Future Finance - Issue #120: Bitpanda Raises $263M, Cryptosecurity Investments Are Up, And White Hats Defused A Potential $350M Heist on SushiSwap

Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-ch

Future Finance - Issue #120: Bitpanda Raises $263M, Cryptosecurity Investments Are Up, And White Hats Defused A Potential $350M Heist on SushiSwap By Alan Tsen • Issue #120 • View online Welcome to another issue of Future Finance, your weekly off-chain newsletter about the world of on-chain finance. And always, there's no shortage of news from the industry. So grab a coffee (or beer), and let's get into this week's news from the world of open and decentralised finance. 👉 Got some interesting news I should include in my newsletter? Feel free to respond to this email or hit me up on Twitter - my DMs are always open. — Alan Tsen 👊 💯 Ps. If you like what I'm doing here, please feel free to share it on your favourite social media network. Also, it'd be great if you forwarded this newsletter to a friend you think might enjoy it.

📰 News This Week

Inside the Data Driving Axie Infinity's Torrid Growth Axie Infinity has recorded unprecedented growth in the crypto space. This week the data confirmed that it surpassed more than $1 billion in sales and the equally spectacular achievement of one million daily users. Where is the limit for Axie Infinity? Will play-to-earn help to expand crypto adoption to the young generations? Can traders benefit as well from this growth? thedefiant.io  •  Share

White Hats Just Defused a Potential $350M Heist on SushiSwap Because of the collective efforts of the white hats, SushiSwap says no funds have been lost. The fix was accomplished in under 5 hours. www.coindesk.com  •  Share

Trading platform Bitpanda raises $263M at a $4.1BN valuation It's not even half a year since crypto exchange Bitpanda announced a $170M Series B — when, back in March, Austria's first unicorn was being valued at $1.2 billion. Today it's topping that: Announcing a $263M Series C, led by Peter Thiel's Valar Ventures, with the fintech startup now valued at a whopping $4.1BN — […] techcrunch.com  •  Share

Source: Crunchbase

Venture Investment In Cryptosecurity Jumps 10x Over Last Year As Sector Hits Sweet Spot With Venture Capitalists What do you get when you combine never seen before investment in cybersecurity with the increasingly heated interest in cryptocurrency? You get a banner year for investment in cryptosecurity, with venture dollars invested in the sector already past $1 billion this year. news.crunchbase.com  •  Share

Custody Firm Anchorage Launches Governance Voting With DeFi Giant Aave Anchorage is offering blockchain governance voting services, starting with decentralized finance (DeFi) major Aave. www.coindesk.com  •  Share

Moving Beyond Coin Voting Governance One of the important trends in the blockchain space over the past year is the transition from focusing on decentralized finance (DeFi) to also thinking about decentralized governance (DeGov). While the 2020 is often widely, and with much justification, hailed as a year of DeFi, over the year since then the growing complexity and capability of DeFi projects that make up this trend has led to growing interest in decentralized governance to handle that complexity. vitalik.ca  •  Share

Source DeFi Report Q2 2021

DeFi Report Q2 2021 In Q2 2021, more financial analysts, media, politicians, and entrepreneurs began to ask the question: what is DeFi, and what is it good for? In previous editions of the ConsenSys DeFi report, we've covered the rise of stablecoins, how decentralized exchanges and automated market makers work, and the new types of DeFi assets that power borrowing and lending protocols. consensys.net  •  Share

Polygon Will Create A Decentralized Autonomous Organization Polygon called on its members and DeFi projects to express their views on the platform forming a decentralized autonomous organization. cointelegraph.com  •  Share

Twitter Taps Crypto Developer To Lead 'bluesky' Decentralized Social Network Effort Twitter's ambitious upstart decentralized social media working group "bluesky" took an important step Monday as the social media company appointed a formal project lead who will direct how the protocol develops moving forward. Crypto developer Jay Graber was tapped by Twitter to helm the initiative, which the company hopes will eventually create a decentralized social […] techcrunch.com  •  Share

TikTok Chooses Blockchain-Powered Audius for First Music Integration If TikTok is a window into what teens are up to these days, then crypto has a place beside dance videos.  thedefiant.io  •  Share

🎧 Podcasts Of The Week

Institutional DeFi Infrastructure | Fireblocks' Michael Shaulov Fireblocks is building infrastructure to help businesses adopt digital assets with a suite of products, providing institutions access to DeFi with security and convenience. Last month, Fireblocks raised over $300 million at a $2.2B valuation. CEO… pca.st  •  Share

