Saturday, April 17, 2021

The Investor Who Turned $300K to $2.4 Billion Investing in Coinbase

Just a day after its official public listing, Coinbase is already creating multi-billion-dollar success stories. The popular angel investor and founder of Initialized Capital, Garry Tan, told his story in which he turned a $300,000 invested in Coinbase upon the company’s launch into $2.4 billion.

Tan’s Initial Story with Armstrong and Coinbase

Long before Coinbase became the US’s largest crypto exchange and be valued at about $100 billion, Brian Armstrong’s brainchild had a more modest start. In fact, it even had a different name – Bitbank.

Tan’s story began after receiving an email from Armstrong in which the latter said he was “coding like crazy” for weeks and was looking for a cofounder. Tan’s initial advice urged Armstrong to “show people that what this could be is much bigger than what else they’re doing.”

He continued cryptically, adding that “you already know your future cofounder. They just don’t know it yet.” Although Tan admitted that no one really believed in bitcoin back then – the only asset Bitbank supported – he was actually a fan of Armstrong and did him a favor.

More specifically, Tan ranked Armstrong an infinite score in YC’s admissions software, which ensured the latter’s acceptance into the program. When he attended it, though, the company already had gone through a name change – from Bitbank to Coinbase.

Tan admitted that most people averted from investing in Coinbase initially; however, he saw massive potential mainly because of the lack of adequate solutions. After all, BTC had already existed for a few years. He had a “terrible experience” trying to buy bitcoin from Mt. Gox, so he decided that he should be involved in a project promising to facilitate the process.

Garry Tan. Source: BusinessInsider

Belief in Bitcoin; Disbelief in Dollar

Perhaps the most significant reason why Tan wanted to help in making bitcoin more easily accessible was his doubt in the dollar’s future value. He referred to President Nixon’s infamous act where the 37th POTUS removed the greenback from the gold standard.

By doing this, the USD became a “printable at will” fiat currency. In contrast, bitcoin is a pre-programmed asset with a fixed supply that cannot be enhanced with politicians’ signatures. Furthermore, its issuance decreases every four years after an event called halving, which reduces the inflation rate as well.

Enjoying a 6,000x ROI

BTC’s merits, combined with Tan’s firm belief in Armstrong as a “builder,” convinced him to become a vital part of Coinbase’s start and future. Ultimately, Tan allocated a substantial amount of $300,000 in Coinbase.

As reported yesterday, less than a decade later, the exchange went public through a direct public offering. According to several sources, including Bloomberg, Coinbase became the largest direct listing in history with a valuation of about $100 billion.

Naturally, this meant massive returns for stakeholders. Tan indicated that his initial investment had delivered a whopping ROI of 6,000x, meaning that it was worth a mind-blowing $2.4 billion.

Featured Image Courtesy of Bloomberg

Title: The Investor Who Turned $300K to $2.4 Billion Investing in Coinbase
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Published Date: Sat, 17 Apr 2021 14:15:11 +0000

NFL Draft Sneak peek: Linebacker class headlined by 1 year standouts

This is an interesting piece by Ryan O’Halloran from The Denver Post talking about several important news items this week. Ryan O’Halloran recently published the article and I thought it was a great post for posting here.

NFL Draft Preview: Linebackers


A position group long on potential, but short on experience/production. Teams that have a linebacker need and are drafting outside the top 10-15 picks may be able to stay put and get their preferred player. Micah Parsons and Gregory Rousseau opted out of 2020. Jayson Oweh had no sacks. Kwity Paye played only four games. And Jamin Davis and Jaelen Phillips are one-year wonders.

The Top 10

1. Micah Parsons, OLB/ILB, 6-foot-3, 246 pounds, Penn State. A one-year starter (2019), but what a season it was — 109 tackles (14 for lost yardage) and four forced fumbles in 13 games.

2. Jeremiah Owusu-Koramoah, ILB, 6-1 1/2, 221, Notre Dame. A top-30 safety in high school who played a hybrid linebacker-safety role in college, raising the question of which position is best for him in the NFL. He redshirted in 2017 and played only two games in ’18 (broken foot), but had 142 tackles in 2019-20, including a whopping 24 1/2 tackles for loss.

