Sushi Restructuring Proposal - The WAGMI Journal #37
Another DeFi governance historical moment.
In today’s issue:
The crypto market is down with the global market cap sitting slightly above ~$2.4 trillion. Sushi's (SUSHI) restructuring proposal is being discussed by the crypto community while Tezos (XTZ) led the top 100 by market cap assets performance due to its Ubisoft NFT partnership. Global markets are mixed as concerns about the Omicron variant reduce while concerns about the accelerated end to QE maintain.
In other news, Visa launches crypto advisory services, Fidelity teams up with Nexo to offer institutional products, and the Senate Banking Committee will conduct a hearing on stablecoins next week.
We’re continually improving our content, please reach out if you have any other ideas or would like us to recap a segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Visa Launches Crypto Advisory Services
Visa has launched a global crypto advisory service to aid financial institutions in developing their crypto business strategies. The firm will be focusing on banks, helping bridge the knowledge gap between traditional finance and the crypto ecosystem.
⎆Nexo Teams Up With Fidelity
Crypto lender Nexo has teamed up with Fidelity Digital Assets to offer more products for institutional investors. Crypto assets stored on Fidelity custody will have access to Nexo’s suite of products and prime brokerage services, which includes its flagship lending product. This is a great and brave move done by Fidelity amidst regulatory scrutiny towards crypto lending platforms.
⎆Senate Banking Committee to Hold Hearing on Stablecoins
The U.S. Senate's Banking, Housing, and Urban Affairs Committee will hold a hearing focused on stablecoins usage. The session will be streamed on the senate’s website and two Professors (Alexis Goldstein, Director of Financial Policy at the Open Markets Institute, and Professor Hilary J. Allen, American University Washington College of Law), will serve as witnesses (more may be added). Once again, it is frustrating not to have active industry participants -but academics instead- as witnesses during these hearings.
👨🏻💻Decentralized Finance (DeFi)
As Sushi Struggles, Arca Submits Restructuring Proposal
Enso Finance Plans Vampire Attack on Six Major Index Projects
Olympus Pro — Introducing Cohort 4 Launch Partners
Mirror Introduces Mirror Dashboard
Luna Vault Now Live on ThetaNuts
TerraUSD (UST) Adoption Backs LUNA’s Ascension to a New All-time High
Former Google CEO is Now a Strategic Advisor for Chainlink Labs
Three Arrows Capital Snaps Up $400M in ETH
Ambire Launches $WALLET, Governance Token For DeFi-Native Wallet
🏛Governance - Active Proposals
Gitcoin - dCompass Q4 Budget request
Fei - FIP-55: PCV Guardian
Babylon Finance - BIP-5: Garden Seed Program
🦮NFT & Metaverse
DappRadar: The Metaverse May be an Old Idea But It’s Just Getting Started
Ubisoft Becomes First Major Gaming Company to Launch In-Game NFTs
Tezos Price Jumps 37% After Ubisoft Reveals NFT Launch on Its Network
Rarible Plots Multi-Chain NFT Future With Ethereum, Flow, Tezos and More
DraftKings Marketplace Plans to Launch Gamified NFT Collection
Deus Ex Anima: This AR Startup Aims to Launch NFTs Into Space
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
JellyFi - $4.4M Seed Round
TRM Labs - $60M Series B
Lydia - $100M Series C
10T Holdings - Seeking $500M in New Fund
Silvergate Bank - $461M in Public Stock Offering
⚖️Regulatory Update
Senate Banking Committee to Hold Hearing on Stablecoins
CFTC Commissioner: US Regulators Should Issue Clear Guidance Before Punishing Crypto Firms
Regulators’ Stablecoin Report Met With Bipartisan Pushback
OCC Nominee Omarova Withdraws From Bank Regulator Consideration
CIA Director Says Agency Currently Has ‘a Number of Different Projects’ Focused on Crypto
Fidelity Digital Assets Receives FCA Approval for Its UK Crypto Business
Central Bank Tells Thai Banks Not to Offer Crypto Trading
Australia Set for Massive Shakeup to Crypto Regulations
📚Noteworthy Reads
QCP Capital’s Thread on The Violent Sell-off on Saturday
Youssef Amrani’s Thread on Cosmos
Alex Beckett’s Thread on A Summary of The Ethereum Sharding Roadmap
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. Writers, authors, and contributors of The WAGMI Journal may hold any assets mentioned in the issue.