Brewers send Joel Payamps outright to Triple-A Nashville after he clears waivers
MILWAUKEE — Right-handed reliever Joel Payamps cleared waivers and was sent outright to the minor leagues on Thursday, a week after the Milwaukee Brewers had designated him for assignment.
Payamps, 31, will report to the Brewers' Triple-A Nashville affiliate.
After playing a key role in Milwaukee's bullpen the last two years while helping the Brewers win back-to-back NL Central titles, Payamps has struggled this season. He has gone 0-1 with one save and an 8.35 ERA in 23 appearances while striking out 16 batters over 18 1/3 innings.
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Fast Company
34 minutes ago
- Fast Company
‘We're on the cusp of more widespread adoption': Laura Shin on Trump, stablecoins, and the global rise of cryptocurrency
With the first family actively engaged in memecoin ventures, speculation about the future of cryptocurrency has never been hotter. Laura Shin, crypto expert and host of the podcast Unchained, reveals the sector's emerging economic, political, and geopolitical implications. Shin also provides context for why stablecoins are growing so fast and how the current administration is shaping the conversation. This is an abridged transcript of an interview from Rapid Response, hosted by Robert Safian, former editor-in-chief of Fast Company. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today's top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. You call yourself a no-hype crypto journalist, so can you give us a short, no-hype overview of where we are right now in crypto's evolution? Yeah, I would say we're probably on the cusp of more widespread adoption. The number-one biggest reason is simply that the Trump administration is really embracing crypto. That has not been true of previous administrations. In fact, the Biden administration was probably, I want to say, actively hostile. I don't know if people will love that term, but that's probably a pretty accurate description. For a long time, there were a lot of entrepreneurs who were cautious about doing things in the U.S. This administration is more, not only open-minded, but even in some regards almost a little bit too embracing of crypto, you could say. I think there's going to be probably a decent number of crypto IPOs this year, but then on top of it, stablecoins are probably the first major application that has really found what the industry likes to call product-market fit. We're seeing that stablecoins have a huge amount of uptake, especially in so many other jurisdictions where they don't trust their local currency. It could be Argentina or Venezuela or Turkey or Nigeria. There are just a lot of places where people don't actually have a great way to save their money, and they maybe don't also have really great ways to send money across borders. So, stablecoins are fulfilling that role and Congress is probably on the cusp of finally passing legislation here in the U.S. around stablecoins. For a layperson, someone not engaged in the crypto world, can you just explain what a stablecoin is relative to a memecoin, relative to whatever the portfolio might look like? Yeah, so a stablecoin is any blockchain-based asset that is pegged to the value of some other asset—99% of all stablecoins are pegged to the value of the U.S. dollar. The way that stablecoins really took off initially was that on a number of crypto exchanges, people wanted to be able to buy and trade using dollars. I wrote this book called The Cryptopians, and it covers 2013 until 2018. Even at that time, people would recite back to me the price of Bitcoin or the price of Ether in dollars. No matter whether they were European or Asian or just wherever they were in the world, they always knew the price in dollars. . . . Here's a really simple example: There's a serial entrepreneur in Afghanistan. Her name is Roya Mahboob, and she had this microblogging platform, and I think a lot of the people writing for it were women. They had a hard time paying them, because a lot of women in Afghanistan, they don't have bank accounts, or if they do, then their male relatives might actually take the money that they earned from them. So [the platform] set them up with Bitcoin wallets and then taught them how to use them. One of the women was in an abusive marriage and saved up the Bitcoin and then used that to eventually divorce her husband, so that gives you some kind of agency. I have some close Turkish friends, and I think it was in 2018, the value of the lira was just going down and down. So it's like people in those places I think grasp these kinds of things a lot more quickly, like the value of crypto. Having a form of money that isn't influenced by a central bank, that's stablecoins. Because the stablecoins are generally linked to the U.S. dollar, it's a way to sort of have dollars without having dollars, right? Exactly. I mean, you're getting the stability of that U.S. market, which there's some irony in that, because of course one of the philosophical ideas around crypto is that it's not linked to a government, that it's separate. Now we're going to get really deep into this. So you're correct that this is people wanting U.S. dollars, which is a form of currency linked to a specific government, but of course the people who want those dollars are people who don't otherwise have the privilege of easily accessing them. Bitcoin, of course, existed before stablecoins ever existed. There have been times when the Bitcoin price would go up, and then it would crash for a little while, and then it would go up again and then it would crash, and so that's kind of when you started to see stablecoins also take off. A lot of people view Bitcoin as a good long-term investment, but on any short-term timescale, you don't really know where the price is going to be, so if you need the money on a shorter-term timescale, then you would probably rather have something more stable, and so that's where the interest in stablecoins came about. There's a reason why 99% of the stablecoins are denominated or pegged to the value of the