3. Kwity Paye, OLB, 6-2 1/2, 261, Michigan. Paye has the size to be a 3-4 outside linebacker in the Broncos’ scheme. But he had only one year of solid college production — 50 tackles and 6 1/2 sacks in 2019. He played only four games last year because of a groin injury (16 tackles, two sacks).

4. Gregory Rousseau, OLB, 6-6 5/8, 266, Miami (Fla.). One of the draft’s high-risk/high-reward prospects. In his three years for Miami, he redshirted (ankle injury), had 15 1/2 sacks (second nationally behind Chase Young) and opted out.

5. Zaven Collins, OLB, 6-5, 259, Tulsa. Highly honored after a 2020 season in which he had 53 tackles, four sacks and four interceptions in eight games (first-team All-America). He projects as a 3-4 inside linebacker and his 13 career pass break-ups suggest he can instantly be a sub-package player.

6. Jaelen Phillips, OLB, 6-5 1/2, 260, Miami (Fla.). Some teams may like Phillips more than his Miami teammate Rousseau because of his pass-rushing potential. Phillips missed 14 games in 2017-18 with UCLA (ankle, wrist and concussion), but had a team-high eight sacks in his only year with the Hurricanes.

7. Jamin Davis, ILB, 6-3 1/2, 234, Kentucky. An out-of-nowhere prospect who was in a spring 2020 competition just to start for the Wildcats. He led the team with 102 tackles and ran the 40-yard dash in 4.47 seconds.

8. Azeez Ojulari, OLB, 6-2 1/4, 249, Georgia. As a third-year sophomore, he led the SEC with 12 1/2 tackles for loss, 8 1/2 sacks and four forced fumbles. At his listed weight, defending the run may be an initial challenge, but he will make up for it on third down as a pass rusher.

9. Carlos Basham, OLB, 6-3 1/4, 274, Wake Forest. Depending on the team that drafts him, he will be a 4-3 end or a 3-4 outside linebacker. He had 20 1/2 sacks in 45 games (33 starts) and posted an impressive time of 4.59 seconds in the 40.

10. Joseph Ossai, OLB, 6-4, 256, Texas. Another prospect who projects as a 3-4 outside linebacker, Ossai had 145 tackles and 10 sacks in his final two years for the Longhorns (24 games).

Stock Rising

Joe Tryon, Washington

Listed at 6-foot-5 and 262 pounds before opting out of 2020, Tryon had eight sacks and 12 1/2 tackles for loss in his final college year. Tyron could represent good value early in the second round.

Stock Falling

Jayson Oweh, Penn State

He will be over-drafted despite not recording a sack last year for the Nittany Lions. That “0” on his stat chart is tough to overlook … so we won’t.

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Five-year trend

2016: Two (first round picks).

2017: Five.

2018: Four.

2019: Four.

2020: Four.

Sunday: Defensive backs.

Nuggets' 2020-21 champion odds splash after Jamal Murray experiences torn ACL

Interesting piece by Joe Nguyen from The Denver Post discussing several important news items this week. Joe Nguyen recently posted the article and I decided it was well worth sharing on this website.

The Nuggets’ championship chances took a dip after guard Jamal Murray suffered a torn left ACL, according to to oddsmakers.

Denver has +2,500 odds — meaning a $100 bet would win $2,500 — to win the NBA Finals, according to, falling from +1,600. The Nuggets have the seventh-best odds to win the title, behind the Nets (+225), Lakers (+325), Clippers (+550), Jazz (+750), Bucks (+900) and 76ers (+1,200). The BetMGM sportsbook gives Denver a lower chance at +3,000 odds.

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Meanwhile, the Nuggets are fifth to win the West, according to, at +1,200. The Lakers (+175) are the favorites, followed by the Clippers (+280), Jazz (+325) and Suns (+1,000).

Murray, 24, suffered the injury in Denver’s Monday night loss to Golden State. He finishes the season averaging career highs in points (21.2), steals (1.3), field-goal percentage (47.7%) and 3-point field-goal percentage (40.8%).

His presence will surely be missed in the postseason. Last year, he averaged 26.5 points, 4.8 rebounds and 6.6 assists as the Nuggets advanced to the Western Conference FInals.

Arapahoe Basin acquiring a fast airlift and other upgrades

This is an interesting article by John Meyer, The Know from The Denver Post discussing several important news items this week. John Meyer, The Know recently posted the article and I decided it was worth syndicating on this website.

