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Crypto poker tournament feauturing Tom Dwan raises $100k for charity

·1 min read

More than $94,000 has been raised for charity ahead of a poker tournament hosted by proprietary trading firm MGNR.

Players confirmed entry to the tournament by paying $1,000 in popular stablecoin USDC, with 50% of all buy-ins being put aside for the FTX Foundation. The Foundation has raised $10.8 million for numerous charities over the past year.

The tournament field is comprised of professional poker players including Tom Dwan, as well as traders from leading quantitive trading firms like Three Arrows Capital, CMS Holdings, Folkvang and Alameda.

It will also be streamed live on Twitch via CryptoCobain, who hosts the weekly UpOnly podcast alongside LedgerStatus.

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The amount of money raised for charity demonstrates yet another key cross over between poker and trading, with both fields being underpinned by an astute knowledge of risk/reward and expected value (EV).

Traditional poker websites are beginning to warm to the idea of accepting cryptocurrencies as a form of payment, with America’s Cardroom allowing deposits from a wide range of coins and tokens, while PokerStars and PartyPoker enable deposits via third party providers like MuchBetter and Luxon.

Blockchain.poker is another venue that facilitates the deposit of cryptocurrencies to play poker, with functionality that broadens out to Bitcoin’s layer two solution, the Lightning Network.

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