U.S. dollar, and it's of course because we're the global reserve currency, so there's a lot of safety there. Trump seems like he's done a full 180 on crypto. I mean, he said it was a scam during his first term and then supported it very strongly in his campaign. He's launched his own Trump coin three days before the inauguration. Do we know how much of Trump's crypto position is about political opportunity or financial opportunity, or some larger philosophy about markets? I don't think there's a larger philosophy. I think most people probably know what Trump's MO is. But let's just say he's president and he took a luxury jetliner from the Qataris, so whatever it is that you think that says about him, it applies to his activities in the crypto world. What I will say though, aside from his personal dealings, which by and large in my opinion, they're business dealings, things that would help his family or him. He launches this memecoin, which by the way, to make one of these things costs almost no money, so I just want to make that clear, and you're basically printing money out of thin air, right? But then on top of that, the people who got in very early, they just had some agreement where they had to hold their coins until whatever it was, 90 days or I forget what the number of days was. Now, fortuitously, when that deadline came, [Trump] announced that he was going to have a dinner, and in order to participate in the dinner, you had to be one of the top holders of this coin, so of course the price shot up right at that time when this unlock was happening for those insiders. Just note the timing there and put those two facts together and you can make your own conclusions, but, well, let me put it this way: Trump saw that the Biden administration alienated the crypto community. He realized these people have money and they hate the Democrats. . . . He said, 'I'm the crypto candidate,' and he even went to the Bitcoin conference last year. He made all these promises to the crypto community and Bitcoin communities. On top of that, people in his personal orbit, his family, realized this industry is going to get bigger, this industry's all about money, and so they have been taking advantage. So you will see, and this is very interesting, there were a number of people who were very passionately pro-Trump during the campaign, and then once the memecoin thing happened, because not only Trump, but also Melania launched a memecoin, and they were not happy about what he was doing. It was reported that their company, World Liberty Financial, was doing deals with different token teams where basically they were just exchanging money. 'I'll give you this amount of money if you buy the World Liberty Financial token, and we'll buy this amount of your token. I'll scratch your back and you scratch mine.' But people in the industry also kind of look down on that, because it's not organic.
New York Times
40 minutes ago
- New York Times
Browns minicamp: QBs slowly making strides, Denzel Ward still in top form
Save for a couple of passes thrown in the direction of tight end David Njoku and a few offensive snaps destroyed by all-world defensive end Myles Garrett, what we've seen through two days of mandatory minicamp for the Cleveland Browns is mostly what we saw in brief glimpses of rookie minicamp and voluntary organized team activities. Advertisement We've been largely tracking the quarterback competition. It's the most intriguing and important part of this early phase of the Browns' road back from 3-14, and it's what is easiest to watch in any non-contact spring setting. This year just happens to have the Browns trying to find something from a group headlined by the 40-year-old Joe Flacco, Kenny Pickett on his third team in three years and two rookies drafted in April, Dillon Gabriel and Shedeur Sanders. Flacco gets the fewest reps because he's the most experienced. He's been in the NFL since Sanders was in kindergarten. Pickett is usually first in the warmup lines and first up for a lot of drills. Gabriel goes first with the backups because he was drafted before Sanders. On each of the first two days of minicamp, Gabriel has taken snaps with the No. 1 offense in full-team situations against at least most of the No. 1 defense. Dillon dart 🎯 — Cleveland Browns (@Browns) June 11, 2025 What we've continued to hear from Browns coach Kevin Stefanski is that the quarterback order doesn't matter and, in many cases, the results don't, either. Stefanski has repeatedly said the Browns are installing plays, stressing fundamentals and just getting the quarterbacks ready for training camp this summer. Those are boring answers, but they match what we've seen on the field and what a normal May and June process would be for almost any team, even in this abnormal situation. From my view on the sidelines, these two minicamp practices have been Gabriel's best throwing days. He's finished both strongly after erratic starts. Sanders comes in and generally gets the ball out of his hand quickly and confidently. Flacco can still fling it when he's asked to, and Pickett has been unremarkable. But this is about process more than results — even if that line makes longtime Browns fans cringe — and that shows up in the work that's done on the practice field before reporters scramble to record certain throws for social media or chart each passer's daily performance. On Wednesday, for example, the quarterbacks went through extended work on shotgun handoffs and play-fakes. We've heard both rookies discuss leaning on Flacco in the meeting room for his experience on how to diagnose defensive concepts, and we've twice heard Flacco say the rookies even want to mimic his cadence as part of them trying to digest everything that's being taught at this early stage. Stefanski has said the team has now gone through seven different installation packages for the offense. Just by the natural order of things, the quarterbacks should be completing more passes than they were in mid-May. But sometimes the defense knows what's coming, too, and almost all of the true highlight throws and catches that end up on