👨⚖️Voyager Digital Files for Bankruptcy - TWJ #180
The contagion from 3AC continues.
In today’s issue:
The crypto market is up with its total market cap at ~$800 billion. Evmos (EVMOS) is the best performer in the top 100 in the past 7-d. The USD is at its strongest level in almost 20 years.
In other news, Voyager Digital files for bankruptcy, Jason Choi-Daryl Wang launches a crypto angel collective, and Nexo signs a term sheet with Vauld.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Voyager Digital Files for Bankruptcy
Troubled crypto lender Voyager filed for Chapter 11 bankruptcy as it experiences contagion from 3AC. The firm reportedly has $1.3 billion in crypto assets with $650M claims against Three Arrows Capital.
⎆Jason Choi-Daryl Wang Launch a Crypto Angel Collective
Two former executives from notable Asia-based crypto funds, Jason Choi (formerly GP at Spartan Group) and Daryl Wang (formerly Principal at DeFiance Capital), launched a crypto angel collective named Tangent. Tangent's business model will work with 3-5 early-stage projects per quarter and won’t take any outside capital or charge any management fees.
⎆Nexo Signs a Term Sheet With Vauld
Crypto lender Nexo has reportedly signed a term sheet with a troubled rival firm, Vauld, to acquire up to 100% of Vauld’s assets. The deal will provide Nexo with a 60-day diligence period to finalize its decision.
👨🏻💻Decentralized Finance (DeFi)
MakerDAO RWA-009 Proposal, a $100M DAI Debt Ceiling Participation Facility Proposed by the Huntingdon Valley Bank
Celsius Repays $120 Million Stablecoin Debt to Maker Protocol
Porter Finance is Shutting Down its Bond Issuance Platform.
PancakeSwap Introduces Zap
UK Government Seeks Public Input on DeFi Taxation
Syndicate Live on Polygon
🏛Governance - Active Proposals
Compound - Return Accidentally Sent Funds #3
🦮NFT & Metaverse
Ethereum Name Service Registrations Spike 216% in One Week
GT Racing Team to Authenticate Car Parts Using NFTs
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
KoinX - $1.5M Seed Round
Qiibee - $4.8M Seed Round
Vauld - Undisclosed $ of Potential Acquisition by Nexo
Coinberry - Undisclosed $ Acquisition by WonderFi
Tulip Protocol - $500K Tulip Farmers Fund
⚖️Regulatory Update
Voyager Seeks Bankruptcy Protection Amid Crypto Credit Crisis
Rishi Sunak Resigns as UK Finance Minister
UK Financial Regulator Hires Former Police Officer to Head New Crypto Unit
Bank of England Panel Calls for Enhanced Crypto Regulation
Lummis Says Her Crypto Bill Leaves Most SEC Oversight Intact
Korea and US Agree to Share Investigation Data on Terra-Luna
Huobi Tech Subsidiary Is Granted US Money Transfer License
📚Noteworthy Reads
Romano RNR’s Read on Liquidity holes & Liquidity black holes
Joel John’s Read on Summary of State of Web3 Report by Chainalysis
Blockworks’s Thread on The Future of The Browser
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
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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.