The U.S. Forest Service will let Arapahoe Basin replace a key chairlift and construct a warming hut with food service on the upper part of the mountain.

The Lenawee lift, which is a slow, fixed-grip, three-person chair from mid-mountain to the summit, will be replaced during summer 2022 by a faster, detachable-grip chair that’ll seat either four or six. A-Basin management hasn’t yet decided the seating situation.

The Steilhang Hut, which will be constructed this summer, will offer year-round food service, indoor seating and an outdoor deck. It will be constructed near the Via Ferrata (the “Iron Way” in Italian) rock climbing area on the East Wall, which is set to open this summer with steel cables, iron rungs and harnesses for safety protection.

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The Forest Service also approved a new food service building adjacent to the Black Mountain Lodge.

“Downhill skiing is one of the primary recreational activities that make the White River National Forest the most visited national forest in the country,” said Bobbi Filbert, acting Dillon district ranger. “These improvements are within A-Basin’s permitted operational boundary, and the project is designed to minimize potential impacts to other resources.”

Existing lift towers will be retained where feasible, the news release from the Forest Service said. No trees will need to be removed, and wetlands will be avoided.

Subscribe to our weekly newsletter, The Adventurist, to get outdoors news sent straight to your inbox.


NFL Draft Diary: Broncos play-caller Tap Shurmur runs into street to see Justin Specialization' second Pro Day

Interesting article by Ryan O’Halloran from The Denver Post discussing some important events this week. Ryan O’Halloran recently posted this and I thought it was a great post for publishing on this website.

It was Broncos offensive coordinator Pat Shurmur’s turn Wednesday to hit the road, breaking away from the team’s NFL Draft preparations to attend Ohio State quarterback Justin Fields’ second Pro Day session in Columbus.

General manager George Paton and quarterbacks coach Mike Shula watched Fields’ first workout March 30, so the Broncos are trying to get as many in-person eyes on the top prospects as possible. Only three people per team are permitted to attend due to health-and-safety regulations.

Is sending Shurmur to the workout a big deal, little deal or no deal?

Shoot, let’s go with big deal. It’s all about due diligence and coaches like to watch quarterbacks throw in-person to get a better feel for the velocity, accuracy and flight of the passes.

The Broncos have the ninth pick in two weeks and it’s a gamble to stay put and hope Fields falls to them. If they eye him as a long-term option, they will need to be proactive and move up.

Fields started his career at Georgia, then transferred to Ohio State, where he started 22 games in 2019-20 and had 63 touchdowns and nine interceptions.

“Justin Fields, to me, is exactly what the NFL is trending (to) as far as his physical skill-set,” ESPN college football analyst Kirk Herbstreit said during a video conference Wednesday. “There is a lot of evidence and proof (of his ability) and in a lot of big games he played in during his career.”

Fields completed 67.2% and 70.2% of his passes at Ohio State and also showed the ability to escape the pocket to run for yards (15 touchdowns the last two years) or buy time to throw.

“I love his versatility,” Herbstreit said. “He can throw the ball downfield, he can throw the ball intermediately, he has the levels concepts and he can create off-platform very comfortably. I don’t think you’re pigeon-holed (offensively) if you take him.”

Evaluating Parsons. A lot of mock drafts continue to slot Penn State linebacker Micah Parsons to the Broncos at No. 9. The way things could fall, Paton could move down a few spots, pick up an extra second-rounder and still get Parsons.

Listed at 6-foot-3, 246 yards, Parsons ran a 4.36-second 40-yard dash and was ultra-productive in his only year as a starter (2019 — 103 tackles, five sacks, four forced fumbles and five pass break-ups). He opted out of last year.

I searched for some Parsons tape on YouTube and found a 32-snap sample size from Penn State’s Cotton Bowl win over Memphis (his last college game).

The takeaways: I charted Parsons as being a “factor” on 13 of the 32 plays. … Breakdown on where he lined up – – off-the-ball linebacker (28 snaps), on-the-ball outside linebacker (three) and on-the-ball inside linebacker (one). … What jumps off the screen is his speed laterally — he covers a lot of ground in a short amount of time and has a combination of suddenness and agility to avoid bigger men trying to block him. … He mostly played zone coverage and dropped a sure-fire interception. … Helping Parsons was Memphis forgot to block him on several plays.

