Meta (FB) Eases Crypto Ads Rule - The WAGMI Journal #33
Social media giants are rapidly expanding into crypto.
In today’s issue:
The crypto market is down with the global market cap sitting slightly above $2.7 trillion. Both crypto and global market are relatively choppy as countries are acting with excess caution despite initial data indicating that the Omicron variant is not deadlier than previous strains.
In other news, Meta (Facebook) eases its rules on crypto advertisements, Square changes its name to Block, and crypto executives will face house lawmakers on December 8.
Credits to Blockworks for the great meme.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Meta Expands Advertising Options for Crypto
Having previously restricted crypto advertisements on its platforms, Meta (or previously known as Facebook), is making it easier for companies to run crypto-related ads as the regulatory landscape matures. Exchanges or crypto wallets can now directly advertise on Meta’s platforms if they have one of the 27 eligible licenses. Ironically, this change came in a few days after David Marcus -who previously led FB’s efforts to create a stablecoin- stated that he is leaving the company.
⎆Square Changes Name to Block
A few days after leaving his part-time (see: Prof G. article) at Twitter, Dorsey decided that it is appropriate to change Square's name to Block to be more aligned with his vision of Web 3.0. The firm has been known to tinker with crypto-related ideas such as a decentralized exchange having benefitted greatly from providing crypto buying-and-selling services on its CashApp. Now, Block represents a family of companies including Square, CashApp, SpiralBTC, Tidal, and @TBD54566975 (code name for the decentralized exchange).
⎆Crypto Executives to Face House Lawmakers
The House Financial Services Committee is conducting a hearing on December 8 on the “challenges of financial innovation”. Representatives from notable crypto firms such as FTX, Paxos, Coinbase, Circle, and Stellar will testify. As the crypto market is approaching $3 trillion in market cap, governments around the world are ramping up their efforts to regulate crypto. Expect more of these, especially as traditional web 2.0 tech giants get more into crypto.
👨🏻💻Decentralized Finance (DeFi)
Push to Launch Layer 2 Liquidity Mining on Uniswap Gains Steam
Surging Ether Hits 42-month High Against BTC
Polygon’s Expanding Ecosystem Backs MATIC’s Rise Toward a New ATH
IDEX to Launch Hybrid Liquidity Decentralized Exchange on Polygon
Element Finance Launches Yield Token Compounding (YTC)
Badger DAO Protocol Suffers $10M Exploit
21Shares to List Europe’s First Polygon ETP in Paris, Amsterdam
🏛Governance - Active Proposals
PoolTogether - PTIP-48: Grants Committee Funding (Season 2)
Gitcoin - dCompass Q4 Budget request
🦮NFT & Metaverse
Silk Road Founder Ross Ulbricht to Launch NFT Collection on Ethereum
CloneX NFTs Sell Out in Auction Roiled by Attacks and Controversy
Tezos-Based NFT Platform OneOf Inks Pitbull to Multiyear Deal
FTX.US Adds Ethereum Collectibles to NFT Marketplace
$106M worth of Metaverse land sold last week: DappRadar
Hologram NFTs at Art Basel Miami Are Trying to Save the Oceans
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Solice - $4.3M Unknown Round
Structure - $20M Seed Round
CertiK - $80M Series B2 Round
AAG Ventures - $12.5M for P2E Guilds
Hashed - $200M Venture Fund
SeSocio - Undisclosed Amount Acquisition by Blockchain.com
Seedrs - $100M Acquisition by Republic
⚖️Regulatory Update
Sen. Lummis Likely to Oppose Powell’s Fed Nomination on Crypto Grounds
Crypto CEOs to Testify Before House Financial Services Committee
Gensler, Clayton Contend That Crypto Regulatory Challenges Will Abate as The Industry Consolidates
Canadian Crypto Exchange Bitbuy Secures Regulatory Approval
📚Noteworthy Reads
John Street Capital’s Market Update Thread
rwx’s Read on Thoughts as a Collector
A Thread on Crypto House Money Effect
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, and any other forms of advice. Writers, authors, and contributors of The WAGMI Journal may hold any assets mentioned in the issue.