MoFi Consensus JPEG Summer Kevin Rose and DCinvΞstor discuss "JPEG Summer," Wallet security and legacy planning, Kevin's sell and buy strategy with Cryptopunks, as well as his NFT Blockchain archeology. pca.st  •  Share

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FinTech Collective launched DeFi venture fund / Coinbase partnered with Japan's MUFG / Fresh Funding for Catalog / AVAX hit 3mo high, up 37% in 24hrs / Folius Ventures launched a Web3 fund / Helix BTC mixer operator pled guilty

Plus: Coinbase is holding $4B in cash in the event of a crypto winter.

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The global crypto market cap is $3.00T 4.31%▲ with a 24-hour market volume of $113.74B 8.98%▼. Bitcoin's dominance is currently 43.80% 0.18%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $46,569.15 3.63% ▲ 2 Ethereum ETH $3,132.37 3.05% ▲ 3 Cardano ADA $2.35 12.31%▲ 4 Binance Coin BNB $427.86 7.45%▲ 5 XRP XRP $1.19 4.65% ▲ *Prices as of 4:00 p.m. ET.

FinTech Collective raised $250M for early-stage and DeFi venture capital investing. $200M will go to the existing early-stage fund, while the remaining $50M will be used to set up a new DeFi fund. More: Investors in the FinTech Collective include the State of Wisconsin Investment Board, StepStone Group, DRW, and others. Following the raise, the venture firm has reached a total AUM of around $500M. FinTech collective recently exited an investment in MoneyLion through a SPAC merger.

Coinbase partnered with Japanese banking giant Mitsubishi UFJ Financial Group (MUFG). The announcement stated that the partnership will allow Coinbase to launch in Japan. More: Over 40 million MUFG account holders will gain easy access to crypto through Coinbase. The exclusive partnership will only allow Japan-based MUFG account holders to access Bitcoin through Coinbase. Japan holds one of the largest crypto transaction volumes in the world.

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🍋Fresh Funding🍋 Catalog, NFT/Music: $2.2M ⮕ The funding round was participated in by 1confirmation, Inflection, Delphi Digital, and others. More: Catalog is a music-centered NFT marketplace for independent artists. The startup already has over 100 artists on the platform, who have earned a collective total of over $213,000 to date selling records. This is the second investment made by Peter Thiel and Mark Cuban’s 1confirmation.

▲ TOP GAINERS # Name Price 24h % 1 SwissBorg CHSB $0.8977 24.84% ▲ 2 Kusama KSM $331.02 16.86% ▲ 3 Fantom FTM $0.4914 16.77% ▲ 4 Arweave AR $30.05 14.86% ▲ 5 Internet Computer ICP $66.52 14.49% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Voyager VGX $4.15 17.77%▼ 2 Revain REV $0.01048 6.35%▼ 3 Quant QNT $182.54 4.27%▼ 4 Solana SOL $72.26 3.12%▼ 5 Audius AUDIO $3.33 1.34%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 4:00 p.m. ET.

Avalanche (AVAX) reached a three-month high following its $180M incentive program with Aave and Curve. The announcement boosted AVAX by around 37% in the past 24 hours. More: AVAX has doubled in value over the past seven days. The incentive program will support growth and participation in Avalanche’s native liquidity protocol, “Avalanche Rush.” Avalanche has allocated $27M in AVAX for Aave and Curve users, with additional allocations expected in the upcoming month.

Folius Ventures LLC launched a new investment fund aimed at investing in Web3. The fund currently has $45M committed, with a target raise of $50M. More: Folius was founded by former Briarwood Chase Management director Jason Kam. The venture firm is currently backed by ParaFi Capital, Dragonfly Capital, Compound’s Robert Leshner, and others. Crypto-focused venture funds have been increasingly raising funds recently, with FinTech Collective, Framework, and CoinFund also launching crypto-based funds.

Darknet bitcoin mixer Helix’s Larry Harmon pleaded guilty in the U.S. to money laundering conspiracy charges. Helix allegedly mixed over 350,000 BTC (~$300M) during its operation. More: In the plea, Harmon admitted to being the operator of Helix from 2014 to 2017. Helix was reportedly partnered with several darknet markets, including AlphaBay, Evolution, and Cloud 9. Harmon will be required to turn over 4,400 BTC (~$200M) and could face a maximum of 20 years in prison for his involvement.

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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 Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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