Issue #80

Market Overview

As of the time of writing (Monday 5pm), the total market cap of the crypto asset market is $US1.89T, up (9.9%) from last week.

Below is the weekly performance of the top crypto assets. 

News Headline Highlights

 Crypto Asset Project Updates

• Ethereum developers announced March 13 as the target date for its long-awaited Dencun upgrade. The Dencun upgrade is primarily known for its "proto-danksharding" feature, which is expected to reduce costs for transactions on "Layer-2" networks by up to 90%.
• The Solana Blockchain experienced an outage, rendering it unusable for five hours on Tuesday. A post-mortem report on this week’s Solana network outage pointed the finger at a previously known bug.
• GoDaddy, the global leader in domain registration, announced a partnership with Ethereum Name Service (ENS), a pioneer in blockchain-based naming systems. The partnership will enable domain name users to link their domains to ENS effortlessly, with no additional costs or technical experience required.

Regulation Station

• U.S. Treasury Secretary Janet Yellen told lawmakers that the government's financial risk watchdogs want there to be a minimum level of federal oversight of stablecoin issuers – a system that sets universal compliance standards beyond what states like New York and Texas currently impose. The council of financial regulators she leads "believes it's critical for there to be a federal regulatory floor that would apply to all states and that a federal regulator should have the ability to decide if a stablecoin issuer should be barred from issuing such an asset".
• Hong Kong announced plans to consult the public/industry on a framework for over-the-counter (OTC) crypto venues "very soon". The consultation will cover virtual-asset (VA) outlets such as shops and online platforms, the Financial Services and the Treasury Bureau (FSTB).

The Weekly Deal Room

• Superform Labs, a universal yield marketplace, raised $6.5m in a Seed Round led by Polychain Capital.
• Omega, a decentralized infrastructure that will redefine omnichain & Bitcoin DeFi, raised $6m in a Private Round from Borderless Capital, Alpha Lab Capital, Psalion and others.
• Flood, a decentralised exchange aggregator, raised $5.2m in a Seed Round led by Bain Capital Crypto.
• GLIF, a Filecoin liquid staking service, raised $4.5m in a Seed Round led by Multicoin Capital.
• Lightlink, an Ethereum L2 blockchain that lets dApps and enterprises offer users instant, gasless transactions, raised $4.5m in a Seed Round co-led by T&B Media Global Thailand and MQD.
• Startale Labs, a web3 infrastructure company, raised $3.5m at a $63.5m valuation in a Series A from UVM Signum Blockchain Fund, Sony Network and Samsung Next Ventures.
• Fuzzland, a company building tools for devs, traders, MEV bots, and auditors to quickly and accurately analyse any smart contracts, raised $3m in a Seed Round led by 1kx.