Crypto Research

VENTURE CAPITAL DEALS Yuga Labs is an NFT/metaverse developer most widely known for creating the Bored Ape Yacht Club NFT collection, the largest NFT collection by market cap at over 1 million ETH (~$3 billion at the time of writing). Yuga raised $450 million in a funding round that valued the company at $4 billion. The round was led by a16z, with Sandbox, FTX Ventures, and MoonPay participating as well,...

FIGURE: WASSIE[1] NOTE TAKING ON DEFI PANEL DAY 2 This week, we bring you a special edition of DeFi Digest, stemming from the investigative journalism on Solana’s NYC Hacker House by Fundstrat’s in-house wassie, yours truly. Out of the week-long event, I attended the DeFi panels across two days, where representatives of DeFi protocols discussed the most pertinent issues in DeFi today and ways forward. _For a deep dive into...

WEEKLY RECAP Cryptoassets performed strongly for the second consecutive week, as prices have seemingly become less responsive to negative headlines surrounding the war in Ukraine and the risk of excess hawkishness from the Fed. It was another “risk-on” week within crypto as smart contract platforms performed the best on a size-adjusted basis out of any other sector. Much of this outperformance stems from the recent optimism surrounding Ethereum’s merge and...

FIGURE: ANCHOR CELEBRATING ITS ONE-YEAR BIRTHDAY Source: TradingView Fellow Yield Farmers, I hope the previous issues of DeFi Digest have laid some foundation in this fast-moving space that is Decentralized Finance. We’ve covered concepts such as money markets, decentralized exchanges, and yield sources/flows, teeing up this week’s analysis of Anchor Protocol nicely. Today also coincides with Anchor’s one-year anniversary of launching on Terra on March 17th, 2021. _For a recap...

VENTURE CAPITAL DEALS Hexa Wallet is a self-custody Bitcoin wallet that gives users the ability to control their own private keys without being a simple non-custodial wallet that isn’t as private as a custodial one. The fintech startup raised $1 million in pre-seed investments from Fulgur Ventures and Brad Mills with Bank To The Future and Plan B Ventures as crowdfunding partners. The fresh capital will help Hexa onboard more...