead in the amount of assets beneath administration (AUM) aftermost month, which could be a assurance that some investors are demography amount elsewhere.
Galaxy Digital Capital Management (GDCM), which manages assets on account of basis funds, adept funds and blockchain ecosystem funds, appear a basic AUM amount of $393.9M as of the end of June. That’s a bead of 7% from the antecedent month, back Galaxy’s absolute AUM stood at $421.6M. It was additionally the distinct better bead back the aggregation started publishing abstracts in April 2024.
Why Did Assets Drop?
GDCM says AUM can change for four reasons: performance, contributions, withdrawals and basic commitments adjourned from one agent to another. Since the absolute crypto bazaar cap added by added than $100bn in June, it’s absurd that the abatement was absolutely due to performance.
As the blueprint aloft shows, alike adequately agreeable bazaar periods such as February and March saw Galaxy Digital’s assets alter by about $300,000. When the rally commenced in aboriginal April, AUM absolutely decreased by added than $1.5M, afore ascent aback up to $421.6M in May.
GDCM claimed a able achievement in the aboriginal three months of this year. In a annual columnist release, Galaxy Agenda stated that the aggregation had “been capitalizing on the advance in the agenda assets market… and authoritative allusive advance appear approaching commitments.”
But admitting the brilliant ability of its founder, Galaxy Digital accomplished several blunders during its aboriginal abounding year of operation. The aggregation fabricated cogent losses during the bazaar downturn, including a appear $47M accident from the auction of its ample Wax (WAX) backing – a badge acclimated to barter basic appurtenances acclimated in video games.
The accumulation appear an anniversary accident of $270M in 2024, with the advance portfolio bottomward 36%. However, Novogratz insisted that the close had still outperformed the market.
There accept additionally been some success belief recently: the aggregation asleep its position in EOS’ Block.One for $71M aback in May. But today’s account of a abatement in AUM could be a assurance that audience are affective elsewhere, or not advance as abundant as they accept done in the past.
These abstracts are still basic and accept not yet been confirmed. GDCM has additionally emphasized that none of its letters accept been audited by a registered third affair back December 2024.
What is GDCM?
GDCM is 100% endemic by Galaxy Agenda Holdings, Novogratz’s merchant coffer for institutions in the agenda asset market. The aggregation says that its aggregation is accustomed with blockchain technology and can action both alive and acquiescent portfolio management.
Last year, the aggregation partnered with Bloomberg to barrage the Bloomberg Galaxy Digital Index, which advance the best aqueous USD-cryptocurrency trading pairs.
Crypto Briefing approached Galaxy Digital for added advice on the abatement in AUM. A agent beneath to comment.
