Crypto Market Highlights January 6, 2022

Aave Arc DeFi authorized by Aave, Polymarket Stays, P2E Drones in Metaverse and other highlights of the crypto market that have been compiled over the past 24 hours.

Crypto Market Highlights: Investment News

• Binance Labs, Binance’s innovation and venture capital incubator, recently announced a strategic investment in Coin98, a DeFi platform that bridges the gap between traditional and decentralized funding. Binance Labs will provide technology, consulting and incubation services to the team.
• The project company NFT Metaversal has raised US $ 50 million in Series A under the joint management of CoinFund and Foxhaven Asset Management. This capital will be used to fund further acquisitions of Metaversal’s growing portfolio, write deals and support their venture studio projects.
• Cion Digital, a startup building crypto infrastructures for traditional financial institutions, has raised $ 12 million in a seed funding round. The funds will be used to expand their resources and accelerate the delivery of crypto financing and payments solutions tailored for financial services companies and ticket merchants, they said.
• NFT-based investment issuer Pioneer Media Holdings announced that it has completed the acquisition of NGMI Labs, a company that deals with decentralized autonomous organizations (DAOs), valued at approximately $ 7 million. The three NGMI founders will continue their previous positions.
• The decentralized video transcoding network Livepeer (LPT) has raised US $ 20 million in a series B financing round.

Crypto Market Highlights: Stock Market News

BitMEX says it has welcomed 50,000 new users since the BMEX token was announced on December 21st. However, it declined to provide registration details prior to the announcement.

Cryptocurrency platform Voyager Digital has announced that its preliminary revenue for the second fiscal quarter of 2021, ending December 31, is expected to be around $ 165 million, up from $ 3.6 million in the same period last year and co-funded Accounts of more than 1 million more from just 43,000 at the beginning of the year. Preliminary gross sales for calendar year 2021 are estimated at over $ 415 million, compared to $ 6.6 million for calendar year 2020, including preliminary estimated sales from trading services of $ 29 million.

Crypto Market Highlights: DeFi News

The major decentralized financing platform (DeFi) Aave (AAVE) has launched Aave Arc, an approved version of the platform. Aave Arc offers a separate implementation of the Aave V2 liquidity pool for institutions, which enable “white list” institutions to participate as liquidity providers at a profit, as well as for investors. Institutional crypto-custodian company Fireblocks is the first company to be whitelisted by Aave Arc. Fireblocks customers who voluntarily “whitelist” themselves by going through a customer identification process can access DeFi via Aave Arc with “all security measures, guidelines and Fireblocks MPC-level workflows”.

Crypto Market Highlights: Regulatory News

Cryptocurrency prediction service Polymarket stressed that it will not close and has reached an agreement with the U.S. Commodity Futures Trading Commission (CFTC) after being fined for non-compliance. The three markets settled after January 14, 2022 that do not comply with the law will soon be canceled and refunded to participants, with an official announcement in the coming days. they said in an email comment.

The US Securities and Exchange Commission (SEC) has extended its ruling on NYDIG’s proposal for a Spot Bitcoin (BTC) Exchange Traded Fund (ETF) by 60 days in order to have “enough time” to review the proposed rule change and any comments The SEC’s original deadline was January 15, so it now has until March 15 to make a decision.

The UK Advertising Standards Authority (ASA) banned two ads from Crypto.com following a complaint. The first ad, seen on the Daily Mail app on September 1, contained the text “Please buy bitcoin immediately with a credit card,” while the second was seen on the Love Balls app on July 30, and ” up to 3.5% pa. promises ”, whereby the number in the text increases to“ 8.5% ”.

Miami Mayor Francis Suarez took over the chairmanship of the U.S. Mayors’ Conference on Monday, pledging to encourage innovation and suggesting that cities join a “cryptocurrency institution,” according to Bloomberg. He said cities should actively fight for cryptocurrency regulation that “shows success” rather than rejecting the burgeoning industry, citing China as an example of the latter.

Crypto Market Highlights: Gaming News

Game for Money (P2E) game company Playground Labs and professional drone racing asset Drone Racing League (DRL) have announced a partnership to expand their high-speed drone racing DRL beyond IRL and esports into the Metaverse. Companies will develop the first P2E sports competition on Algorand (ALGO), where players drive DRL drones to earn cryptocurrency and non-fungible tokens (NFT) that translate financial value from digital to reality, they said.

Decentralized Virtual Gaming World Sandbox announced it has added more Hong Kong film, music, entertainment, drama, professional services, finance, real estate and gaming partners to create Mega City, a new cultural hub. Sandbox will launch a new LAND NFT sale on January 13, 2022, which will allow players to purchase select points near LAND from partners announced today.

Crypto Market Highlights: Tax News

Indian crypto exchange WazirX claims it has no intention of evading taxes and has carefully paid the Goods and Services Tax (GST) monthly, according to The New Indian Express. Last week the watchdog launched an investigation into the exchange’s GST bypass.

Crypto Market Highlights: Stablecoin News

Stablecoin issuer Tether (USDT) froze USDT worth over $ 1 million last week, according to on-chain data. It is unclear who owns this address, which holds many other tokens in the low five-digit range that have not yet moved out.

Crypto Market Highlights: Security News

Blockchain gaming giant Illuvium has pulled all funds from the Uniswap (UNI) pool to prevent attackers from withdrawing funds after discovering a vulnerability in its staking platform. Transaction logs from November show a number of addresses with custom contracts repeatedly depositing an amount of ILV, Illuvium Governance Token and then withdrawing an amount greater than the deposited ILV or sILV against the initial deposit before showing the proceeds. A new address will be transferred.