June 21, 2021 / Unchained Daily / Laura Shin
Daily Bits ✍️✍️✍️
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Amber Group has raised $100M at a $1B valuation
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Bitcoin miners in Sichuan, a Chinese province, were ordered to shut down; Bitcoin hashrate fell 17% as authorities cut the power to 26 mining farms
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Grayscale is exploring 13 additional assets for inclusion in its product family, including SOL, MATIC, and ICP
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Goldman Sachs has begun offering bitcoin futures with Galaxy Digital providing liquidity
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Bitcoin held by ETFs and funds has dipped to a four-month low
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Almost 50% of millennial millionaires hold 25% of their wealth in cryptocurrencies
- The #dogecar came in last place in this weekend’s NASCAR Xfinity Series Race
What Do You Meme?
What’s Poppin’?
VC interest in the crypto industry is poppin’.
In just six months, venture capital firms have invested $17B into the crypto industry, doubling the previous yearly record of $7.4B in 2018 (as reported by Bloomberg).
According to a recent report from Forbes, five of the top ten largest venture rounds in crypto history have happened since the beginning of March, including Circle, BlockFi, Dapper Labs, Blockchain.com, and Bitso.
Interestingly, as each company announced a raise of at least $250M since March 11th, the market capitalization of cryptocurrencies shrank nearly $200B (CoinMarketCap).
Recommended Reads
- @HodlNameless wrote a fantastic overview of Bitcoin’s cryptography (20 min):
- Here is a brief summary on the history of money (5 min):
- Christine Kim wrote about four common misconceptions surrounding Ethereum’s upcoming EIP 1559 upgrade:
On The Pod…
Polygon: The Layer 2 Solution Doing 8 Times as Many Transactions a Day as Ethereum
Jaynti Kanani, cofounder and CEO of Polygon, discusses why the layer 2 solution has seen so much success during a down crypto market. Show highlights:
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what factors have led to Polygon’s and MATIC’s impressive performance YTD
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how Polygon is scaling Ethereum
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what types of projects are taking off on Polygon
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how Polygon is attempting to address the issue of layer 2 composability
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how Polygon plans to use its latest funding
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why Jaynti is confident Polygon will still be necessary after ETH 2.0 launches
Book Update
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.
The book, which is all about Ethereum and the 2017 ICO mania, comes out Nov. 2nd. Pre-order it today!
You can purchase it here: http://bit.ly/cryptopians
