GMO Coin to be Official Sponsor of Japanese Baseball Team

GMO Coin has declared today that it is the official sponsor of the Japanese baseball team, the Chiba Lotte Marines
26 June 2018   2359

Chiba Lotte Marines team is famous in the country, as baseball is one of Japan’s popular sports. The team have won the Japan Series Championship, the top baseball league in the country, 4 times. The most recent victory took place in 2010. Nevertheless, during this season the Chiba Lotte Marines have competed as a team. In the Pacific League, they are coming second last, just in front of the Tohoku Rakuten Golden Eagles.

The statement set that the sponsorship will let GMO Coin to contribute to the baseball team’s development and future. Japan has one of the friendliest areas for cryptocurrencies. The country officially confirmed bitcoin and digital currencies as a “means of payment that is not a legal currency” in 2016. Collaborating with the Marines, GMO Coin is supposed to increase its brand awareness.

Such tentency as sports sponsorships is becoming general for cryptocurrency brokers. This can be explained as sponsorships with sporting teams is a very attractive way to raise brand awareness for the FX, CFDs, binary options, and cryptocurrency industries. In Europe, there has been a determinate growth in cryptocurrency sponsorships. This year earlier, CashBet ran a strategic partnership with Premier League football club Arsenal FC.

The Japanese internet company presented a mobile-based crypto wallet platform on iOS called “GMO Coin Virtual Currency Wallet” on May, 2018. The platform lets the users to store multiple cryptocurrencies along with fiat. GMO Coin is aimed to be the safest virtual currency exchange in the world and will keep on investing in the development of the virtual currency industry.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   311

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.


People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.