Saturday, January 22, 2022
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Spain to Impose Restrictions on Crypto Promotions: Report



Iniesta tweeted that he was “learning how to get started with crypto with @binance #BinanceForAll”, to his 25 million followers. The CNMV responded to the tweet saying that “crypto-assets, being unregulated products, carry significant risks.”

Crypto.com Capital hires Jon Russell as GP, hints at fund size expansion



Crypto.com Capital announced on Monday that it was expanding its Web 3 fund by $200 million and named Jon Russell, a former tech journalist based in Bangkok where he wrote for Tech Crunch and The Ken, as Asia-based general partner.

  • Crypto.com Capital initially launched the fund in March 2021 with a capital of $200 million, targeting seed and Series A deals in verticals such as DeFi, NFT, blockchain games and the metaverse.
  • The fund is currently managed by Crypto.com co-founder Bobby Bao and hires more GPs globally. Russell will help expand the fund’s exposure to Asia-based projects.
  • Russell told CoinDesk that the fund is expected to more than double in size and an announcement is expected in the coming days.
  • Crypto.com Capital’s previous investments include Frax Finance and liquidity provider Woo Network.
  • Asia is rapidly developing a huge institutional appetite for digital assets.
  • Singapore’s DBS Bank, one of the largest in the region, operates a crypto trading desk. Thailand’s Siam Commercial Bank (SCB) recently acquired a majority stake in Thai Bitkub cryptocurrency exchange.
  • Mukaya Tai, Chief Venture and Innovation Officer of SCB 10x, said she envisions a world where DeFi protocols have disintermediated banks.
  • Despite the bear market, VCs are still willing to allocate capital to the ecosystem. This comes on the heels of FTX creation of a $2 billion venture capital fund invest in crypto startups and Opening of Sino Global Capital to outside investors through a $200 million fund.

CLARIFICATION (January 17, 06:20 UTC):Crypto.com contacted to clarify that they will give Russell the title of general partner, not LP. An announcement made earlier Monday said he had been named LP.

First Mover Asia: Bitcoin Continues Slow Amid Darkening Economic Signs


Hello. Here is what happens:

Market movements: Bitcoin’s price hovered above $43,000 as investors looked for signs that the cryptocurrency’s price had bottomed out.

Technician’s opinion: The support remains intact, which could keep BTC buyers active in the short term.

Catch the latest episodes of CoinDesk TV for in-depth interviews with industry leaders in crypto and analytics.

Prices

bitcoin (BTC): $43,210 -0.1%

Ether (ETH): $3,359 +0.5%

Markets

S&P 500: $4,662 +0.08%

DJIA: $35,911 -0.5%

Nasdaq: $14,893 +0.5%

Gold: $1,817 -0.2%

Market movements

The fall in crypto prices continues.

Bitcoin spent much of its weekend around where it started, hovering at just over $43,000. This level was a little better than at the start of the week, but far from its highs of just two months ago. Trading was light as investors looked for signs that bitcoin’s downward spiral had reached its end point and the largest cryptocurrency by market capitalization was poised to enter a new bull cycle. Ether and most other altcoins followed a similar slow pattern.

The weekend saw Bitcoin in a choppy zone with no clear trend,” BitBull Capital CEO Joe DiPasquale told CoinDesk. a sign of its inherent weakness. When Bitcoin experiences a sharp decline, investors and traders look for aggressive buying to confirm a bottom and a reversal; However, we haven’t seen much of that since Bitcoin briefly dipped below $40,000.”

The crypto market struggles come as the Omicron variant of the COVID-19 virus rages and many companies grapple with supply chain issues and rising commodity costs. Last Wednesday, the US central bank also announced that inflation had reached 7%, a 40-year high.

DiPasquale does not see Bitcoin’s price rising dramatically in the coming days, although he noted that the upcoming options expiry on January 28 could serve as a “possible trigger” to send Bitcoin towards $50,000.

Technician’s opinion

Support for Bitcoin Holding above $42,000; Resistance at $45,000 – $47,000

The daily Bitcoin price chart shows support/resistance with the RSI at the bottom.  (Damanick Dantes/CoinDesk, TradingView)

bitcoin (BTC) buyers are trying to reverse a two-month downtrend. The cryptocurrency is down around 30% from an all-time high of nearly $69,000 in November, and now technical indicators suggest the selloff is starting to stabilize.

BTC has risen around 3% over the past week, although the recent decline in trading volume suggests that large price swings could occur.

Support is seen around the $40,000 price level, which may limit short-term pullbacks. Still, the upside may be limited towards the $45,000-$47,000 resistance zone over the weekend.

The relative strength index (IRS) on the daily chart is rising from oversold levels, similar to what happened in late September, which preceded a price rally. This time, however, the bullish momentum is starting to weaken on the weekly and monthly charts, reducing the chances of significant buying.

Important events

10:00 HKT/SGT (02:00 UTC): China’s Gross Domestic Product (December QoQ/YoY)

10 a.m. HKT/SGT (2 a.m. UTC): Industrial production in China (December YoY)

10:00 HKT/SGT (02:00 UTC): China retail sales (Dec YoY)

12:00 HKT/SGT (04:00 UTC): Japan Service Industry Index (November YoY)

American Martin Luther King Day

CoinDesk TV

In case you missed it, here are the most recent episodes of “First Mover” to CoinDeskTV:

Crypto Market Seesaw, bringing Bitcoin to outlets near you

Remittance company MoneyGram is doubling down on its partnership with Coinme, investing in the cryptocurrency exchange for a 4% stake. MoneyGram CEO Alexander Holmes and Coinme CEO Neil Bergquist joined ‘First Mover’ to discuss their expansion plans and partnership, enabling consumers to buy bitcoin at thousands of outlets. sale in the United States. Also, what about the latest highs and lows in the crypto market? Brad Roth from Thor Financial shared his analysis and insights.

