🚀Coinbase Nano ETH Futures - TWJ #217
More ways to speculate on the merge.
Hi folks,
DAO is a mess. A few days ago, TRIBE DAO, one of the most notable DeFi DAO in the crypto space announced its intention to shut down. Maybe I’m a young boomer, but optimizing for accountability and effectiveness is extremely difficult when something is “autonomous”. Perhaps a good idea for decentralized financial mechanisms, but an extremely bad idea for builders.
Here are the quick takeaways:
Decentralizing too fast or early is the number one mistake.
DAO insiders often create a “false narrative” that every decision is “the will of the community”.
Having a hierarchical structure in a DAO is not a bad thing.
A mature DAO probably looks a lot like a publicly traded company.
Accountability needs to be enforced on-chain.
In today’s issue:
The crypto market is flat with its total market cap above ~$1 trillion. Synthetix (SNX) is the best performer in the top 100 in the past 24-h. Today, Fed Powell will deliver a keynote speech, and investors’ anticipation is high.
In other news, Coinbase adds nano ETH futures, crypto firms hunt Voyager’s assets, and Cboe adds crypto-heavy equity partners.
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
⎆Coinbase Adds Nano ETH Futures
The largest US-based crypto exchange is adding nano ETH futures as the merge approaches. This means that investors require far less capital to speculate on the future of ETH prices.
⎆Crypto Firms Hunt Voyager’s Assets
Crypto giants such as Binance and FTX are amongst others who are on the hunt for Voyager Digital crypto assets. Voyager went into bankruptcy and bids for its assets are due on September 6, with a winner picked on September 29.
⎆Cboe Adds Crypto-Heavy Equity Partners
The derivatives marketplace has added a cohort of crypto heavyweights to be its equity partners as it revamps its crypto-facing division, Cboe digital markets. The firms included are Jump Crypto, Robinhood, and DRW.
👨🏻💻Decentralized Finance (DeFi)
Compound III Proposal has Succeeded
Dogechain Launches $DC Token
Sui Fullnode and Validator Selection Announcement
Coordinape Launches Decentralized Compensation Tool for DAOs
🏛Governance - Active Proposals
🦮NFT & Metaverse
Eminem and Snoop Dogg to Perform Bored Apes Track at MTV Music Awards
Coinbase Eyes Long-term Growth of Subscription Revenue, NFTs still a Focus
Reddit Is Airdropping Free Polygon NFT Avatars to Its Most Hardcore Users
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Spectral - $23M Unknown Round
Zodiac World - Undisclosed $ Pre-seed Round
Mellow Protocol - $2.75M Seed Round
Comm - $5M Seed Round
Chainshot - Undisclosed $ of Acquisition by Alchemy
Symbolic Capital - $50M Web3 Fund
⚖️Regulatory Update
Coinbase Wants You to Register to Vote (for Pro-Crypto Candidates)
Afghan Authorities Shut Down 16 Crypto Exchanges in One Week
Siam Commercial Bank Scraps $500M Purchase of Stake in Thailand’s Largest Crypto Exchange
Dutch Judge Orders Tornado Cash Dev to Stay in Jail for 3 More Months
CoinSwitch Kuber Searched by Indian Authorities
📚Noteworthy Reads
T11s’s Thread on VRGDAs
Jesse Walden’s Read on Tokens are Products
Ann’s Read on The Rise of Decentralized Perps
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.