The Big Read: The Master of Destruction Rides Again
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Crypto Global
crypto
Cowen’s Crypto Launch Highlights Growing Role of Crypto Custodian Startups
By
Akash Pasricha
· March 23, 2022 5:45 PM PDT
Every week, Wall Street warms up a little more to crypto. On Wednesday, New York investment bank Cowen Inc. launched a digital assets arm dubbed Cowen Digital to trade 16 different cryptocurrencies on behalf of its clients. It tapped its former head of derivatives sales and trading, Drew Forman, to run the group. And like a growing number of...
Every week, Wall Street warms up a little more to crypto. On Wednesday, New York investment bank...
Crypto Global
crypto
FTX’s New Gaming Exec Aims to Develop ‘Crypto as a Service’ for Publishers
By
Aidan Ryan
· March 22, 2022 5:39 PM PDT
Steve Sadin, the former vice president and studio head at WB Games Boston, joined FTX earlier this month to lead gaming partnerships for the fast-growing crypto exchange. I spoke to Sadin via Zoom about the news Tuesday that FTX’s U.S. affiliate was buying Good Luck Games, the publisher of digital card game “Storybook Brawl.”Sadin said one of...
Steve Sadin, the former vice president and studio head at WB Games Boston, joined FTX earlier...
Crypto Global
crypto
Compound Labs CEO on How Interest Rate Hikes Will Buoy Crypto Lending
By
Aidan Ryan
· March 21, 2022 5:25 PM PDT
Federal Reserve interest rate hikes should do more than just raise the costs of credit card loans. They should also boost investors’ demand to earn money from lending their crypto holdings to other investors. Crypto lending, or yield farming, is already a booming activity offered by startups specializing in decentralized finance. It’s also...
Federal Reserve interest rate hikes should do more than just raise the costs of credit card...
A Deeper Look at Gemini’s Investment Strategy; Inside The Crypto-Crazed SXSW
By
Aidan Ryan
· March 17, 2022 4:20 PM PDT
Crypto Global
crypto
A Deeper Look at Gemini’s Investment Strategy; Inside The Crypto-Crazed SXSW
By
Aidan Ryan
· March 17, 2022 4:20 PM PDT
In case you missed it, my story today shows the increasing number of crypto companies that have launched VC arms. Out of the top 25 most valuable crypto companies, 20 have made at least one investment and 15 have launched or plan to launch venture arms to make investments in other startups. Just in the past year, eight of the 15 companies...
In case you missed it, my story today shows the increasing number of crypto companies that...
Crypto Global
crypto
Ripple to Give Out $794 Million of Tokens for Developers; Recapping Yuga Labs’ Big Year
By
Aidan Ryan
· March 16, 2022 6:03 PM PDT
Ripple will give out 1 billion of its XRP tokens as grants for developers to create projects based on its payments-oriented distributed ledger, the company’s representatives told The Information. Based on the value of the digital currency, XRP, that translates to $794 million in tokens, which Ripple says it will disperse over the next 10...
Ripple will give out 1 billion of its XRP tokens as grants for developers to create ...
Crypto Global
crypto
ConsenSys’s MetaMask Growth Drives $7 Billion Valuation
By
Akash Pasricha
· March 15, 2022 6:18 PM PDT
To anyone wondering if the months-long crypto slump that tanked token prices is holding back investments in blockchain startups, ConsenSys’s whopping $450 million Series D fundraising, at a $7 billion post-money valuation, provides a partial answer.The New York company more than doubled its valuation since its previous funding round in November,...
To anyone wondering if the months-long crypto slump that tanked token prices is holding back...
Crypto Global
crypto
FTX Ventures’ Amy Wu on Startup Valuations and Rate Hikes; Stellar Foundation Backs Early Stage Startups
By
Akash Pasricha
· March 14, 2022 6:20 PM PDT
The Federal Reserve is expected to raise the federal funds target rate this week by a quarter percentage point, from 0%-0.25%, and major banks have forecast it will steadily raise rates to as high as 2% this year. One way of valuing companies, using discounted cash flows, suggests these rising rates should compress private valuations even among...
