š IPO-Eve
Santa... Is That You? And So Soon?
Good Morning. In case you didnāt sleep well, weāve got a dream or two you can read about.
In todayās edition:
Canāt not talk about the Coinbase IPO
Rapper Nasā smart investments
Ethereum hits puberty, gets another credit card
āI just realized that āLet me check my calendarā is the adult version of āLet me ask my mom.'āāNoelle Chatham
Quick Bites
ā Crypto. Bitcoin, Ethereum, and their annoying little brother Dogecoin all reached new all-time highs on the eve of the historic Coinbase public listing. Meanwhile, most of crypto Twitter changed their profile pics to couches. Yes you read that right.
š Stonks. If you thought SPACs were going out of style, think again because Singapore app āGrabā is going public via SPAC with a record breaking $40 billion dollar valuation.
š Space Race. Japanese start up iSpace announces plans to send rover to the moon in 2022. Space Race 2.0 anyone?
A Chaotic Coinbase IPO-Eve š
The week leading up to the Coinbase IPO has been like a ridiculous dreamācompanies piling in to add Bitcoin to their balance sheets, the entire crypto market reaching all-time highs, andāyou knowāthe whimsical crypto-couch Twitter thing.
But the big news is the Coinbase IPO, and even though here at Zoomer Money weāre rooting for decentralized exchanges, itās a step forward for the legitimacy of cryptocurrency as a whole.
$COIN drops into the stock market with 114,850,769 shares, with a fully-diluted value of around $100 Billion. If Coinbaseās numbers are your thing, thereās lots more of them on Nasdaq.
Nas Donāt Miss šÆ
Back in 2013 Nasā investment firm QueensBridge Venture Partners (coolest VC firm name ever btw) got in on Coinbaseās series B round back when the young crypto startup was valued at $147 million. The predicted valuation for Coinbase today would net Nasā investment firm north of $100 million. Nas was also an early investor in startup Ring that sold to Amazon. Who else wants a business class taught by the greatest rapper of all time? (Sorry Kanye fans, but we took a vote here in the office)
Mastercard Hops on the Blockchain Train š
Mastercard announced a partnership with ConsenSys, a blockchain engineering firm founded by Ethereum co-founder Joseph Lubin, to provide an open source protocol for enterprises built on the Ethereum network. UBS and JPMorgan also thought that sounded like a good idea and hopped on the ConsenSys-led blockchain bandwagon.
āThe accelerated shift of financial services to blockchain is continuing to reshape how businesses, governments and people transact around the world in real time,ā
-Raj Dhamodharan, executive vice president of Digital Asset and Blockchain Products & Partnerships at Mastercard.
Looking aheadā¦
Ethereumās future looks bright (sunglasses may be in order), with the mingling of traditional and blockchain-based financial tech. Finance as we know it is getting a software update that is long overdue, the combination of institutional adoption and successful updates to the Ethereum network paint a hopeful road ahead for Bitcoinās little bro.
The next major update to Ethereum, dubbed āBerlinā is scheduled for today (coincidentally, heavily overshadowed by Coinbase day.) This update is the first step in addressing Ethereumās high network fees.
The highly anticipated EIP-1559 (Ethereum Improvement Proprosal) is due for July, further addressing the Ethereum network fees.
ETH 2.0 well under-way with 3.8 million Ether staked for ETH 2.0, showing that the community is supporting the move to Proof of Stake and proving that yes, you can be a crypto enthusiast AND environmental enthusiast too.
The Most 2021 Thing Ever?
The latest New York Magazineās cover story playfully mocks our bread-and-butter, but honestly weāre flattered.
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