💸Alameda Research Owes Voyager $377M - TWJ #181
Alameda is the 2nd largest borrower after 3AC.
In today’s issue:
The crypto market is up with its total market cap at ~$900 billion. Convex Finance (CVX) is the best performer in the top 100 in the past 7-d. Market participants think that a 50-75 bps hike at the July FOMC is likely.
In other news, Alameda Research owes Voyager $377M, Genesis confirms exposure to 3AC, and Bitstamp cancels the plan for an inactivity fee.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Alameda Research Owes Voyager $377M
The crypto trading firm founded by SBF is Voyager Digital's second-largest borrower after Three Arrows Capital, according to a Chapter 11 bankruptcy filing. Alameda Research owes Voyager $377 million at an interest rate of 1% to 5%, including $75 million in unsecured loans.
⎆Genesis Confirms Exposure to 3AC
While in June, Genesis shared there was a large counterparty that failed to meet a margin call, Michael Moro, the CEO of Genesis, confirmed the counterparty was Three Arrows Capital. They confirmed if they had already mitigated the losses and partnered with Digital Currency Group to find the best strategy for the following potential losses.
⎆Bitstamp Inactivity Fee Canceled
Last week, Bitstamp introduced a monthly inactivity fee of 10 euros for every inactive account with a balance of fewer than 200 euros. But, due to negative community responses, they ended up canceling the plan.
👨🏻💻Decentralized Finance (DeFi)
Ribbon Finance Temporarily Pausing AVAX Put Selling Vault
Yearn Launches NFT Treasury Management Tool
Flow Permissionless Smart Contract Deployment is Live
Immutable Enables ETH Offramp
Dialect x SMS Partnership
Solace and Portfolio Insurance Live on Aurora
Ethereum Merge Moves One Step Closer Following Sepolia Trial Run
Polygon Joins Solana in Bringing Web3 to Smartphones
🏛Governance - Active Proposals
Compound - Return Accidentally Sent Funds #3
ENS - Funding True Names Ltd
Fei - TIP_118: PSM deprecation, Incentives withdrawal, agEUR redemption
🦮NFT & Metaverse
NFT Platform Wars could be Ahead, Says new DappRadar Report
RTFKT Grants CloneX Holders Commercial Rights to NFTs
Meta Affirms Digital Collectibles Plan Despite Crypto Crash: Report
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Dimension X - $3M Unknown Round
Enjinstarter - $5M Unknown Round
Oasys - $20M Unknown Round
Klang Games - $41M Unknown Round
Bitmark - $5.6M Seed Round
Cauldron - $6.6M Seed Round
Planetarium Labs - $32M Series A
⚖️Regulatory Update
Solana Labs, Multicoin Accused of Violating Securities Law by SOL Investor
UK to Introduce Legislation on Stablecoins by August
Belgium Regulator Ponders Crypto as a Security
American CryptoFed DAO Withdraws Locke, Ducat Token Registration Request
📚Noteworthy Reads
DeFi Surfer’s Read on Why The 1% Don't Get It
Bo Lau’s Read on Web3 & Decentralization Explained
Sébastien Derivaux’s Read on The Crypto Banking System
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
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All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.