💸Multicoin Capital $430M Venture Fund III - TWJ #184
The fund is famous for backing Solana early.
In today’s issue:
The crypto market is down with its total market cap at ~$800 billion. Quant (QUANT) is the best performer in the top 100 in the past 7-d. CPI figure will be out tomorrow with expectations set around 8.8% compared to last month's 8.6%.
In other news, Multicoin Capital raises $430M for Venture Fund III, Celsius takes out $417M in stETH from AAVE, and Mysten Labs seeks a $2 billion valuation.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Multicoin Capital Raises $430M for Venture Fund III
The venture fund famous for backing Solana has raised $430M for its third venture fund. The fund co-founded by Kyle Samani and Tusha Jains will write checks in the range of $500,000 to $25M for early-stage projects and up to $100M for late-stage projects.
Troubled crypto hedge fund Three Arrows Capital (3AC) was an investor in one of Multicoin's funds, but Samani said 3AC's situation has "absolutely no impact on us."
⎆Celsius Takes Out $417M in Steth From Aave
Troubled crypto lender Celsis has reclaimed 400,000 of its staked ETH deposit on Aave.
This is according to on-chain data gathered from wallets that are widely believed to be owned by the lending company. In this case, the wallet in question is marked by Ethereum block explorer Etherscan as "Celsius Network: Wallet 11." It tracks 24 addresses that are attributed to the company.
⎆Mysten Labs Seeks a $2 Billion Valuation
Mysten Labs, a crypto startup founded by former Meta execs seeks to raise $2 billion. The firm plans t build a new blockchain for web 3.0 apps and has previously raised $36M for its series A led by a16z.
Talks around the funding round are ongoing, and according to the outlet, the $2 billion valuation is subject to change based on whether equity investors "receive additional warrants giving them the right to buy tokens that would work with its blockchains, as well as the strike price to exercise those options, one of the people cautioned."
👨🏻💻Decentralized Finance (DeFi)
Arbitrum Introduces Arbitrum Nova
Earndrop is Live
Uniswap V3 Phishing Exploit
Dune Adds Abritrum
Tokensoft Launches Web-3-Enabled Platform
Mysten Labs Aiming for $2B Valuation in Latest Funding: Report
Terra Projects Begin Moving to Polygon 2 Months After UST Debacle
Celsius Transfers $124 Million in Wrapped Bitcoin from Aave
🏛Governance - Active Proposals
Ampleforth - Set Proposal Threshold to 75k (current contract minimum)
ENS - Funding True Names Ltd
Uniswap - Optimism 1bp Fee Tier
🦮NFT & Metaverse
Playboy to Launch First 'MetaMansion' in The Sandbox
GameStop Releases Public Beta NFT Marketplace
Man City Inks Deal with OKX
Axie Infinity NFT Sales Rising Amid 'Play-and-Earn' Transition
Metaverse Tokens Slump Amid Broader Crypto Market Correction
Magic Eden Launches Gaming Venture Arm
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Li.Fi - $5.5M Unknown Round
MetaWorld - $30M Unknown Round
BR1 Game - $3M Seed Round
Minteed - $3.01M Seed Round
Change - $5M Seed Round
Animoca Brands - $75M Unknown Round
Gnosis Safe - $100M Strategic Round
Protagonist - $100M Crypto Fund
Lightspeed Faction - $325M Crypto Fund
Multicoin Capital - $430M Venture Fund III
⚖️Regulatory Update
IOSCO to Focus on Global DeFi, Crypto Rules
BIS Calls for Global Collaboration With CBDC Designs
France Starts Second Stage of Wholesale CBDC Experiments
US Trademark and Copyright Offices to Study Ip Impact of NFTs
📚Noteworthy Reads
Hide Not Slide’s Read on FTX: A Defining Dilemma
QCP Capital’s Thread on Market Update for 12 July 2022
Kyle’s Read on Why You Should Be Long Crypto - A Thesis
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, or any other form of advice.