Crypto Giant FTX Buying Stake in Stocktwits: Sources

[Tamsialu$$]

The deal makes perfect sense for FTX as it signs more sponsorships and marketing deals in an effort to promote its brand to new customers. Cryptocurrency exchange FTX has signed a series of splashy sports and entertainment deals this year. Now, according to multiple sources, FTX and its exuberant founder Sam Bankman-Fried are making a foray into media by taking a stake in Stocktwits, a popular social investing site. According to two sources who spoke on condition of anonymity, the deal will an involve an initial investment by FTX of around $20 million with an option to buy Stocktwits outright. Stocktwits declined to confirm or deny the deal, while FTX and Bankman-Fried did not immediately reply to requests for comment.more

[Terrasin]

Amid growing concerns about the damaging environmental impact of Bitcoin mining, crypto exchange Gemini has launched “Gemini Green,” a new long-term initiative to offset the carbon emissions created by the cryptocurrency in the exchange’s custody.

[Terrasin]

The deal makes perfect sense for FTX as it signs more sponsorships and marketing deals in an effort to promote its brand to new customers. Cryptocurrency exchange FTX has signed a series of splashy sports and entertainment deals this year. Now, according to multiple sources, FTX and its exuberant founder Sam Bankman-Fried are making a foray into media by taking a stake in Stocktwits, a popular social investing site. According to two sources who spoke on condition of anonymity, the deal will an involve an initial investment by FTX of around $20 million with an option to buy Stocktwits outright. Stocktwits declined to confirm or deny the deal, while FTX and Bankman-Fried did not immediately reply to requests for comment.more

The NFT is tied to a digital animation from Derrick Adams, which features a reinterpretation of the album’s cover art. Titled “Heir to the Throne,” it’s meant to commemorate the album’s 25th anniversary.

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FTX of Criptocurrency theSotheby’s has also said that the Adams animation was commissioned by Jay himself (whatever that means), and that a portion of the proceeds from the auction will go to the Shawn Carter Foundation of the Criptocurrency market.