📈a16z $4.5 Billion Crypto Fund IV - TWJ #151
Are we still bearish anon?
In today’s issue:
The crypto market is flat with the total market cap at ~$1.2-1.3 trillion. GST on BSC is the best performer in the top 100 in the past 7-d. Economists downgraded their forecast for China’s economic growth.
In other news, a16z launches a $4.5 billion crypto fund, Coinbase enters the fortune 500, and Vitalik elaborates on soulbound tokens.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆a16z Launches a $4.5 Billion Crypto Fund
Silicon Valley giant a16z has officially launched its IV crypto fund with $4.5 billion in AUM. The new fund will be the largest crypto-focused fund ever raised, towering over Paradigm’s $2.5 billion raise in November.
Frankly, I don’t know where they’re going to deploy in the current economy. Going to pre-seed, seed, or Series A might not even make any sense for a16z. They need to allocate to mid, growth, and late-stage and help them through the macroeconomic downturn.
⎆Coinbase Enters the Fortune 500
Coinbase has entered the Fortune 500 list, making it one of the biggest companies by revenue, and becoming the first-ever crypto firm to join the list. COIN reported $7.8 billion+ revenue in the fiscal year 2021.
⎆Vitalik Elaborates on Soulbound Tokens
Ethereum founder and creator have proposed a new token standard named Soulbound Tokens (SBTs), which are non-transferable NFTs helped by unique crypto wallets called Souls. In the research paper, multiple use-cases of SBTs were elaborated on.
👨🏻💻Decentralized Finance (DeFi)
Hackerdao Exploit
Inverse Finance Update
SudoAMM Update
Brave Integrates with Solana
Metamask Integrates with Coinbase Pay
PaintSwap DEX Migrates to SpookySwap
Aurora Partnership with Infura
Across v2 is now Live
veMULTI Expands to Fantom
Uniswap Protocol Cumulative Volume has Passed $1 Trillion
Immutable X Unveils Cross-Rollup Liquidity Solution
New AVAX Faucet
Friktion’sNewest Product: Basis Yield
🏛Governance - Active Proposals
Compound - Risk Parameter Updates for 5 Collateral Assets
Gitcoin - S14 Funding
Indexed - Refund DAI for Lawyer Costs Through Loan
🦮NFT & Metaverse
Can Seth Green Still Make His NFT Show if His Bored Ape Was Stolen?
Boss Cat Rocket Club Builds First All-Inclusive Metaverse on Cardano
Yield Guild Games Scholarships on the Rise Through Q1
Miladys NFT Prices Tumble After Creator Doxxes Self
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Doppel - $5M Seed Round
MetaKings - $15M Seed Round
Common - $20M Unknown Round
ADDX - $58M Pre-Series B
a16z - $4.5B Crypto Fund IV
⚖️Regulatory Update
OCC Chief Hsu: Crypto Industry Has Unhealthy ‘Dependency on Hype’
FTX's Bankman-Fried Is Already a Political Mega-Donor. He's Doubling Down
US Senators Lummis and Gillibrand Set to Propose Crypto Oversight Bill
South Korean Authorities Look to Closely Scrutinize Exchanges Post Terra
ECB: 10% of Households in Eurozone Population Centers Own Crypto
📚Noteworthy Reads
Secret Salsa’s Read on How to survive a bear market?
The DeFi Edge’s Thread on 20 Tips to Survive the Crypto Bear Market:
ChainLinkGod.eth’s Thread on Stablecoins
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.