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- 11/8/23: Circle Considering IPO 🪙💸🖼️
11/8/23: Circle Considering IPO 🪙💸🖼️
Valko
November 08, 2023
Top News
🪙 USDC stablecoin issuer Circle considers an IPO in 2024
💸 Binance rolls out its first-ever self-custody crypto wallet
🖼️ OpenSea investor Coatue Mgmt cuts OpenSea’s valuation by 90%
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⌐◪-◪ → Anonymous sources say Circle is considering an IPO next year, but when asked about it, the company stated, “We don’t comment on rumors”. While it’s not clear what Circle seeks to be valued at, their previous IPO attempt in 2021 had them valued at $9B. Circle is a clear leader in this space, and their IPO would be a net positive in my opinion.
⌐◪-◪ → Binance is the world’s largest cryptocurrency exchange by volume, so them launching a self-custody wallet is a BIG deal. This wallet will make it easier for folks to actually interact on-chain, bridging the gap between centralized and decentralized systems. The wallet users multi-party computation technology (MPC), letting users easily split their key across 3 different, secure, locations.
⌐◪-◪ → This headline is awfully reminscent of the recent Rolling Stone headline, “Your NFTs Are Actually — Finally — Totally Worthless”. This comes after OpenSea’s recent restructuring, which resulted in 50% of their staff being laid off. While the NFT market has definitely taken a hit, I am still fundamentally long on the technology - the ability to own unique digital assets, in a world that is increasingly digital, is kind of a big deal.
Peripheral Vision
⛓️ Crypto & DeFi
Ripple unveiling payment platform for corporate clients
Linea kicks off “DeFi Voyage” campaign to decentralize its network
The Graph to roll out new data services, like AI-assisted chain queries
=nil; Foundation, an Ethereum builder, introduces zkSharding
Wintermute accuses Near Foundation of failing to uphold deal
🏦 Wallstreet & VC
🏛️ Legal & Regulatory
US Treasury says Biden wants legal powers to crack down on crypto
CTFC Chair says they’re the “Premier Enforcement Agency” for crypto
BIS Chief says CBDCs are “central” to innovating financial systems
🌎 Rest of the World
Robinhood to expand crypto trading services to the EU
European Banking Authority proposes rules on stablecoin liquidity
Swiss bank SEBA obtains Hong Kong license for crypto services
Ripple partners with fintech, Onafriq, on Africa remittance corridor
El Salvador to upgrade Bitcoin ATM network to Lightning Network
2nd largest consumer distributor in El Salvador now accepts Bitcoin
🖼️ NFTs & Metaverse
Daily NFT volume hits 3-month peak, bolstered by major Punk sales
BAYC founder continues to buy more NFTs: CrypToadz, y00ts, & more
Magic Eden, NFT marketplace, new Polygon support & features
Square Enix, makers of Final Fantasy, to launch new NFT game