📝CME Group Adds ETH Option - TWJ #212
Ethereum market activity continues to heat up.
Hi folks,
The crypto space is full of young people that have strong opinions and are often blinded by ideologies that are not always predicated on realities. As the industry matures, the battle between differing ideologies within the crypto space itself will become much more complex. In this write-up, I cover how crypto networks and protocols can benefit from vertical integration, a common concept in business; but might cause a dilemma for those upholding the decentralization ethos to the fullest.
Here are the quick takeaways:
Centralized players in the crypto space are already doing this.
Execution matters more than innovations in an open-sourced and fork-able industry.
Products that are closest to the end users have the most valuable currency and the highest potential to integrate vertically.
Vertically integrating removes the need for external composability that can introduce additional risks.
The underlying technology might be decentralized, but in near future, the killer products will be centralized.
In today’s issue:
The crypto market is flat with its total market cap above ~$1.1 trillion. Filecoin (FIL) has been the worst performer in the top 100 in the past 24-h. Fed officials provide mixed guidance over the next interest-rate increase.
In other news, CME adds ETH options, Gemini launches staking services, and Tether swaps accounting firms.
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
⎆CME Adds ETH Options
CME Group announced that it plans to start offering ETH options for its ETH futures on September 12.
These new contracts deliver one ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether.
⎆Gemini Launches Staking Services
US-based crypto exchange Gemini will start offering staking services for clients in the US, Singapore, and Hong Kong regions. The firm will start with MATIC and will roll out support for ETH, AUDIO, SOL, and DOT in the next few months.
⎆Tether Swaps Accounting Firms
Tether stated that it will switch the accounting firm responsible for its regular attestation reports. BDO Italia has been tapped to produce monthly reports for Tether moving forward.
The firm, a member of the Binder Dijker Otte, or BDO, global network of accounting and consulting firms, will publish the attestations and assurance reports that detail the assets that make up the $67 billion the USDT stablecoin has in reserves, Tether said Thursday.
👨🏻💻Decentralized Finance (DeFi)
CME to Launch Ether Options on September 12
Coinbase would rather Shut Down Staking than Enable On-chain Censorship
Gnosis Safe To Airdrop 50 Million SAFE Tokens
Mercado Libre Launches Its Own Ethereum Cashback Token
ETHW Plummets 62% Just Weeks Before Merge
Copper to Connect to Solana for DeFi Access
cBridge DNS Attack
HUSD Depeg
Mycelium Perpetual Trading is now Live
🏛Governance - Active Proposals
Uniswap - Create the Uniswap Foundation
🦮NFT & Metaverse
CryptoPunks: 'No Current Plans' for Scrapped V1 NFTs=
Rarible Proposes No-Fee Bored Ape NFT Marketplace for ApeCoin Users
Dapper Labs Opens NFL Version of NBA Top Shot NFTs to the Public
=Stepn Teams With Atlético de Madrid and Crypto Exchange WhaleFin=
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
dWallet Labs - $5M Pre-seed Round
GitPOAP - $4M Seed Round
Unlockd - $4.4M Seed Round
Primitive - $9M Series A
Koibanx - $22M Series A
SuperLayer - $25M Fund
⚖️Regulatory Update
Celsius' Collapse Into Bankruptcy Should Be Probed, US Says
South Korea to Block KuCoin, Poloniex in Crackdown on Unregistered Exchanges
US Extradites Alleged Crypto Money Launderer From the Netherlands
Colombia Launches Digital Currency Initiative
Congressman: US Treasury's Tornado Cash Sanctions Are ‘Unprecedented’
📚Noteworthy Reads
Luca Prosperi’s Read on YODO: You Only Depeg Once
0xHamZ’s Read on The Releveraging
CIA Officer’s Thread on What to do if you think someone has hacked you?
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.