3AC Founders Want $25M for New Exchange GTX
Shibarium Beta Launch, Visa and Alchemy Pay, Justin Tron to Save DCG?
Daily Bullets - Monday, January 16th
Market has cooled this week with Bitcoin and ETH taking a breather from last week’s pump. Will the market hold? If the market can stay stable, then narrative and catalyst traders should be in for some fun. If not, then we get the floor pulled out from underneath us. In completely expected news, disgraced 3AC co-founders are back trying to raise money for their new crypto exchange. This should’ve been obvious with how they spent the past couple months trying to slither back into the good graces of CT amidst the fall of FTX. Unironically, they’ll probably get their redemption arc. CT loves its fallen heroes and has the memory of a goldfish.
Daily Bullet Highlights:
- Su Zhu and Kyle Davies, the founders of 3AC, along with CoinFLEX co-founders Mark Lamb and Sudhu Arumugamaim aim to raise $25M to start a new crypto exchange called GTX
- Shiba Inu will soon launch a beta for its planned Ethereum Layer 2 network called Shibarium with Bone tokens used for transaction fees
- Justin Sun considering buying up to $1B of Digital Currency Group’s assets
- North Korea’s Lazarus Group moved $63.5M (~41,000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing on three different exchanges
- Skybridge founder Anthony Scaramucci is investing in a company set up by Brett Harrison, the former president of defunct cryptocurrency exchange FTX US
- Visa listed Alchemy Pay as an Official Service Provider
- Bitcoin data is live on Dune
- New Avalanche app for Ledger devices and Ledger Live
Looking at what’s been moving over the past week with volume:
- Metaverse coins such as Mana and Sand following Gala’s pump last week
- Solana coins such as STEPN, Serum, Raydium, Orca - Solana resurgence?
- Aptos saw some large moves as well
- AI coins such as SingularityNET and Fetch.ai
What will the next rotation be if the market can hold?
- Hardfork for Polygon PoS chain will make key upgrades to the network on Jan 17th
- Cardano will release a software toolkit later this month that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem
- Bithumb ordered to pay $200,000 in damages to more than a hundred investors over an exchange outage during Bitcoin's rally in 2017
- Korbit exchange plans to monitor the accounts of its employees and their family members in a bid to improve internal control standards
- Binance will support the Gifto (GTO) token swap to Gifto (GFT)
- Astra Protocol (ASTRA) and MAGIC listed on KuCoin
- Avalanche will support the stablecoin USP created by Platypus DeFi
- Uniswap proposal to deploy Uniswap V3 on the StarkNet network, as well as the new problems faced by its deployment on the first non-EVM network
- DeFi protocol Frontier started an in-browser wallet extension that allows crypto users to interact with staking, transactional, and NFT activities over 35 supported blockchains
- South Korea’s Woori Bank launches 3D Metaverse banking experience
Early Stage Projects:
- STFX Token Sale is live
- Introducing Radiant v2
- Binance Labs and BNB Chain Launch Season 6 of MVB Accelerator Program
- Bittensor wins Polkadot's 36th auction
- Mars Hub testnet goes live; $100,000 bounties up for grabs
- Core Mainnet live
- Bungee BETA Invites rolling out
- DOJ objects to FTX’s choice of lawyers citing conflict of interest
- The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new stablecoin backed by gold
- Createra, a creator-oriented metaverse project, raised $10M in Series A funding led by a16z to continue its pursuit of building the largest Gen Z-focused metaverse platform. @Createra_
- Autofarm $5M Investment in AI-Fi: Decentralized AI Finance - @autofarmnetwork
- Acumen Network strategic investment from Blizzard, The Avalanche Ecosystem Fund - @acumenofficial
- ABGA Eco Fund - $45M fund launching in Q1 focusing on blockchain games - @ABGAasia
- Animoca Brands Japan strategic investment in Psychic VR Lab
- Glassnode - Is Bitcoin Back? - source
- A Brief Crypto History of the Winklevoss Twins - source
- State of NFT markets - source
- Multi-Precision Fast Modular Multiplication - source
Ex-president of FTX US finally speaks:
1/49 Many have asked questions about my time at FTX US and why I left when I did. As I indicated earlier this week, I’m happy to begin sharing my experiences and perspective publicly.
— Brett Harrison (@BrettHarrison88)
Jan 14, 2023
Feds changing the way they calculate CPI:
🚨IMPORTANT: Today was the last CPI print that will be calculated by the current methodology. February's CPI print will be the first report based on a *new methodology*
CPI was formerly based on two years of consumption data. Now, CPI will be based on a single year of data.
— Stock Talk Weekly (@stocktalkweekly)
Jan 12, 2023
How the ETH Shanghai upgrade exit queue works:
The Shanghai upgrade for Ethereum is currently targeted for this March. This will enable staking withdrawals for the first time since people began staking their ETH in 2020.
However, most people don't yet know how the exit queue works.
I'll walk you through it step by step 🧵👇
— Westie 🟪 (@WestieCapital)
Jan 12, 2023