🌉$150B Bridgewater to Invest in Crypto Funds - TWJ #109
The $150 billion hedge fund is taking crypto more seriously.
In today’s issue:
The crypto market is up with the total market cap sitting close to $2 trillion. ETC is one of the best performers in the past 7-d. The Fed said that it is prepared to raise interest rates by 50 bps in May if necessary.
In other news, Dalio’s Bridgewater prepares to invest in crypto funds, BIS develops digital currencies platform prototype, and the UK ramps up ‘red alert’ over crypto ads.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Bridgewater Prepares to Invest in Crypto Funds
The world’s largest hedge fund is expanding its involvement with crypto assets by preparing to back its first crypto fund. CoinDesk reported that Bridgewater has no intention or plan of directly investing in crypto, but would continue to study it as an asset class. It has previously issued a report on institutional crypto trends.
⎆BIS Develops Digital Currencies Platform Prototype
The Bank of International Settlements (BIS) and some central banks have worked together and developed prototypes for a digital currencies platform that will eventually increase the efficiency of cross-border payments.
The two prototypes demonstrate the technical viability of such a platform, the BIS said in a statement Tuesday with the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore, and the South African Reserve Bank.
⎆The UK Ramps up ‘Red Alert’ Over Crypto Ads
The UK’s advertising regulator sent enforcement notices to more than 50 companies that have in some way promoted crypto assets. This move aligns with the recent crackdown towards crypto advertising that has been down by the UK. The agency stated that the clampdown is focusing on “misleading and irresponsible crypto ads”.
👨🏻💻Decentralized Finance (DeFi)
DeFi Olympiads Registration is Open
Stargate TVL Reached $1B
Invictus Redemption is Live
Sushi Legal Structure Proposal
sunSBR is Live
LiFi Exploited for $600k
Mudit Gupta Joins Polygon
🏛Governance - Active Proposals
Compound - COMP Rewards Adjustments - Kickstart Rewards: Step One
Compound - Contribute funding to the Nomic Foundation
ENS - Execute EP7
ENS - Execute EP8, EP9, and EP10
Uniswap - Should Uniswap governance contribute funding to the Nomic Foundation?
🦮NFT & Metaverse
Abu Dhabi Free Zone Seeks Comments on NFT Rules
Someone Borrowed 5 Bored Apes to Claim $1.1 Million of APE Tokens
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Dave - $100M Unknown Round
Pikaster - Undisclosed Amount
KlayCity - $3.75M Seed Round
The TIE - $9M Series A
Altonomy - Undisclosed $ of Acquisition by Crypto.com
⚖️Regulatory Update
UK Advertising Regulator Issues 'Red Alert' Guidance on Crypto Ads
SEC Delays Spot Bitcoin ETF Offerings From WisdomTree and One River
Gemini Wins Irish Electronic Money License
Congress Group Calls SEC Crypto Enforcement Into Question
Indian Crypto Industry Mulls Supreme Court Move
📚Noteworthy Reads
Tom Shaughnessy’s Thread on Tips to Founders Raising Capital
Kevin Roose’s Read on The Latecomer’s Guide to Crypto
0xHamz’s Thread on LDO Analysis
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.