Record-Breaking Crypto Fund. Weekly Newsletter #002
Record-breaking funding rounds, companies buying stakes in other organizations, and more.
Today we will talk about record-breaking funding rounds, companies buying stakes in other organizations, and some other significant news that happened over the past week in crypto.
But first, let us take a look at the market summary.
Despite setting another record red candlestick in a row, Bitcoin recovers at the beginning of the week. The asset currently sits at $30,598, with a market dominance of 46.19%.
The average 7-day ROI of the crypto market is +2.53%, with BTC being the biggest winner among the top 10 crypto assets with a +5.18% gain. Solana on the other hand loses -6.66%.
Tether, USDC, and BUSD, which are the top 3 stablecoins keep their market caps almost untouched compared to last week. Their peg remains stable.
The New Largest Crypto Fund Raised At $4.5B
On May 25, 2022, Andreessen Horowitz (a16z) announced that it had successfully raised its fourth crypto fund. At $4.5B, this is the largest private crypto venture round to date.
The firm has been investing in cryptocurrency projects since 2013, and they currently manage over $7.6B in digital assets. Their main plan for using that capital is to invest in Web3 startups like those in the DeFi and dApps space.
FTX To Invest Billions In Other Projects
Rapidly expanding cryptocurrency exchange FTX is prepared to spend billions to acquire stakes in other companies, according to its CEO Sam Bankman-Fried. The company already has a significant stake in IEX Group Inc., and they also recently announced they acquired a 7.6% stakeholding in Robinhood Markets Inc.
JPMorgan Prefers Crypto Over Real Estate
JPMorgan, a global investment bank, published a favorable note on cryptocurrencies. The bank’s strategists wrote that the past month’s crypto market correction appears more like capitulation, and they anticipate an upward trend for Bitcoin and crypto markets in general.
In addition to hedge funds, the company has declared cryptocurrency to be its preferred alternative asset class instead of real estate.
- Leading Bank Of Thailand Enters DeFi
- U.S. Sec Rejects Carbon-Neutral Bitcoin ETF by One River
- UK Crypto Hedge Fund Saves Investors a Lot of Money
- SpaceX Joins Tesla In Accepting Dogecoin Payments
- Coinbase at Center of Court Crypto Security Dispute
- Tether Launches Mexican Peso Stablecoin
- Ethereum Transaction Fees Hit a 10-Month Low At $3
You can read our latest case study on how AI trading robots handle a -50% Ethereum crash compared to traditional strategies like holding and dollar-cost-averaging:
One Button performance
Aggregated return of OB Capital vs BTC and ETH
Aggregated performance of all trading strategies currently active at One Button Capital exceeded the returns from Bitcoin (BTC) and Ethereum (ETH) by +12.98% and +18.00% respectively over the last 30 days.
Top-performing market pairs
The best performing market pair for our trading strategies in the last 7 days is CRV: USDT with +5.88% return, followed closely by BTC: EUR with +3.89%. All three top earners for the week are made from the Performer v2 strategy, and these are its average returns:
In the last week, our engineering team made the following changes to the OB Capital app:
May 26, 2022
- Adding baseline for performance comparison on the AI performance chart
May 25, 2022
- Improving service email deliverability
- Resolved duration (”active for”) formatting on the public statistics
- Resolved missing date period on the Binance API credentials expiration email
May 24, 2022
- Resolved branding issues for the platform’s progressive web application (mobile)
Experts predict that the global crypto owners count can hit 1 billion by the end of 2022.
To support the industry’s rapid growth, big institutions are raising capital that they then reinvest into Web3 startups and DeFi projects.
Some companies even insure themselves by acquiring stakes in other firms, thus increasing the stability of their portfolio. We wait to see how these moves will affect the crypto market over the following months and if the big players were correct with their bullish actions.
Max Yampolsky, CEO at One Button Capital
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.