Robinhood Crypto Wallet 1M Waitlist - The WAGMI Journal #5
Onboarding millions more to the web 3.0 ecosystem
In today’s issue:
The market retraces back down with BTC sitting at ~$60,000 and ETH at ~$4,000. Large-cap altcoins continue to perform well primarily the layer 1 tokens such as SOL, FTM, and LUNA. Additionally, Robinhood crypto wallet supposedly already has 1 million waiting customers who are eager to take more control over their digital assets instead of simply getting exposure to its price-performance via an app — oh, and Worldcoin isn’t even worth the energy to elaborate on, but here’s the link if you’re curious.
Based on our readers’ suggestions, we plan to add:
a section tracking top projects (primarily DeFi) governance proposals/activities
a section showing open interest and other trading-related metrics 24-h changes
a section showing newly released projects
Please reach out if you have any other ideas or would like us to recap a segment of the market on a daily basis.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Robinhood Crypto Wallet Waitlist Tops 1 Million Users
After announcing its intention to test a crypto wallet feature last month, Robinhood has made significant progress and announced that there are more than 1 million customers who are already on the waitlist. Despite whatever one thinks about Robinhood, this is a net good development for the crypto ecosystem as it provides millions of users with the ability to directly take control over their digital assets, potentially exposing millions of people to DeFi applications, NFT minting mechanism, and many more. This will also position Robinhood as a more direct competitor to Coinbase.
⎆First Bitcoin ETF in Danger of Breaching a Limit on Futures Contracts
A few days after the launch, the first US-based BTC futures ETF is on track to breach the number of maximum contracts it is permitted to hold by the CME. Data from Bloomberg showed that BITO owns close to 1,900 contracts (the limit is 2,000). To solve this issue, BITO is currently spreading its holdings into longer-dated contracts, further increasing the risk of distancing the fund performance to spot BTC performance.
⎆FATF Has Finalized Its Crypto Guidance
As crypto becomes more mainstream, regulators are paying increasing attention. The global AML entity has said to finish its crypto guidance, which will be published next week on October 28. FATF President clarified that the guidance has not amended any VASP related standards but simply provides more detailed information on how private sectors and countries can work together to implement the existing standards.
👨🏻💻Decentralized Finance (DeFi)
A16Z-Backed Blockchain NEAR Gets $350 Million Grants Vehicle for DeFi
Dune Integrates With Binance Smart Chain
Alpha Homora V2 Launches on Avalanche
Proposal to Burn 90M LUNA Next Week
Introducing BEP-95 With a Real-Time Burning Mechanism
Associated Press Taps Chainlink for Elections, Sports Data
Fintech App Current Taps Coinbase’s Bison Trails to Support Polkadot DeFi Plans
🦮NFT & Metaverse
Reddit Building NFT Marketplace to Join Ethereum Token Rewards
That Tungsten Company is Auctioning Its Largest-Ever Cube as an NFT
Art And Ecology Meet At International Contemporary Art Fair, With House Guerlain’s “Green” NFT Collection
The Weeknd Joins Tom Brady's NFT Platform Autograph
Every Spectator in a Section of FTX Arena Handed $500 in Crypto
Germany’s World Wildlife Fund to Sell NFTs to Raise Money For Endangered Species
The Economist Magazine Plans to Sell Its DeFi Front Cover as an NFT
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
MADworld - $6M Unknown Round
Mojito - $20M Unknown Round
Parallel - $50M Unknown Round
Timeswap - [Unknown Amount] Seed Round
Colony - $1M Seed Round
Numbers Protocol - $6M Seed Round
zkLink - $8.M Seed Round
XanPool - $27M Series A
OliveX (BVI) - $1.7M Strategic Round
Synchrony Finance - $4.2M Strategic Funding
⚖️Regulatory Update
Treasury Official Acknowledges Most Crypto Transactions Are ‘Legitimate’ but Still Anticipates Additional Sanctions
Facebook, Square, PayPal, and Others Told to Hand Over Payments Info to Consumer Finance Watchdog
FATF Will Finally Publish Crypto Anti-Money Laundering Guidance Next Week
India’s Securities Regulator Warns Advisers Against Dealing in Unregulated Assets
📚Noteworthy Reads
For the first week (and maybe a few after), this newsletter is intended for friends and family as we’re sharpening our value offering and content.
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.