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Pitts could make history. Florida tight end Kyle Pitts could make history April 29. Frequent resource Dan Daly tweeted the list of tight ends selected in the top 10 since 1960. It’s a short list.

Only 15 have been selected among the first 10 picks and none in the first four. Pitts could go to Atlanta at No. 4.

Mike Ditka (1961 to Chicago) and Riley Odoms (1972 to the Broncos) went fifth overall.

Footnotes. The folks at BetOnline aren’t guessing how the first round develops, but they are projecting the favorites for Offensive Rookie of the Year. The top five are quarterbacks Trevor Lawrence (11/4), Zach Wilson and Fields (both 9/2); tight end Kyle Pitts (15/2); and quarterback Mac Jones (10/1). My pick would be receiver Ja’Marr Chase (12/1). BetOnline also makes the Broncos the favorite (3/2) to acquire Carolina quarterback Teddy Bridgewater. … Chase makes sense to Cincinnati at No. 5 to reunite with quarterback Joe Burrow so long as the Bengals think Riley Reiff can be a good left tackle.

Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future.

According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history.

Hash rate underscores miner commitment

Coming as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine months. 

Bitcoin average hash rate chart. Source: Glassnode

An estimate of the computing power dedicated to the network by miners, the hash rate has traditionally acted as an early signal that a bull run is imminent. Price action, as various sources have noted over the years, tends to follow any major rises weeks to months later.

As Cointelegraph reported, however, the hash rate is just one of a host of on-chain metrics flashing firmly bullish this year. 

Commenting on their relationship to price, investor and serial Bitcoin pundit Anthony Pompliano argued that new all-time highs for BTC/USD were similarly foretold by prior on-chain activity.

“This comes as no surprise, with last week’s letter describing a very bullish setup on-chain and was just a waiting game until price broke out of consolidation,” he wrote in his latest newsletter Friday.

Buying pressure sweeps Coinbase

Joining the optimism on the day, meanwhile, was the so-called “Coinbase premium,” a metric dedicated to the difference in the price of Bitcoin on major exchange Coinbase versus fellow trading platform Binance.

As noted by data resource CryptoQuant, the higher the “premium,” the more implied buying pressure Coinbase is seeing. Currently, the figure sits at 0.33, spiking sharply overnight.

Coinbase premium vs. BTC/USD chart. Source: CryptoQuant

Coinbase successfully debuted on Nasdaq earlier this week, bringing its profile and that of cryptocurrency more broadly to a new mainstream audience.

Bitcoin itself, however, has yet to see a transformation — its price coming down from the highs witnessed just before Coinbase went public to test $60,000 support repeatedly thereafter.

An area around $61,200, described as crucial to maintaining upward momentum, failed to secure bulls’ interests.

Turkey moving to ban transactions in cryptocurrency, while practically irrelevant to the industry as a whole, did not help sentiment as the news broke earlier on the day. The ban will take effect on April 30.

Title: Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag
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Published Date: Fri, 16 Apr 2021 15:40:30 +0100

What the forks? Bitcoin Cash and Ethereum Classic see triple-digit rallies

It’s undeniable that Bitcoin (BTC) and Ether (ETH) are currently the two most dominant cryptocurrencies, and as a result, they receive most of the attention from the mainstream media, institutional investors and retail investors, but this doesn't mean that the sector leaders are not occasionally challenged by competitor networks.

Two forked projects that once sought to challenge Bitcoin and Ethereum for their seats at the top are Bitcoin Cash (BCH) and Ethereum Classic (ETC). In the past week, both coins have demonstrated that they are still capable of generating excitement and producing big gains.

BCH/USDT vs. ETC/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets and TradingView shows that the price of BCH has climbed 125% over the past two weeks, ring from a low of $523 on April 4 to a high of $1,175 on April 16. During the same time period, ETC staged a 250% rally from $13.30 to a new all-time high at $46.53 on April 16.


Bitcoin Cash arose out of contention in the Bitcoin community centered around the scalability of the Bitcoin blockchain and the desire to increase the block size.

As a result of the disagreement, part of the community split off and “forked” Bitcoin to create Bitcoin Cash in order to implement the desired code updates.

