Alpaca Finance Institutional Newsletter #2
During the Jackson Hole summit, the Fed’s hawkish statements saw crypto markets breaking below the $1 trillion total market cap milestone for the first time in a while, signaling there may be more uncertain times ahead of us. Regardless of the market headwinds though, under the surface, prominent players are positioning themselves for power in various ways.
Global traditional and investment-focused banks are making key personnel and business acquisitions, indicating to the market their beliefs about the importance crypto will play in the short-term future. However, the knock-on effect of bad actors is keeping centralized entities under scrutiny, which will likely continue until large insolvencies such as Three Arrows Capital and Celsius come to resolutions. Even so, funding remains strong with more tradfi announcements such as public listings and SPAC deals, alongside the seemingly weekly 8-figure Web3 announcement.
News
- Ethereum Could Get Kicked Off Cloud Host That Powers 10% of Crypto Network
- Crypto Exchange Binance to Help S. Korean City of Busan Develop Its Blockchain Industry
- Investment Bank Cowen Nabs 2 Crypto Hires for Digital Asset Team
- Cboe Digital Names Jump Crypto, Robinhood and DRW Among Expected Equity Partners
- FTX Posted $1 Billion in Revenue Last Year Amid Crypto Rally
Regulation
- Australia to Use ‘Token Mapping’ as Framework for Crypto Regulation
- Crypto Exchange CoinSwitch Kuber Searched by Indian Authorities
- Celsius Depositors Fracture Again on Legal Strategy as ‘Withhold’ Group Lawyers Up
- Singapore High Court Recognizes Three Arrows Capital Liquidation Order
Products
- Reddit Starts Airdrop of Polygon-Based ‘Collectible Avatars’
- Coinbase Adds Nano Ether Futures to Derivatives Platform for Retail Traders
- China’s Ant Group to Work With Malaysian Investment Bank Kenanga on Crypto ‘SuperApp’
- Wall Street Giant DTCC Launches Private Blockchain in Big Crypto-Milestone for TradFi
Funding
- Siam Commercial Bank Scraps $500M Purchase of Stake in Thailand’s Largest Crypto Exchange
- Crypto ATM Operator Bitcoin Depot to List on Nasdaq in $885M SPAC Deal
- Animoca Brands’ Japan Unit Raises $45M for NFT Licensing, Investment
- Polygon Founder’s Crypto VC Firm Raises $50M Fund
