💸FTX $1 Billion Philanthropic Fund - TWJ #94
Effective altruism at its best.
In today’s issue:
The crypto market is up with the global market cap sitting at ~$1.6-1.7 trillion. LUNA continues to lead the top 100 past 7-d performance as it breaks all-time high. Global markets drop with S&P 500 futures pointed to decline at the open.
In other news, FTX pledges $1 billion for its philanthropic funds, Bank of America sees no crypto winter, and ECB urges crypto regulations.
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
⎆FTX Pledges $1 Billion for Its Philanthropic Funds
FTX, one of the world’s largest crypto exchanges, announced its $1 billion funds that will invest in “ambitious projects in order to improve humanity's long-term prospects”. Named the “Future Fund”, the entity is a part of the FTX Foundation and will invest at least $100M in 2022.
⎆Bank of America Sees No Crypto Winter
In its report titled “Digital Assets: In the Flow.”, Bank of America stated that the firm doesn’t really see another “crypto winter” due to the level of user adoption and development activity happening in the space. Unlike the boom-bust crypto cycle in 2017, the majority of crypto projects these days are much more tangible with real use cases and business models.
⎆ECB Urges Haste on Crypto Regulation
ECB President Christine Lagarde stated that the EU must move quickly on crypto regulations in order to prevent Russia from evading sanctions.
“There are always criminal ways to try to circumvent a prohibition, which is why its so critically important that MiCA is pushed through as quickly as possible so we have a regulatory framework,”
The EU is currently working on legislation known as Markets in Crypto Assets (MiCA), which will be playing a critical role in preventing criminals from circumventing a prohibition.
👨🏻💻Decentralized Finance (DeFi)
Solidex Rockets to $2.18B in TVL Within Days Of Launch
2M ETH Staked in Lido
Ribbon FInance Launches veRBN
Avalanche Blockchain Now Accessible to 4.5M Users Across Wirex
Mars Protocol Phase 2 LBA is Live
Evmos Launch Delayed
Starlay Finance to Live on Astar
🏛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
Nouns DAO - TSP x Nouns: Skateboard Design and Giveaway
🦮NFT & Metaverse
FloorDAO Sweep Crypto Punk Floor
JPEG’d Airdrop for Top 100 Donations
KPMG Canada Buys World of Women Ethereum NFT, ENS Domain Name
Crabada Introduces Swimmer Network
Pixelmon NFT Reveal Disappoints With Hilariously Ugly Art
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
FriesDAO - $5.4M Unknown Round
Matrix World - $5.5M Unknown Round
ArDrive - $17.2M Seed Round
Thetanus Finance - $18M Seed Round
Karmaverse - $6M Strategic Round
Ramper - Unknown Seed Round
⚖️Regulatory Update
Accused Bitfinex Launderer Heather Morgan Might Be Offered a Plea Deal
Russia Sanctions Present ‘Dramatic Testing Moment’ for Crypto Exchanges
US Treasury Department Formally Adds Crypto Rules to Russian Sanctions
US Treasury Prohibits Transactions With Russia's Central Bank
US Shutters Embassy in Belarus Amid Russia-Ukraine Peace Talks
Wintermute Wins Approval for UK's Crypto Register as Deadline Approaches
Israeli Government Orders Seizure of Crypto Wallets to Block Hamas Funding
BitConnect Founder Convicted in $2.4B Ponzi Scheme Has Disappeared
Ukraine Asks Binance & 7 Other Crypto Exchanges to Block Russian Users
📚Noteworthy Reads
BowTiedNightOwl’s Thread on Institutional Investors vs. Retail Investors
Jordi Alexander’s Thread on Power of Meme
Loopify’s Thread on My Current Thoughts on the NFT Market
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.