The White House is expected to release an executive order in the coming days regarding cryptocurrency. The order is expected to direct several government agencies to conduct a broad review of cryptocurrencies, including the potential creation of a U.S. digital currency. The agencies will have 3-6 months to conduct the review and prepare a public report with recommendations regarding the federal government's approach to digital tokens. More: - The Treasury Department will be tasked with studying the creation of a U.S. DC and reviewing the possible risks cryptocurrencies pose to broader financial stability and potential national security risks.
- The Treasury Department will work with the SEC, the FTC, and the Commodity Futures Trading Commission to analyze the risks cryptocurrencies pose to consumers.
- The Justice Department will review whether Congress should pass new legislation for a central-bank digital currency.
- The Office of Science and Technology Policy at the White House will be tasked with looking into technical considerations of creating a U.S. DC.
- Regulators within the Biden Administration will review the environmental impact of mining cryptocurrencies and how cryptocurrencies shape economic competitiveness, along with how U.S. foreign allies approach digital assets.
| |
Bain Capital, the investment firm with ~$155B in AUM, has launched a $560M fund to invest exclusively in crypto. According to Bain Capital Ventures partner Stefan Cohen, the new fund, Bain Capital Crypto, will be oriented around early-stage investing, including liquid tokens. More: - The fund is broadly interested in DeFi and Web 3 with a specific focus on protocols and their native tokens.
- Bain Capital Crypto has already deployed ~$100M primarily into pre-launch protocol projects.
- The fund's priority is to invest in infrastructure, meaning layer 1 scaling solutions, privacy, middleware, storage, etc.
- The firm plans to contribute to the governance of the projects they invest in.
| |
 A message from DOMAIN MONEY Investing, expertly solved for you. Domain Money provides professionally managed wealth-building strategies. - Blend of stock and crypto assets designed for long-term growth
- Hand-selected stocks and cryptocurrencies from our experienced Investment team
- Focus on fundamentals, sound investment methodologies, and growth
- Strategies include: all stocks, all crypto, a combination of stocks and crypto, and one strategy focused on the metaverse
Invest Today Domain Money Strategies are managed by Domain Money Advisors, LLC, an investment advisor registered with the U.S. Securities and Exchange Commission. Investing comes with inherent risks and you should always invest within your means and risk tolerance. Past performance is not an indication of future returns For important disclosures, please see https://domainmoney.com/legal.
| |
 The Ethereum Name Service (ENS) DAO has voted to reinstate its director of operations, Brantly Millegan. Millegan was removed as a steward from the DAO and the non-profit that governs ENS after an anti-gay and anti-trans tweet of his from 2016 resurfaced. More: - 1.4 million votes were cast to retain Millegan as the DAO's director of operations versus 1.2 million votes to remove him.
- The DAO vote was based on one vote per token.
- Millegan, who is one of ENS's largest token holders, was able to vote against his ousting.
- He controlled 363,000 votes, which is greater than his margin of victory.
- Another large token holder, ENS founder Nick Johnson, abstained from the vote.
- Johnson initially defended Millegan and assisted him in getting his message across after he was banned from Twitter.
- Johnson eventually succumbed to public pressure and terminated Millegan's contract with True Names Limited, the non-profit behind ENS.
Brantly Millegan's controversial tweet
| |
Coinbase founder and CEO Brian Armstrong chimed in on the discussion around crypto being used to avoid sanctions. This follows Coinbase's move to not ban Russian citizens despite fears that it will allow the country to circumvent sanctions. Key takeaways: - Sanctions laws apply to all U.S. companies, including Coinbase, and the company will comply with these laws if necessary but will not preemptively ban Russians.
- Armstrong and Coinbase don't think there is a high risk that Russian oligarchs will successfully avoid sanctions because moving money through crypto rails is actually more traceable than using cash, art, gold, etc.
- Many Russians are using crypto as a lifeline amid the crashing ruble.
| |
 A message from MALWAREBYTES Secure success for 2022 with AI-powered cyberprotection. Remote workforces continue to raise security concerns for businesses. Remote workforces make easy targets for cybercriminals. - 1 out of 5 businesses experienced a remote-worker related security breach
- 28% of people admitted using their personal device for work more than their work-issued device
Secure success in 2022 Prepare your team—and all the devices they use—against ransomware, security breaches, and other cyberattacks with easy-to-use tools designed for growing businesses. Outsmart cyberattacks and avoid downtime with Malwarebytes Endpoint Detection and Response with 72-hour ransomware rollback recovery. Get started today with 25% off your first year of EP, EDR and server protection. Learn More
| |
Numerous tokens are seeing their price drop as superstar developer Andre Cronje announces that he is "retiring" from DeFi. Cronje became famous as the driving force behind Yearn Finance before moving on to the Fantom ecosystem. More: - The announcement was made by Cronje's frequent collaborator, Anton Nell.
- Cronje preceded the announcement by deleting his Twitter account and updating his LinkedIn to reflect that he was no longer advising Fantom Foundation.
- Two tokens founded by Cronje, AMM Solidly and lending platform Iron Bank, both dropped over 50%
- A slew of tokens with very little connection to Cronje like Spookyswap, Liquid Driver, Tomb, and Geist Finance all still dropped significantly on the news.
| |
| |
| |
UPCOMING EVENTS - March 08 - Digital Identity in the Age of Virtual Worlds with David Lucatch (Liquid Avatar) (Register Here)
- March 08 - Venturing in VC - Episode #10 with Alda Leu Dennis (Initialized Capital) (Register Here)
- March 10 - NoCode's impact on the Gig Economy with Sharath Kuruganty (Register Here)
- March 15 - Venturing in VC - Episode #11 with David Thacker (Greylock Partners) (Register Here)
- March 17 - Understanding Million Dollar Virtual Real Estate with Neil Mandt (Metaverse Rights) (Register Here)
- March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here)
- March 31 - How To Build In Web 3.0 (Register Here)
- April 04 - Blockchain and the Law (Register Here)
- April 06 - Entertainment in the Metaverse (Register Here)
- April 14 - Shopping In The Metaverse (Register Here)
- April 28 - Alternative Investments 2: Crypto Safety Standards (Register Here)
| |
 |  | Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering. Connect with him on Twitter @trevorisonline |   | | 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. | |
| |
| |
