🤖Alexis Ohanian Seeks $177.6M for Crypto - TWJ #219
Serena Williams' husband wants to directly invest in liquid tokens.
In today’s issue:
The crypto market is down with its total market cap above ~$900 billion. Lido (LDO) has been the best performer in the top 100 in the past 24-h. The Fed’s quantitative tightening will ramp up this week
In other news, Limit Break raises $200M for web3 games, 776 Venture seeks $177.6M, and FedNow Sets for Mid-2023 Debut.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆776 Ventures Seeks $177.6M
Seven Seven Six, the VC firm founded by Reddit’s Co-Founder Alexis Ohanian plans to raise $177.6M to invest directly in crypto tokens. Named Kryptós, the fund will target liquid tokens at a discount due to the market downturn.
Seven Seven Six has registered as an investment adviser with the US Securities and Exchange Commission to invest in tokens.
⎆Limit Break Raises $200M for WEB3 Games
A web 3.0 MMO gaming studio has raised $200M from prominent crypto investors. Participants include Paradigm, Coinbase, and FTX.
The startup was founded by Gabriel Leydon and Halbert Nakagawa, former CEO and CTO, respectively, of the mobile gaming firm Machine Zone, which built mobile free-to-play games including Game of War, Mobile Strike and Final Fantasy: XV.
⎆FedNow Sets for Mid-2023 Debut
The US Fed has announced that it plans to launch FedNow, an instant payments platform, between May and July 2023. FedNow will be open to financial institutions, enabling instant payments for consumers and businesses. It’s currently in the pilot phase with 120+ organizations participating.
👨🏻💻Decentralized Finance (DeFi)
CME Adds Euro-Denominated Ethereum Futures as Merge Approaches
Avalanche’s Founder Dismisses Smear Campaign Allegation
Moonbeam Integrates Cross-Chain Messaging Protocol LayerZero
PlutusDAO plvGLP is live
FBI Issues Alert over Cybercriminal Exploits Targeting DeFi
🏛Governance - Active Proposals
Gitcoin - Moonshot Collective S15 Budget Proposal
Tribe NopeDAO - Veto for TIP-122: End Rari team vesting and consolidate Tribal Council assets
🦮NFT & Metaverse
WigoSwap is Live
Meta Announces Facebook and Instagram NFTs
Formula One Trademark Filing Paves the Way for F1 NFTs
Solana DeGods NFT Project Soars Ahead of Buzzy y00ts Launch
Eminem, Snoop Dogg Bored Apes at VMAs Get Jeers From NFT Critics
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Limit Break - $200M Unknown Round
GammaX - $4M Seed Round
Lemniscap - $7M Seed Round
Stanford University Blockchain Hub - $4.5M Investment from IOG
Lightnet Group - $50M Investment from LDA Capital
Xterio - $40M SAFT Sale
⚖️Regulatory Update
Argentine Province Allows Millions to Pay Taxes Using Stablecoins
Itaú, Brazil’s Largest Private Bank, to Develop a DeFi Liquidity Pool
Court Rejects Central African Republic’s Plan to Offer Citizenship for Crypto Investment
📚Noteworthy Reads
Li’s Read on Fans are the New Creators
Ming Zhao’s Thread on A Breakdown of the Hedge Fund Industry
Tree of Alpha’s Thread on Tree origin story.
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.