💻Coinbase Web 3.0 Wallet & dApps Support - TWJ #145
The rent-seeking business model is a race to the bottom in web 3.0.
In today’s issue:
The crypto market is slightly up with the total market cap sitting at ~$1.3-1.4 trillion. Maker (MKR) is the best performer in the top 100 in the past 7-d. The crypto market is still anticipating the ripple effect of the UST-LUNA blow-up.
In other news, Coinbase unveils Web 3.0 mobile dApps, S&P Global Ratings forms DeFi group, and Ben Bernanke says he sees no value in Bitcoin.
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 Unveils Web 3.0 Mobile dApps
The largest US-based crypto exchange has launched its web 3.0 dApps support including a self-custody hot wallet and a dApp browser. This will enable Coinbase’s users to directly access platforms such as OpenSea to trade NFTs, and DeFi platforms to receive yield.
⎆S&P Global Ratings Forms DeFi Group
A few weeks after rating Compound’s Treasury, S&P Global’s rating division announced the creation of its DeFi strategy group to provide a decentralized market framework for investors.
With the rise of institutional participation in the DeFi market to access yield strategies, there is a growing need to properly assess the risks associated with various protocols. The move by S&P also came after credit rating firm Moody stated that it is hiring crypto analysts.
⎆Ben Bernanke Says He Sees No Value in Bitcoin
Former US Fed Chair Ben Bernanke stated in an interview that he doesn’t believe that Bitcoin will work as either money, store of value, or digital gold — citing the usual criticisms that have been thrown around for years without adding new tangible opinions.
Bernanke was often called “Helicopter Ben” due to his suggestion in 2002 that the Fed could simply give money from helicopters to counter deflationary conditions. This comment laid the groundwork for the cypherpunks which eventually led to the creation of Bitcoin.
👨🏻💻Decentralized Finance (DeFi)
Coinbase Unveils Web3 Mobile Dapp and DeFi Wallet and Browser
Polygon and Others Extend Helping Hand to Terra Blockchain Projects
S&P Global Ratings Forms DeFi Group to Build Out Crypto Framework
Scream Insolvency
DEI Depeg
Do Kwon Update on Terra, Hard Fork Proposal
LFG Reserve Asset Status Update
fUSD Update, Currently Under Audit
Yagi Vault, L2 Native Yielf has Arrived on StarkNet
Mushroom Finance Shut Down
Drift Settlement Plan
Ratio Finance Mainnet is Live
Across v2 Update
Gelato Relay: A Fast & Reliable Multichain Transaction API
Abracadabra yvcrvSTETH Cauldron
🏛Governance - Active Proposals
🦮NFT & Metaverse
Crabada Battle Game is Launched
Okay Bears Knockoff Lands on Ethereum
Morgan Stanley Says NFTs Next to Watch After UST Collapse
Twitch Co-Founder Raises $24M for Web3 Gaming Company Metatheory
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Amulet - $6M Unknown Round
Metatheory - $24M Unknown Round
Oasis Pro - $27M Series A
Voyager Digital - $60M Private Placement
⚖️Regulatory Update
German Regulator Calls for New DeFi Laws
Portugal Makes U-Turn on Cryptocurrency Tax
China Returns as 2ND Top Bitcoin Mining Hub Despite the Crypto Ban
UK Proposes Regulations That Would Recognize Stablecoins As Payment
📚Noteworthy Reads
Greg Isenberg’s Thread on How to Prepare for a Recession
Ian’s Thread on Crypto Market Insights
Gustavo Lobo’s Read on Oracle Networks
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.