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Alpaca Finance Institutional Newsletter #4
https://medium.com/alpaca-finance/alpaca-finance-institutional-newsletter-4-79dbbfd6fe2b…
#DeFi #Web3 #BNB #Binance #BSC #crypto #cryptocurrency
Pete
Alpaca Finance Institutional Newsletter #4
Large corporations continue their push into various sectors of Web 3, but the question of market readiness persists. One major event was the NBA launching NFT fantasy-based football with Sorare, which many will be observing as a real-time case study to understand if NFTs will continue to scale as a value add to sports markets.
Another event of note was LG tapping Hedera for an NFT marketplace instead of Ethereum, which raised eyebrows but arguably makes sense for them.
Yet, as the people do their busy-work on the ground, the sky overhead grows ever more cloudy. Last week’s regulatory pressure is progressing, with exchanges under continued pressure from local authorities. It does not seem to be scaring off sizeable deal flow, however. Major L1 fundraising rounds from Aptos and now Mysten Labs, have the crypto industry on tenterhooks to see where they will find traction and if they are following the Solana playbook.
News
- Binance, Issuer of Third-Biggest Stablecoin, to Stop Supporting Larger Rival USDC
- 3 Senior Executives Jump From Crypto Lender BlockFi
- Blockchain Australia Lands Former BlackRock Director as New CEO
- Crypto Exchange Binance Hires Former Brazilian Central Bank President as Adviser
Regulation
- Crypto Exchange Bybit Barred From Brokering Securities in Brazil
- Thai SEC Files Police Complaint Against Crypto Exchange Zipmex
- Canadian Crypto Exchange Coinberry Files Lawsuit Against 50 Users After Losing 120 BTC
- Fed Vice Chair Brainard Calls for Crypto-Specific Regulations, Notes Stablecoin Risks
Products
- LG Shuns Ethereum, Picks Hedera for Television NFTs
- NBA to Develop NFT-Based Fantasy Basketball Game With Sorare
- Investment Management Giant Franklin Templeton to Offer Digital Asset Strategies to Wealth Managers
- There’s a New Platform for Bitcoin-Backed Borrowing and It’s Courting Banks to Lend
Funding
- Crypto Investment-Product Firm 21Shares’ Parent Raises $25M, Pushing Valuation to $2B
- Crypto Startup Mysten Labs Raises $300M From Industry Heavyweights at $2B Valuation
- Crypto Startup Slide Raises $12.3M to Connect New Users to Web3 Apps
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