The Last 168 Hours in DeFi

Volatility continues and bargain prices, errr same as last week

ALPHA:

As Ethereum Layer 2 and other Ethereum Virtual Machine compatible blockchains pick up, the best way to move tokens across different ecosystems is with Synapse. They have routinely been the first bridge to add new chains and are the best team in the space.

Also, make sure you’ve been interacting with Snapshot, an offchain DeFi voting protocol. They just raised some money and it’s very likely they will be doing a token airdrop for previous users.

Andrew Thurman @Blockanalia

I don't see why the Snapshot token drop can't be bigger than the ENS drop

CoinDesk @CoinDesk

One of the most important pieces of DAO infrastructure just closed a funding round, and a token from @SnapshotLabs could be on the horizon. @Blockanalia reports https://t.co/z4DQWTalxx

MARKET:

The pullback this week was quite dramatic as $BTC dropped from an all-time high of $69k (nice) to $55.5k. This seems mostly like a ‘healthy pullback’ in a bull market as on chain metrics show BTC and ETH continue to drop on exchanges (held in wallets or DeFi). Here’s a great thread about the complexity when price and on-chain metrics conflict.

Two Comma Pauper @twocommapauper

There's a 99% chance that CT is about to get spammed with Wyckoff distribution pattern forecasts such as this in the coming days. Are are we at a #Bitcoin macro top? A🧵

NEWS:

The Block @TheBlock__

Paradigm launches $2.5 billion venture fund for crypto companies

theblockcrypto.comParadigm launches $2.5 billion venture fund for crypto companiesVC firm Paradigm has announced a new $2.5 billion venture fund for investing in crypto companies and protocols.

The Block @TheBlock__

ConsenSys closes $200 million raise at $3.2 billion valuation (via @_tommatsuda)

theblockcrypto.comConsenSys closes $200 million raise at $3.2 billion valuationConsenSys has raised $200 million from investors including Coinbase, HSBC and Marshall Wace, tipping its valuation to over $3.2 billion.

CNBC's Fast Money @CNBCFastMoney

In crypto we trust? A group of crypto investors have pulled together more than $3M to bid on a rare copy of the U.S. Constitution this Thursday. @ConstitutionDAO and @packyM explain why and the significance. $ETH

Shams Charania @ShamsCharania

Staples Center – the iconic home of the Los Angeles Lakers and Clippers among others since 1999 – will have a new name beginning Dec. 25: Crypto.com Arena. It’s believed to be the largest U.S. venue naming rights deal to date.

crypto.comCrypto.com | The Best Place to Buy, Sell, and Pay with CryptocurrencyCrypto.com is on a mission to accelerate the world’s transition to cryptocurrency. Through the Crypto.com Mobile App and Exchange, you can buy 150+ cryptocurrencies and stablecoins, such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL) and etc. Purchase with a credit card, debit card, c…

NYDIG and Rockets paying NBA players in BTC

Time Magazine holds ETH on the balance sheet

NFTs:

NFL NFTs!

RUGS:

We didn’t win the Constitution auction, but the attempt raised incredible PR move for DAOs and crypto.

ConstitutionDAO (📜, 📜) @ConstitutionDAO

We didn't get the Constitution, but we made history nonetheless. We broke records for the largest crowdfund for a physical object and most money crowdfunded in 72h, which will of course be refunded to everyone who participated. To all our 17,437 contributors, THANK YOU ❤️

REGULATORY:

Bitcoin Magazine @BitcoinMagazine

JUST IN - Senators introduce bill to amend new #Bitcoin and crypto tax reporting rules.

POD ‘O THE WEEK:

My favorite quantitative analyst was on Bankless.