Issue #70

Market Overview

As of the time of writing (Monday 5pm), the total market cap of the crypto asset market is $US1.61T, up (8.9%) from last week.

Below is the weekly performance of the top crypto assets. 

News Headline Highlights

 Crypto Asset Project Updates

• Pyth, a DeFi oracle network, airdropped their native token (PYTH) to users of Pyth network ecosystems, quickly nabbing an initial market capitalization of $765m. 

Regulation Station

• The hackers responsible for the $8.5m exploit of Platypus Finance in February 2023 have been cleared of criminal charges by a French court, which found that their use of a flawed smart contract did not constitute fraud.
• The federal judge overseeing the US Securities and Exchange Commission’s (SEC) case against crypto firm DEBT Box has ordered the agency to explain apparent “false or misleading” statements that the SEC’s lawyers made while arguing for a restraining order against the company. The SEC’s lawyers face sanctions and have fourteen days to file a response to Judge Robert J. Shelby, the top federal judge in Utah.

The Weekly Deal Room

• Wormhole, a cross-chain protocol, raised $225m at a $2.5 billion valuation in a funding round from Jump, Brevan Howard, Coinbase Ventures, Multicoin Capital, Arrington Capital and others.
• OCEAN, a decentralised Bitcoin mining pool project, raised $6.2m in a Seed Round led by Jack Dorsey.
• MYX, a crypto derivatives platform, raised $5m at a $50m valuation in a Seed Round led by HongShan.
• Wind, a remittance platform built on Ethereum L2 Polygon, raised $3.8m in a funding round co-led by Global Founders Capital and The Spartan Group.
• Open Campus, a community led web3 education platform, raised $3.15m in a funding round from Binance Labs.