👩💻Spartan Group's $100M Crypto Venture Studio - TWJ #106
Spray-and-pray-only funds will no longer be competitive.
In today’s issue:
The crypto market is flat with the total market cap sitting at ~$1.7-1.8 trillion. THORChain (RUNE) continues to be one of the best performers in the past 7-d amongst the top 100 assets. The Fed raised interest rates by 25 bps for the first time since 2018.
In other news, Binance won Dubai crypto license, Spartan Group launches a $100M web 3.0 venture building studio, and AAVE set to launch its version 3.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Binance Won Dubai Crypto License
The world’s largest crypto exchange has received a virtual asset license in Dubai. The move came as the gulf region is gearing up to become a crypto industry powerhouse, attracting businesses to incorporate in the regions.
In a release, Binance said that this means it will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers.
⎆Spartan Group $100M Venture Studio
One of Asia’s most prominent crypto funds, Spartan Group, has announced the launch of its web 3.0 venture studio with $100M in funding. The new division would be led by Shaun Heng, a former VP of Growth and Ops at Coinmarketcap.
⎆AAVE Set to Launch Its Version 3
DeFi lending pioneer AAVE is set to launch version 3 of the protocol. It will be available across six networks: Polygon, Fantom, Avalanche, Arbitrum, Optimism, and Harmony. Projects out there are already stating that they’ll add support for the upcoming v3, including ParaSwap, 1inch, Debank, and others.
According to the announcement, Aave V3 comes with a few enhancements including cross-chain asset flow compatibility and gas optimization. This will make it easier for Aave users to move their assets between different blockchains and will make transactions cheaper where possible.
👨🏻💻Decentralized Finance (DeFi)
Ethereum’s Passes Major Test in Shift to Proof of Stake
Aave Launches v3 Liquidity Pool
SUSHI Launching Trident Phase 1
Synthetix Perpetual Futures Will Launch Later this Week
Brahma Protected Moonshots DegenVault is Now Live
MonoX 2.0 is Live!
ClayStack Live in Polygon
Alpha Homora v2 is Live in Fantom
🏛Governance - Active Proposals
Babylon Finance - BIP-14: 🌊 Increase BABL Liquidity
Compound - Lower Proposal Threshold to 25K COMP
PoolTogether - PTIP-62: Grants Committee Funding (Q4)
Radicle - Radicle Ecosystem Growth Fund [EGF] - Start Funding
🦮NFT & Metaverse
HSBC Enters The Sandbox to Offer Educational Finance Games
NFTs Liberate Imagination: The Gender Gap that Needs to be Addressed
Ape Coin for BAYC, MAYC, BAKC Holders
Galaxy Interactive, Republic, Alameda Team Up for Web3 Gaming Investments
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Treehouse - $18M Seed Round
Oxio - $40M Series B
Luno - $15-$75M Investment Arm
Spartan Labs - $100M Web3 Venture-Building Studio
⚖️Regulatory Update
Ukraine Signs Virtual Assets Bill Into Law, Legalizing Crypto
Binance's Middle East Progress Continues With Operating License in Dubai
Argentina Plans To Tighten Regulation Of Crypto Firms
📚Noteworthy Reads
Sahil Bloom’s Thread on VIX
Jules Walter’s Read on How to Develop Product Sense
Jeff Dorman’s Read on The “Aha Moment” for New Digital Asset Investors
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.