White Star Capital Digital Asset Fund - newsletter #68
Crypto job ads surged by nearly 400% in 2021
Crypto job ads surged by nearly 400% in 2021
LinkedIn, the popular social networking site for professionals, said that the number of job ads related to the digital asset industry soared in 2021.
Postings related to "bitcoin," "blockchain," "Ethereum," and other terms surged 395% between 2020 and 2021, according to LinkedIn. By comparison, the broader tech sphere "saw a 98% increase in listings during the same time period."
"While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors," LinkedIn News noted in a post.
A survey of 27 crypto firms revealed a headcount increase of more than 8,400 people in the last year, with an average of over 300 people for each surveyed company. Predictably, exchanges and investment-oriented companies led the pack.
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🏦 Enterprises & Institutions
Visa and ConsenSys team up on CBDC tech
Visa and ConsenSys have been consulting with central banks around the world on new tech for central bank digital currencies.
Jack Dorsey's Block commits to build an 'open' bitcoin mining ecosystem
JPMorgan plots surge in technology spending for 2022
The revelations came during a fourth-quarter earnings call on January 14, during which JPM executives including chairman and CEO Jamie Dimon staked out the importance of such spending, including on talent acquisition and what he called "change the bank" spend. JPMorgan will boost the roughly $12bn it spent on technology last year by as much as 20%.
⚖️ Government & Regulation
Congress announces hearing on crypto's energy use and environmental impact
The hearing follows on growing concern over the rise of the crypto mining in the U.S., which has become the largest source of Bitcoin's hash rate over the past year.
Swiss central bank trials wholesale CBDC with BIS and commercial lenders
The Swiss National Bank (SNB) has successfully tested the integration of a wholesale central bank digital currency (CBDC) settlement with commercial banks.
China-backed Blockchain Services Network eyes support for NFTs
The Chinese state-backed blockchain deployment infrastructure platform Blockchain Services Network (BSN) is moving closer to supporting NFTS -- under the condition that the NFTs aren’t connected to cryptocurrency or public blockchains.
💰 Funding & Exits
Mark Cuban and Robinhood's CEO join $6m round for high-yield investment app Seashell
Khosla Ventures and Kindred Ventures co-led the round, with Coinbase Ventures, Solana Ventures, and the Avalanche Foundation (through its Blizzard Fund) also participating.
DeFi API startup Conduit raises $17m from Portage Ventures
FinVC, Gemini Frontier Fund, and ex-a16z partner Rex Salisbury also participated in the round.
$50m raised to fuel DeFi Alliance's evolution into a decentralized autonomous organization
More than 300 contributors have linked up to fuel crypto accelerator DeFi Alliance’s shift to a decentralized autonomous organization.
Solana NFT layer Metaplex raises $46m
Multicoin Capital and Jump Crypto led the funding round. The project is ramping up operations after a successful 2021 debut.
Crypto data firm Lukka hits $1.3bn valuation with new funding round
Global asset manager Marshall Wace led Lukka's $110m Series E round, with Miami International Holdings, Summer Capital, and SiriusPoint also participating.
NEAR raises $150m as it looks to become a hub of web3 development
Three-Arrows Capital led the token sale with participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda and Circle Ventures, among others.
Metaverse startup Animoca Brands hits valuation of over $5bn with new funding
Liberty City Ventures led the round, with several other investors participating, including Soros Fund Management, Sequoia China, 10T Holdings, Mirae Asset, Pacific Century Group, ParaFi Capital, and Winklevoss Capital.
Mechanism Capital launches $100m ‘play-to-earn’ gaming fund
The firm is tapping former Apple App Store manager Steve Cho to help lead the fund.
Blossom Capital targets crypto tokens with new $432m fund
Blossom Capital plans to allocate a full third of its new fund to crypto-powered firms.
FTX launches $2bn venture fund, hires Lightspeed exec to lead
FTX — which has long made investments alongside its sister company Alameda — said in a press release that FTX Ventures aims to "advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare."
Gemini acquires crypto portfolio management platform BITRIA
The acquisition follows Gemini's partnership with BITRIA in August 2020 that allowed registered investment advisors (RIAs) to buy, sell, and store crypto through Gemini.
BitMEX Group plans to acquire a 268-year-old German bank
BitMEX Group has signed a purchase agreement with Bankhaus von der Heydt, a 268-year-old German bank.
🚀 Project Launches & Updates
Candy Digital launches marketplace for Major League Baseball NFTs
Fans can buy and sell previously released Candy products in the marketplace using their credit card.
🔥 Other Bits We're Excited About
Rio de Janeiro mayor plans to invest 1% of the city's treasury in crypto
Eduardo Paes, mayor of Rio de Janeiro, intends to invest 1% of the city's treasury reserves in cryptocurrency.