👴🏻Biden's Crypto Executive Order - TWJ #99
Will the US continue to stifle crypto innovations?
In today’s issue:
The crypto market is flat with the total market cap sitting at ~$1.6-1.7 trillion. Fantom (FTM) experienced the most significant downturn amongst the top 100 assets by market cap in the past 7-d. Global markets mixed as US lawmakers announced the outline of bipartisan legislation to ban imports of Russian oil.
In other news, Biden to sign an executive order on crypto, Bain Capital Ventures raised a $560M crypto fund, and Binance sets up a fiat-to-crypto payments provider.
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
⎆Biden to Sign an Executive Order on Crypto
President Biden is going to sign an executive order that’s going to address the US government’s strategy relating to cryptocurrencies.
The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets, said the people, who asked not to be named discussing the deliberations. The White House’s approach to crypto has attracted fresh attention in recent weeks after the U.S. and its allies levied sanctions on Russia, prompting concerns that organizations and individuals could use crypto to evade the restrictions.
⎆Bain Capital Ventures Raised a $560M Crypto Fund
Investing giant Bain Capital Ventures (BCV) has announced its $560M crypto-focused fund. The fund was reportedly closed in November and has already deployed $100M of its capital. Managing Partner Stefan Cohen stated that the fund has a 10-year outlook. This move by BCV came alongside the launch of other large crypto-focused funds by legacy investing giants such as Sequoia.
⎆Binance Sets up a Fiat-To-Crypto Payments Provider
The largest crypto exchange in the world has finally set up its own fiat-to-crypto payments provider, named Bfinity, as part of its expansion in helping businesses to become crypto-ready. Bfinity supports 50 crypto assets and major payment methods including Visa and Mastercard. At the same time, Bfinity has also partnered with EQOS, the first crypto custody firm that has won regulatory approval from the UK’s FCA.
👨🏻💻Decentralized Finance (DeFi)
Bastion is Live on Aurora Mainnet
Ribbon Finance Liquidity Mining is Live
Alchemy Partnership with StarkWare
Evmos Chain Paused After Going Live With Highly-Anticipated ‘RektDrop’
Hxro Releases Whitepaper
Loda Launches Loda Cicero
DexGuru DAO Bootstrap Phase
Global Council Adds DeFi Banking Firm Scallop to Help Secure Payment Data
DraftKings Becomes Polygon Validator
Argent Launches Layer 2 Account with Waitlist Over 500,000
🏛Governance - Active Proposals
Code4rena - C4IP-8: Migration to New Governor Contract
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
Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone
Adobe's Behance Adds Support for Solana NFTs
Gem.xyz Integration with LooksRare
Papa John's Plans NFT Drop Despite Prior Warning From UK Regulator
The Sandbox, World of Women Form $25M NFT Alliance for WoW Foundation
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Akord - $2.3M Seed Round
Space Runners - $10M Seed Round
Espresso - $32M Seed Round
Immutable - $200M Series C
Bain Capital Ventures - $560M Crypto Fund
Griffin Gaming Partners - $750M Web3 Fund
⚖️Regulatory Update
Biden Planning to Sign Executive Order on Crypto This Week
EU Parliament Monetary Committee to Vote on MiCA Next Week
Ukraine Is Buying Bulletproof Vests and Night-Vision Goggles Using Crypto
Binance Sets Up Fiat-to-Crypto Payments Provider, Lends to FCA-Regulated Custodian
Coinbase Touts Blacklist of 25K Russia-Linked Addresses
Binance Fully Resumes Euro and Pound Bank Transfers
US AML Watchdog Issues Alert on Potential Russia Crypto Sanctions Evasion
📚Noteworthy Reads
Adams Cohran’s Thread on Andre Leaving FTM
YeahYeah’s Thread on Grayscale’s Highlights and Key Exhibits
Akimbo’s Read on Are Mergers & Acquisitions a thing in crypto?
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.