In today’s issue:
The crypto market is flat with its total market cap above ~$1.1 trillion. Celsius (CEL) has been the worst performer in the top 100 in the past 7-d. The Crypto market retraced significantly over the weekend.
In other news, FTX grew revenue by 1000%, FDIC issued cease-and-desist letters, and Tribe DAO proposes $157m redemptions.
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
⎆FTX Grew Revenue by 1000%
FTX exchange leaked financials show that the exchange grew its revenue by more than 1,000% in 2021. The revenue numbers went from $89M to $1.02 billion in one year. Its net income is also up to $388M, up from $17M in the previous year.
⎆FDIC Issued Cease-And-Desist Letters
The FDIC has sent cease-and-desist letters to five crypto companies FTX US, Cryptonews.com, Cryptosec.info, SmartAsset.com and Crypto.com for making “false and misleading statements”
"The Federal Deposit Insurance Act (FDI Act) prohibits any person from representing or implying that an uninsured product is FDIC-insured or from knowingly misrepresenting the extent and manner of deposit insurance,"
⎆Tribe Dao Proposes $157M Redemptions
One of DeFi’s most prominent DAO is planning to wind down. As a part of it, the DAO plans to provide $157M redemptions for those who were impacted by the $80M Rari hack earlier this year.
👨🏻💻Decentralized Finance (DeFi)
Fei Labs will Stop Participating in the Tribe DAO
Aptos Incentivized Testnet 3
Homora V2 x Uniswap V3 Launch on Optimism
Dogechain Live on Synapse
UMAMI to Pause USDC Vault
Hidden Hand Live on Optimism
Aztec Responds to FTX 'Freezing' User Accounts
🏛Governance - Active Proposals
Compound - The first proposed Compound III market is USDC on Ethereum
Uniswap - Create the Uniswap Foundation
🦮NFT & Metaverse
CryptoPunk Ethereum NFTs Floor Price Flips Bored Apes
Bored Apes, Moonbirds Have 'Misled' Buyers on NFT IP Rights
Bored Ape Yacht Club NFTs Ethereum Floor Price Drops to 8-Month Low
Bored Ape NFTs Are in Danger of Getting Liquidated
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
W3 Storage Lab - $3M Pre-seed Round
Rocketpalace - $9M Seed Round
Safeheron - $7M Pre-series A
⚖️Regulatory Update
Voyager Customers Say No to 'Retention' Bonuses for Employees
Socios.com Gets Regulatory Approval in Italy
Canadian Bank Regulator Details Crypto Liquidity, Backing Rules
FDIC Orders Crypto Exchange FTX US, 4 Others to Cease 'Misleading' Claims
📚Noteworthy Reads
BitMex Research’s Read on OFAC Sanctions & Ethereum PoS – Some Technical Nuances
CMS Intern and Mark Bissell’s Read on Crypto Hacks
Kames.eth’s Thread on Ceramic Net
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.