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Crypto Global
crypto
Why Blockchain Games Keep Flopping; Inside SBF’s Crypto Empire
By
Aidan Ryan
· Oct. 5, 2022 4:07 PM PDT
Crypto investors and executives often tout gaming as one of the best use cases for non-fungible tokens. On the surface that argument makes sense, because games encourage users to compete for NFT prizes or deck out their virtual avatars with NFT-based accessories. But where are all the blockchain gamers? Axie Infinity, one of the best known...
Crypto investors and executives often tout gaming as one of the best use cases for non-fungible...
Crypto Global
crypto
What’s Next After the Great Crypto CEO Shuffle
By
Aidan Ryan
· Sept. 28, 2022 2:02 PM PDT
The crypto executive shuffle looks like it’s turning into a mass exodus. Just last week, Kraken co-founder and CEO Jesse Powell said he was stepping down from his post at the U.S.-based crypto exchange. Now, two more high-profile crypto leaders are heading for the exits—albeit each under different circumstances.
The crypto executive shuffle looks like it’s turning into a mass exodus. Just last week, ...
Crypto Global
startups
venture capital
Kraken’s Incoming CEO Wants to Reel in Retail Traders
By
Akash Pasricha
· Sept. 21, 2022 5:33 PM PDT
Kraken is going after smaller, retail crypto traders. That’s where David Ripley, the company’s incoming CEO, sees the future of the crypto exchange.I spoke with him Wednesday afternoon shortly after Jesse Powell, the company’s outspoken founder and CEO, said he was stepping down. Right now, much of the company’s sales come from transaction fees...
Kraken is going after smaller, retail crypto traders. That’s where David Ripley, the company’s...
For Crypto VCs, the Ethereum Merge Means Business As Usual
By
Akash Pasricha
· Sept. 14, 2022 4:51 PM PDT
Crypto Global
crypto
For Crypto VCs, the Ethereum Merge Means Business As Usual
By
Akash Pasricha
· Sept. 14, 2022 4:51 PM PDT
In crypto land, everyone and their uncle is talking and tweeting about the Ethereum merge, the major software update slated to happen shortly after midnight tonight. (We fielded the most pressing technical questions about the merge in our August 24 newsletter.) Much of the chatter is nervous excitement—excitement because the protocol is expected...
In crypto land, everyone and their uncle is talking and tweeting about the Ethereum merge, the...
Crypto Global
crypto
Behind Binance’s Stablecoin Shuffle; Nasdaq CEO Talks Crypto
By
Aidan Ryan
· Sept. 7, 2022 3:42 PM PDT
Binance said on Monday that it will start automatically converting customer holdings of USD Coin, a stablecoin issued by crypto payment firm Circle, into its own stablecoin, Binance USD. (Binance will also do the same for two less widely used stablecoins.)What does this abrupt change by the world’s biggest crypto exchange actually mean? Let’s...
Binance said on Monday that it will start automatically converting customer holdings of USD Coin,...
Crypto Global
crypto
The SEC’s Escalating Crypto Crackdown; Exclusive: Bill Qian’s New Role
By
Aidan Ryan
· Aug. 31, 2022 1:27 PM PDT
If you’re a subscriber to this newsletter, you likely already know that those in the crypto industry aren’t huge fans of the U.S. Securities and Exchange Commission and its chair, Gary Gensler. That’s because the SEC has taken the view, especially during Gensler’s tenure, that many tokens are securities and thus under its purview. That...
If you’re a subscriber to this newsletter, you likely already know that those in the crypto...
Crypto Global
startups
venture capital
Who’s Cashing In on the Ethereum Merge
By
Akash Pasricha
· Aug. 24, 2022 3:52 PM PDT
The crypto community is abuzz this week with all things “merge,” the looming date when the Ethereum blockchain will transition from proof of work to proof of stake. If that language is still gobbledygook to you, don’t worry, we’ll break it down below. But the question we’re asking today is: Which crypto companies will benefit most from the...
