Pumping Politicians
Good morning. Today in the CT5 we have the FTX co-CEO getting political, an actively managed ETH fund, crypto infrastructure investment from Goldman, and more! Also look out for the March CPI numbers at 8:30am ET (about the time this newsletter hits your inbox).
Market Update (as of 8:00am ET):
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Top 5:
1. Uniswap Labs forms crypto ventures wing. The company behind decentralized exchange Uniswap, is launching a venture fund to invest in web3 projects. Matteo Leibowitz, Strategy Lead for Uniswap, and COO Mary-Catherine Lader will run “Uniswap Labs Ventures". The company has already invested in 11 crypto projects including Aave, Compound Protocol, and MakerDAO. The size of the fund has not been disclosed.
1/💫 At Labs, we want to onboard millions of users into the web3 economy, with the goal of unlocking universal ownership & exchange for all. But we know we can’t achieve our mission alone.
— Uniswap Labs 🦄 (@Uniswap) April 11, 2022
Today we're proud to announce the launch of Uniswap Labs Ventures!https://t.co/Y4gSKOd9dC
2. FTX co-CEO donates $4M to Republican PAC ahead of midterm elections. Ryan Salame, co-CEO of FTX Digital Markets has donated $4 million to the American Dream Federal Action PAC, a group “who want to protect America’s long-term economic and national security." While the PAC is not specifically pro-crypto, it's a continuing example of the industry flexing newfound muscle in Washington. Salame has previ0usly given $10 million to the crypto-focused GMI PAC.
3. Epic Games raises $2B to 'build the metaverse'. The company behind Fortnite saw funding from Sony and the LEGO parent company that valued the firm at $31.5 billion. Epic plans to use these funds to "accelerate [their] work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences, and creators can build a community and thrive." It's currently unclear if this build will include NFTs or crypto, but founder and CEO Tim Sweeney has kept Epic open to the crypto industry, especially when compared to other gaming companies.
4. IDEG Asset Management partners with Coinbase Prime to launch actively managed ETH fund. The investment firm announced the Ethereum Enhanced Portfolio on Monday which is part of their TIMES (Trust, Interest, Mining, Yield Earnings and Structured Solutions) suite of products. The fund aims to provide enhanced returns and less volatility by deploying a futures arbitrage strategy. Coinbase Prime will operate as the fund's prime broker and custodian. The product will be available to qualified investors, excluding those in the United States.
5. Goldman Sachs invests in blockchain security firm Certik’s $88 million funding round. The funding round brought Certik's valuation to $2 billion, doubling the value since the last round of funding in December 2021. The company uses AI to monitor blockchain protocols, provides smart contract security audits, and rolled out a KYC service earlier this year. The investment from Goldman sees the Wall Street firm continuing to expand their presence in the crypto industry.
Updates and other stories:
- Four Days In Miami With Crypto’s Most Faithful Fans...Read More
- Ethereum devs now testing ETH 2.0 upgrade on 'shadow fork'...Read More
- NBA crypto lead registers second .eth domain, files NFT trademarks...Read More
Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN
External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings
Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.