The DoJ's hyped announcement yesterday resulted in a takedown of a little known exchange, causing concern for the future of DeFi regulation
his week, we look at:
There are two very large revenue pools in the crypto asset class — (1) mining, and (2) trading. There are some large revenue pools in crypto-as-a-software, too, but those tend to be less sensational.
This analysis will establish a 2021 baseline for the most regulated of crypto exchanges, Coinbase, including a detailed financial model building a $100B+ valuation case
We then consider the valuations and multiples of capital markets protocols in Decentralized Finance of Ethereum, now making up over $60B in token value
Lastly, we look at Binance’s $1B in profits, its $35B BNB token, and the activities on Binance Smart Chain
digital transformationEmbedded Financeenterprise blockchainexchanges / cap mktsmega banksneobankOpen Bankingopen source
·In this analysis, we focus on Goldman Sachs launching an institutional embedded finance offering within Amazon Web Services, and Thought Machine raising a unicorn round for its cloud core banking platform. We explore these developments by focusing on the emerging role of cloud providers as distributors of third party software, think through some of the implications on standalone fintechs and open banking, and check in on AI company Kensho. Last, we highlight the difference between Web3 and Web3 approaches to “cloud”, and suggest a path as to how those can be rationalized in the future.
Since the FTX meltdown, centralized exchanges in the DeFi space are rushing to publish PoRs, but without liability data, are they relevant?
·
The FTX debacle continues- when you thought it was all over, things just get weirder.
Pat White, the founder of crypto enterprise startup Bitwave, said programmable money and its infrastructure will change traditional institutions.
As more applications turn digital, the threat of hacks become ever present. Crypto has become a weak point for theft.
CoinDesk is releasing their 2020 version of the CoinDesk 50, the most innovative, consequential and viable projects in the blockchain...
Blockchain progress through the lens of Binance’s $180MM profit and Greensill’s $1.5B SoftBank raise
Look at the difference between (1) building out the crypto asset class, and (2) operating infrastruture for a blockchain-based digital economy. There are so many little logic pot holes into which you could fall! There are so many things one could believe that make the whole thing make no sense at all! I am anchoring around two primary data points -- a Multicoin report about Binance's financial progress and its massive (though unaudited) $180 million profit in Q3 of 2019, and a post by supply chain company Centrifuge about marrying cashflow financing with the decentralized web.
The SEC filed 13 charges against Binance and CEO Changpeng Zhao, in the latest in a series of painful stories about the embattled fintech.