The crypto community is abuzz this week with all things “merge,” the looming date when the...
Why Galaxy Digital May Be Backing Out of BitGo
By
Akash Pasricha
· Aug. 17, 2022 3:14 PM PDT
Crypto Global
crypto
Why Galaxy Digital May Be Backing Out of BitGo
By
Akash Pasricha
· Aug. 17, 2022 3:14 PM PDT
The crypto world may get its own Elon Musk vs. Twitter-esque legal battle! Well, it might not be quite as grand, but here it is: BitGo, a crypto custodian and financial services platform for institutional investors, is threatening to sue a much larger crypto financial services firm, Galaxy Digital, after the latter pulled out of last year’s $1.2...
The crypto world may get its own Elon Musk vs. Twitter-esque legal battle! Well, it might not be...
Crypto Global
policy
crypto
Coinbase Will Need Its Cash to Fend Off the Competition
By
Akash Pasricha
· Aug. 10, 2022 4:13 PM PDT
There was a lot to take away from Coinbase’s grim earnings report from Tuesday night. So let’s get right into it.The Numbers: Coinbase put up a net loss of $1.1 billion—its widest quarterly loss since at least 2019. Quarterly revenue ($803 million) was the lowest it’s been since late 2020, and yet quarterly operating expenses ($1.85 billion)...
There was a lot to take away from Coinbase’s grim earnings report from Tuesday night. So let’s...
Crypto Global
crypto
Robinhood’s Rough Week; Haun Ventures Marketing Chief Gets Political
By
Aidan Ryan
· Aug. 3, 2022 4:20 PM PDT
Where does Robinhood go from here?It’s been a tough week for the stock and crypto trading firm. On Monday, the New York State Department of Financial Services fined Robinhood $30 million in the department’s first crypto-related enforcement move, alleging anti-money laundering, cybersecurity and consumer protection violations.
Where does Robinhood go from here?It’s been a tough week for the stock and crypto trading firm....
Crypto Global
crypto
The SEC Has a Point, But So Does Coinbase
By
Akash Pasricha
· July 27, 2022 4:21 PM PDT
If you follow crypto, you probably find yourself becoming an expert in a few different fields, depending on the day. One day you’re an engineer, the next day you’re an art enthusiast. Some weeks you’re a trader, and this week, you were likely a securities lawyer. It’s been a dizzying week of developments around Coinbase. Its stock has...
If you follow crypto, you probably find yourself becoming an expert in a few different fields,...
Crypto Gets a Lesson in Macroeconomics
By
Akash Pasricha
· July 20, 2022 4:31 PM PDT
Crypto Global
crypto
Crypto Gets a Lesson in Macroeconomics
By
Akash Pasricha
· July 20, 2022 4:31 PM PDT
Some data points in crypto really just stump you. Here’s one: Since Coinbase opened its NFT Marketplace to the public on May 4, it has processed roughly $3.1 million in transactions, according to a dashboard on Dune Analytics. GameStop, on the other hand, launched its NFT marketplace nine days ago on July 11, and it has processed more than $8.2...
Some data points in crypto really just stump you. Here’s one: Since Coinbase opened its NFT...
Crypto Global
crypto
Despite a Market Meltdown, the Crypto Winter in Venture May Be Short Lived
By
Akash Pasricha
· July 13, 2022 5:21 PM PDT ·
1 comment
Talking to crypto venture capitalists these days feels a bit like talking to hockey players on the car ride home from the last big tournament of the season. There was a lot of action in a really short period of time. The stands were full and everyone was watching. There were winners and there were losers. Now it’s summer and everyone’s resting...
Talking to crypto venture capitalists these days feels a bit like talking to hockey players on...
