A Good Day for Crypto Fundraising

Happy Tuesday!

The Lede

You might have heard the big news today.

SBF @SBF_Alameda

1) I'm deeply humbled by the support we've gotten from our new partners:

forbes.comBitcoin Alert: Biggest Private Crypto Deal Ever Is ClosedThe deal will likely boost the net worth of its billionaire founder and CEO, Sam Bankman-Fried, by nearly $8 billion.

As you might imagine, we’re pretty excited. You can read more about our plans in one of the pieces covering the news. For us, maybe the most exciting thing about the raise is this big set of new partners to build with.

We also loved this take from Crypto Twitter.

Yano @JasonYanowitz

Crypto companies raised more than $1 billion in ONE DAY and you’re still bearish?

It is building season. Let’s do this thing

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Highly Relevant Reading

• OpenSea valued at $1.5B after latest raise

• MasterCard testing out USDC settlement

• EU looking to get stricter on crypto AML

• The first clean energy crypto mining ETF

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Community Commentary

Dorsey v. Elon? Should be fun to watch

ARK Invest @ARKInvest

Tomorrow at #TheBWord, @CathieDWood, @jack, and @elonmusk weigh in on #Bitcoin as a tool for economic empowerment. Don't miss this live discussion panel! 𝐍𝐨𝐨𝐧 𝐄𝐓 | 𝐅𝐮𝐥𝐥 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 & 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧: arkinv.st/3ziKc0l

DeFi moving to the institutional world

Yano @JasonYanowitz

BREAKING: Grayscale has launched a DeFi fund Fund allocation below: Uniswap: 50% Aave: 10% Compound: 8% Curve: 7.5% MakerDAO: 6.5% SushiSwap: 5% Synthetix: 4% Yearn: 3% UMA: 3% Bancor: 2%

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A Really Big Number We Should Be Paying Attention To

61%

That’s how much of USDC reserves are held in cash and cash equivalents. Great transparency boost from Circle.

John Paul Koning @jp_koning

Great news. USDC's latest attestation report has a full breakdown of its investments and plenty of explanatory notes to help address further questions. In terms of transparency, the other stablecoins now have some catching up to do. centre.io/hubfs/pdfs/att…

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Final Thought

Oh btw

Blockfolio @blockfolio

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