Executives from major crypto outfits including Coinbase, FTX, and Circle are set to appear in front of Congress today as Washington considers future regulatory practices for cryptocurrency. The hearings, which will be led by the Chairwoman of the House Committee on Financial Services Maxine Waters (D-CA), are expected to call on the crypto execs to exhibit more accountability to their users and the general public. However, it also serves as a chance for the leaders to demystify cryptocurrency and highlight the potential benefits for the economy.
Endeavor Unveils Diamond Baseball Holdings
The MLB may be locked out, but Endeavor is making moves to ensure that it has a key role in the future of player development. The sports entertainment firm announced on Wednesday that has formed Diamond Baseball Holdings and is in various stages of negotiation to purchase nine minor league baseball affiliates. In a statement, Endeavor President Mark Shapiro said that it is committed to “turbocharg[ing] these storied clubs using the scale and capabilities of Endeavor.” The news is just the most recent in a series of private equity power moves in the world of sports.
UCLA Basketball Star Dominique Onu Added to FTX’s All-Star Roster
The redshirt freshman inked an NIL deal with cryptocurrency giant FTX, adding her to its star-studded list of athlete ambassadors, which includes Steph Curry and Tom Brady. It is not the first foray into college hoops for the crypto company, which signed the University of Kentucky men’s basketball team last month to a team deal.
New York Rangers Become First NHL Team to Eclipse $2B Valuation
The Rangers topped the NHL’s most valuable list per Forbes’ Mike Ozanian, making it the first team to surpass a $2 billion valuation. The Maple Leafs, Canadiens, Blackhawks, and Bruins rounded out the top five, with team values between $1.3 billion and $1.8 billion. The news signals that the NHL’s push for increased fan acquisition and engagement has been effective and that these figures are likely to steadily rise in the future.
NBA Foundation Announces Grant Recipients Just in Time for Holidays
The NBA Foundation awarded its fourth round of grants totaling $11M across 38 non-profit organizations on Tuesday. The recipients were named as part of the league’s Season of Giving, a 5-week celebration during the holiday season. One of the selected organizations includes The Brotherhood Sister Sol (BroSis), the Harlem-based Black and Brown-led social justice organization that educates young people, organizes with them for justice, and trains educators.
FaZe Clan Links with MoonPay to Lay Foundation for FaZe Forever
Both MoonPay and FaZe Clan have positioned themselves to make big moves. After announcing its intentions to go public, FaZe Clan unveiled a multi-year partnership with the crypto company. Through their collaboration, MoonPay will help the esports company build the foundation for its upcoming NFT business, FaZe Forever, and will allow its users to purchase NFTs in 160 countries across the world.
Social Experience Platform Topia Expands with Verified NFT Possibilities
Topia, a platform of interactive digital worlds that unites content creation, social networking, and live events, announced two new features on Wednesday: support for both verified NFTs and the creation of unique user profiles across its metaverse. With the new additions, users will be able to introduce their owned NFTs into Topia’s virtual worlds. Investors in the company include Bonfire Ventures, Thirty Five Ventures, and Alexis Ohanian’s Seven Seven Six.
Devils’ Helmet Ad Spot Designated for Black-Owned Music Company Razu
Prudential will donate its placement on the New Jersey Devils’ helmets to a Black-owned business for 30 road games as part of its Devils Buy Black initiative. Following an extensive application process, Razu, a New Jersey-based collaboration and networking platform for musicians, was selected as the winning business, it was announced on Tuesday. Razu will make its helmet debut as the Devils hit the road this Saturday
Classic Banksy Work “Love is in the Air” to Get NFT Treatment
The mysterious guerilla street artist’s work is highly sought after and has even been the subject of the documentary Exit Through the Gift Shop. Now Banksy fans have a chance to secure a piece of his coveted work. Particle Collection, the fine art company, has announced that it will break his classic piece “Love is in the Air” into 10,000 digital pieces, each representing a part of the painting, which will sell for $1,500 each.
Peloton Adds Boxing to At-Home Workout Offerings
It’s been a year of ups and downs for the exercise equipment and media company, but they are capping things off with a jab. Peloton announced on Tuesday that it is adding boxing to its at-home offerings. In addition to one-off classes, they assembled a two-week training program “Get Hooked” featuring some of their über-popular instructors, including Kendall Toole, Rad Lopez, and Selena Samuela.
Lewis Hamilton Teaches a Winning Mindset with Masterclass Course
Hamilton is in the midst of a historic Formula 1 season. Tied with rival Max Verstappen in the points standings, the Mercedes driver will take on the Abu Dhabi Grand Prix this weekend in hopes of securing his eighth F1 title. And now he’s teamed up with Masterclass to offer insights on how to cultivate his signature winning mindset to the masses. As part of the collaboration, Hamilton is also giving away 200,000 Masterclass memberships in partnership with organizations in his native U.K. that provide science, technology, engineering, art, and math programming to youth.