Crypto Global
crypto
Bankrupt Crypto Lenders Aren't a Blockchain Problem
By
Akash Pasricha
· July 6, 2022 2:31 PM PDT
Crypto has been really quiet this week (sarcasm!), so let’s get the headlines on paper first:Voyager Digital, a New York-based crypto lending company, filed for Chapter 11 bankruptcy on Wednesday. The company has $654 million in outstanding loans to Three Arrows Capital, the crypto hedge fund that a British Virgin Islands court ordered to...
Crypto has been really quiet this week (sarcasm!), so let’s get the headlines on paper first:...
Crypto Global
crypto
What’s Next After the Three Arrows Meltdown
By
Aidan Ryan
· June 29, 2022 3:12 PM PDT
Hopes of a near-term recovery in crypto prices have all but vanished. Now, all eyes are on liquidity crises playing out at crypto lending firms like Celsius and BlockFi as well as the crypto hedge fund Three Arrows Capital.The latest: Sky News reported on Wednesday that a court in the British Virgin Islands has ordered the liquidation of Three...
Hopes of a near-term recovery in crypto prices have all but vanished. Now, all eyes are on...
FalconX Deal a Bright Spot in Bleak Market for Crypto
By
Aidan Ryan
· June 22, 2022 1:59 PM PDT
Crypto Global
crypto
FalconX Deal a Bright Spot in Bleak Market for Crypto
By
Aidan Ryan
· June 22, 2022 1:59 PM PDT
It’s been a rough couple of weeks for crypto companies as token prices have dropped, bellwethers such as Coinbase have laid off staff, and the crash in two cryptocurrencies—terraUSD and luna—has trashed confidence in digital assets. But some startups have been able to lock in new funding rounds or deals. FalconX on Wednesday said it raised...
It’s been a rough couple of weeks for crypto companies as token prices have dropped, bellwethers...
Crypto Global
crypto
What the Celsius Freeze Could Mean for Crypto; Recapping Coinbase’s Turbulent Month
By
Aidan Ryan
· June 15, 2022 2:44 PM PDT
As crypto prices continue to plunge, all eyes are on big crypto investors and the lenders that helped speculative investors juice their bets. Trouble in recent days at crypto lender Celsius and crypto hedge fund Three Arrows Capital has placed the industry on edge just weeks after the implosion of the algorithmic stablecoin TerraUSD—in turn...
As crypto prices continue to plunge, all eyes are on big crypto investors and the lenders that...
Crypto Global
crypto
Crypto Recruiters Feel the Chill; Breaking Down the Digital Asset Bill
By
Aidan Ryan
· June 8, 2022 1:10 PM PDT
Over the past few weeks, we’ve been covering the downturn in crypto prices and how that’s affecting crypto companies. For some, it’s triggered layoffs and hiring freezes. But as my story on Tuesday this week shows, there’s also an effect on the broader ecosystem of firms that have helped facilitate the massive growth in the industry. For...
Over the past few weeks, we’ve been covering the downturn in crypto prices and how that’s...
Crypto Global
crypto
Why B2B Blockchain Startups May Fare Better in a Bear Market
By
Akash Pasricha
· June 1, 2022 4:11 PM PDT
Stablecoins and decentralized finance have all dominated headlines in the past month. But ultimately, finance and payments still represent just one category of crypto startups. Founders are working on applying blockchain in several other ways, too.
Stablecoins and decentralized finance have all dominated headlines in the past month. But...
What Binance Labs Is Telling Founders Amid Downturn; Haun Ventures Adds to Deal Team
By
Aidan Ryan
· May 25, 2022 1:15 PM PDT
Crypto Global
crypto
What Binance Labs Is Telling Founders Amid Downturn; Haun Ventures Adds to Deal Team
By
Aidan Ryan
· May 25, 2022 1:15 PM PDT
Investors haven’t been shy about warning founders that the next crypto winter is upon us—though most are spinning the downturn as a big opportunity for those that can weather the storm to come out even stronger. Andreessen Horowitz seemed to prove this logic right, at least as far as funding opportunities go, when it announced its mega new $4.5...
Investors haven’t been shy about warning founders that the next crypto winter is upon us—though...
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