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Nasdaq jumps into crypto

WHAT’S MOVING CRYPTO
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Aakash Athawasya
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Nasdaq jumps into crypto

WHAT'S MOVING CRYPTO

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With macro firmly in the driver’s seat for the time being, we’re keeping an eye on everything happening “off the field”.

This week, in a lawsuit filed against a crypto influencer, the SEC used language that suggests it considers the entire Ethereum network to be under its jurisdiction.

Over in the US House of Representatives, a bill has been drafted that would criminalize the issuance of algorithmic stablecoins (think Terra).

Meanwhile, across the pond, US dollar-pegged-token enthusiasts scored a win as the EU dropped limitations on stablecoins from its landmark “markets in crypto-assets” (MiCA) regulatory framework.

Having said that…let’s get to it!

  1. Nasdaq jumps into crypto

  2. Nomura launches crypto VC unit

  3. VC firms want equity, not tokens

1. Nasdaq jumps into crypto

Nasdaq () has already had its toes dipped into the crypto waters.

Crypto exchanges have been using the company’s matching engine technology while other firms in the crypto sphere outsource its surveillance and trading software.

Now, the world’s second-largest stock exchange is going head first by creating a new digital assets division that will act as a custodian of digital assets and initially offer Bitcoin and Ethereum to institutional investors.

As such, it will be competing with players like Coinbase and BitGo, while also bringing an entirely different (and refreshing?) air to the space.

Eventually, Nasdaq’s aim is to offer additional solutions like execution and liquidity services, and possibly even a crypto exchange.

“We believe this next wave of the revolution is going to be driven by mass institutional adoption. I can think of no better place to bring that trust and brand to the market than Nasdaq.”

Wall Street establishment firms are no longer “wading” into crypto—they’ve taken the downturn as an opportunity to jump in.

2. Nomura launches crypto VC unit

Japan's largest investment bank Nomura readies new crypto subsidiary

On the other wide of the world, another major player in the global finance industry is also making moves to cement its place in the crypto sphere.

Back in May, Nomura—one of Japan’s largest investment banks with mover $450 billion in assets under management—announced that it would be creating a crypto company.

This week, the finance giant announced the creation of a new digital assets business which will act as its foothold in the space

“Staying at the forefront of digital innovation is a key priority for Nomura.”

The forefront = crypto.

Laser Digital’s first order of business is launching Nomura’s first VC unit which has been named Laser Venture Capital.

The VC firm will look to invest in the digital ecosystem with a focus on DeFi, CeFi, web3, and blockchain infrastructure startups.

Like we said, jumping in.

3. VC firms want equity, not tokens

The landscape that Laser Venture Capital is entering has been shifting.

For crypto VC, the new favorite route to invest in startups is no longer via pure token sales and SAFTs (Simple Agreements for Future Tokens).

With increased uncertainty around US “regulation” and even more confusion surrounding what does and does not constitute a security, investors have shied away from putting tokens at the heart of deals.

Instead, the trend for crypto VC firms has shifted to hybrid deals which combine traditional equity stakes with tokens thrown in (on a nominal basis with no value attributed) as sweeteners of sorts.

Another reason for the shift? Control. Tokens allow for some governance but have their limitations.

Equity, on the other hand, provides far more rights which means this new formula for crypto VC deals is likely to stay.

SOURCES*
3. The Block

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Disclaimer:The publisher does not guarantee the accuracy or completeness of the information provided in this page.  All statements and expressions herein are the sole opinion of the author or paid advertiser.

Grit Capital Corporation is a publisher of financial information, not an investment advisor.  We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.  

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.  THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.  INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.  

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.  They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.  Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.  The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).  To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

Gritcapital.substack.com (“Grit”) is a website owned and operated by Substack. Grit is paid fees by the companies that make investment offerings on this website. Be aware that payment of these fees may put Grit in a conflict of interest with the investor. By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof. The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation. Grit is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration. Grit does not provide advice on investments or structure transactions. Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act. In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. Grit does not verify the adequacy, accuracy or completeness of any information. Neither Grit nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site. Neither Grit nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website. Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.