🧪Sei Network Raise $5M for a New L1 - TWJ #221
The DeFi-focused L1 is gaining traction from market makers.
Hi folks,
Pensive Pragmatism is ongoing a massive revamp into more serious media operations. I’ve always enjoyed creating content and I found fulfillment in knowing that some people do want to hear what I need to say about crypto, so I’m doubling down. I’m taking a break this week to prepare, but I would like to share a piece that I wrote back in September 2020 — which means that 99% of you haven’t read it.
This piece focused much more on the broader gaming industry rather than crypto gaming specifically. That said, I do hope that it can provide you with more context as to why the gaming industry is a very important space for the future.
No quick takeaways since it’s an old post :)
In today’s issue:
The crypto market is down with its total market cap above ~$900 billion. Helium (HNT) has been the best performer in the top 100 in the past 7-d.
In other news, Sei Labs raise $5M for a new L1, Arbitrum Nitro upgrade, and California passes its crypto oversight bill.
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
⎆Sei Labs Raise $5M for a New L1
A new DeFi-focused L1 blockchain founded by former Goldman and Robinhood veterans has raised $5M from multiple market makers including Flow Traders and GSR. Notable names in the crypto investing space have also participated in the round, including Coinbase Ventures, Delphi Digital, Multicoin Capital, and Tangent.
⎆Arbitrum Nitro Upgrade
The leader in L2 scaling solution, Arbitrum One, has started its upgrade to Arbitrum Nitro — the upgrade will reduce transaction costs and increase EVM compatibility
⎆California Passes Its Crypto Oversight Bill
The bill will require crypto financial-service businesses to get a special license. On Tuesday, the Assembly will vote to approve it. It currently heads to Gavin Newsom's desk, who has until September 30 to either sign or veto the bill.
👨🏻💻Decentralized Finance (DeFi)
Arbitrum One to Nitro Upgrade=
crvUSD is Likely to be Launched Next Month
Zeta: $ETH & $BTC Options & Futures are Live
Apollo DAO’s Launches Liquid Staking Solution for Cosmos
DeFi Saver Launches Trailing Stop
🏛Governance - Active Proposals
Gitcoin - Withdraw $10MM of GTC to diversify our treasury and increase governance partners
Gitcoin - MMM S15 Budget Proposal
🦮NFT & Metaverse
Free-to-Own GameFi Model is ‘High Risk,’ according to CZ
OpenSea Adds Polygon Support to Expand Features, Accept MATIC
Bored Ape, Doodles, and Other NFTs Star in ‘Real World’ Metaverse Parody Show
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Luabase - $4.5M Unknown Round
Sei Labs - $5M Unknown Round
Xterio - $40M Unknown Round
GoGoPool - $5M Seed Round
Koop - $5M Seed Round
Stacked - $12.9M Series A
⚖️Regulatory Update
California Assembly Passes Crypto Regulation Bill
FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins
District of Columbia Suing MicroStrategy Founder Michael Saylor
Kyle Roche Withdraws From Tether, Bitfinex, TRON and BitMEX Lawsuits
British National Accused in OneCoin Scam Set to Face US Extradition: Report
📚Noteworthy Reads
Easonw.eth’s Read on How Sudoswap is Disrupting NFT Marketplaces
The TIE’s Read on MEV: An Intro to Value Extraction
Mason Nystrom’s Thread on Wallet to Wallet Messaging
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.