Future Finance - Issue #121: Visa Apes In And Buys A Crypto Punk, DeFi TVL Hits An All Time High, And SuperRare Releases Their Token

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

Future Finance - Issue #121: Visa Apes In And Buys A Crypto Punk, DeFi TVL Hits An All Time High, And SuperRare Releases Their Token By Alan Tsen • Issue #121 • 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

DeFi TVL Hits A Record $157B As Ethereum Competitors Attract Investors Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi's TVL hit a new all-time high. cointelegraph.com  •  Share

CryptoPunk 7610, which Visa bought for $150,000 in Eth

CryptoPunk NFT Prices: Visa Buys Digital Avatar #7610 for $150,000 in ETH The payments network shelled out for a CryptoPunk of a woman with clown-green eyes and "hot lipstick." www.bloomberg.com  •  Share

Three Arrows Capital CEO Su Zhu Outlines His Bullish Thesis For Dogecoin Speaking on "The Game Theory of Crypto Podcast", Three Arrows Capital CEO Su Zhu stated he's bullish about DOGE due its retail trading volume, simplicity and lack of legal issues. cointelegraph.com  •  Share

SuperRare Drops Token Amid Series of Moves to Empower Artists SuperRare, the influential NFT art platform, is taking a big step forward in its plan to progressively decentralize with the launch of its RARE token. thedefiant.io  •  Share

Coinbase Will Buy $500M In Crypto And Invest 10% Of All Future Profits In Digital Assets Coinbase has allocated $500 million and 10% of future profits to crypto asset investments. cointelegraph.com  •  Share

Will Booming NFT Market Spur New DeFi Lending Wave? The whole world is struggling to wrap its head around non-fungible tokens (NFTs), including DeFi. But DeFi is trying. The value of non-fungible tokens (NFTs) is off the charts. "Over the last two weeks NFT sales have exploded to levels well beyond the NFT boom seen in March," says a new report by CoinMetrics. thedefiant.io  •  Share

Source: Coindesk

DeFi Adoption Is Still Far From Mainstream: Chainalysis Mainstream adoption of DeFi protocols remains at an early stage relative to the wider crypto industry, a Chainalysis report said. www.coindesk.com  •  Share

Budweiser Registers 'Beer.eth' Domain And Purchases NFT Budweiser has become the latest brand to become part of the NFT metaverse after registering the domain name Beer.eth and purchasing a unique NFT from the Tom Sachs Rocket Factory collection. finance.yahoo.com  •  Share

Philippine Regulator Tells Axie Infinity players they must pay tax on income from game The price of SLP continues to slide after the Philippine finance department foreshadowed a tax crackdown on play-to-earn gamers. cointelegraph.com  •  Share

Facebook's David Marcus Is Not A Fan of Dogecoin, Warns of Investor Risk With DeFi Facebook could soon be an important player in the cryptocurrency industry. That was one of my takeaways from interviewing David Marcus, Facebook's top crypto exec. The social networking giant is pushing to launch its Novi digital wallet this year, even if the diem cryptocurrency that the company … www.theinformation.com  •  Share

Galaxy Digital Floats Blockchain Fund As Bet On Cryptocurrency's Booming DeFi Movement A new passive index tracks the performance of Bloomberg's Galaxy DeFi Index, and is part of an estimated $80 billion industry that's poised for explosive growth in the coming years. finance.yahoo.com  •  Share

🎧 Podcasts Of The Week

Are NFT Sneakers for Real or Just a Scam? Bobby Hundreds Explains The Complex Sneakers Podcast is co-hosted by Joe La Puma, Brendan Dunne, and Matt Welty. In this week's episode, the hosts are joined by Bobby Hundreds, co-founder of the Hundreds, to discuss how footwear can exist in the metaverse. pca.st  •  Share

"There's Been a Zero-to-One Switch for Institutions and Crypto:" Pantera's Dan Morehead In this week's episode, we speak with Dan Morehead, the founder of one of the longest-standing and largest crypto funds. Dan founded Pantera Capital in 2003 as a global macro hedge fund. In 2013, Pantera began investing in Bitcoin and quickly shifted its entire focus into crypto. pca.st  •  Share

What did you think of this week's issue of Future Finance? I love it! ◌ I Like It ◌ Not Bad ◌ I Don't Like It ◌ It's Awful

Did you enjoy this issue?