The protocol now aims to be a peer-to-peer electronic cash system capable of being used to conduct fast payments around the world with low fees, user privacy and a high transaction capacity.

Momentum for Bitcoin Cash began pickup up at the beginning of April as the cryptocurrency market as a whole received increased attention from the mainstream media and financial markets. One theory suggests that new investors look for older coins with lower valuations as a starting point instead of chasing after Ether and Bitcoin, which may appear expensive to new crypto traders.

BCH/USDT 4-hour chart. Source: TradingView

With Bitcoin now back above $61,000 and its hash rate hitting a record high of 200 exahashes per second, the top cryptocurrency is out of reach for many smaller investors and miners who may be turning to BCH as a more feasible option.


Ethererum Classic emerged in 2016 as the result of a hard fork within the Ethereum community following the hack of a popular platform called The DAO. Initially, The DAO was an early decentralized autonomous organization intended to act as an investor-directed venture capital firm.

Ethereum Classic is actually the original legacy chain of the Etherum network that didn’t take corrective measures to recover funds lost in the hack, an act take as a way of maintaining the ethos of finality.

ETC/USDT 4-hour chart. Source: TradingView

While Ethereum has gone on to become the widely adopted version of the network, Ethereum has continued on its own path and is once again gaining attention from the crypto community as high transaction costs and Ethereum's transition to a proof-of-stake consensus has lifted ETC to new highs as users look for compatible options.

The hash rate of the Ethereum Classic network has steadily been climbing over the past six months alongside the rising price of ETC, helping to make the network more attractive to interested miners and increasing the overall security.

With a higher price comes greater block rewards, which then creates a larger incentive for miners join network. This both increases network security and keeps honest miners happy to do so.

— ETC Cooperative (@ETCCooperative) April 16, 2021

As more participants enter the crypto market in search of good deals on established projects, legacy coins like BCH and ETC could possibly see further price growth. 

Every investment and trading move involves risk, and you should conduct your own research when making a decision.

Title: What the forks? Bitcoin Cash and Ethereum Classic see triple-digit rallies
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Published Date: Fri, 16 Apr 2021 21:00:00 +0100

Confused about which Polkadot (DOT) project to invest in? This ‘PINT’ aims to solves that

Blockchain research and development firm ChainSafe said it would soon launch PINT, short for a Polkadot Index Network Token, in conjunction with PoS infrastructure provider Stateless Money, it said in a release yesterday.

“ChainSafe is excited to get the project underway together with Stateless Money, and help develop a new DeFi standard for the Polkadot ecosystem,” the firm said.

Piggybacking off of @MoneyStateless' announcement last week, we are STOKED to be helping @stakerdao & build a new @Polkadot #DeFi standard called the Polkadot Index Network Token ($PINT)!

: Read the full announcement here:

— ChainSafe Systems (@ChainSafeth) April 13, 2021

Index funds allow investors to hold a variety of tradable assets (usually related and of the same sector) via a single financial instrument. These are a widely popular product among investors and have, so far, been largely absent from the crypto space. But PINT looks to change that.

Grab a Pint with Polkadot

PINT will be an on-chain decentralized finance (DeFi) index token that provides diversified exposure to the top projects within the Polkadot (DOT) ecosystem. 

It was proposed in a StakerDAO governance proposal and was formally submitted by staking provider Stateless Money last month for ChainSafe to become the primary development partner.

The StakerDAO community approved the proposal earlier this money, majorly due to the many benefits it helps bring to the wider Polkadot ecosystem.

Parachains—independent blockchains that run on Polkadot—may also choose to allocate a portion of their tokens to PINT, giving them benefits like hedging a project’s token volatility while betting on the overall boom of the Polkadot ecosystem and gaining access to financing from the PINT treasury for expensive Parachain Lease Offerings (PLO).

As such, PINT will be split into four organizing partners:

Stateless Money will be responsible for overall coordination efforts around PINTChainSafe will be the primary development partner for PINTA PINT council made up of 7 Polkadot ecosystem experts will be governing the index including responsibilities such as referenda, the composition of the index, and selecting members of the Constituent CommitteeA Constituent Committee, made up of one representative from each project with assets in the index, will be responsible for evaluating — and possibly vetoing — council decisions

Traction and development

Six projects have given soft commitments to being included on the index and becoming representatives in the Constituent Committee, including—Acala, Equilibrium, HydraDX, Litentry, Moonbeam, and Plasm.

