Crypto-based venture capital funding for Q1 2022 spiked to a record-breaking value of $14.6B. Demand from investors was led by both late and early-stage deals. Check out our past newsletter for more insights on venture funding in crypto.
Bitcoin on-chain data suggests that 89% of veteran investors are choosing to keep their tokens dormant (glassnode). This indicates that sell-side pressure is primarily driven by short-term holders as highlighted in a previous edition.
Bitcoin remains highly correlated to equities as investors continue to grapple with tightening monetary conditions. However, Bitcoin markets remain relatively robust as supply on exchanges continues to deplete.
An early sign of enterprise NFT adoption: VanEck launched an NFT collection as a tool for digital membership for crypto-focused investors. Learn more about NFTs here.
Goldman Sachs offered its first Bitcoin backed loan as US banks accelerate Wall Street’s presence in cryptocurrencies. Goldman called transaction as “interesting” due to the loan’s 24-7-365-day risk management structure. Read more here.
Crypto exchange Binance has committed $500M to finance Elon Musk’s $44B takeover of Twitter. Read more here.