⚡Electric Capital $1 Billion Fund - TWJ #95
Once again, the money faucet just does not stop.
In today’s issue:
The crypto market is up with the global market cap sitting at ~$1.9-2 trillion. Convex Finance (CVX), one of the most important players in the DeFi curve war, led the top 100 assets past 24-h performance.
In other news, Electric Capital launches a new $1 billion fund, CME plans to offer micro crypto options, and Citadel Securities hints that it might market make in crypto soon.
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
⎆Electric Capital Launches a New $1 Billion Fund
Notable crypto venture fund Electric Capital announced the launch of its new $1 billion funds. The new capital will be split between a $400M venture fund and a $600M token fund. The firm’s new fund is a significant step up from the firm’s last fund of $110M in August 2020.
⎆CME Plans to Offer Micro Crypto Options
Chicago Mercantile Exchange Group, one of the world’s largest derivatives exchanges, announced its plan to offer micro BTC and ETH options. Although it’s been a while since CME started offering crypto derivatives, this is its attempt at expanding the firm’s dominance in the options market, which has largely been dominated by Deribit.
⎆Citadel Hints That It Might Market Make in Crypto Soon
Citadel’s founder Ken Griffin stated in an interview that the firm is on its way to market-make in the crypto market in the next few months. A few months ago, notable crypto VC firm Paradigm invested in Citadel Securities in the firm’s first-ever outside capital raise ($1.15 billion funding round).
👨🏻💻Decentralized Finance (DeFi)
Polkadot and Tron Founders Beseech Ukraine to Accept Their Tokens
Osmosis Launches Staking Service
Introducing zkLend: Coming Out of Stealth Mode
Ribbon Finance Partnership with BENQI
Chainflip Introduces "Just In Time AMM” (JIT AMM) Design
Kromatika to Launch on Arbitrum
Uniswap Builds Interface to Swap Altcoins into ETH Donations for Ukraine
Layer 2 Address Activity Slows, but Arbitrum Bucks the Trend
🏛Governance - Active Proposals
Fei - FIP-45a: ANGLE Meta-governance
Fei - FIP-83: La Tribu (hiring devs from DAO)
Gitcoin - Canceled proposal: Fraud Defence & Detection (FDD) - S13 Budget
🦮NFT & Metaverse
Introducing Ascenders: An Open-world Action RPG in AVAX
The Crypto Unicorns Rainbow Token Launch Action is Live
Pplpleasr’s Shibuya Video Platform Uses NFTs to Fund & Shape Films
Dolly Parton Creates the 'Dollyverse', Releases NFTs
Axie Infinity Players Push Back on Fee Hike As Play-to-Earn Economy Lags
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
VALR - $50M Series B
Electric Capital - $1B Token Fund and Venture Fund
The Giving Block - $54M Upfront Payment Acquisition by Shift4
⚖️Regulatory Update
At Least $14M Out of $26M in Donated Crypto to Ukraine Already Disbursed
EU Parliament Scraps Proof-of-Work Ban Following Backlash
Florida Judge Denies Kleiman Estate’s Request for Trial Against Craig Wright
Aussie Advisory Committee Lists Key Factors for Easing Crypto Adoption
📚Noteworthy Reads
LoFi_Brian’s Thread on How to Get Job in Web3
Rocco’s Read on Why Sign-In with Ethereum is a Game-Changer - Part 1
DeFi Edge’s Read on How to Judge if a Crypto Protocol can Execute its Vision
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.