By Alan Tsen Future Finance is a curated newsletter sent to your inbox every week. We cover all the most important news in the world of decentralised finance. It takes 10 minutes to read and provides you with all the essential news. Tweet     Share

If you don't want these updates anymore, please unsubscribe here. If you were forwarded this newsletter and you like it, you can subscribe here. Powered by Revue

Institutions own over 8% of BTC supply / Morgan Stanley owns 1M shares of GBTC / SK to establish independent crypto bureau / Brazil Fed Police seized 591 BTC

Plus: EIP-1559 has burned over 100K ETH (~$300M) 20 days after London upgrade

Inside.com Part of   Network August 26, 2021

Presented by

The global crypto market cap is $2.00T 4.03%▼ with a 24-hour market volume of $109.95B 3.87%▼. Bitcoin's dominance is currently 44.08% 0.04%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $47,018.57 3.60% ▼ 2 Ethereum ETH $3,120.64 2.87% ▼ 3 Cardano ADA $2.52 3.69%▼ 4 Binance Coin BNB $480.85 3.69%▼ 5 XRP XRP $1.09 5.69% ▼ *Prices as of 5:00 p.m. ET.

Companies and institutions now own over 8% of bitcoin’s total hard cap supply (1.6M BTC). The majority of all company BTC purchases occurred over the past year and a half. More: MicroStrategy is currently the top corporate BTC holder, with nearly 109,000 BTC on its balance sheet. MicroStrategy’s BTC holding of 0.5% of the total BTC supply represents 75% of the company’s total market cap. Tesla is the second-largest holding company with 43,200 BTC, followed by Square, Marathon Digital Holdings, and Coinbase.

A recent SEC filing revealed that Morgan Stanley owns over 1 million shares of Grayscale Bitcoin Trust (GBTC). The bank now offers indirect exposure to BTC across 30 different portfolios. More: The total number of GBTC shares purchased is worth roughly $40M. Morgan Insight Fund purchased the largest amount of GBTC shares with around 928,000 shares (~$36M). Morgan Stanley has been increasingly accepting of bitcoin and other digital assets, even going as far as comparing bitcoin to gold in a report published back in April.

A message from ZENDESK Imagine a world where customer service is painless... Zendesk for Startups has the resources you need to support your customers and grow your startup — and it's free for six months! More: 75%+ of the Forbes Cloud 100 use Zendesk for customer service and sales, suggesting that customer experience (CX) plays an important role in their rise to the top. Less than 1/3 of startups has a CX strategy in place, according to the CX Benchmark Report. However, research shows that the sooner you start thinking about your customers, the better off you’ll be. Zendesk for Startups helps qualifying startups (<50 employees, up to Series A funding) build a scalable foundation for lasting customer experiences. It's a 6-month program, including free software (a $65,000 value!). Claim 6 months free

🍋Fresh Funding🍋  Royal, NFTs/Music: $16M ⮕ The seed funding round for Royal was led by Paradigm and Founders Fund. More: Royal is a music platform that lets fans purchase NFTs to share royalties earned by artists. The platform was founded by DJ and NFT enthusiast Justin Blau (3LAU), who wanted to better align the interests of artists and fans. 3LAU was an early adopter to NFTs, selling a tokenized album back in March for nearly $12M.

▲ TOP GAINERS # Name Price 24h % 1 Celo CELO $3.33 7.69% ▲ 2 Solana SOL $75.04 6.14% ▲ 3 Revain REV $0.01355 1.90% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Perpetual Protocol PREP $15.24 15.46%▼ 2 Tezos XTZ $4.45 15.42%▼ 3 XinFin Network XDC $0.137 12.39%▼ 4 Audius AUDIO $2.44 11.81%▼ 5 Fantom FTM $0.4388 11.59%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 5:00 p.m. ET.

