All Eyes on Upcoming CPI Data to Set Tone for Markets
plus Genesis/DCG developments, Canada USDT FUD, and more layoffs
Daily Bullets - Wednesday, January 11th
A mix of interesting developments going into tomorrow’s CPI which should give a clearer idea of whether the recent bullish momentum will continue or not. Expect volatility! Genesis/DCG story continues developing, GALA backtracks major announcement, Canada USDT FUD, layoffs and hiring and the comically bad Game of Thrones NFT collection art.
We want your feedback! If you read or have read our daily and weekly newsletter, it'd be great if you could please share some feedback with us. We're looking to improve it for you.
Google form: https://forms.gle/WjvjBHBcRALZyxo39
Daily Bullet Highlights
Gemini is terminating customer loan agreements with Genesis Global Capital as it winds down its Earn program
Bitvavo, a Dutch crypto trading platform, rejects offer from DCG to repay 70% of its debt arguing that DCG has enough funds available for full repayment
Judge allows Binance US bid to buy bankrupt crypto lender Voyager's assets to advance. The sale will allow customers to recoup 51% of the value of their deposits
FTX has recovered more than $5B in different assets, not including another $425M in crypto held by the Securities Commission of the Bahamas
Twitter developing a new feature that will allow users to give each other “Awards” using “Coins” that can be purchased with fiat currency using Stripe
ConsenSys, the developer of the crypto wallet MetaMask, plans to lay off 100 staffers or more
Binance CEO plans to continue to scale in 2023, with headcount growth goals of between 15% and 30%
Crypto.com delisting USDT from its trading platform for users in Canada after the Canadian Securities Administrators committed to stronger oversight following the FTX collapse
Game of Thrones’ NFT launch sold out despite delays and art faces criticism
Wild Wednesday: A feature on unpredictable and volatile events
An announcement earlier in the week by Gala Games for a partnership with Hollywood stars Dwayne "The Rock" Johnson and Mark Wahlberg caused Gala to pump but now that the tweet has been deleted, the coin’s price dumped.
This highlights how wild and volatile catalysts can behave and the risks of trading news based events.
Crypto News
Arbitrum and Optimism transactions now exceed Ethereum
Web3 accelerator Beacon, created by Polygon co-founder Sandeep Nailwal, has wrapped up its first cohort with 13 graduating companies
Goldman Sachs new Digital Asset Platform, GS DAP™, is live– one year into their engagement of Digital Asset
MicroStrategy sold 1,261,744 of its shares, a 13.5% stake, to Group One, a trading firm specializing in options trading
Ark Invest's make a $1.45M COIN stock purchase marking the firm's eleventh buy in less than a month
Scallop, a regulated on-chain banking app, has integrated Chainlink Automation on the BNB Chain mainnet
Gitcoin Alpha Round starting Janurary 17th - a Quadratic Funding round that will support three rounds, 200 grantees, and a $1M total matching pool
Crypto Exchanges
Binance acknowledged that its Binance-peg BUSD stablecoin hasn't always been backed fully with reserves, but has now fixed the problem
Robinhood issued an email to users stating that it has decided to end support for Bitcoin SV (BSV) on January 25
Coinbase Global Inc. is closing the bulk of its operations in Japan
Binance wins seventh approval in Europe with Swedish Regulator. Follows those in France, Italy, Lithuania, Spain, Cyprus and Poland
DeFi
Ondo Finance, a DeFi firm offering decentralized investment opportunities, has launched tokenized versions of U.S. treasuries and bonds with over 8% yield on stablecoins
NFTs/Gaming/Metaverse
Art Blocks Friendship Bracelet NFT Collection - free to mint for holders of existing Art Blocks NFTs - 7,437 ETH volume in first 24H
Axie Infinity: Origins Season 2. New gameplay. New rewards
Hardware wallet company Ledger is adding a blockchain game, Cometh Battle, to its Ledger Live app
Early Stage Projects
Decentralized social media protocol Lens Protocol released a new feature called “token-gated publications”
BitDAO launched testnet for its modular ETH Layer 2 network project - Mantle. 37,000 developers signed up for the launch
Holograph, which creates multichain digital assets, is live on the Ethereum, Polygon, & Avalanche mainnets
DeltaPrime launches a new native undercollateralized borrowing protocol on Avalanche
MYSO v1 protocol officially live on Ethereum Mainnet
GumBall Protocol is officially live on Arbitrum
Introducing Lumina Labs - new project to make Solana transactions more readable for everyday users
ETHx litepaper is live - Stader’s new LSD
Ajna whitepaper - a lending protocol with no governance, permissions or external price feeds (oracles)
Launch of Jupiter Terminal - an open-source and customizable swap UI
Economic/Government/Regulatory
BlockFi creditors have requested that their personal information remain secret while the U.S. Department of Justice argued that “disclosure is a basic premise of bankruptcy law”
Indian crypto exchange WazirX released its proof of reserves report and disclosed that 90% of its user assets are held in Binance wallets
Fundraises
Abu-Dhabi based Venom Foundation and Iceberg Capital are partnering to invest $1B in a host of web3 applications
Seidr receives seed round led by a16z to crafting the next generation of action packed, cross-platform multiplayer gaming experiences @seidrofficial
Quasar Finance, a decentralized asset management protocol using the IBC technology released by the Cosmos raised $5.4M at a $70M valuation. Led by Shima Capital. Investors: Polychain Capital, Blockchain Capital, HASH Capital, CIB and Osmosis co-founder Sunny Aggarwal - @QuasarFi
Jumbo, a DEX built on the NEAR Protocol, raised $3.5M led by Pantera and Huobi Incubator. Other Investors: DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital - @jumbo_exchange
TerraCVita raised $1M for Terraport DEX - @TerracVita
Research/Reads
Death and self-custody: How to pass on your crypto when you die - source
6 crypto investors talk about DeFi and the road ahead for adoption in 2023 - source
Introducing: Opt-In Programmable Royalties (and more) Through Staking by Limit Break - source
MEV: The Next Five Years - source
Governor Note: Usage-Based Governance with Sybil Resistance - source
Twitter
Arkham's primer on Liquid Staking Derivatives:
Twitter & Coins sneak peak:
Different NFT 2023 predictions:
