🛒FTX Ventures 30% Stake in SkyBridge - TWJ #226
SBF continues his shopping spree.
Hi folks,
Indexing, or investing in a “basket of assets” within a specific set of rules, has been the number one investment trend in the past few decades. In 2020, the combined AUM of index funds reached $10 trillion. The big three index funds: BlackRock, Vanguard, and State Street managed a combined $22 trillion in AUM. The big three index providers, S&P Dow Jones, FTSE Russel, and MSCI facilitated a combined AUM of more than $40 trillion benchmarked to their indexes.
Frankly, it is surprising that we haven’t seen much success in the on-chain indexing space. Or is it?
In this write-up, we present explanations of why on-chain indexes are struggling, their pros and cons, as well as their parts in the future of the crypto market.
Here are the quick takeaways:
Indexing has been the number one investment trend and crypto needs to embrace it if it wants to reach $10 trillion in market capitalization.
On-chain indexes are currently stagnating because they target the wrong crowd.
Smart contracts are suitable to automate index methodology on-chain, but require a robust framework and adaptability on the protocol level.
If governance functions as intended, on-chain index winners will become the BlackRock of crypto.
On-chain indexes lack distribution, which might require centralization tradeoffs to optimize.
In today’s issue:
The crypto market is flat with its total market cap above ~$900 billion. Terra (LUNA) has been the worst performer in the top 100 in the past 7-d (wth). The dollar is dropping after a record surge last week.
In other news, FTX Ventures takes a 30% stake in SkyBridge Capital, SEC forms a new office for crypto disclosures, and Coinbase backs Tornado Cash sanctions lawsuit.
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 Ventures Takes a 30% Stake in SkyBridge Capital
SBF continues his shopping spree and took a 30% stake in Anthony Scramucci’s SkyBridge Capital.
⎆SEC Forms a New Office for Crypto Disclosures
The SEC will establish a new office for crypto filings. It will be within the Division of Corporation Finance, which handles disclosures for publicly traded companies. Cicely LaMothe is the associate director for disclosure operations within that division.
⎆Coinbase Backs Tornado Cash Sanctions Lawsuit
The largest US-based crypto exchange backs the lawsuit against US Treasury for sanctioning Tornado Cash.
The lawsuit centers on a novel argument: Whether the U.S. government can target recurring code for national security purposes. The employees filed their suit in the U.S. District Court for the Western District of Texas.
“People, or entities, or properties are fair game. Code is not,” Paul Grewal, Coinbase‘s chief legal officer, told The Block.
👨🏻💻Decentralized Finance (DeFi)
Umami Approved by Circle to Open an Account
Nereus Finance Exploit
MIM Exploit
Rage Trade is Live
Chaos Labs Launches v0 of AAVE v3 Risk Application
Notional Finance Introduces Leverage Vault
LayerZero Introduces LayerZero Scan
Kujira Introduces Kujira POD
Y2K Finance Live on Arbitrum
DeFi DApps Activity Rises 3.7% in August
🏛Governance - Active Proposals
Compound - Initialize Compound III COMP Distribution
Compound - cETH Risk Mitigation
Compound - Risk Parameter Changes for FEI
Fei - TIP_121a (cont.): Consolidation ops and technical cleanup
Gitcoin - Public Goods Funding S15 Budget Request
🦮NFT & Metaverse
Sandbox's Instagram Account Compromised
Investigators Recover $30M in Stolen Crypto From Axie Infinity Hack
Chicago Bulls to Release NFT Artwork Reimagining Its Iconic Logo
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Hubble Protocol - $5M Unknown Round
Magpie - $3M Seed Round
Slide - $12.3M Seed Round
Cooper Turley - $10M Music Startup Fund
MetaWeb - $30M Early Stage Crypto Startups Fund
Animoca - $110M Open Metaverse Fund
⚖️Regulatory Update
Florida Man Pleads Guilty to Stealing $100 Million in Crypto Ponzi Scheme
Ethereum Name Service Creator Sues GoDaddy Over Expired Domain
Gary Gensler Backs Giving CFTC Bitcoin Oversight
Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury
US Treasury to Recommend Issuing Digital Dollar
📚Noteworthy Reads
Lucas’s Thread on ETH’s Supply & Demand Following the Merge
0xmons’s Thread on Why Sudo
Viperr.eth’s Thread on How to be an Alfa Hunter
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.