💸$4 Trillion Fidelity BTC 401(k) - TWJ #134
Remember crypto market cap is 1/5 of big tech combined.
In today’s issue:
The crypto market is up with the total market cap sitting at $1.8-1.9 trillion. Near Protocol (NEAR) is the worst performer in the top 100 in the past 7-d. Stocks rebounded and Tesla shares fell as Elon acquired Twitter.
In other news, Fidelity will offer BTC in its 401k, Fireblocks supports Terra, and Joe McCann launched a $1B fund.
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
⎆Fidelity Will Offer BTC in Its 401(k)
One of the world’s largest financial services firms with more than $4 trillion in AUM has just enabled its users to invest in BTC via their 401(k). This enables company-sponsored retirement plans in the U.S. to provide employees direct access to Bitcoin without creating a separate account as well as getting a tax break on the capital they contribute.
⎆Fireblocks Supports Terra
Institutional crypto service providers Firebocks has just added support for the Terra blockchain as demands for altcoins increase. This is a sign that investors are aware that the alpha is in other “blue-chip” crypto projects, despite the risk-off macro environment. Fireblocks CEO Michael Shaulov stated that Terra supports comes in response to the record-breaking demand from customers.
⎆Joe McCann Launched a $1B Fund
Notable investor Joe McCann, who previously was at Passport Capital & Microsoft is in the process of raising a new $1 billion crypto fund. Joe will join the ranks of billion-dollar funds that have been raised in the past few months. That said, Joe’s investors base seems to be coming from a similar group of Solana benefactors such as FTX, CMS, Multicoiin, and others.
👨🏻💻Decentralized Finance (DeFi)
Optimism Introduces Optimism Collective
Fireblocks now Supports Terra
OlympusDAO Inverse Bond by is Live
RAW Airdrop for Juno Stakers
Retrograde Launch remix
dYdX is not Blocking Users with Russian IP
Revoke.cash New Updates
Celer Inter-chain Messaging Framework Launches
Teller Uncollateralized DeFi Mortgage Taken
🏛Governance - Active Proposals
Compound - OpenZeppelin Security Partnership - 2022 Q2 Adjustment V4
Compound - Risk Parameter Updates for MKR and AAVE
ENS - Execute EP11
Fei - FIP-98: Purchase 10m VOLT
Uniswap - Deploy Uniswap v3 on Celo
🦮NFT & Metaverse
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Ipor - $5.55M Unknown Round
Metakey - $3.5M Seed Round
Flowty - $4.5M Seed Round
Tonic - $5M Seed Round
Mad Realities - $6M Seed Round
CXIP Labs - $6.5M Seed Round
Ola GG - $8M Seed Round
Vertex Protocol - $8.5M Seed Round
Stablecorp - $1.5M Pre-Series A
0x Labs - $70M Series B
Blockmetrix - $20M Debt Capital
CleanSpark - $35M Debt Capital
⚖️Regulatory Update
Brazilian Senate Plenary Approves Bill Regulating Crypto Transactions
New York Passes Bill Blocking Crypto Mines That Use Non-Renewable Power
Central Bank of Cuba to License Digital Asset Service Providers
FalconX Tests Waters as First Full-Fledged Crypto Derivatives Dealer
Buenos Aires City to Allow Residents to Make Tax Payments With Crypto
Chinese Court Rules Marketplace Guilty of Minting NFTs from Stolen Artwork
Gibraltar Rolls Out New Virtual Asset Regulation to Combat Market Abuse
Hong Kong Monetary Authority Invites Views on Retail CBDC
Europe's Lawmakers Set to Advance Discussion of Crypto AML Rules
📚Noteworthy Reads
Justin Barlow’s Thread on To Launch on High FDV or Not
Juiced’s Read on Funding rates: A beginners guide
Hussufo’s Read on Inflation-Resistant Stablecoins: CPI coins, FPI & Volt
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.