The Federal Reserve is expected to raise the federal funds target rate this week by a quarter...
LimeWire Adds to Brands Launching NFT Efforts; Stripe Digs Deeper into Crypto
By
Aidan Ryan
· March 10, 2022 4:44 PM PST
Crypto Global
crypto
LimeWire Adds to Brands Launching NFT Efforts; Stripe Digs Deeper into Crypto
By
Aidan Ryan
· March 10, 2022 4:44 PM PST
One main takeaway from my conversation with Volition Capital founding partner and GameStop board member Larry Cheng—published in yesterday’s edition of Crypto Global—is that a strong sense of community is vital to successful NFT initiatives. “You either have to have a very engaged community or you have to have the capacity to build one,” he...
One main takeaway from my conversation with Volition Capital founding partner and GameStop board...
Crypto Global
crypto
Volition Capital’s Larry Cheng Is Coming Around to Crypto; Bain’s Botched Announcement
By
Aidan Ryan
· March 9, 2022 4:20 PM PST
At this point, it feels like a new venture fund dedicated to crypto is launching every week. But not all investors are completely on board yet. Larry Cheng, a founding partner of 12-year-old Volition Capital and an early investor in pet company Chewy, told me he started out as a real skeptic about the crypto and Web3 sectors. But after...
At this point, it feels like a new venture fund dedicated to crypto is launching every week. But...
Crypto Global
crypto
Bain Capital Ventures Launches Crypto Fund; Crypto Meets Drug Development
By
Akash Pasricha
· March 8, 2022 5:48 PM PST ·
1 comment
Another week, another gigantic crypto fund. Bain Capital Ventures (BCV) is the latest to join the fray, unveiling a $560 million fund on Tuesday dedicated to crypto investments. The new fund brands itself as Bain Capital Crypto (BCC), separate from BCV, which is a limited partner in the new fund. The crypto fund has backed 12 startups to...
Another week, another gigantic crypto fund. Bain Capital Ventures (BCV) is the latest to join the...
Crypto Global
crypto
FTX’s European Expansion by the Numbers; Another Mega NFT Startup Valuation
By
Akash Pasricha
· March 7, 2022 5:44 PM PST
FTX is expanding into Europe. The cryptocurrency exchange, which ranks as the third largest globally based on daily spot-trading volume, opened its trading platform to Europe on Monday. To learn why FTX is heading to Europe despite the current geopolitical climate, I calculated how big this market could be for the company.
FTX is expanding into Europe. The cryptocurrency exchange, which ranks as the third largest...
The Big Deal Over Staking-Startup Lido; Serena Williams’ Diversity-Driven $111 Million Fund
By
Akash Pasricha
· March 3, 2022 6:45 PM PST
Crypto Global
crypto
The Big Deal Over Staking-Startup Lido; Serena Williams’ Diversity-Driven $111 Million Fund
By
Akash Pasricha
· March 3, 2022 6:45 PM PST
On Thursday, Andreessen Horowitz announced it was investing $70 million in Lido, a startup that makes money “staking” for blockchain protocols. What’s noteworthy is that Andreessen Horowitz did this deal alone, a sign of its confidence. So we decided to break down the business model.The situation: Many newer blockchains rely on a process called...
On Thursday, Andreessen Horowitz announced it was investing $70 million in Lido, a startup that...
Crypto Global
crypto
The Ukraine Lawyer Trying to Freeze Russians’ Crypto Wallets
By
Aidan Ryan
· March 2, 2022 6:03 PM PST
Ukraine’s embattled government has called on crypto exchanges to block Russian users from using their crypto wallets to try to evade global sanctions. To find out how that effort is working, I talked to a Ukrainian lawyer who has been helping collect information about the crypto assets of Russian politicians.“This is our personal war, because,...
Ukraine’s embattled government has called on crypto exchanges to block Russian users from using...
Crypto Global
crypto
These Startup Founders and Investors Are Crypto’s Rising Stars
By
Aidan Ryan
· March 1, 2022 4:40 PM PST
On Tuesday morning, we announced The Information’s inaugural Crypto Power List. We spoke to dozens of our closest contacts in the sector and put together our view of the 10 founders, 10 investors and 10 up-and-comers with the most power in the industry.Some of the names you may recognize. The heads of the major crypto exchanges—Coinbase, Binance...
