Fasig-Tipton Saratoga Moves into Cryptocurrency Realm

Fasig-Tipton has partnered with, a cryptocurrency company with the world's fastest-growing crypto app, and Swapp Protocol, a blockchain-based DeFi platform, to offer cryptocurrency payment and rewards services at the upcoming Saratoga Sale. Fasig-Tipton's select yearling sale, to be held Aug. 9-10, will be the first Thoroughbred auction to accept cryptocurrency as payment for equine purchases. Buyers who use cryptocurrency at Saratoga will receive cryptocurrency rewards with the buyer of the most expensive horse--paid with cryptocurrency--receiving one million SWAPP tokens, which are exchangeable for various fiat and cryptocurrencies. "As Fasig-Tipton...

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The Week in Review: Breeding & Selling the Million-Dollar Racehorse That Doesn't Exist

There's an adage in poker playing that says if you take a look around the card table and can't tell who the sucker in the game is, it's you. There's also an old saw about never investing in any business transaction you don't fully understand or can't explain to someone else (or yourself) in fewer than 30 seconds. Nevertheless, the cryptocurrency-styled racehorse trading spree rages on at Zed Run, the online global marketplace that went live in 2018 and has since sold 11,000 "Thoroughbreds" that exist only as digital assets...

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Aquis Reportedly Set To Split With Phoenix Thoroughbreds

by Bren O'Brien/TDNAusNZ The Aquis Group and the Fung family have indicated they will end their Thoroughbred racing partnership with Phoenix Thoroughbreds after it was confirmed that Phoenix's prize money had been frozen in New South Wales and Victoria. The Australian Financial Review has reported that Aquis had not been informed that Phoenix's prize money had been frozen in Australia's two biggest racing states and, having failed to get answers from the Dubai-based operation, will seek to end the relationship. Aquis told the AFR that it was left in the...

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