All Eyes on ProShares BTC Futures ETF - The WAGMI Journal #1
The first US-based Bitcoin Futures ETF is set to trade
Welcome to the inaugural issue of The WAGMI Journal, a newsletter that was inspired by my own needs to keep up with the lightning pace speed of the digital asset industry!
The purpose of this newsletter is to provide a 5-minute curated recap on all things crypto and digital asset that happened in the past 24 hours; from market updates, DeFi/NFT, deal flow, and many more.
So you can know what matters first thing in the morning.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆US-Based Bitcoin Futures Set to Trade
ProShares Bitcoin Strategy ETF is set to trade on 19-October-2021 absent any objection from regulators. The price of Bitcoin rallied to above $62,000 as the market anticipates that easier access to BTC as an investment product is a net good for the digital asset long-term. There are many more upcoming pending approvals for Bitcoin ETF for both spot and futures-based products.
⎆Citi’s Matt Zhang to Leave for the Crypto Industry
Citi Bank Global Co-Head of Structured Products Trading, Matt Zhang, is leaving the bank to enter the crypto space. It is said that Zhang plans to raise a ~$1 billion fund that actively trades digital assets and makes venture investments in the crypto industry. This marks another notable individual that decided to leave web 2.0 and/or traditional finance to enter the digital asset/web 3.0 industry.
⎆Tribe Capital $75M Crypto Focused Fund
Tribe Capital, one of Silicon Valley’s most prominent VC firms raised $75M for a crypto-focused fund, marking another entrance of a notable “traditional” VC firm to the crypto space. Previously, Tribe has made investments in many prominent crypto firms such as Kraken, FTX, and Digital Currency Group. CoinDesk reported that Tribe’s new crypto fund will also be doing yield farming; an activity that is further out the risk curve that we’ve seen increasing participation even amongst more traditional investment firms.
👨🏻💻Decentralized Finance (DeFi)
Former Obama Spokesperson Joins Uniswap Labs
Yearn Finance Goes Multichain With Fantom Blockchain Integration
Terra and Abracadabra Team Up to Challenge Centralized Stablecoins
🦮NFT & Metaverse
NBA Top Shot Sales Up 128% After New Drop Features Shaquille O'Neal
MekaVerse Ethereum NFT Rollout Dogged by Fraud Allegations
Axie Infinity Became the Most Traded NFT Collection Ever Last Quarter
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
FIAT DAO - $2M Seed Round
Laguna Games - $5M Seed Round
Tribe Capital - $75M Crypto Fund Launch
⚖️Regulatory Update
CFTC Fines Tether and Bitfinex $42.5M for ‘Untrue or Misleading’ Claims
Crypto Finally Makes the Cut in OCC’s 2022 Bank Supervision Operating Plan
Coinbase Proposes US Create New Regulator to Oversee Crypto
Bank of Japan Seeks ‘Plain, Easy-to-Cook’ CBDC Model
SEC Approves Bitcoin Futures ETF, Opening Crypto to Wider Investor Base
For the first week (and maybe a few after), this newsletter is intended for friends and family as we’re sharpening our value offering and content.
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
DISCLAIMER:
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, and any other forms of advice.