The Friday Focus: Issue 25

Mar 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

Crypto companies' valuations continue soaring. Ethereum builder ConsenSys raises $450M at a $7B valuation, Ethereum layer-2 scaling solution Optimism hits a $1.6B valuation after raising $150M, and crypto startup Gauntlet achieves a $1B valuation. Other notable capital raises include web3 protocol Mina Foundation's $92M raise and crypto custodian Hex Trust's $88M raise.

ETFs continue being launched, with Hashdex's Web3 ETF in Brazil and ProShares' metaverse ETF in the US. In addition to ETF listings, the company behind the crypto wallet Exodus gets publicly listed in the US.

Binance continues expanding, now focusing on the Middle East, joining its competitor FTX in obtaining an operating license in Dubai while also getting one in Bahrain. Binance also looks to enter the fast-growing Brazilian market, with a possible acquisition of a securities brokerage. After preparing the market with massive marketing, Crypto.com is finally rolling out its exchange platform in the US.

When it comes to adoption from traditional companies, Instagram will add NFTs soon, while GameStop aims to launch an NFT platform by the end of June. HSBC, previously a stark crypto opponent, now follows other banking giants into the metaverse with its partnership with The Sandbox.

On the political side, the EU Parliament rejected a proposal banning proof-of-work. Elizabeth Warren continues her anti-crypto march, announcing a sanctions compliance bill for crypto companies, ignoring that a FinCEN representative said it's impossible for Russia to evade sanctions with crypto.

The Argentinian government signed a loan deal with IMF with a clause to discourage crypto usage. Ukraine legalized cryptocurrencies, while the Russian Central Bank issued a digital asset license to Sberbank. The Kazakh government continues turning increasingly hostile to miners and has confiscated $200M in mining equipment.