Nigel Mansell Sells Iconic Ferrari F1 Using Cryptocurrency

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An iconic Ferrari F1 was sold by its driver Nigel Mansell using the Himalaya Dollar (HDO) cryptocurrency.

The 1989 Ferrari 640, driven by Mansell for Scuderia Ferrari in the 1989 F1 season, was sold using the Himalayan Exchange-listed stablecoin.

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The transaction was concluded for the equivalent of 3.6 million euros thanks to the auction house of classic cars RM Sotheby’s. The buyer wishes to remain anonymous.

Owned by legendary F1 driver Mansell, the car has been kept in his personal car collection since 1989, having allegedly not been driven since its last grand prix race.

The Ferrari 640 earned the Italian racing team 3rd place in the 1989 Constructors’ World Championship and secured victory for Mansell at the Brazilian and Hungarian Grands Prix.

RM Sotheby’s believes this is the first time in history that a Works driver has publicly offered his own Ferrari Grand Prix at auction. It is also the first Ferrari F1 equipped with a semi-automatic gearbox.

“HDO has earned the trust of RM Sotheby’s. The exchange of HDO into the corresponding currency went smoothly,” said Bryon Madsen, President and Chief Strategy Officer of RM Sotheby’s.

“The management and staff of Himalaya Exchange acted with the utmost professionalism.”

William Je, Founder of Himalaya Exchange, said: “I am extremely happy that the buyer has decided to buy this world-class car using HDO.

“Despite the recent decline in the cryptocurrency market, HDO has consistently held steady with the US Dollar 1:1 without fluctuation. Impressively, this makes HDO the only stablecoin in the world to sustain 100% during this period of uncertainty.

“Our military-grade technology has made Himalaya one of the most secure cryptocurrencies available on the market.”

War and bear market won’t stop growth of Ukrainian Everstake

Four companies continue to hire despite the fall in the cryptocurrency market.

Coinbase crypto exchange was recently revoked job offers made to many people before they even started the roles then announced this week this is to lay off 1,100 employees to “ensure we stay healthy during this economic downturn”.

Small exchange BlockFi also revealed that it will lay off 20% of its staff, affecting around 170 people.

However, other exchanges Binance and Kraken, as well as layer 2 sidechain Polygon, continue to grow.

Everstake, a Ukraine-based blockchain company, is also continuing to hire despite the crash triggered by Terra’s crypto meltdown and the Russian invasion of its country.

The largest decentralized staking provider, which has 625,000 users, has made plans for a bear market as well as a war.

“During the war in Ukraine, we hired more than 30 employees. Right now we have over 10 openings in marketing and development,” Vlad Likhuta, head of growth, told BusinessCloud in an email.

CEO Sergey Vasylchuk tweeted that the company had prepared a “special fund” in advance.

“An important part of doing business is to assess and deal with all potential risks,” he said. “We couldn’t help but expect another stock market crash simply because risk management dictates always expecting things to go wrong.”

Everstake recently created a rap video to urge the crypto community to continue donating to charity Help for Ukraine.

Cryptocurrency Shorts

Uniswap, a decentralized platform enabling automated transactions between cryptocurrency tokens on Ethereum, has appointed former New York Stock Exchange President Stacey Cunningham as an advisor.

Benjamin Delo, co-founder of cryptocurrency exchange BitMEX, was sentenced to 30 months probation by a New York court for violating anti-money laundering laws. This follows his guilty plea to the charges in February of “willful failure to establish, implement and maintain an anti-money laundering (AML) program”.

According to CryptoMonday, Thailand has the highest number of NFT users, 5.65 million, and also tops the population ratio with 8.08%. Brazil comes in second with 4.99m, while the United States takes third place with 3.81m. The UK is not in the top 10.

Crypto prices

The aggregate market capitalization of over 19,800 coins is $948.29 billion at the time of writing (7am UK), an increase of 5.5% in the last 24 hours.

Market leader Bitcoin – the original cryptocurrency created by the mysterious Satoshi Nakamoto – has gained 4% in the past 24 hours to approach $22,000. BTC remains down 28% in a week.

Ethereum, the second most valuable crypto coin — created as a decentralized network for smart contracts on the blockchain — rose 6% to $1,185. ETH is down 34% in a week.

Binance Coin is a cryptocurrency created by popular crypto exchange Binance to help it become the infrastructure service provider for the entire blockchain ecosystem. Its BNB token gained 7% to $227, leaving it down 21% over seven days.

Cardano is an open-source network facilitating dApps that sees itself as an updated version of Ethereum. Its ADA token, designed to allow owners to participate in the operation of the network, added 11% to 51 cents but is down 21% in a week.

Ripple’s XRP token, a payment settlement asset exchange and remittance system, acts as a bridge for transfers between other currencies. XRP gained 10% to 33.5c but its price is down 17% from seven days ago.

Solana is a blockchain designed to make decentralized finance accessible at scale – and capable of processing 50,000 transactions per second. Its SOL token added 20% to $33.79 but is down 14% from a week ago.

The Meme DOGE coin was created as a satire on the hype surrounding cryptocurrencies, but is now a major player in the space. DOGE gained 13% to 5.9c, leaving it down 26% in a week.

Polkadot was founded by the Swiss-based Web3 Foundation as an open-source project to develop a decentralized web. Its DOT token, which aims to securely connect blockchains, rose 12% to $8.02 but is 13% lower than its price a week ago. It was topped in the price chart by market capitalization by DOGE.

Avalanche is a lightning-fast auditable platform for institutions, businesses, and governments. Its AVAX token added 15% to $17.71 but is down 27% in a week.

To see how the valuations of major coins have changed lately – and for a roundup of recent developments in cryptocurrency news – click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price changes, see below.



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Nigel Mansell Sells Iconic Ferrari F1 Using Cryptocurrency


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