- Stocks are gaining following the highly anticipated December consumer prices report. The CPI report was in line with economists' expectations that inflation would decline, falling 0.1% from November but still 6.5% higher than last year. The S&P 500 gained 0.51%, while the Nasdaq was up 0.50%. Equities have been pushing up this week as the market anticipates the Fed may begin to slow its pace of rate hikes in response to cooling inflation. Treasury yields were down, with the U.S 10 Year falling by 1.72% and the 30 Year down by 1.14%. $BTC currently outperforms equities, rising 1.45% to 18,200, near levels not seen since early December. $ETH was slightly up 0.27%, trading around $1390.
- $AVAX gained 21.2% as the top performer among the largest 100 digital assets by market cap over the last day. The move followed Ava Labs' announcement of a partnership with Amazon Web Services, aiming to "accelerate enterprise, institutional, and government adoption of blockchain." The partnership will enable new AWS tooling to add flexibility for developers and help reduce friction in launching and managing nodes on the Avalanche network. Ava Labs will join AWS Partner Network (APN) and AWS Activate, providing resources and access to deploy offerings on AWS with over 100,000 partners. John Wu, president of Ava Labs, stated the partnership will speed up the adoption of the blockchain through "ease and access" for traditional developers that are not "hard-core web3 people."
- Venom Foundation has partnered with Iceberg Capital to launch a $1 billion venture fund focused on investing in web3 companies and blockchain. Venom Foundation is building a Layer-1 blockchain licensed and regulated by Abu Dhabi Global Market (ADMG). The 'Venom Ventures Fund' will be operated by Iceberg Capital, an ADGM-regulated investment manager. It will be blockchain agnostic, deploying into Series A and pre-seed opportunities in protocols, Web3 dApps, DeFi, and banking services. The fund's leadership includes Peter Knez, ex-CIO at BlackRock, and Mustafa Kheriba, a seasoned investor in the MENA region. The size and timing of the fund are notable, as there hasn't been a raise of this size for a blockchain fund since August of last year. Multiple massive billion-dollar funds were announced in early 2022 but tapered off as the bear market prolonged.
Avalanche Partners with AWS, Web3 Venom Ventures Fund Raises $1 billion
Jan 12, 2023
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