💼FTX Launches New Institutional Unit - TWJ #101
SBF is moving fast, like really fast.
In today’s issue:
The crypto market is down with the total market cap sitting at ~$1.8-1.9 trillion. Fantom (FTM) is the worst weekly performer in the top 100 assets by market cap. US House of Representatives bars U.S. imports of Russian oil.
In other news, FTX launches institutional arm, Spartan Group $200M Metaverse Fund, and State Street partners with Copper for crypto custody.
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 Launches Institutional Arm
Crypto exchange giant FTX has announced the launch of a new unit called FTX Access, which will be a one-stop shop for institutional services equipped with advisory, trade execution, and analytical tools. The new division will also facilitate venture investments access as well as launching crypto-linked exchange-traded products. Former Coinbase Head of Derivatives was recruited to lead the new division.
⎆Spartan Group $200M Metaverse Fund
Spartan Group, one of Asia’s most notable crypto funds, announced that it’s set to close a $200M fund focusing on the Metaverse. General Partner Jason Choi stated the following:
“We only care about the metaverse or games where the users are empowered through ownership so you can own the in-game assets. You can own your characters, you can own part of the game, you can share in part of the value that you create for the game. We pretty much spend most of our time studying protocols like that and investing in teams that are building into that vision.”
⎆State Street Partners With Copper for Crypto Custody
Legacy finance giant State Street has announced its new crypto custody offering service in partnership with Copper, a UK-based crypto custody startup.
"State Street Digital will leverage Copper.co’s technology to develop and, subject to receipt of regulatory and other approvals, launch an institutional grade digital custody offering where clients can store and settle their digital assets within a secure environment operated by State Street,"
👨🏻💻Decentralized Finance (DeFi)
dYdX Launches Beta iOS App for Limited Users
Woo Network Introduces Trade to Earn
THORchain Spikes by 34% After Activating Synthetic Assets
Kava Deploys Ethereum Developer Support on Testnet
Former Snapchat Director of Engineering, Moves to Uniswap Labs
EmpireDAO Is Building a WeWork for Web 3
First Power Perpetual on Solana is Live on 01 Exchange
🏛Governance - Active Proposals
Code4rena - C4IP-8: Migration to New Governor Contract
Silo - SIP-4: Reimbursing the development fund for buying CVX
Yam Finance - Contributors comps for February
🦮NFT & Metaverse
Crypto.com Airdrops LeBron James NFT Collection
Web3 Platform Integrates Social Commerce App into Circle's
Slim Jim Trademark Filings Reveal Metaverse Plans
Miami Nightclub E11EVEN Rolls Out Crypto Division
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Swim Protocol - $4M Unknown Round
UpStream - $12.5M Series A
Lunar - $77M Series D Extension
Spartan Group - $200M Metaverse Fund
Gem - Undisclosed $ of Acquisition by Blockdaemon
Otis - Undisclosed $ of Acquisition by Public
⚖️Regulatory Update
EU Says Russia, Belarus Sanctions Extend to Crypto
Crypto Pro Yoon Suk-Yeol Wins South Korea’s Presidential Election
Biden’s Executive Order on Crypto Met With Relief From Key Industry Players
Final BitMEX Co-Founder Pleads Guilty to US Violations
Dubai Adopts Crypto Law, Establishes Independent Authority for Oversight
📚Noteworthy Reads
Tom Emmer’s Thread on Biden’s Executive Order on Digital Assets
Ryan Watkins’s Thread on Cryptocurrencies Have Two Paths
Parik’s Thread on How to Become a Full Stack Web Developer
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.