📈Justin Sun Readies $5 Billion for Acquisitions - TWJ #183
The Tron founder is willing to help ailing crypto firms.
In today’s issue:
The crypto market is up with its total market cap at ~$900 billion. Quant (QUANT) is the best performer in the top 100 in the past 7-d. Market participants are eyeing US corporate earnings for hints about recession.
In other news, Justin Sun readies $5 billion to help crypto firms, Blockchain.com faces $270M losses from 3AC loans, and Celsius hires new restructuring lawyers.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Justin Sun Readies $5 Billion to Help Crypto Firms
The founder f Trn has stated that he’s ready to spend up to $5 billion to help ailing crypto firms n acquisitions. Sun said that many companies have reached out to him and Tron for help.
⎆Blockchain.com Faces $270M Losses From 3AC Loans
Crypto exchange Blockchain.com is reported to stand to lose $270M as a result of lending money to 3AC. Blockchain.com said that 3AC has borrowed a repaid over $700M of crypto assets in the past 4 years.
“Three Arrows is rapidly becoming insolvent and the default impact is approximately $270 million worth of cryptocurrency and U.S. dollar loans from Blockchain.com,”
⎆Celsius Hires New Restructuring Lawyers
Troubled crypto lender Celsius Network has reportedly hired new lawyers for its restructuring plan amidst the fallout. The firm has previously hired Akin Gump Strauss Hauer & Feld LLP but has now replaced it with Kirkland & Ellis LLP.
👨🏻💻Decentralized Finance (DeFi)
BiFi Exploit
JUNO version 8.0.0 is now Live
Polynomial Introduces Basis Trading Vault
Gauntlet Launches SNX Risk Dashboard
Yam Finance Safeguards $3.1M Treasury From Governance Attack
Crema’s Exploit Incident Compensation Plan
Vendor Finance to Launch on Arbitrum
SudoSwap SudoAMM Public Release
Ripio Argentinian Crypto Exchange to Launch Ethereum Sidechain, Web3 Wallet
🏛Governance - Active Proposals
Ampleforth - Set Proposal Threshold to 75k (current contract minimum)
Ampleforth - Geyser Refresh for July 13, 2022
ENS - Funding True Names Ltd
Uniswap - Optimism 1bp Fee Tier
Yam Finance - Contributors comps for June
🦮NFT & Metaverse
Axie July Development Update
OMNI Exploit
Fractional is Ready for Audit
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Torches - Undisclosed $ Strategic Round by KuCoin Ventures
DeepNFTValue - $4M Seed Round
Curios - $5M Seed Round
Salto X - $5.285M Seed Round
⚖️Regulatory Update
State Regulators Intensify Scrutiny of Voyager: Report
Celsius Hires New Law Firm to Oversee Restructuring
US Fed Vice Chairwoman Brainard Doesn’t Like What She’s Seeing in Crypto
DeFiance Capital is now Considering Legal Action Against 3AC
India's Law Enforcement Agency Probes Crypto Exchanges
Bitso Brings Crypto Remittance Service to Colombia
Grayscale Legal Officer Says Bitcoin ETF Litigation Could Take Two Years
ECB: Terra Crash Highlights Stablecoin Risk to Financial Stability
FSB to Propose Crypto Regulations in October
G20 Regulators Call for New Global Rules on Cryptocurrencies
📚Noteworthy Reads
Fed Surfer’s Read on Crypto's Third Trillion Dollar Opportunity
Kirill Naumov’s Thread on 100 Questions Tokenomics
Messari’s Thread on Crypto x Real Estate
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
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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.