Weekly Newsletter #11

Newsletter #11

GM/GN, happy early-easter 🐰🎉! Hope you have an amazing weekend ahead of you. Grab your Joes ☕️ and milk 🥛, and let’s get to this week's news! 👇

TOPICS OF THE WEEK

Ifykyk 👀

• Market Analysis

• News of the Week

• Other Headlines

• 🤑 Funding 🤑

• Meme of the Week

DATA YOU SHOULD CARE ABOUT

Are we in the accumulation phase?

Polygon is #2⃣️

In March, Polygon became the SECOND-largest gaming blockchain after a surge of user activity. Gaming bull run coming soon?

Crazy to see the differences in funding from a year ago...

Lots of stagnation going around in the markets as there is so much uncertainty in the global economy. However, Bitcoin is holding up well and leading the market despite regulators turning up the 🔥

NEWS OF THE WEEK

USDC Transparency Didn't Help SVB...

The recent news about USDC sparked questions regarding transparency, and how it relates to the recent issues with Silicon Valley Bank.

USDC is a stablecoin that is pegged to the value of the US dollar. One of the main selling points of USDC is its transparency - every USDC token is backed by an equivalent amount of US dollars held in reserve. This means that users can trust that their USDC tokens are worth what they say they are worth.

However, this transparency did not prevent a recent issue with Silicon Valley Bank (SVB), which is one of the banks that holds the reserve funds for USDC. SVB experienced a technical issue that prevented the bank from processing transactions for a short period of time, causing some USDC users to experience delays or errors in their transactions.

While USDC's transparency is certainly a positive feature, it can only go so far in preventing issues like this. In the end, the stability and reliability of USDC (and any other stablecoin) relies on the underlying banking infrastructure.

This recent issue with SVB highlights the importance of choosing reliable banking partners for stablecoin issuers. It also raises questions about the concentration of power in the banking industry - if a single bank's technical issue can cause issues for a large number of users, is the industry too reliant on a small number of banks?

OTHER HEADLINES

• Latin America’s Biggest Investment Bank Launches Stablecoin

• Ralph Lauren Miami Store to Release NFT Collection, Accept Crypto Payments

• Matt Damon Says He Agreed to Crypto.Com Ad to Get Backing For Clean Water Foundation

• Dogecoin Surges 20% Upon Twitter Logo Replacement

• Post-Silk Road, US Government Makes $215M from Seized BTC – With Plans for $1.1B More

• How Can NFTs Be Taxed? Inside the IRS’s New Proposal

• Crypto Isn’t All About Winning, It’s About Layer 1 Protocols

• USDC Transparency Is Great, but It Didn’t Help Against Silicon Valley Bank

$FUNDING$

• Modular Blockchain Astria Raises $5.5M for Shared Sequencer Network (CD)

• Delphi Labs Raises $13.5M for Web3 Accelerator (CD)

• Crypto Payroll Company Franklin Closes $2.9M Seed Roun (CD)

MEME OF THE WEEK

The greater the responsibility, the more $BTC you have to buy 🤡

Aand that wraps it up for our newsletter! Hope you enjoyed the news, memes and analysis. See you next week!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.