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Happy Friday Everyone! 👋
This week Miami got its own charging bull statue for Crypto Week and today GRIT subscribers get the first installment of What’s Moving Crypto: THREE things moving crypto this week that you need to know in 60 seconds!

Look out for these in your inbox every Friday morning at 10 am EST.
Let’s get to it!
Biggest crypto merger ever
Terra buys the dip (again)
FTX is investing in TradFi
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1. Biggest crypto merger ever

Last year, merger & acquisition (M&A) activity in the US crypto sector was red hot with nearly $5B worth of deals inked.
If the first quarter of 2022 is any indication, this year will bring more of the same as the sector has struck ~$1.25B worth of deals over the first three months, which puts it on pace to break last year’s total of $4.9B.
This week San Francisco-based Fintech firm Bolt Financial made a big the biggest splash (non-SPAC) in crypto M&A yet after announcing the acquistion of Wyre Payments for around $1.5B.
Wyre supports blockchain-based payments and allows users to exchange cryptocurrencies (and national currencies) between banks and crypto wallets.
The move will enable crypto transactions for Bolt’s one-click checkout service which faces stiff competition in Apple Pay and PayPal.
2. Terra buys the dip (again)
Ho hum—just a day in the life of a crypto billionaire! Honestly, the most surprising thing on this list is that he actually vacuums the house himself.
Anyway, Terra is executing the MicroStrategy—which has a $5.2B market cap while holding $5.4B Bitcoin—playbook better than MicroStrategy is after adding another 5,040 (~$230M) to its balance this week.
The move comes on the heels of a separate $135M BTC purchase last week.
This is all part of Terra’s plan to build a $10B Bitcoin reserve to back its TerraUSD (UST) stablecoin, which—as co-founder Do Kwon puts it—will “open a new monetary era of the Bitcoin standard”.
Terra still has a ways to go to get there: reserves currently total 35,768 BTC, or ~$1.6B.
Terra’s LUNA token has outperformed many other cryptocurrencies recently, making all-time highs this week and solidifying its spot in the top 10 by market cap (8th, $37.5B).
3. FTX is investing in TradFi

FTX is on a mission to help establish a market structure for buying, selling, and trading digital assets.
This week it took a step towards that end by signing an agreement to make a strategic investment in the SEC-approved Investors Exchange (IEX).
The deal marks the first time FTX invests in a US-regulated exchange and it’s aligned with CEO Bankman-Fried’s goal to establish a structure for crypto that cooperates with regulators.
The terms were undisclosed, but the deal makes FTX a “significant shareholder” in IEX.
The collaboration will provide crypto services to retail and institutional investors using IEX’s existing infrastructure and regulatory principles.
FTX has been reaching into other areas of traditional finance lately too.
Last week it invested $100M in the mobile banking app, Dave, via its venture capital arm FTX Ventures.
This week TechCrunch reported the company may be making another push in the Web3 space with a possible investment in Indian gaming startup Mobile Premier League.
And speaking of FTX making notable investments….
To understand why Genevieve invested in Bridge alongside heavy hitters like FTX (one of the biggest exchanges in the world) become a PAID subscriber to GRIT CRYPTO
We are proud to announce the close of our $3.8M round with backing from @FTX_official @MEXC_Global @master_ventures @blockfinex @GRDecter @gda_capital & other industry leaders to build a better cross-chain experience for the entire multichain world! 🤝
https://t.co/m8tjHBhGzw
— Bridge Network (@bridgenetwork0x)
Apr 6, 2022