Société Générale tokenizes debt on Tezos / VanEck launches DAPP ETF / Gitcoin raised $11.3M

Plus: The auction for Snowden's NFT ("Stay Free") begins Friday

Inside.com Part of   Network April 15, 2021

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The global crypto market cap is $2.24T 2.80%▲ with a 24hr market volume of $183.29B 19.39%▼. Bitcoin's dominance is currently 52.45% -1.17%▼.  CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $62,762.06 -1.26%▼ 2 Ethereum ETH $2,460.17 3.47% ▲ 3 Binance Coin BNB $552.63 -2.12%▼ 4 XRP XRP $1.76 1.23%▲ 5 Cardano ADA $1.47 1.40%▲ *Prices as of 2:30 p.m. ET.

The 17th largest bank in the world, Société Générale, announced the launch of tokenized debt. The tokenized euro medium-term note (EMTN) is a modified security token implemented on the Tezos (XTZ) blockchain. More: The French bank is looking to utilize Tezos for its potential to limit intermediaries and reduce transaction costs. Société Générale Group Forge led the bank in developing EMTN and has frequently partnered with the bank on crypto developments in the past. Société Générale is already working with Tezos for France’s CBDC, announced back in September 2020. Tezos was co-founded by Arthur Breitman, a former research engineer for Google X and quantitative analyst for Goldman Sachs and Morgan Stanley.

VanEck launched its Vector Digital Transformation ETF (DAPP) yesterday. The ETF offers "pure-play" exposure to bitcoin and crypto-related activities. More: DAPP specifically tracks companies that generate at least 50% of their revenue from crypto projects, build crypto products that generate 50% of revenues from crypto, or companies with at least 50% of their assets invested in BTC, ETH, or other cryptocurrencies. The index does not invest directly or indirectly through derivatives in cryptocurrencies and does not plan on adopting such investments in future rebalances. DAPP provides exposure to companies involved in “mining, hardware, exchanges, holding and trading, payment gateways, patents and services, and banking.” VanEck previously filed for a Bitcoin ETF with the SEC back in March but received the usual SEC treatment on the matter.

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▲ TOP GAINERS # Name Price 24h % 1 Aave AAVE $468.49 16.31% ▲ 2 TRON TRX $0.1583 13.60% ▲ 3 Creditcoin CTC $7.35 14.24% ▲ 4 Cosmos ATOM $26.57 11.93% ▲ 5 Chainlink LINK $42.59 11.56% ▲ ▼ TOP LOSERS # Name Price 24h % 1 Avalanche AVAX $36.93 -5.17%▼ 2 FTX Token FTT $56.24 -3.81%▼ 3 Binance Coin BNB $552.63 -2.12%▼ 4 Bitcoin BTC $62,762.06 -1.26%▼ 5 Wrapped BTC WBTC $62,907.68 -0.93%▼ *Limited to cryptocurrencies with a market cap >$4B. Prices as of 2:30 p.m. ET.

Gitcoin raised $11.3M in Paradigm lead funding round. The funding round included investments from 1kx, Electric Capital, IDEO, The LAO, MetaCartel Ventures, and angel investors Naval Ravikant and Balaji Srinivasan. More: The capital raise gave Gitcoin enough funding to become more decentralized and branch off from Ethereum developer ConsenSys. Gitcoin is a platform for open-source development within the Ethereum ecosystem, offering virtual events, hackathons, and incubators. The platform is one of the biggest funders in the ethereum ecosystem, contributing over $18M in grants for decentralized ethereum projects. Gitcoin has previously organized grant rounds and matched raising funds for decentralized exchanges like Uniswap and 1inch.

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QUICK HITS: Collaborate with other investors and never be alone with your charts and numbers.* Chainlink released a new whitepaper reflecting its plan to generalize its oracle network and provide smart contract computations. Ark Funds invested $246M in Coinbase (749,205 shares) spread among the Ark Innovation ETF, Ark Fintech Innovation ETF, and Ark Next Generation ETF. NSA whistleblower Edward Snowden will be releasing his “Stay Free” NFT on Foundation for auction on Friday. All proceeds from the auction will be donated to the Freedom of the Press Foundation, a non-profit fighting for journalists detained at the border, reporters arrested covering protests, and whistleblowers prosecuted for telling the truth. A resolution proposed by a commissioner in Miami wants to examine the feasibility of allowing residents to pay local taxes in BTC, ETH, and LTC. Early-stage regenerative medicine? Find out how to invest in the future of pain relief.* *This is a sponsored post.

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Charlotte Hayes-Clemens is an editor and writer based in Vancouver. She has dabbled in both the fiction and non-fiction world, having worked at HarperCollins Publishers and more recently as a writing coach for new and self-published authors. Proper semi-colon usage is her hill to die on.

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