ChainSafe, on its part, will be responsible for the development of the PINT Substrate pallets and runtime. 

The work will be separated out into four successive milestones to be completed over 3 months, starting with the development of the PINT pallets based on ChainSafe’s PINT Design Doc, implementation of additional XCMP dependent pallets, joining ChaChaCha and/or Rococo testnets, and finally, launch the mainnet.

The announcement comes as Polkadot sees increased adoption, market presence, and surging prices. DOT trades at $42 at press time, an increase of 6.2% in the past week.

The post Confused about which Polkadot (DOT) project to invest in? This ‘PINT’ aims to solves that appeared first on CryptoSlate.

Title: Confused about which Polkadot (DOT) project to invest in? This ‘PINT’ aims to solves that
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Published Date: Thu, 15 Apr 2021 20:41:13 +0000

Friday, April 16, 2021

Select 6: Chances Alex Johnson fuses the Broncos, Drew Padlock will certainly be NFL MVP, Denver winds Trey Lance

Interesting post by Joe Nguyen from The Denver Post discussing some important points for the week. Joe Nguyen recently posted this and I decided it was a great post for sharing on this website.

Will the Broncos go with a quarterback for their first selection in this year’s NFL draft? One oddsmaker thinks it’s a good bet.

Sportsbook BetMGM has Denver at -130 — meaning a $130 bet would win $100 — to choose a quarterback with their first pick in the draft. And it could well be North Dakota State quarterback Trey Lance, who has Denver as the most-likely landing spot at +300.

It could also be Ohio State quarterback Justin Fields, who has +600 odds to be drafted by the Broncos. Denver has the third-best odds, behind the 49ers (+190) and Falcons (+400).

Here’s a look at some of the current odds in the world of sports.


The odds Broncos quarterback Drew Lock will win the 2021 NFL MVP award, according to BetMGM. Lock has the 40th-best odds on the list. Chiefs quarterback Patrick Mahomes (+600) is the favorite, followed by Packers quarterback Aaron Rodgers (+800) and Bills quarterback Josh Allen (+1,200).


The odds Panthers quarterback Teddy Bridgewater’s next team is the Broncos if he’s traded by Week 1, according to Denver is the favorite, followed by New England (+300) and Tampa Bay (+500).

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The odds free agent quarterback Alex Smith’s next team by Week 1 of the 2021 season is the Broncos, according to The Jets (+200) are the favorites, followed by the Jaguars (+250) and the Colts (+350).


The odds Jake Paul will beat Ben Askrin in their boxing match Saturday, according to


The odds the Broncos’ first drafted player will be a quarterback, according to BetMGM. This is followed by offensive lineman (+500), cornerback (+550) and linebacker (+550).


The odds the Broncos will draft North Dakota State quarterback Trey Lance, according to BetMGM. Denver has the best odds, followed by the 49ers (+450), the Falcons (+550) and the Patriots (+550).

Jennifer Lopez And Also Alex Rodriguez Have Actually Formally Aborted Their Involvement And Also Damaged Up

Getty Image

Back in March, there were reports that Jennifer Lopez and Alex Rodriguez had called off their engagement. At the time, Lopez and Rodriguez denied the rumors, telling CNN that they were “working through some things.” Lopez also responded to the rumors herself with some help from Saweetie’s “Pretty B*tch Freestyle.” Now, though, it’s official, as the pair has confirmed that they no longer plan to get married and have broken up.

In an exclusive joint statement to TODAY, Jennifer Lopez and Alex Rodriguez reveal they have called off their engagement and are going their separate ways. @SheinelleJones reports.

— TODAY (@TODAYshow) April 15, 2021

They shared a statement with Today, which was revealed this morning. In it, the now-former couple said, “We have realized we are better as friends and look forward to remaining so. We will continue to work together and support each other on our shared businesses and projects. We wish the best for each other and one another’s children. Out of respect for them, the only other comment we have to say is thank you to everyone who has sent kind words and support.”

Prior to today’s official reveal, rumors about Lopez and Rodriguez’s split once again surfaced this week, when some people noticed that in a series of photos Lopez posted on Instagram (taken on the set of her movie Shotgun Wedding), she was not wearing her engagement ring.

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