The Friday Focus: Issue 21

Feb 18, 2022

Welcome to our Friday newsletter. Here you find the most exciting crypto content from the previous week - curated for you by us.

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Weekly happenings

Another eventful week in the crypto industry, with significant capital raises and M&As. Stablecoin provider Circle hits a $9B valuation after a SPAC deal, and blockchain interoperability network Axelar raises $35M at a $1B valuation. VC firm Sequoia Capital looks to invest $600M in crypto startup tokens, Castle Island Ventures launches a $250M web3 fund, and payments firm Stronghold launches a $100M fintech and web3 fund. NFT projects investor Animoca Brands acquires Australian game developer Grease Monkey, and crypto custodian Fireblocks purchases stablecoin firm First Digital.

Crypto investment vehicles continue launching globally. Brazilian asset manager Hashdex launches the country's second DeFi ETF in a month. In Germany, Fidelity debuts a bitcoin ETP, and Valour launches Cardano and Polkadot ETPs.

Charlie Munger continues creating meme-material by comparing crypto to a disease, but that doesn't stop Twitter from adding Ethereum tipping functionality. OpenSea might see increased competition as NYSE files a trademark application for an NFT marketplace. JPMorgan also FOMOs into web3 by building a virtual Decentraland Lounge. Oil producer ConocoPhillips has started selling excess gas to a bitcoin miner.

As usual lots of happenings on the political side. New US Senate legislation mandates a plan to 'mitigate potential risks' of El Salvador's Bitcoin adoption. The Canadian federal government authorizes emergency rules to cut off protesters' access to funds, including crypto. Crypto lending platform BlockFi will pay the SEC $100M in a settlement over claims that the company violated securities law through its interest account offering.

Although the US continues to be skeptical of crypto on a federal level, individual states continue marching forward crypto adoption as Colorado decides to accept bitcoin for state taxes. Ukraine has officially legalized Bitcoin, making it easier for exchanges and other infrastructure providers to operate in the crypto-hungry country. UAE plans to issue crypto licenses to become the crypto industry hub of the Middle East.