Janet Yellen's Word Soup 📜🪶⛩️

Valko

Janet Yellen's Word Soup 📜🪶⛩️ Valko

Specs’ Insights

Treasury Secretary Janet Yellen calls on Congress to pass crypto legislation.

⌐◪-◪ → Congratulations Janet, this is the most comically vague and bland word-soup I’ve heard in my entire life. You have to listen.

Usually headlines like, “US Treasury Secretary….regulate crypto” have me worried, but if this is what we’re up against then I’m not worried at all.

Honestly, we should probably push for age limits in Congress because this was super painful to listen to.

With that said, it does sound like the current administration is pissed about all the success crypto exchanges, stablecoins, and spot BTC ETFs are seeing.

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Consensys's MetaMask incorporates features Robinhood to facilitate easier crypto purchases

The integration aims to reduce friction for users purchasing cryptocurrency using Robinhood's order engine.

⌐◪-◪ → Boom, another killer crypto integration that will drive mainstream adoption. Yesterday we had ENS ↔ GoDaddy, today we have MetaMask ↔ Robinhood.

This aligns closely with my long-term thesis that TradFi providers will eventually be nothing more than mere interfaces to a blockchain-based global economy.

In other words, their role will simply be to onboard users, make the blockchain easy to use, provide custody solutions that help users stay/feel safe, and help comply with local regulations/taxes.

It’s a matter of IF not WHEN the entire stock market moves on-chain and your local wealth advisor is fulfilling orders using a DEX. It’ll take time, but we’ll get there.

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@MagicEden Announces @Azuki Partnership

⌐◪-◪ → Azuki just announced a partnership with Magic Eden, who announced the same with Pudgy Penguins yesterday, and Yuga Labs late last year.

The projects have all endorsed Magic Eden as their preferred marketplace over Blur and OpenSea and will advise Magic Eden on the development of their new ETH marketplace.

Seems like a great deal for Magic Eden, more volume + strategic advisory, but it leaves me wondering — what’s in it for the NFT projects?

Are they getting paid more, do they get lower rates, stronger royalty enforcement, enhanced marketplace discoverability — or is it simply another “hype” partnership announcement?

Whatever the case, this is definitely bad news for OpenSea’s acquisition aspirations.

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Everything Else

⛓️ Crypto & DeFi

Ethereum devs deploy Dencun upgrade on Holesky testnet
Rollup platform Dymension’s DYM hits $5.2B valuation
Hacker claims to have accessed law enforcement system, Kodex
Citrea launches first ZK Rollup on Bitcoin, enhancing blockspace
Whales buy $50M of Chainlink’s LINK token, up 40% in 30D
Solana network restarts after 5-hour outage, yikes

🏦 Wallstreet & VC

MicroStrategy acquired 850 Bitcoin for $37.2M in Jan
Ondo Finance's US Treasury-backed stablecoin expands to Sui
Anchorage Digital partners with FusionIQ to expand institutional users
LightLink secures $4.5M seed round for “multiverse project”
Gilf raises $4.5M from Multicoin Capital for Filecoin protocol

🏛️ Legal & Regulatory

SEC delays Invesco Galaxy spot Ether ETF application
Judge approves confidential settlement between BlockFi and 3AC
Craig Wright denies forging evidence that he’s Satoshi
SEC adds stricter rules for dealers with some crypto implications
Digital Currency Group slams Genesis for unfair payment plan
Federal Reserve ends enforcement on FTX-linked Farmington Bank

🌎 Rest of the World

OKX faces probe in South Korea for soliciting Jumpstart on Telegram
Thailand waives 7% value-added tax on crypto gains
South Korea to enforce crypto laws with potential life sentence
Hong Kong Chamber of Commerce calls for CBDC issuance budget
B2C2 expands to Luxembourg with local VASP registration
Crypto carbon credits exchange is created in Germany

🖼️ NFTs & Metaverse

Taproot Wizards Qunatumn Cats collection already trading at 3x
Bluesky opens to the public amid Farcaster’s absolute dominance
DeGods partner with Wormhole, y00ts up 40%
RSIC crosses 500 BTC in volume, was airdropped for free 15D ago

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