Cryptocurrencies
TerraUSD and the Nats: A Cautionary Tale in Crypto Sponsorship
Despite Terra's collapse, the Washington Nationals still sport its logo
Nationals Park in Washington, D.C.
Photographer: Greg Fiume/Getty ImagesThis article is for subscribers only.
The Washington Nationals baseball team didn’t have a great start to their season, and that’s not just because of their losing record. They also managed to debut a sponsorship deal with the organization behind the not-so-stable stablecoin, TerraUSD. The name of that organization, Terraform Labs, is now splashed all over billboards, uniforms, seats – everything. It might have seemed like a good play when they signed the contract, but by the time TerraUSD crashed and burned in early May, it started to look more like a strikeout.