🤝BlockFi $250M Credit Facility From FTX - TWJ #170
The crypto lender is reportedly still in trouble.
In today’s issue:
The crypto market is flat with its total market cap sitting at ~$800 billion. Celsius Network (CEL) is the best performer in the top 100 in the past 7-d. European equity indexes rally while Goldman warns of an upcoming recession in the US.
In other news, BlockFi secures a $250M credit facility from FTX, ProShares launches a short BTC ETF, and the UK government walks back the non-custodial wallet rule.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆BlockFi Secures a $250M Credit Facility From FTX
Crypto lender BlockFi has acquired a $250M credit facility from FTX. The firm has been under scrutinies recently due to the Celsius Network and 3AC cases, which might have (absolutely does) a contagion effect amongst other crypto lenders.
⎆The UK Government Walks Back the Non-Custodial Wallet Rule
The UK government has reportedly walked back on its earlier plan to collect personal information and data on non-custodial crypto wallets. If passed, this initiative is going to cause a lot of trouble for UK-based crypto firms as the nature of the non-custodial crypto wallet is decentralized at its core; and there’s no good method for centralized crypto firms to keep track of all the information.
"Instead of requiring the collection of beneficiary and originator information for all unhosted wallet transfers, cryptoasset businesses will only be expected to collect this information for transactions identified as posing an elevated risk of illicit finance,” according to the amended release on Monday.
⎆ProShares Launches a Short BTC ETF
ProShares has launched the first US-based short Bitcoin ETF. The product will enable investors to hedge their BTC exposure and will start trading on the NYSE on Tuesday, June 21st, 2022. Just gonna leave this gold tweet here.
👨🏻💻Decentralized Finance (DeFi)
Binance Buys The Dip, Adds 101,266 Bitcoin
ParaSwap Launches The First NFT P2P Mobile Trading App on iOS
Drift Research Competition
USDD Stablecoin Still Hasn’t Recovered Its Dollar Peg
Celsius Warns Stabilizing Liquidity 'Will Take Time'
ZigZag DEX to Sell Governance Tokens with Airdrop Down the Line
Uniswap Tops Ethereum in Terms of Daily Fees
MakerDAO Token Holders Vote to Add Rocket Pool’s rETH as Collateral
Lido Proposes ‘Dual-Governance’ Scheme to Quell Centralization Fears
🏛Governance - Active Proposals
Indexed - Return assets drained from FFF, CC10, DEFI5 (Pt. 1)
Indexed - Return assets drained from FFF, CC10, DEFI5 (Pt. 2)
PoolTogether - PTIP-75: Grants Committee Funding (Season 3)
Uniswap - Should the Uniswap community participate in the Protocol Guild Pilot?
🦮NFT & Metaverse
PlayStation, Google Vets to Co-Create New Franchises Via Solana DAOs
CryptoPunk Sale Raises $100K in Ethereum to Support Ukraine War Effort
WeChat Bans Crypto and NFT-Related Accounts
Admix Reaches $300M Valuation Following Merger, Rebrand
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
MetaOne - $2M Unknown Round
Endaoment - $6.67M Unknown Round
Afropolitan - $2.1M Pre-Seed Round
Increment - $1.56M Seed Round
Neol - $5.2M Seed Round
Astaria - $8M Seed Round
Magic Eden - $130M Series B
Style3D - $100M Extended Series B
Platform.sh - $140M Series D
BlockFi - $250M Credit Facility from FTX
⚖️Regulatory Update
UK Government Backtracks on Unhosted Wallet Data Collection Proposal
Iran Cuts Electricity to Licensed Crypto Miners: Bloomberg
Huobi Crypto Exchange Wins Licenses in Dubai and New Zealand
📚Noteworthy Reads
Alexxander.eth’s Read on DeFI 80/20
Otteroooo’s Thread on BlockFi Leaked Document
The Crypto Illuminati’s Thread on Etherscan 101
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.