📜SEC Could Tailor Disclosures for Crypto Firms - TWJ #187
A rare positive sentiment from the US regulator.
In today’s issue:
The crypto market is flat with its total market cap at ~$800 billion. Quant (QNT) is the best performer in the top 100 in the past 7-d. Biden is set to leave for the Middle East with no public announcement regarding oil supply.
In other news, SEC could tailor disclosures for crypto firms, Circle discloses $55.7 billion in cash, and OpenSea lays off 20% of its team.
We’re continually improving our content, please reach out if you have ideas or want us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆SEC Could Tailor Disclosures for Crypto Firms
The US regulator stated that it might tailor disclosures to suit crypto companies.
“I've said to the industry, to the lending platforms, to the trading platforms, come in, talk to us. We do have robust authorities from Congress, also, to use our exemptive authority so that we can tailor investor protection,”
“Even tailoring what the disclosures might be, because maybe not all of the disclosures for somebody issuing equity are the same as a crypto token. But I would note we don't have the same disclosures for an asset-backed security that we do for a stock offering,”
⎆Circle Discloses $55.7 Billion in Cash
The issuer of the USDC stablecoin released its monthly report detailing the types of asssets it currently hold in reserves. It shows $55.7 billion in cash and 3-month US Treasury securities as of June 2022
⎆OpenSea Lays off 20% Of Its Team
One of the world’s largest NFT markets become another one of the latest crypto firms that announced a layoff. CEO Devin Finzer took it to Twitter to explain the situation. There are approximately 230 employees left at the company.
👨🏻💻Decentralized Finance (DeFi)
Uniswap Live on Celo
Celo Network Outage
Ethereum Deploys Latest Shadow Fork
Uniswap Token Rallies After Being Added to Robinhood
Maker Financial Report
Shell v2 is Launching on Arbitrum
SpookySwap Farm V2 Migration Announcement
Swim Protocol Live on Karura
SyncSwap Testnet is Live
Braavos Live on StarkNet Mainnet
BNB Chain Launches dApp Aggregator Platform with Anti-scam Alarm
Atlendis Opens a Borrower Pool for Wintermute
JokeDAO is Live
Cowfund is Live
KYVE’s Sixth Protocol Update is Live
🏛Governance - Active Proposals
🦮NFT & Metaverse
Bill Murray's Biographical NFT Project Set to be Premiered by Coinbase
Kevin Rose’s PROOF Acquires Ethereum NFT Team Divergence
OpenSea Lays Off 20% of Its Staff to Prepare for 'Prolonged Downturn'
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
DRAUP - $1.5M Pre-seed Round
DaoLens - $5M Pre-seed Round
ZKX - $4.5M Seed Round
Hologram - $6.5M Seed Round
Arkive - $9.7M Seed Round
Inflection Points - $12.6M Series A
Hang - $16M Series A
UnCaged Studios - $24M Series A
5ire - $100M Series A
Divergence - Undisclosed $ of Acquisition by PROOF
⚖️Regulatory Update
Digital Euro Would Be a Success Only if Widely Used, ECB Says
India's Crypto Industry Advocacy Body Disbanded
OKX Secures License in Dubai and Plans to Open Regional Hub
3AC Liquidators Ask Singapore Court to Recognize Company's BVI Bankruptcy
Aussie FPA Supports ‘Crypto Rule Book’ and Regulation of Exchanges
📚Noteworthy Reads
John Wang’s Thread on StarkNet vs Optimism Comparison
Pantera Capital’s Read on DeFi Worked Great
Michael Dempsey’s Read on Talent Problems with The Metaverse & Inevitability
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.