🖼️Kraken NFT Marketplace - TWJ #136
Perhaps blue chip JPEGs are the true inflation hedge after all.
In today’s issue:
The crypto market is flat with the total market cap sitting at $1.7-1.8 trillion. Tron (TRX) is the best performer in the top 100 in the past 7-d. The Fed is set to raise rates on Wednesday with economists expecting a 50 bps increase.
In other news, Kraken announces its NFT platform, Jane Street enters further into the DeFi space, and Gemini launched a web 3.0 design studio.
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
⎆Kraken Announces Its NFT Platform
Kraken has announced its upcoming NFT marketplace and opened the waitlist for interested users. The firm plans to make the NFT market zero-gas fees, which is an issue that many market participants have been criticizing OpenSea for.
Following suit Coinbase and other crypto exchanges, Kraken realized that the NFT marketplace is already too big to ignore. The fact that an entity such as OpenSea can come in and took value from Kraken & Coinbase showed how fast things can change in web 3.0
⎆Jane Street Enters Further Into the Defi Space
One of the world’s biggest market makers, Jane Street, is pushing further into the DeFi ecosystem by borrowing $25M in USDC. Jump Trading, which is arguably Jane’s biggest competitor, has been extremely active in the crypto space in the past 3-5 years, leading the charge in many ecosystems such as Solana and Terra.
Jane Street is still only testing the water with $25M. IMO, they need to be a lot more aggressive to catch up and realize the potential that they’ve been missing in the past few years.
⎆Gemini Launched a Web 3.0 Design Studio
Winklevoss-twin-backed Gemini exchange has announced its new project, a web 3.0 research and design studio named Superlunar. The new entity will be a standalone firm with Beth Kurteson leading the charge. The 14-person team will focus on design and security problems in the web 3.0 ecosystem.
The importance of deep research in crypto is becoming more apparent as large firms expand their research arms to catch up with the lightning-fast pace of the crypto industry.
👨🏻💻Decentralized Finance (DeFi)
PERP: Introducing Multi-collateral on Perpetual Protocol
Yearn's v3 Vaults are Coming
Saddle Finance Exploit
DFK Drama
Vesta Finance Introduces Cross-chain Minting of VST
Solana Restart Mainnet Beta
Anchor Applies Semi-dynamic Earn Rate
Volt Protocol Received ~$10M FEI Liquidity Backstop
Lido on Solana Wave 2 Onboarding
Hidden Hand Supports Tokemak C.o.R.E. 3
Hop Hints Governance Token
Optimism Introduces OP Stimpack
Ribbon Protocol Revenue Split
Raiden Network is now Live on Arbitrum
🏛Governance - Active Proposals
Compound - Update High-TVL cToken Implementations
Terra - Terra x Citadel DAO - Accelerating the growth of BTC/4pool
Unlock - Marketing unlock - david moderator
🦮NFT & Metaverse
Bored Ape Ethereum NFT Price Drops 32%
Kraken Announces NFT Marketplace
Minecraft Developers’ Petition Against Gaming NFTs
CI Global, Galaxy Digital Expand ETF Suite With Metaverse Offerings
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Stakes - $5.3M Unknown Round
Syndicate - $6M Unknown Round
Decrypt - $10M Unknown Round
MYSO - $2.4M Seed Round
Americana - $6.9M Seed Round
T.E.A.M DAO - $5M Series A
Venly - $21M Series A
⚖️Regulatory Update
EU Commission Report Suggests Rethink of Regulatory Approach to DeFi
Hester Peirce Knocks SEC’s Plans to Add to Crypto Enforcement Staff
Michael Saylor, Jack Dorsey Defending BTC Mining in Letter to EPA
India Includes Crypto Businesses in New Rules for Cyber Security
📚Noteworthy Reads
Pantera Capital’s Read on The First Truly Global Global Macro Trade
David Duong’s Read on Hype Cycles
Pothu’s Thread on How to Make the Most of a Bear Market
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.