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Weekly Newsletter #2
Are we in a bull market? The numbers certainly suggest we are!
Newsletter #2
GM/GN, looks like we're in the bull 🐂 market now! Hopefully everyone's been HODLing through and enjoying their profits! Let’s keep the bull market going! Grab your Joes ☕️ and milk 🥛, and let’s get to this week's news! 👇
TOPICS OF THE WEEK
✌️🐻
Market Analysis
News of the Week
Other Headlines
🤑 Funding 🤑
Meme of the Week
People getting 'greedy' out here - stay safe!
DATA YOU SHOULD CARE ABOUT
FED raises their target by another 25 basis points. However, Powell has said that inflation is easing but remains elevated. It seems like Powell is doing whatever he can to make sure that we land softly.
Non-Farm Payrolls came out STUNNING with 517K in January, way more than expected. The stat compiles the number of workers excluding farm workers, private household employees, or NPO employees. The number further shows strength in the labor markets.
The unemployment rate has been at its lowest level ever since 1969! That’s very bullish news and suggests that the labor market is strong, as Powell has said in his meeting! Bull market vibes~
NEWS OF THE WEEK
ETH Zhejiang has been live since February 1st. Users can now try and see what they can expect for March's Shanghai Update!
The Zhejiang public testnet is going live tomorrow (1st of Feb 15:00 UTC, 2023). Shanghai+Capella will be triggered 6 days later (at epoch 1350). You will be able to deposit validators, practice BLS change and exit without risk. All links are here: zhejiang.ethpandaops.io
— Barnabas Busa (@BarnabasBusa)
9:07 AM • Jan 31, 2023
If you haven't heard yet, the Shanghai Update will allow users to unstake their ETH, which has been locked for almost 2 years! Over ~16 million ETH has been locked, and this serves as a great step forward as it will open the gate to potential new stakers looking to stake directly on Ethereum.
JPM has suggested that the biggest beneficiary from the staking may be Coinbase. Analysts believe that Coinbase could earn ~$500 million in annual revenue once the upgrade is live.
Also, look at how deflationary ETH is!
Yep, Elon is back at it again! After announcing his plans earlier to incorporate payment onto Twitter - the reality is not so far! Twitter has officially filed paperwork with the U.S. Financial Crimes Enforcement Network (FinCEN) to start a payment business (it looks like Elon is bringing his experiences from PayPal to Twitter). The US licensing process will be completed within a year, and international regulatory approvals will be completed after.
Dogecoin for payment soon?
Elon is also looking for more ways to reward creators directly, and it seems like he’s already taken the first steps by sharing ad revenue with creators for ads that will appear in the reply threads!
Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads
— Elon Musk (@elonmusk)
4:21 PM • Feb 3, 2023
OTHER HEADLINES
Devaluing IP Rights for NFTs Can Put The Web3 Creative Industry At Risk
OneCoin Founder’s Name Resurfaces in Govt. Filing After Five Years of Hiding
UK Finance Ministry to Propose Broad Rules, Wants Crypto Industry Feedback
Ethereum Sets Dress Rehearsal for Shanghai: Staking Withdrawals Upgrade
Steve Aoki and Seth Green Invite NFT Holders to Collab on Animated Short
$FUNDING$
DeFi Liquidity Protocol Squid Raises $3.5M Round led by North Island Ventures (CoinDesk)
Crypto Issuance Startup Tokensoft Brings its Token Launchpad On-Chain (CoinDesk)
Scytale backs decentralized storage solution Sumi Network's $3 million raise (The Block)
New SEC filing amends Magic Eden's Euclid Labs $27 million raise to $16.9 million (The Block)
DeFi protocol Archimedes raises $4.9 million in seed funding (The Block)
Blockchain security firm Sec3 raises $10 million in seed funding (The Block)
Venom Ventures Fund makes $5 million strategic investment in Everscale blockchain (The Block)
Viola Ventures and Fabric Ventures back Addressable’s $7.5 million raise (The Block)
Oh Baby Games comes out of stealth, announcing $6 million funding round (The Block)
Haun Ventures backs ZK-startup Sovereign Labs in $7.4 million raise (The Block)
MEME OF THE WEEK
Who's ready to stake ETH!
Aand that wraps it up for our news letter! 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.