Major Turkish crypto exchange BtcTurk has become the main sponsor of both the women’s and men’s Turkish national soccer teams via an agreement with the Turkish Football Federation, Cointelegraph Turkey reported on Aug. 20. According to the official announcement , this 28-month long agreement purportedly makes BtcTurk the first cryptocurrency platform to sign a sponsorship with a national soccer team. Turkey’s national soccer teams don’t use sponsor logos on their uniforms, but a BtcTurk logo will be placed on players’ training jerseys, Cointelegraph has learned. Last year, BtcTurk struck a sponsorship deal with the Turkish Super League team Yeni Malatyaspor. “We take great pride in being one of the ‘main’ supporters of our National Teams at the UEFA European Championship, which will be held in 2021 — the first time the games will be held in an odd-numbered year,” BtcTurk CEO Özgür Güneri said. When asked whether it will be possible to denominate player contracts in Bitcoin ( BTC ) or other cryptocurrencies, Turkish Football Federation president Nihat Özdemir said:”Contracts made between teams and players act as the basis in these situations. If both parties agree upon the terms of payment as crypto, then the payment can be made in crypto. If the contract allows, you can make the payments in Bitcoin, gold, or other values.”Necla Güngör Kıragası, head coach of Women’s National Team, said, “Our target is to make Turkey one of the leading countries in women’s soccer in the near future. With the support of our new sponsor BtcTurk, I believe that we can achieve our target.”

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/crypto-exchange-btcturk-becomes-main-sponsor-of-turkeys-national-soccer-teams

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OkEx Pool, the staking arm of the OkEx conglomerate, announced that it has joined an Ethereum 2.0 testnet as a Proof-of-Stake validator. As revealed by its April 29 blog entry, OkEx is now validating blocks in the Ethereum 2.0 Topaz testnet, launched by Prysmatic Labs. Alysa Xu, the chief strategy officer for OkEx, said that the exchange believes in the potential of Ethereum and its role in the industry. In addition, she revealed that the exchange is planning to promote Ethereum development after having “already established the collaboration with Prysmatic Labs.”Prysmatic Labs is one of several companies that are working on a client for Ethereum 2.0. For Ethereum 2.0, the Ethereum Foundation is allowing many independent projects to come up with their own clients. This is the software that defines how a blockchain operates, and it is important that all implementations remain compatible with each other. The Topaz testnet is a new iteration of Prysmatic Labs’ testing environment, launched on April 16. It replaced the previous version launched in 2019, called Sapphire. One of the most impactful changes between the two versions is the minimum staking requirement, which was upped from 3.2 ETH to the full 32 ETH. To access the Topaz testnet, one needs to deposit ETH on the Goerli testnet, which is running standard Ethereum 1.0. This connection is required to test one of the most critical components of Ethereum 2.0 — the deposit contract. This smart contract manages all staking activity and is a key part of the planned Ethereum Phase 0 upgrade . As Cointelegraph reported in January , the Ethereum Foundation issued a grant to the developers of Nimbus, another Ethereum 2.0 client. It is still unclear when Ethereum 2.0 may see an official release. Developers previously assured the community that the first phase is likely to come before the end of 2020. Proof-of-Stake systems often see exchanges dominate the block production process due to their control of user stakes. While this was used for political purposes in the Steem takeover scandal , other blockchains seem to have a more symbiotic relationship with exchanges . As Cointelegraph previously reported , not all exchanges allow their users to express their vote or benefit from staking — though OkEx is an exception.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/okex-becomes-a-validator-in-ethereum-20-testnet

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As the volume of Bitcoin (BTC) derivatives trading continues to rise, the cryptocurrency industry keeps tapping more crypto markets, like stablecoin Tether (USDT), for futures trading. KuMEX, a derivatives arm of IDG-backed crypto exchange, KuCoin, is planning to roll out USDT-margined Bitcoin perpetual contracts on March 30, 2020, the firm officially announced on March 27. While the new type of futures contract will be launched next week, KuMEX users are already able to deposit USDT via the web or public API starting from March 26, the company said. KuMEX offers crypto derivatives trading up to 100x leverage, according to the announcement. KuCoin told Cointelegraph that Tether will become the second cryptocurrency supported on KuMEX after Bitcoin. In the near future, the firm also plans to support other major cryptocurrencies like Ether (ETH), XRP, Bitcoin Cash (BCH) and Bitcoin SV (BSV) for trading on KuMEX. By definition, a perpetual contract is a special type of a futures contract — an agreement to buy or sell a crypto asset on a specific future date at a specific price. Unlike the traditional form of futures, a perpetual contract does not have an expiry date while its trading is based on an underlying index price. The index price includes the average price of an asset in line with major spot markets and their relative trading volume. As such, KuMEX’s BTC/USDT spot index will consist of the volume-weighted average price of BTC/USDT across six major cryptocurrency exchanges, including Binance, OKEx and Huobi. The trading volume will be adjusted on a quarterly basis, KuCoin added. Johnny Lyu, the newly appointed CEO at KuCoin Global, outlined that the USDT perpetual contracts will be “clearer and easier for new futures traders to make investment decisions using USDT.” He states that the contracts will also mitigate the volatility brought by non-pegged tokens. Additionally, the KuCoin team emphasized to Cointelegraph that KuMEX decided to choose USDT as the first stablecoin supported on the platform because the coin is “far more stable” than other coins like Circle’s USDC or Paxos’ PAX in terms of market capitalization, liquidity and user recognition. The introduction of USDT perpetual contracts on KuMEX comes as the average daily trading volume of the derivatives platform hit about $100 million, a KuCoin spokesperson told Cointelegraph. Following the trend of the overall growth of crypto derivatives trading, perpetual contracts trading on crypto markets are becoming increasingly popular. As such, Binance, one of the world’s biggest crypto exchanges by daily trading volume, reported a significant surge in trading volumes across the exchange’s futures perpetual contracts for January 2020. According to the report, the BTC/USDT perpetual contract was the most popular contract in January, recording nearly a 30% return.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/tether-becomes-second-crypto-to-launch-on-blockchain-futures-platform

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