🙇♂️This Week's Most Exciting Crypto News
gm frens 🙋♂️
For all of those you who might’ve missed my newsletter sent out daily, because you had something urgent to do or you said you will go back to it but you never did, I will be listing here the most exciting crypto news that happened over the week, so at least you have a general idea on what happened.
We started the week with opinions of regulators about crypto space and argued whether BTC can go as low as $8k. Then we followed up with the details on StepN, a Solana NFT based project which has been hyped lately.
If you feel like you are ready to go through it, here’s the link below.
There was this State of Crypto Report released by a16z. Chances are high you know about a16z, they are a huge VC firm ($28 billion assets under management).
In this report, they have covered topics on:
web3 (web3: read, write, own)
DeFi (Total Value Locked in DeFi is currently sitting at ~ $200 billion)
Stablecoins (Fiat backed, Crypto backed and Algorithmic stablecoins)
NFTs (currently sitting at $1.3 billion weekly sales volume)
Web3 Gaming (49% of crypto wallet activity comes from games)
DAOs (Decentralized autonomous organization)
We did a quick summary for the 56 report page with some really interesting stats. If you are in a mood to go over it, check it out below.
Last, but not the least, the over discussed topic about Luna. Apparently, Luna 2.0 is happening today. Through an airdrop. We did write in depth on who is going to benefit from this airdrop and how tokens will be distributed.
Apparently, distribution will look like the below.
Token Distribution
Community pool: 30%
Pre-attack LUNA holders: 35%
Pre-attack aUST holders: 10%
Post-attack LUNA holders: 10%
Post-attack UST holders: 15%
If you fancy reading the entire newsletter, then you are more than welcome to do so.
📰 Other news in space
JPMorgan backs bitcoin to rise 28% and says cryptocurrencies are now its preferred alternative asset
a16z raises a new $4.5 billion crypto fund - As per their comment, “We’ve been investing in crypto since 2013, and today we’re announcing our fourth crypto fund, totaling $4.5B. Of that, approximately $1.5B will be dedicated to seed investments, and $3B to venture investments. This brings our total crypto/web3 funds raised to over $7.6B.”
Andreessen Horowitz raises $600M venture fund for games
Crypto collapse ‘wake-up call' and 'opportunity to reset,’ top bank regulator says
Crypto Exchanges Including Binance, FTX To Support 'Terra 2.0' Relaunch