Daily Bullets: FOMC, Russian Mobilization - Time to Pay Attention
Daily Bullets: Wednesday, September 21st
All eyes are on FOMC today at 2PM EST as traders and investors are desperate for an idea of what the next leg of the market will look like. Most market participants are betting on a 75 bp rate hike with non-negligible odds of 100. Expect volatility if you’re trading! Meanwhile the macro and geopolitical environment keeps on getting iffier - news that Russia is escalating isn’t encouraging. Regulation is breathing down our necks. We’re in for some interesting times!
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⛓ Crypto News:
Draft legislation to create a U.S. federal framework around stablecoins would temporarily ban the types of payment coins that are not backed by outside assets for 2 years - similar to TerraUSD
President Vladimir Putin has ordered the partial mobilization of the Russian population, including calling military reservists into active service and a boost to weapons production - tightening global geopolitical tensions
Wintermute offers hacker 10% bounty on funds taken
Tether, Bitfinex ordered to show financial documents showing the backing of the USDT stablecoin
The European Union has finalized the full text of its landmark Markets in Crypto Assets legislation
Binance Futures will launch USDⓈ-M LDO and CVX perpetual contracts with up to 25x leverage
Neobank Revolut has expanded its crypto investment offering, adding 29 new tokens for its American customers
Layer-2 scaling solution Boba Network has expanded its support to the Avalanche blockchain
21Shares launches Ethereum exchange-traded product tailored to the bear market
Digital bank FV Bank integrates USDC stablecoin for direct deposits
Central Bank of Iran will begin the pilot launch of crypto-rial as the bank’s digital currency
Arbitrum paid a code bounty hunter 400 ETH for finding a bridge vulnerability which could have compromised more than $250M
Liquid staking startup Alluvial has added the cryptocurrency exchange platform Kraken to its independent industry consortium
FTX and Binance are leading the auction for crypto-lender Voyager
Huobi enables cryptocurrency purchases with fiat in Latin America by partnering with AstroPay
Ankr partners with Polygon to enhance the building experience for Supernet Developers
Mina Protocol Q3's ecosystem roadmap
Optimism Quests: a guided exploration of the ecosystem that allows users to earn NFTs while exploring Optimism apps
Announcing Urbit's EVM blockchain
StarkNet is now live on Infura
Benqi Finance - Phase 1 of veQI - a tool to supercharge Avalanche validators
Succinct Labs - towards the endgame of blockchain interoperability with proof of consensus
Savvy comes out of stealth - allows you to unlock your liquidity & get an advance on future yield, with non-liquidating self-repaying lines of credit
Introducing Liquid Collective: the enterprise-grade liquid staking protocol. Designed to meet the needs of institutions. Built and run by a collective of leading web3 teams
UXD Protocol is launching its capitally efficient, algorithmic stablecoin, $UXD, on Sei
Subspace Network - Gemini II Incentivized Testnet is live
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
TL;DR: On the daily, we see a reversal of yesterday with the most amount of money flowing into USDC today, followed by WETH and a random outflow of MIM. Weekly shows money flowing into Compound and Aave ETH products and still a net outflow from USDC. Slight boost in NFT volumes
Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D): USDC ($92.8M), WETH ($12.8M), cETH ($9.5M), COMP ($5.3M), DAI ($5.2M)
- Outflow (1D): MIM ($7.7M), alUSD ($2.2M), MATIC ($426k), APE ($405k), cbETH ($386k)
- Inflow (7D): cETH ($73.9M), aSTETH ($22.5M), USDT ($21.2M), WBTC ($18.2M), WETH ($9.9M)
- Outflow (7D): USDC ($60.1M), RPL ($10.9M), cCOMP ($9.7M), MIM ($7.7M), cUSDC ($6.8M)
Nansen NFT Hot Contracts:
Legendary Dancing Seahorse: 2190 ETH
BAYC: 1120 ETH
ATARI50: 1037 ETH
MAYC: 949 ETH
ENS: 515 ETH
What is the Data telling you? See anything that sticks out to you?
Messari - State of Bitcoin Q3 2022 - source
The Next Big Crypto Narrative. A Search For The Supernatural - source
eGirl Capital - Liquidity, Capital and Bank Runs - source
Realistic yield: Separating the wheat from the chaff - source
On building mobile first. Build where people spend their time - source
Gigachad Due Diligence Questionnaire - source
The Kill Bill: What the Future Holds for Stablecoins - source
Why equity plus token warrants is the new go-to formula for crypto VCs - source
How to Make On-Chain Gaming Competitive: 'Procedural Generation' [Part 2] - source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
MoonPay, Universal Studios and Hypermint partnered to create an NFT-based scavenger hunt at Universal Theme Parks
Funko teams up with Warner Brothers for DC Comics' NFT release
Playstation is now making NFT but with a twist. They call them Digital Collectibles
insrt finance is building a simplification and abstraction layer for NFT finance - unlocking yield & returns generated by Ethereum NFTs
Introducing Bagholder, an NFT loyalty protocol that lets you reward people for holding NFTs from a collection in their wallets
Digital fashion platform BNV will launch its own Metaverse
FastAF partners with Solana-based NFT project Degen Apes to provides a token-gated use case
Open sourcing the Art Gobblers smart contracts
🌍 Crypto Twitterverse:
Spice VC’s $250M second venture fund is expected to close mid-fourth quarter
Hong Kong billionaire Adrian Cheng's VC firm C Ventures reportedly plans to raise a new $200M crypto fund
Crypto analytics firm Messari raises $35M in Series B led by Brevan Howard Digital
Chess game Immortal Game raised $15.5M in a funding round backed by Kima Ventures, TCG Crypto, Alven, Moonfire Ventures, Spice Capital, Kraken Ventures
Higlobe raises $14M to eliminate international fund transfer fees for the global workforce
Web3 finance platform Integral closes $8.5M round led by Electric Capital
SkyBridge Capital and FTX led an $8M round for the NFT-based gaming firm Vulcan Forged, with the option to invest $33M more
Antic raises $7M to set the stage for the age of experiences and make co-ownership seamless
Spot, a next-generation communications platform, raises $5.5M
Nilos raises $5.2M to build a crypto treasury platform for businesses
Web3 back-office platform Headquarters has closed a $5M round co-led by Crypto.com Capital, Forge Ventures and MassMutual Ventures
Banking giant Nomura launches crypto VC unit named Laser Venture Capital - will invest in startup categories including DeFi and blockchain infrastructure
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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