South Korea’s Financial Service Commission (FSC) announced that it will establish an independent bureau to handle crypto-related matters. The announcement came a day after the FSC declined to acknowledge the possibility of cryptocurrency as a financial asset. More: The new crypto bureau will be set up by the Korea Financial Intelligence Unit (KFIU). The KFIU has additionally been charged with handling new crypto regulations set to take effect on Sept. 24. Exchanges that fail to comply with the upcoming regulations will be denied access to operate in South Korea.

A message from OPTIMIZELY Opticon21 is just around the corner. Have you registered yet?  It’s that time of year again! Join us on the Path to Potential at this year's Opticon, brought to you by Optimizely, taking place virtually from September 21-23 in North America, Europe, and Asia Pacific, respectively.   Travel the path to potential. Take your organization from reactive to adaptive.  Digital experiences matter—a great one can create loyal customers and a bad one can drive them away for good. For some customers, their first impression matters most. For those who have known a brand in-store, going online can alter an impression that took years to create. At pivotal moments like this, when customer habits are rebooting post-pandemic, the effects can last for years.   At Opticon21, you’ll learn not only how to survive but thrive in this environment by adapting to change rather than reacting to it.   Register here to save your seat

The Brazilian Federal Police seized 591 BTC (~$27.7M) in connection to a corporate pyramid scheme. The police additionally took $2.6M in cash, 21 luxury cars, jewelry, and other materials. More: The company in question reportedly was engaged in a pyramid scheme linked to speculation in the crypto market. The arrest is part of the police investigation titled “Operation Kryptos,” which has arrested at least another five persons involved in this scheme. Among those arrested was Glaidson Acacio, who was accused of promising 15% ROI to investing clients through his bitcoin consultancy business.

The EIP-1559 fee mechanism has burned over 100,000 ETH (~$300M) in the 20 days since the Ethereum London upgrade was implemented. The transaction fee process includes a base fee that is burned, and a priority fee that is paid to the miner.  More: The new fee structure has reduced inflation on the Ethereum blockchain by 35%. Inflation had averaged 5% a year. 1.2 million transactions a day take place on the Ethereum blockchain, moving $8.7B in volume daily and $200M monthly.

QUICK HITS Get 50% off 3 months to grow your business with customizable templates, signup tools, real-time reporting, and more.* The undersecretary of the Philippine Finance Department released a statement calling for profits generated by Axie Infinity (AXIE) and other play-to-earn games to be taxed as income. Liquid Global raised $120M in debt financing from crypto exchange FTX following a $97M crypto hack to the platform. Kate Rouch, a former Global Head of Brand and Product Marketing for Instagram, was hired by Coinbase to oversee Coinbase's global brand, product, and performance marketing. 18 of the top 25 fastest-growing public SaaS companies use Outreach. You should too. Schedule a demo today to learn more.* * Sponsored content

Upcoming Events August 31 – How to Grow SMS Subscribers Before Black Friday & Cyber Monday (Register Here)* September 2 – A SPACES Conversation with Anand Iyer (Set A Reminder) September 15 – Psychedelic Medicine: Fad or Phenom? (Register Here) September 21 – AMA with Katie Stanton of Moxxie Ventures (Register Here) September 29 – Livestream Shopping: The rise of the next billion-dollar industry (Register Here) October 6 – Design for Startups (Register Here) October 26-27 – Meet our Fund Fall ’21 Cohort (Register Here) Want to see all of our upcoming events? Visit us at https://inside.com/events DID YOU KNOW WE'RE HIRING? We have multiple positions open for 100% remote, full-time analysts. Apply or refer someone. https://bit.ly/jobs-inside-NL.

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.

Build lasting customer experiences from day one with Zendesk for Startups (free for 6 months!)

Opticon21 promises a day of high-profile speakers and industry-shaping digital leaders.

Click to Share ➞

767 Bryant St. #203, San Francisco, CA 94107 Copyright © 2021 Inside.com

Did someone forward this email to you? Head over to inside.com to get your very own free subscription! You received this email because you subscribed to Inside Cryptocurrency . Click here to unsubscribe from Inside Cryptocurrency list or manage your subscriptions.