👨💻Andre Cronje Plans to Leave DeFi - TWJ #98
Thank you for all of your contributions, Andre.
In today’s issue:
The crypto market is down over the weekend with the global market cap sitting at ~$1.6-1.7 trillion. Andre Cronje-related tokens experienced double-digit drawdowns as the prolific developer announced his intention to quit DeFi. Stocks drop and commodity surges as Putin reiterated that the war will continue until Ukraine accepts his demands, reducing hopes for a negotiated peace.
In other news, FTX sets up its European unit, Circle delays its DeFi API product, and Andre Cronje plans to leave crypto.
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
⎆Crypto Exchange FTX Sets Up European Unit
Crypto giant FTX has announced the establishment of its European licensed entity in Cyprus. The firm won approval from the Cyprus regulatory body, CySEC, in an announcement published on Monday. As a result, FTX EU can now offer its products and services across the European Economic Area. The new FTX EU division is headquartered in Switzerland.
⎆Circle Delays Its DeFi API Product
The crypto payments infrastructure has announced that it will delay the launch of its DeFi API product, stating the need for further regulatory guidance as to the primary reason.
The DeFi API product, which would've initially helped businesses access Compound on the Ethereum network, has now been delayed and resources instead dedicated to launching the Circle Yield product and making the USDC stablecoin available on new blockchains, Circle said in a statement to The Block today.
⎆Andre Cronje Plans to Leave Crypto
Legendary blockchain developer Andre Cronje has announced, via his colleague Anton Nell, their intention to quit DeFi. Albeit not giving specific reasons for their saddening decisions, the announcement caused Andre-related projects such as FTM and YFI to experience a double-digit drawdown.
👨🏻💻Decentralized Finance (DeFi)
Bastion’s Public LBP on Balancer
KyberSwap Dex Launches on Layer-2 Network Arbitrum
Andre and Anton Leaving DeFi
Curve Adds Non-Ethereum Chain Gauges
Convex Finance Bug Causes CVX Token to Sink on Forced Token Unlock
Algorand Upgrade Set to Allow for Easy Creation of Complex Dapps
Circle Delays its DeFi API Product, Citing Need for Regulatory Guidance
Ethereum Miners Generated $1.19 Billion in Revenues During February
🏛Governance - Active Proposals
Code4rena - C4IP-8: Migration to New Governor Contract
Dope Wars - Feb-26 Payments & Governance Updates
Gitcoin - MMM S13 - Funding request
Gitcoin - # 🚀 Moonshot Collective (MSC) S13 - Funding request
Silo - SIP-4: Reimbursing the development fund for buying CVX
Uniswap - Should Uniswap Provide Voltz with v3 Additional Use Grant?
🦮NFT & Metaverse
Axie Infinity Hikes Marketplace Fees
Valve’s Gabe Newell Doesn’t Like the ‘Super Sketchy’ Use of Blockchain Tech in Gaming
Dolphin Entertainment to Produce TV Shows, Games, Music With Flower Girls Ethereum NFTs
Here Are All of the Major NFT Projects Being Turned Into Movies
'Bitcoin Centrist' Muneeb Ali: Why NFTs Are Triggering to Normies
Mickey Mantle Baseball Card NFT Sells for $471K in OpenSea Auction
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Diagonal - $2.5M Pre-Seed Round
Rarify - $10M Series A
Kava - $750M Developer Incentive Program
StakeWise - Undisclosed $ of Investment by Blockdaemon
⚖️Regulatory Update
Coinbase Proposes Crypto Tech to Promote Global Sanctions Compliance
Healthcare Giant CVS Files for NFTs and Virtual Goods Trademark
FTX Expands to Europe With Cysec Approval
Crypto Exchange Executives Respond to Sanction 'Misinformation'
Philippines Central Bank to Launch CBDC Research Effort
📚Noteworthy Reads
Nat Eliason’s Read on Tokenomics 102: DiggingDeeper on Supply
Brett Harrison’s Thread on How Crypto Exchanges Enforce US Sanctions
Cdixon’s Thread on Some Reasons to Build Your Startup in Web3
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.