🌳GoldenTree Gets Involved With Sushi - TWJ #245
The $50 billion asset manager is getting serious.
Hi folks 🙋🏻♂️,
On September 28, @codygarrison_ from Clearblock released a web3 VC ranking database for founders to better understand the crypto VC landscape. I’ve always loved the idea of reverse accountability. Auditing the auditors, regulating the regulators, and doing diligence on the VCs. Clearblock did a good job providing scores for these VCs, so I’m going to focus on the financials aspect instead.
Here are the quick takeaways:
Private markets are often opaque, which makes it difficult to get a clear understanding of a fund’s compensation structure and financial health.
Investment DAO can lead the way in improving a fund’s transparency by storing everything on-chain.
As founders or young investment professionals, scrutinizing the VC firms themselves as a business is crucial.
The bull market gave rise to many new VC firms, which deserve more diligence as they themselves can be considered “startups” also.
VC is a “top-heavy” business — the majority of the value capture goes towards the founders and General Partners. Understanding this dynamic when one is raising capital is critical to find the best fit for your startup.
In today’s issue:
The crypto market is flat with its total market cap above ~$900 billion. Evmos (EVMOS) has been the best performer in the top 100 in the past 24-h.
In other news, GoldenTree gets involved with SushiSwap, Cboe enters DeFi, and Yuga Labs forms the Bored Ape Community Council.
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
⎆Goldentree Gets Involved With Sushiswap
~$50 billion asset manager GoldenTree has taken a $5.3M stake in SushiSwap.
⎆Cboe Enters Defi
Cboe is joining Pyth Network to provide real-time market data for the blockchain.
“We are curious about the Defi landscape, and feel that participating in Pyth gives us the ability to learn what it is like to be a part of this new market,”
⎆Yuga Labs Forms the Bored Ape Community Council
Web 3 metaverse powerhouse Yuga Labs has formed the Bored Ape Community Council. It aims to keep the council autonomous and will involve long-standing proactive community members.
👨🏻💻Decentralized Finance (DeFi)
UXD Protocol Introduces Asset Liability Management Module
Etherscan New Updates to Blockscan Chat
zkSync 2.0 Testnet Undergo Regenesis on October 10th
Ribbon Finance's Unsecured Lending Product Sees Crypto Firms Folkvang and Wintermute Borrow Over $10M
🏛Governance - Active Proposals
Fei - TIP-121c: veBAL OTC with Aave Companies
Hop - Hop Proposal Bundle: HIPs 0-7, SNX/sUSD Bridging Support
🦮NFT & Metaverse
Three Arrows Capital's NFT Collection to be Liquidated
OpenSea Allow Users to Submit Bulk NFT Listings and Purchases
Animoca Brands x Cool Cats Partnership
Yuga Labs Announces BAYC Community Council
Polygon Studios Metaverse Lead: JPEGs Are 'Not the Future of Web3 and NFTs':
Mythical Games Enlists Ubisoft, Animoca to Launch Web3 Gaming DAO and Token
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Lasso Labs - $4.2M Unknown Round
Skyweaver - $40M Series A
Sushi - $5.2M Investment by GoldenTree
⚖️Regulatory Update
Russia Blocks Access to Crypto Exchange OKX
Europe Finalizes Landmark Crypto Rules
SEC Cracks Down on Multimillion Crypto Ponzi Targeting Latino Investors
Republican Lawmakers Who Oppose a Fed-Issued CBDC Ask for Justice Department's Assessment
Second Crypto Group Objects to CFTC's Use of Chatbot to Serve Legal Papers
📚Noteworthy Reads
Kyle Samani’s Thread on Web3 Identity
Smolthots.eth’s Read on PBS? More Like WTF.
Jeff Morris Jr’s Read on Crypto Market Fit
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.