UK provides smart contract dispute rules / NYDIG acquires Arctos Capital / Fresh Funding for CoinSwitch Kuber

Plus: ATH for ETH as BTC dominance drops below 50%.

Inside.com Part of   Network April 22, 2021

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Hey Insiders, Did you know that Inside’s readership is full of prominent executives from top companies, including Microsoft, Apple, Amazon, and Visa? Did you also know that, through our referral program, our most dedicated readers can gain access to an exclusive SLACK community where they can meet our writers, share tips and tricks, and network with fellow Insiders? To make the most of our network and join the most exclusive part of our community, scroll down to the bottom of this newsletter, click to share, and start referring your friends. Also, we're hiring! Check out our available positions here. Griffin

The global crypto market cap is $2.02T -2.12%▼ with a 24hr market volume of $201.62B 5.71%▲. Bitcoin's dominance is currently 49.50% -1.10%▼.  CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $53,169.23 4.67% ▼ 2 Ethereum ETH $2,534.92 4.10% ▲ 3 Binance Coin BNB $539.28 6.83% ▼ 4 XRP XRP $1.31 4.76% ▼ 5 Cardano ADA $1.22 2.33% ▼ *Prices as of 2:30 p.m. ET.

The UK Jurisdiction Task Force (UKJT) at LawtechUK published new "Digital Dispute Resolution Rules" to provide guidance on dealing with smart contract disputes. The foundational rules were created in light of a recent report that the smart contract market is predicted to exceed $345M by 2026. More: The 14-page report provides an avenue for crypto-related dispute resolution without significant intervention by the courts. Disputes would be resolved by an arbitrator or tribunal instead of the court to assure quick and effective resolution by someone with the technical understanding to make blockchain-related rulings. If the arbitration decision needs to be enforced, specific legal actions may be pursued through courts established in England and Wales. Among other provisions, the new rules provide for anonymity when raising a dispute. Claimants are not required to disclose their identity to anyone but the tribunal.

Crypto investment fund and custody service provider NYDIG acquired San Francisco-based commercial lender Arctos Capital. With the acquisition, NYDIG plans to provide capital to bitcoin miners in North America. More: Arctos Capital was founded in 2018 with a primary focus on providing financing and lending services to bitcoin mining companies.  NYDIG also acquired crypto analytics company Digital Assets Data earlier this year for an undisclosed amount. Yesterday, NYDIG received a strategic investment from First Foundation, adding to the more than $300M the firm has fundraised since 2021.

A message from EXODUS Exodus shatters regulated crypto public offering record Exodus, one of the most popular cryptocurrency apps, is on a mission to help half the world exit the confines of traditional finance by 2030.  And if that’s a mission you believe in, you can be a part of it: Exodus is pioneering an offering of its common stock, represented digitally and secured by the blockchain. Currently, Exodus shares are offered at $27.42 a piece, valuing the company at $710 million. The Exodus Public Offering has commitments of about $60,000,000 within 5 days of going live. Exodus is fast approaching the $75 million offering maximum. Don’t miss out. Be among the first to own a stake in the future of finance. Invest in Exodus

▲ TOP GAINERS # Name Price 24h % 1 Solana SOL $40.10 17.23% ▲ 2 Maker MKR $4,249.27 8.94% ▲ 3 Terra LUNA $14.94 6.01% ▲ 4 ETH Classic ETC $35.22 5.07% ▲ 5 Ethereum ETH $2,535.05 4.10% ▲ ▼ TOP LOSERS # Name Price 24h % 1 VeChain VET $0.2191 -8.62%▼ 2 THETA THETA $10.82 -7.92%▼ 3 Dogecoin DOGE $0.2393 -7.78%▼ 4 Crypto.com CRO $0.1863 -6.93%▼ 5 BitTorrent BTT $0.00737 -6.24%▼ *Limited to cryptocurrencies with a market cap >$4B. Prices as of 2:30 p.m. ET.

🍋 FRESH FUNDING 🍋 CoinSwitch Kuber, crypto exchange: $25M. The India-based crypto exchange raised $25M in a Series B funding round led by Tiger Global Management. At the time of Tiger’s investment, CoinSwitch Kuber was valued over $500M. More: Tiger was the only investor in CoinSwitch's Series B funding round. Tiger’s funding comes only a couple of months after CoinSwitch raised $15M in a Series A funding round led by Ribbit Capital and Paradigm. The short period between the Series A and Series B funding rounds was said to be because the exchange was in a "hyper-growth" stage. CoinSwitch stated that the additional funds were necessary to scale the company to compete with other exchanges like Coinbase. Tiger previously invested $500M in Coinbase back in October 2018. CoinSwitch’s raise comes as India considers banning cryptocurrency.

QUICK HITS Here is an enterprise-ready solution to take the stress out of monitoring.* Ethereum reached an all-time high of $2,600 today as Bitcoin’s market dominance fell below 50% for the first time in three years. Huobi Group launched four new crypto funds for institutional investors looking to gain exposure to crypto-focused private equity offerings. Jackson, Tennessee, Mayor Scott Conger recently spoke with Bitcoin Magazine about exploring ways to offer crypto-based payroll for city employees and other public use cases for the city.  The Pelé Foundation will be auctioning off NFT player cards of the world-renowned Brazilian soccer player on Ethernity’s marketplace on May 2. 90% of proceeds from the NFT sale will be used to empower children battling poverty. Wyoming announced Wednesday afternoon that it would officially recognize DAOs as a variation of the LLC. Share ideas with a community of investors through this investing social network.* *This is sponsored content.

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 Jonathan Harris is a writer for Inside.com. Previously, he wrote for The Huffington Post, TakePart.com, and the YouTube channel What’s Trending.

Exodus is making history raising $60,000,000 within 5 days of its SEC-regulated offering going live

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