Santa... Is That You? And So Soon?
Good Morning. In case you didn’t sleep well, we’ve got a dream or two you can read about.
In today’s edition:
Can’t not talk about the Coinbase IPO
Rapper Nas’ smart investments
Ethereum hits puberty, gets another credit card
“I just realized that ‘Let me check my calendar’ is the adult version of ‘Let me ask my mom.'”—Noelle Chatham
⛓ 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.
📈 Stonks. If you thought SPACs were going out of style, think again because Singapore app “Grab” is going public via SPAC with a record breaking $40 billion dollar valuation.
🌗 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 🎄
The week leading up to the Coinbase IPO has been like a ridiculous dream—companies piling in to add Bitcoin to their balance sheets, the entire crypto market reaching all-time highs, and—you know—the whimsical crypto-couch Twitter thing.
Nas Don’t Miss 🎯
Back in 2013 Nas’ investment firm QueensBridge Venture Partners (coolest VC firm name ever btw) got in on Coinbase’s series B round back when the young crypto startup was valued at $147 million. The predicted valuation for Coinbase today would net Nas’ 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 🚂
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.
“The accelerated shift of financial services to blockchain is continuing to reshape how businesses, governments and people transact around the world in real time,”
-Raj Dhamodharan, executive vice president of Digital Asset and Blockchain Products & Partnerships at Mastercard.
Ethereum’s 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 Bitcoin’s little bro.
The next major update to Ethereum, dubbed “Berlin” is scheduled for today (coincidentally, heavily overshadowed by Coinbase day.) This update is the first step in addressing Ethereum’s 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 Magazine’s cover story playfully mocks our bread-and-butter, but honestly we’re flattered.