👷Coinbase 2,000 People Hiring Spree - TWJ #84
Crypto native talents continue to remain scarce.
In today’s issue:
The crypto market is flat with the global market cap sitting at ~$1.8-1.9 trillion. Kadena (KDA) led the top 100 past 24-h performance, while global markets continue to stay mixed despite the de-escalation by Russia.
In other news, Coinbase plans a 2,000 employee hiring spree, DARMA Capital unveils CFTC-regulated swap product, and US Treasury reiterates the broker-dealer language.
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
⎆Coinbase Plans a 2,000 Employee Hiring Spree
The largest crypto exchange in the US has announced that it plans to hire up to 2,000 people in 2022 as the firm is gearing up to diversify its business and take on projects in other areas of the crypto industry. Some of the initiatives mentioned were NFTs and Coinbase wallet.
⎆DARMA Capital Unveils CFTC-Regulated Swap Product
In perhaps one of the first CFTC-regulated swap products for altcoins, DARMA Capital created a derivative of Filecoin, called the Filecoin Asset Use Swap (FAUS), which enables $100M of its FIL holdings to be loaned out. While the scope is very limited, it seems that the US is becoming more open to crypto derivatives products as regulators realize that they better adapt, or other jurisdictions will take the pie.
⎆US Treasury Reiterates the Broker-Dealer Language
The block reported that a letter from the Treasury was sent to reassured six concerned senators that the new broker-dealer language won’t treat crypto miners, stakers, and wallet providers as “brokers” for tax purposes. This reporting rule was previously a hot topic of debate as it could’ve potentially become a major issue for the crypto industry in the United States. The six senators who expressed their concerns were Cynthia Lummis, Mark R. Warner, Rob Portman, Kyrsten Sinema, Pat Toomey, and Mike Crapo.
👨🏻💻Decentralized Finance (DeFi)
Element Finance Introduces Voting Vault
Announcing the PERP Convertible Voucher Offering
Concerns over Monero Mining Pool that has 44% of the Network's Hash Rate
Build Finance DAO Suffers 'Hostile Governance Takeover,' Loses $470,000
🏛Governance - Active Proposals
Babylon Finance - BIP-11: Heart Bonding Program
PoolTogether - PTIP-55: Extend Pool Emissions
🦮NFT & Metaverse
Opera Browser to Enable Emoji-based Web Addresses
Polygon and Cere Network to Launch web3 Media Platform, DaVinci
British Authorities Just Seized NFTs for the First Time
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Pixels - $2.4M Unknown Round
Skill Wallet - $1.65M Seed Round
Kyro - $10M Series A
BUD - $15M Extended Series A
Animoca Brands and Brinc - $30M Guild Accelerator Program
⚖️Regulatory Update
Canada's Trudeau Enacts Emergencies Act, and Crypto Is Included
Federal Judge Releases 'Razzlekhan,' Orders Other Bitfinex Hack Laundering Suspect to Remain in Jail
Indian Crypto Exchanges Met With Finance Ministry Officials to Seek Tax Reconsideration
Russian Central Bank, Government No Closer to Crypto Compromise
📚Noteworthy Reads
Tilt101’s Read on Do I need an S-Corp or LLC in Crypto?
Sahil Bloom’s Thread on 10 Ways to Stand Out in a Hiring Process
Evan Armstrong’s Read on Is YC the Monopoly It Thinks It Is?
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.