🏛️Binance Global Advisory Board - TWJ #236
The world's largest exchange continues its regulatory efforts.
Hi folks,
A few days ago, Fred Wilson of USV wrote a brilliant piece on the importance of public perception about controversial technologies. In his piece, he made a point that many promising technologies have suffered a lack of growth due to negative public opinion. Nuclear, vaccines, and web 3.0 are examples of how negative branding could lead to underinvestment and unsophisticated regulations. I’ve been commenting on crypto branding issues for a while and finally decided to dedicate an issue to this topic since I’m not seeing any significant improvements or initiatives from industry leaders. Crypto needs a better brand strategy.
In today’s issue:
The crypto market is flat with its total market cap above ~$900 billion. Ravencoin (RVN) has been the worst performer in the top 100 in the past 7-d.
In other news, Binance taps ex-Obama Advisor for Global Advisory Board, Coinbase rejects proprietary trading allegations, and DBS builds out crypto trading services for wealth clients.
We’re continually improving our content, please reach out if you have ideas or want us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Binance Taps Ex-Obama Advisor for Global Advisory Board
The world’s largest exchange announced the formation of its new Global Advisory Board, which will advise the business on the regulatory, political, and social landscape faced by the industry.
Chaired by former U.S. Senator and Ambassador to China, Max Baucus, the Board comprises experts in public policy, government, finance, economics, and corporate governance, including former campaign manager and senior advisor to president Obama David Plouffe, Britain’s former Minister of State for Culture and the Digital Economy Lord Vaizey, and former head of the French Treasury Bruno Bezard.
⎆Coinbase Rejects Proprietary Trading Allegations
WSJ released a report that alleged Coinbase had hired traders to use the company’s internal capital to make trades with the goal of making a profit. Coinbase denied this allegation.
⎆DBS Builds Out Crypto Trading Services for Wealth Clients
One of Singapore’s largest banks has introduced a crypto trading product for its wealthy clients.
This will allow them to trade crypto at their convenience, it said in a news release, adding that it will also provide "hassle-free access to DDEx, one of the world’s first bank-backed digital exchanges."
Previously, crypto trading on DDEx was limited to corporate and institutional investors, family offices and clients of DBS Private Bank and DBS Treasures Private Clients.
👨🏻💻Decentralized Finance (DeFi)
Wormhole Launches on Aptos Devnet
Aurora Mitigates Two Vulnerabilities
Boba Launches the First L2 on Avalanche
Goldfinch Community Launches Lark Market
Uniswap Foundation Grants: Wave 1
Zilliqa to Launch Web3 Games Console In Early 2023
Tornado Cash Is Back on GitHub
Cardano Blockchain Moves Forward With Vasil Upgrade
🏛Governance - Active Proposals
🦮NFT & Metaverse
UNICEF Giga NFTs to Connect Schools in Developing Countries to Internet
OpenSea Implements a New Protocol that Ranks NFT Rarity
Chain Inks Four-Year Deal With New England Patriots
TravelX Launches With Tickets From Low-Cost Argentinian Airline Flybondi
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Nilos - $5.2M Unknown Round
Headquarters - $5M Pre-seed Round
Sintra - $2M Seed Round
0xScope - $3M Seed Round
Block.Green - $3.7M Seed Round
Binocs - $4M Seed Round
Skip Protocol - $6.5M Seed Round
Random Games - $7.6M Seed Round
Hyperlane - $18.5M Seed Round
Vulcan Forged - $8M Series A
Lit Protocol - $13M Series A
Immunefi - $24M Series A
Messari - $35M Series B
C Ventures - $200M Crypto Fund
⚖️Regulatory Update
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers
CFTC Penalizes Blockchain Protocol $250K, Files Action Against DAO
CFTC’s Crypto Watchdog Role Gets a Boost in US Congress
Utah Man Charged With 7 Felonies in Connection to Alleged $1.7M Crypto Mining Scam
Washington State Joins Celsius Bankruptcy Case as Interested Party
UK Introduces Law to Seize, Freeze and Recover Crypto
📚Noteworthy Reads
Mhonkasalo’s Read on How high do we want gas fees to be on Ethereum?
Rene Pickhardt’s Read on The power of valves on the Lightning Network
Yuga.eth’s Thread on 7 reasons to be bullish on Coinbase
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.