🏛️UAE Readies Crypto License - TWJ #86
The gulf nation knows how to follow the money.
In today’s issue:
The crypto market is flat with the global market cap sitting at ~$1.9-2 trillion. JUNO led the top 100 past 24-h performance. Global markets fell while investors are waiting for further clarity regarding the Russia-Ukraine situation.
In other news, UAE plans crypto license by end of Q1, US crypto firms work together to meet AML rule, and Castle Island Ventures launched its third fund.
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
⎆UAE Plans Crypto Licenses
The United Arab Emirates stated that it’s ready to launch federal licenses for virtual asset service providers (VASPs) by the end of Q1 2022. The goal is obviously to attract the world’s biggest crypto companies; some of the largest crypto firms in the world such as Binance are considering a bigger presence in the UAE.
⎆US Crypto AML Rule
A coalition of US-based crypto firms is collaborating to find a solution that can comply with the updated US AML rule. Members of the coalition include Anchorage, Avanti, Bitgo, bitFlyer, Bittrex, BlockFi, Circle, Coinbase, Fidelity Digital AssetsSM, Gemini, Kraken, Paxos, Robinhood, Standard Custody & Trust, Symbridge, Tradestation, Zero Hash and Zodia Custody make up the founding members.
⎆Castle Island Venture Fund III
The venture fund led by Nic Carter has just raised $250M for its third fund. Castle Island Venture has previously raised two smaller-sized venture funds ($30M and $50M). The new fund will be focusing on the “convergence of blockchains and the more regulated financial services market”. The firm also promoted Ria Bhutoria to General Partner, joining Carter, Walsh, and Sean Judge.
👨🏻💻Decentralized Finance (DeFi)
Chainlink Verifiable Random Function v2 Goes Live
BofA Says Chainlink Likely Driver for DeFi’s TVL Growth to $203B
Solana Data is now LIVE on Dune
$PSTAKE, is Going Live on February 24th, 2022
BENQI's Liquid Staking Protocol on Avalanche
Twitter Adds Ethereum Wallet Support to Tipping Feature
🏛Governance - Active Proposals
Babylon Finance - BIP-11: Heart Bonding Program
PoolTogether - PTIP-55: Extend Pool Emissions
🦮NFT & Metaverse
YGG-Backed Oasys Blockchain Hopes to Take P2E Gaming Mainstream
NFT Marketplace, x2y2, Begins Vampire Attack on OpenSea
L’Oréal Eyes NFTs and the Metaverse, Filing for 17 Trademarks
European Soccer's Governing Body Signs Up Socios.com as Token Partner
Snoop Dogg Plans to Turn Death Row Records Into the First NFT Music Label
Disney Hires Mike White to Lean into Metaverse Efforts
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Housecat - $3.4M Unknown Round
3Box Labs - $30M Unknown Round
Castle Island Ventures - $250M Third Crypto Fund
Stronghold Capital - $100M Fintech and Web3 Fund
ByBit - $150M Sponsorship Deal with Red Bull for 3 Years
First Digital- Undisclosed $ of Acquisition by FireBlocks
⚖️Regulatory Update
UAE to Issue Crypto Licenses in Bid to Become Industry Hub
Bipartisan Senate Proposal Raises Alarm Over El Salvador's Bitcoin Adoption
Canada Sanctions 34 Crypto Wallets Tied to Trucker 'Freedom Convoy'
Colorado to Accept Crypto for Tax Payments
Bank of Russia Proceeds With Digital Ruble, Renews Push for Crypto Ban
Chainalysis Says ‘Criminal Whales' Account for 4% of the Overall Pod
FCA Concerned Over Binance Gaining Access to UK Payment Network
Minutes Show Fed Ready to Take Action, Mentions Crypto and Stablecoin Risks
Binance Halts Activities in Israel Following Regulator Intervention
📚Noteworthy Reads
Nat Eliason’s Read on Tokenomics 101: The Basics of Evaluating Cryptocurrencies
Hans Hauge’s Read on Whales and Retails
Jordi Alexander’s Thread on Fundamental Price of BTC
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.