Latest titles

Walmart is planning a metaverse push, trademark filings show: The retail giant could also consider creating its own cryptocurrency and non-fungible tokens (NFTs).

Crypto influencer Cooper Turley was removed from FWB in 2013. Turley, once an adviser to the influential crypto social club Friends With Benefits, takes a step back.

After Bitcoin’s weak start to the year, analysts are now predicting a price increase: One analyst sees stubbornly high inflation numbers coupled with continued negative real interest rates as the main catalysts for the market.

Crypto Exchange Bitfinex asks customers in Ontario to close their accounts: Bitfinex customers in the Canadian province must withdraw all funds by March 1, the exchange said.

Blockchain Data Startup Lukka Hits $1.3 Billion Valuation: The software and data company has raised $110 million in new funding to accelerate its global expansion strategy.

Crocs gnaws at NFTs, trademark filings show: The shoe brand claimed its name on NFT shoes, bags and accessories in a January 11 USPTO filing.

Longer reads

Off the Charts: DeFi Rebound: The total value locked increases despite the pullback of other crypto prices.

Today’s crypto explanation: Dogecoin Mining 2022: Everything you need to know

Other voices: Explaining Ethereum: Interview with Vitalik Buterin (Part 1) (Harvard International Review)

said and heard

“Both sides of this raging debate have reasonable views. There is Chris Dixon’s position that Web 3 projects create real value, and Jack Dorsey’s countervailing position that the term is not just a buzzword exploited by venture capitalists to increase their capital and token investment.” (CoinDesk Chief Content Officer Michael Casey writes about Web 3)…”It is too early to tell whether the TVL rebound will significantly reverse the declines in DeFi commitments seen since last spring. dollar pricing. We’ll have to see if the industry can recapture the unbridled enthusiasm of a year ago, or if the zeitgeist has been lost to NFTs.” (Michael Casey writes about DeFi prices) … “Will the Chinese be able to control it or not, I think that’s a very important question. If they have to start closing the port cities, you’re going to have further disruptions in the supply chain. ‘supply.” (Craig Allen, Chairman of the US-China Business Council)… “The next few weeks will be difficult.” (US Surgeon General Vivek Murthy on the continuing outbreak of the Omicron variant)

Derivatives Data Shows Weakening Crypto Enthusiasm



Implied thefts, which are calculated from option premiums and gauge the market’s view of future risk, have fallen to levels not seen since October 2020. Certainly, steady levels of crypto implied volatilities would signal alarm and panic in the equity market, but since the second week of December, implied crypto thefts have been declining. Over the past two days, this decline has accelerated. Implied thefts at one-month parity are now at 60%; they had been hovering around 80% since the summer. When demand for options falls, implied volatilities fall with it.

Polymarket’s New Airdrop Futures Market Has Answers



“’Wen token?’ is one of the most asked questions in crypto,” Polymarket founder Shayne Coplan told CoinDesk. “The great thing about Airdrop Futures is that it can combat asymmetric information. You can see the probabilities according to a real free market. It’s a really powerful idea.

“Every company will be a crypto company”; A venture capital funding outlook for 2022



This episode is sponsored by Link, Abra and United States.

Download this episode

In today’s “Weekly Recap”, NLW takes a look at a series of funding rounds announced this week, including:

  • Close to protocol, $150 million
  • ZeroHash, $105 million
  • Checkout.com, $1 billion
  • SEBA, $119 million
  • DeFi Alliance (now DAO Alliance), $50 million
  • FTX Ventures, $2 billion

See also: SEC must drop Hinman’s email on Ether to ripple it, judge rules

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard behind our sponsor today is “Time” by OBOY. Image Credit: Overearth/iStock/Getty Images Plus, modified by CoinDesk. Join the discussion on discord.gg/VrKRrfKCz8.

Hulu targets ‘streamers of tomorrow’ as it seeks candidates with metaverse and NFT backgrounds



The streaming platform is hiring a “cultural trends marketing manager” to help the company “break into other spaces outside of streaming,” with experience in “metaverse and/or crypto and NFT platforms” a plus, according to the list.

Crypto Influencer Cooper Turley Removed From FWB Over 2013 Bigoted Tweets



Turley, now 25, has worked on some of the biggest projects in the Web 3 ecosystem. He is currently listing as a “venture capital partner” at the venture capital firm Variant Fund, led by Jesse Walden and Li Jin, and worked as an advisor for the Audius blockchain streaming service and the DAO Seed Club incubator.

Decline in Bitcoin trading volume; Dogecoin Rallies



Kuptsikevich is particularly concerned about further declines in ether, the world’s second-largest cryptocurrency by market capitalization after bitcoin. If the momentum continues to deteriorate, he anticipates the worst-case scenario of $1,300 at 1,700 ETH, around 50% below current price levels.

Crypto job postings jump 395% in 2021: LinkedIn



Posts with titles containing terms such as “bitcoin”, “ethereum”, “blockchain” and “cryptocurrency” increased by 395% in the United States from 2020 to 2021, according to the study. This was significantly higher than the 95% increase in job openings in the broader tech industry over the same period.