Blueprint: Coinbase's market outlook; South Korean super app Toss gets $405MM; Indian fintech Money View valued at $900MM
Hi Fintech Futurists —
Given the holiday break this week we are combining the Short Takes and Web3 Weekly, giving you all the top news across fintech and Web3 in one place.
Here’s that handy upgrade button to access the Long Takes — a rigorous view on the future of our industry. Level up your Fintech and DeFi knowledge. 👇👇👇
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Top Stories
⭐ 2023 Crypto Market Outlook - Coinbase Institutional
⭐ South Korean financial super app Toss closes $405M Series G as valuation rises 7% - TechCrunch
⭐ Indian fintech Money View valued at $900 million in new funding - TechCrunch
DeFi Protocols And Digital Assets
⭐ Dapp Industry Report 2022 - DappRadar
Debit, Credit Cards, Bank Accounts Coming To Uniswap - Blockworks
OKX Proof-Of-Reserve Report Shows 101% Bitcoin, Tether Reserves - Decrypt
Can Crypto Credit Cards And Self-Custody Mix? - Blockworks
CME Group, CF Benchmarks launch new DeFi reference rates for Aave, Curve and Synthetix - The Block
Raydium Announces Details Of Hack, Proposes Compensation For Victims - Cointelegraph
Hardware Wallet Startup Cypherock Raises $1MM To Skip Seed Phrases - The Block
Cryptoeconomics And Blockchain Protocols
⭐ Hashflow: A DEX for Bridgeless Cross-chain Swaps, Zero Slippage, and MEV-protected Trades - ConsenSys
Immunefi Says It Has Facilitated $66MM In Bug Bounties Since Inception - Cointelegraph
DEX Aggregator OpenOcean Enables Cross-Chain Swaps Across Major Networks - Cointelegraph
Paxos Recovers $20MM In Gold Tokens Stolen In The FTX Hack - The Block
DAOs, NFTs And The Metaverse
⭐ MetaMask Swap Expands To Arbitrum And Optimism - The Defiant
OpenSea Blocks Cuban Artists From The Platform Due To US Sanctions - Cointelegraph
Over $30B Of NFT Trading Volume On Ethereum Is Wash Trading, Research Suggests - CoinDesk
Upland Scores Argentina Football Deal For EOS-Based Metaverse - Blockworks
The Art Of The Drop: Trump NFTs May Prove The Utility Of Utility - The Block
International Chess Federation Checks Into Web3 With Avalanche Integration - MSN
Web3 Fintech And Institutional Adoption
⭐ Binance Affiliate Poised To Acquire Stricken Voyager For $1B - The Defiant
FTX Wants SBF’s $450MM Robinhood Stake Frozen After BlockFi Sues - Blockworks
Gensler Vows To Intensify Crypto Crackdown - The Defiant
Peter Thiel-Backed Crypto Exchange Bullish Calls Off SPAC Deal - CoinDesk
Fir Tree: Grayscale Potential Tender Offer Is ‘Lip Service’ - Blockworks
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Rest of the Best in Fintech
⭐ Sequoia-Backed Wave Takes on Telcos in Africa Mobile-Money War - Bloomberg
Versana Launches Digital Syndicated Loan Platform - MARKETSMEDIA
CyberCube raises $50 million - Coverager
The top fintech stories of 2022 - TechCrunch
Fintech Galaxy acquires Egypt’s Underlie as it expands its regional Open Finance footprint - IBS Intelligence
CLARK acquires UB Partner - Coverager
Long Take: Wells Fargo $3B+ & Epic $520MM fines undermine positive-sum games and consumer surplus (link here)
We paint a picture of a utopian economy, where perfect information leads to consumer surplus and positive-sum games.
The analysis pulls apart a few fundamental ideas of fairness, and how they can be expressed in commercial activity, economics, and the fintechs and protocol projects that build them. We then dive into the enormous recent fines levied against Wells Fargo and Epic to understand the type of breach that occurred. Last, we discuss how such breaches are structural, and that a new economic architecture is needed.
Podcast Conversation: Building digital assets into roboadvisor strategy, with Betterment VP of Crypto Investing Jesse Proudman (link here)
In this conversation, we chat with Jesse Proudman, the VP of Crypto Investing at Betterment, who was also the co-founder and CEO of Makara.
Proudman shares his journey of building a web-design business, which eventually morphed into a cloud computing service and was later acquired by IBM. He then explains his interest in blockchain and the business he built to manage crypto portfolios, which led to the creation of the private cloud product. He discusses the challenges of the public internet versus private internet, public cloud versus private cloud, and public blockchain versus private blockchain, and how the industry has evolved since the ICO collapse of 2018.
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Wondering what’s shaping the future of Fintech and DeFi? At the Fintech Blueprint, we go down the rabbit hole in the DeFi and Fintech industries to help you make better investment decisions, innovate, and compete in the industry.
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