On Tuesday morning, we announced The Information’s inaugural Crypto Power List. We spoke to...
Crypto Global
crypto
startups
The Startup Founders Who Made Ukraine a Crypto Stronghold
By
Aidan Ryan
· Feb. 28, 2022 5:45 PM PST
As Ukraine crowdsources millions of dollars worth of digital currency to fund its defense against Russia, the nation’s early adoption of crypto appears to be paying dividends. Ukraine’s government has so far raised more than $13 million worth of bitcoin and other tokens, according to data from Elliptic. “Stand with the people of...
As Ukraine crowdsources millions of dollars worth of digital currency to fund its defense against...
Crypto Reacts to Russia Invading Ukraine; Coinbase and Block Report Q4 Results
By
Aidan Ryan
· Feb. 24, 2022 5:38 PM PST
Crypto Global
crypto
Crypto Reacts to Russia Invading Ukraine; Coinbase and Block Report Q4 Results
By
Aidan Ryan
· Feb. 24, 2022 5:38 PM PST
The world is starting to digest the news that Russia has begun a full-scale invasion of Ukraine, the largest military action in Europe since World War II. Global financial markets reacted almost immediately, with the tech-heavy Nasdaq opening 3.5% down, before eventually rebounding to finish the day up 3%.But traders weren’t the only ones...
The world is starting to digest the news that Russia has begun a full-scale invasion of Ukraine,...
Crypto Global
crypto
Block’s Earnings Preview; Who’s Decamped to Web3 Firms in 2022
By
Aidan Ryan
· Feb. 23, 2022 5:30 PM PST
All eyes are on CEO Jack Dorsey as Block announces its earnings after the close of the market on Thursday. It’s the first report since the company changed its name from Square to Block in early December.Analysts polled by S&P Market Intelligence forecast Block will generate $4.06 billion in revenue, up 29% from the fourth quarter of 2020....
All eyes are on CEO Jack Dorsey as Block announces its earnings after the close of the market on...
Crypto Global
crypto
What to Expect From Coinbase Earnings; More on the OpenSea Hack
By
Aidan Ryan
· Feb. 22, 2022 6:06 PM PST
It’s a big week for crypto earnings, with Block and Coinbase both releasing their 2021 fourth-quarter results on Thursday. Today, we preview what to expect from Coinbase’s earnings call. Analysts expect fourth-quarter revenue of $1.98 billion, a nearly 300% increase from the fourth quarter of 2020, according to a regulatory filing. Analysts...
It’s a big week for crypto earnings, with Block and Coinbase both releasing their 2021...
Crypto Global
crypto
startups
What Sequoia’s New Fund Says About its Crypto Ambitions
By
Aidan Ryan
· Feb. 17, 2022 5:30 PM PST
Sequoia Capital’s announcement Thursday that it was raising between $500 million and $600 million for a new fund focused exclusively on cryptocurrency startups is notable for a few reasons. The Menlo Park, Calif.-based firm had already signaled its intent to go deep on crypto last year, allocating 20% of its new investments to the sector. The...
Sequoia Capital’s announcement Thursday that it was raising between $500 million and $600 million...
No, Warren Buffett Didn’t Just Invest $1 Billion in Crypto; Snoop Dogg’s NFT Record Label
By
Akash Pasricha
· Feb. 16, 2022 5:57 PM PST
Crypto Global
crypto
No, Warren Buffett Didn’t Just Invest $1 Billion in Crypto; Snoop Dogg’s NFT Record Label
By
Akash Pasricha
· Feb. 16, 2022 5:57 PM PST
Warren Buffett once famously called bitcoin “rat poison squared.” And despite the frenzy of media coverage this week about Berkshire Hathaway upping its stake in Nubank, a Brazilian digital bank, Buffett probably hasn’t changed his tune as much as people think. With a market capitalization of more than $40 billion, Nubank is one of...
Warren Buffett once famously called bitcoin “rat poison squared.” And despite the frenzy of...
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