💼FTX Rumored to Buy BlockFi for $25M - TWJ #177
CEO Zac Price denied the rumor without providing too much clarity.
In today’s issue:
The crypto market is down with its total market cap at ~$800 billion. Synthetix (SNX) is the worst performer in the top 100 in the past 7-d. The S&P 500 experienced its worst first half (6 months) year since 1970.
In other news, FTX is rumored to buy BlockFi for $25M, the EU agrees on landmark crypto MiCA rule, and OneCoin’s Ruja Ignatova was added to the FBI’s most-wanted list.
Turns out “smart money" isn’t as smart as we think.
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 Rumored to Buy BlockFi for $25M
News broke out from CNBC reportedly saying that FTX is closing in on a deal to purchase BlockFi for $25M. That said, BlockFi’s CEO Zac Prince took to Twitter to address the rumor, saying that they aren’t being sold for $25M. Frankly, doesn’t matter what the price is at this point, it seems that early backers will get their capital cut by more than 90%.
⎆EU Agrees on Landmark Crypto MiCA Rule
European policymakers have struck on landmark legislation that will regulate crypto assets throughout 27 member nations. As a start, the legislative package will set up requirements for crypto-asset issuers to publish a technical manifesto (white paper), register with the authorities, and keep bank-style reserves for stablecoins.
⎆OneCoin’s Ruja Ignatova Added to the FBI’s Most-Wanted List
The infamous founder of OneCoin, Ruja Ignatova, often dubbed as “Cryptoqueen” has just been added to the FBI’s Tes Most Wanted Fugitives. OneCoin was more or less a scam multi-level marketing whereby members sell educational crypto trading packages to other members and receive commissions. Ignatova disappeared in 2017.
👨🏻💻Decentralized Finance (DeFi)
Compound III Plan
Decentral Bank Announces USN v2.0
Rocket Pool Introduces Redstone
Risk Harbor Releases Four New Vaults on Core v2
ConsenSys, StarkWare Ink Deal to Bring ZK-rollups to MetaMask and Infura
Polygon Introduces Polygon Avail
MetisDAO Foundation 2nd Half Year Roadmap 2022
Centrifuge Introduces Centrifuge Connectors
Napster To Launch Its Own Token On Algorand
STEPN’s DEX Surpasses Orca to Become Largest DEX on Solana
🏛Governance - Active Proposals
Compound - Risk Parameter Updates for 2 Collateral Assets
🦮NFT & Metaverse
Facebook Begins Testing Ethereum and Polygon NFTs on Profiles
Binance Taps TikTok Star Khaby Lame to Drive Web3 Adoption
Nansen Adds Support for Solana NFTs
Coinbase WalletIntergrates with LooksRare
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Kyve Network - $9M Unknown Round
Fitmint - $1.6M Seed Round
NFTEye - $1.65M Seed Round
WeatherXM - $5M Seed Round
MoHash - $6M Seed Round
Trinsic - $8.5M Seed Round
Soba - $13.6M Seed Round
League of Traders - $2.4M Pre-series A
Mona - $14.6M Series A
Reciprocal Ventures - $70M Reciprocal Ventures II
⚖️Regulatory Update
EU Agrees on Landmark Crypto Authorization Law, MiCA
Biden Official: US Government Could Pass Stablecoin Rules by End of Year
CFTC Charges Bitcoin Club Mirror Trading International With $1.7B Fraud
Basel Committee: Banks’ Bitcoin Holdings Should Be Capped,
FATF Tells Countries to Hurry Up With Crypto ID Checks
FBI Adds OneCoin Founder Ruja Ignatova to Most Wanted List
New York Environmental Regulators Deny Greenidge’s Power Plant Permit
VanEck Refiles With SEC for Spot Bitcoin ETF
📚Noteworthy Reads
Kaleo’s Thread on Bear Market Sentiment
Fabrice Grinda’s Read on Crypto-Enabled Marketplaces
Huobi Research’s Read on Who Will be Next to Face a Liquidity Crisis?
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
DISCLAIMER:
All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.