Weekly Deal Updates - June 24, 2024
Gm! We’re back with another Fight Club weekly newsletter highlighting top crypto news and listing new deals.
Subscribe to our monthly newsletter for a deeper dive into a trending topic in Web3 and project spotlight. This monthʻs topic is Bitcoin Scaling Solutions.
⚠️ FC does not provide investment advice. DYOR before investing.
In this newsletter:
💰New Deals💰
🔬Curated Deal 🔬
📰 Top News 📰
📈 Market Data 📉
🗞️ Sponsor 🗞️
Contact us if you would like to sponsor this newsletter.
💰🏦 Zoth RWA 🏦💰
The real-world asset (RWA) narrative continues to gain momentum, with financial institutions showing strong interest in adopting it.
Zoth is an RWA DeFi infrastructure company bringing fixed-yield products on-chain. Their products deliver fixed, sustainable, and secure yields from real-world assets. Zoth is live on Mainnet and across 8 blockchains with over $75M+ in credit originated and a further $11M deployed/contracted.
They launched Atlas, a community-incentivized portal with 1.2M+ wallets, attracting DeFi natives with sustainable on-chain RWA yields.
Zoth plans new asset classes, permissionless products, partnerships, and a token launch soon. 🚀
Follow Zoth’s journey on Twitter now!
💰 New Deals 💰
Deal participation and allocation are reserved for Fight Club NFT holders.
New to Fight Club Discord? Head to #start-here to begin the onboarding process. Select the 🧐Prospective Investor role in #role-select to reveal the deal forum.
Sanction Network $5.25mm SAFE + Token Warrant
Sanction Network aims to provide institutions with instant AI-powered AML and ZK-proof privacy assurance. It is a blockchain service layer for managing verified identities like a decentralized Carta.
Freename $3mm SAFE + Token Warrant
Freename is the fast-growing multi-chain Web3 domain namespace. Freename allows users to utilize their Web3 domains on all chains.
Bracket is building a platform for Liquid Staking that allows for the pooling of LSTs / LRTs to enhance collateral efficiency. Bracket creates high-earning passive and active trading opportunities to put LSTs / LRTs to work.
Velvet Capital $2.5mm strategic SAFT
Velvet Capital is building an intent management system for the $200B+ portfolio management market. The project provides API / SDK access to its DeFi modules enabling other projects to create a custom platform.
BigInt Social NFT Marketplace $472.5k SAFT
Built on ZKSync, BigInt Social NFT Marketplace allows users to buy and sell NFTs and BRC-20s while engaging with communities and projects.
🔬Curated Deal 🔬
Bitwala $1mm seed convertible security token
Bitwala is a hardware-grade MPC Web3 wallet focused on the Bitcoin and Ethereum communities. Bitwala supports Runes, Inscriptions, and Ordinals with partnerships that add fiat rails and a Visa credit card. Users of Bitwala will be able to invest in BTC and ETH via a self-custodied wallet, spend their crypto with merchants, and trade Ordinals, Runes, and Inscriptions.
Raise
$1mm convertible security token + 1:1 warrants seed
Expected TGE: Q3 2024
TGE price: EUR 5.00
Launch FDV: EUR 105mm
Entity: Germany
Min investment size: EUR 1,000
Co-investors: Claret Capital Partners, Pointer Capital, Coinsmart, UFOstart, Blockchain Founders Fund.
📰 Top Crypto News 📰
Here's the latest scoop from the blockchain, crypto, and Web3 world. 🚀🌐
🤖 AI Tokens Rally as NVIDIA Slumps 13% From Market Cap Peak - Despite Nvidia's stock decline, AI-related crypto tokens like Fetch.AI and SingularityNET saw significant gains, highlighting the growing interest in AI within the crypto space.
🏛️ Cryptocurrency Market News: Bitcoin Briefly Slips Below $60K, SEC Drops Ethereum Probe - Bitcoin's price struggles continue, and the SEC has concluded its investigation into Ethereum without pressing charges. Hashdex has applied for a spot bitcoin-ether ETF.
📉 Bitcoin Posts Biggest Drop in Two Months as Liquidations Pick Up - The crypto market faced significant losses, with Bitcoin experiencing its second-largest weekly drop of 2024. The decline is attributed to waning interest in Bitcoin ETFs and monetary policy uncertainties.
📉 Crypto Investment Products See $1.2 Billion Outflow in Two Weeks as Investors See 'Weakness' in Altcoins - Cryptocurrency investment products saw significant outflows, with investors showing weakness in altcoins. The trend reflects broader market uncertainties.
💰 Pantera Capital is Raising Funds for a Second TON Token Investment - Pantera Capital is doubling down on its investment in the TON token, highlighting the growing interest in Telegram-based crypto projects.
🏛️ Hong Kong Parliament Sets Up Crypto Legislative Subcommittee - Hong Kong is taking steps to regulate and support the crypto industry, showing increased governmental interest in blockchain technology.
🏦 Standard Chartered Launches Spot BTC, ETH Desk - Standard Chartered is setting up a trading desk for Bitcoin and Ether, marking a significant move by a major bank into crypto trading.
🕵️ Don't Tell Anyone, but Private Blockchains Handle Over $1.5T of Securities Financing a Month - Private blockchains quietly handle massive amounts of securities financing, showcasing the technology's real-world applications.
📊 Are Market Makers Manipulating 78% of New Crypto Listings? - A study suggests that a majority of new token listings may be subject to market manipulation.
💼 Jump's Kariya, Who Went From Intern to Crypto Leader, is Leaving the Trading Giant - Kanav Kariya, president of Jump Crypto, is departing the firm amid a reported CFTC investigation.
📈 Crypto 'Secondaries' Prices Jump as Expectations of IPOs Climb - Private shares of crypto companies are seeing increased demand as investors anticipate potential public listings.
⚡ Energy Giant EDF Subsidiary Joins Cronos as a Blockchain Validator - A subsidiary of France's state-owned energy company EDF has become a validator on the Cronos blockchain network.
📈 Market Data 📉
DEX Weekly Transaction Volume by Chain
Source: DefiLlama One-Year Weekly Transaction Volume
Top Cryptocurrencies
Source: CoinGecko Closing Prices.
Significant Gainers and Losers
Criteria: 1) Volume (24h) > US$50,000; 2) Have gained or lost the most in the last 7 days.
Active Gainers:
Active Losers:
Source: CoinMarketCap as of June 23, 2024.
Market Sentiment and Indicators
Crypto Fear and Greed Index: The index value began at 74 Greed, dramatically dropped during the week, and ended at 30 Fear. The index is recalculated daily, reflecting the emotional state of the market, which can influence trading behaviors.
Source: Crypto Fear and Greed Index
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