social media have been made in 7-on-7 settings. Advertisement To go full Allen Iverson, this is just practice. This is about the small stuff — details, brief introductions, little tips and tricks — that later can help with the big stuff. The quarterback competition that got bigger on the final day of the draft was never going to be super interesting until August. It's fair to say, too, that the addition of Sanders is actually what makes it intriguing. Not just his presence, but the accuracy and decisiveness he's shown this spring. The Browns having four quarterbacks has re-shaped everything about how they handled the offseason program, and it will be the headline story of the summer. From here, the belief is that Flacco is the clear favorite to win the first phase of that competition and the starting job. How the rest of it shakes out is anyone's guess, but Sanders has been good enough this spring to make coaches believe he's worthy of more chances this summer. I think he's earned that, and based on what we've seen to this point, Sanders has positioned himself to make the roster and eventually make the folks in charge think about where he might belong on the depth chart. That's all getting way ahead of things right now, so we'll defer to what Stefanski has repeatedly said and pump the brakes. Here at the end of what can fairly be called a three-week quarterback camp, Flacco is the best passer, and Sanders made enough impressive throws to make me think Cleveland might be on to something with him. A camp that features real football and ends with real decisions that could shape the future of the franchise starts in about six weeks. Let's save most of our overreactions for then. Last summer, the Browns rewarded Pro Bowl cornerback Denzel Ward with a practice off on the last day of minicamp for his perfect attendance through every phase of the offseason program. Ward has had perfect attendance again this year. Advertisement Being present means something to Ward, who's now in his eighth season. Frankly, Ward's presence has prevented almost all of Cleveland's quarterbacks from having more completions in the open practices, and that's part of making everyone better. Ward said Wednesday what I thought was obvious: that 2024 was his best season. He appears to be in top form again, and the best version of Ward gives the Browns a chance to be good enough defensively to help the team collect some wins early in the season. The defense is going to greatly miss the presence of injured linebacker Jeremiah Owusu-Koramoah, but just getting a little more help from the offense and being better up front with first-round defensive tackle Mason Graham can help the Browns' defense create the kind of havoc it might need. Ward dropped several potential interceptions last season, and defensive coordinator Jim Schwartz has cited those as 'the difference between (Ward being) Pro Bowl and All-Pro, the game-changing plays.' Ward has taken that challenge, and he's the best player in an experienced secondary that has the team's No. 2 and 3 cornerbacks, Martin Emerson Jr. and Greg Newsome II, both signed only through 2025. In the grand scheme of things, I don't think Garrett and Njoku choosing not to participate in the voluntary OTA practices means much. But I do think the Browns are going to purposefully have a more competitive training camp than they had last year, and I think the search for stronger leadership and a hungrier overall outlook are going to be consistent themes. I think Schwartz heads to each week of the season believing he can count on Ward and Garrett to be among the best in the game, and that's a pretty good place to start. The wide receiver group has been short-handed with Cedric Tillman and Michael Woods II watching from the sideline with what are believed to be minor injuries. Tillman is a locked-in starter for this team if healthy, and Woods has a shot to make the roster and the wide receiver rotation, too. Thus far, it's been Jerry Jeudy and then everybody else in these spring practices. Given what the Browns pay Jeudy and the way he performed in the back half of last season, that's no surprise. .@jerryjeudy with room to run 🏃♂️💨 — Cleveland Browns (@Browns) June 11, 2025 But the Browns didn't draft a receiver. Two days after the draft, they signed Diontae Johnson to a one-year deal that includes no guaranteed money. Johnson is a proven producer, but he's been on five teams in the last 15 months and told reporters Wednesday that Cleveland was really the only team calling him earlier this spring. Johnson was clear he's focused on what's ahead, not the past, and not what he repeatedly said was just one bad year. Stefanski said much of the same, and something close to the best version of Johnson should be able to help the Browns. Second-year wideout Jamari Thrash seems to be making the most of the extra opportunities he's received this spring. The Browns loaded up on undrafted rookie receivers to make sure there were enough available players for the extra passing periods. Advertisement But unless either Thrash or Woods makes a big leap, the Browns still might be in the wide receiver market in August. And if Johnson doesn't work out or Tillman doesn't build on the momentum he created last year before missing the end of the season with a concussion, the team runs the risk of the receiver group reverting to what it mostly currently looks like: Jeudy and everyone else. Maybe Njoku is in for a big season. He's in a contract year, so he should be engaged and looking to re-find his form. I believe the Browns got a nice player for the future in third-round tight end Harold Fannin Jr., but Fannin's early role might depend on how quickly he can be trusted to block — and how much the coaches trust the other players in the pass-catching group.
Bloomberg
41 minutes ago
- Bloomberg
Oil Edges Lower as Traders Take Stock of Mideast Tension
The Opening Trade Oil prices edged lower -- after jumping more than 4% on Wednesday -- as traders tracked tensions in the Middle East and the latest moves in US trade policy. Bloomberg's Anthony DiPaola reports. (Source: Bloomberg)
