W3J Daily (9/11): Casper raises $14.5M, Facebook Libra seeks Switzerland payment license

Editor’s Note: Hi friends! I was writing a weekly Web3 Journal newsletter, but decided to also offer a daily newsletter that will cover everything you need to know about what’s moving the crypto market. Specifically, the daily newsletter will cover a mix of news events that move crypto prices, adoption news, as well as curation of the most insightful tweets of the day.

I used to write and curate the LAUNCH Ticker newsletter under angel investor Jason Calacanis, which is an awesome newsletter for startup and VC news as well.

This is the first issue, and hope you all like it! The weekly newsletter will also resume this week. I’ll be writing the daily letters with the help of my friend @gbogikian.

- Andrew Lee (@alee)


Top News Of The Day

Casperlabs raises $14.5M from Acuitas Group Holdings. Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global. - Link

Facebook seeks a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for Libra, according to Reuters. - Link

SEC Chairman Jay Clayton comments on the difficulties of approving a Bitcoin ETF due to unregulated exchanges and price manipulation: “An even harder question given that they trade on largely unregulated exchanges is how can we be sure that those prices aren’t subject to significant manipulation?”. - Link

Binance to block all US customers on 9/12. - Link

Tether launches CNH₮ ERC-20 stablecoin pegged to CNH. - Link

OKEx to list Hashgraph, which raised $124M, on 9/17. - Link

2017 ICO GXChain gets shut down and office emptied by Chinese officials, according to Primitive’s Dovey Wan. - Link

Coinbase is looking into “IEO space” and STOs, according to Coinbase’s head of institutional sales in Asia Kayvon Pirestani. - Link

Akon promotes Bitcoin on NYC radio show. - Link

Google releases open-source differential privacy library, which is similar to ZKP in how it allows developers to analyze data without violating individual data privacy. - Link

Gemini launches Gemini Custody service which allows for multi-signature offline storage for BTC, BCH, ETH and 15 more digital currencies. - Link

Binance launches invite-only access to futures trading and hits $150M in volume on first day. - Link

Joseph Lubin joins Hyperledger board. - Link

Stellar to airdrop $121M in XLM tokens to users of encrypted chat app Keybase. - Link

Unlock Protocol launches a Wordpress Plugin that automatically hides content to visitors that are not confirmed subscribers verified via web3 wallet service. - Link

Placeholder’s Joel Monegro argues how Ethereum “may not be the ‘best’ technology, but it works well enough and has amassed a distribution advantage that will be hard to overcome by its competitors.” - Link

USV’s Fred Wilson writes how “Bitcoin is the one protocol that has found lasting product-market fit” and crypto hasn’t gone mainstream yet. ETH “remains hard to build on, scaling issues abound, and many developers are looking elsewhere.” - Link


Top Tweets Of The Day

“Repeat after me:
Money is more about trust than it is about tech.
Money is more about trust than it is about tech.
Money is more about trust than it is about tech.” - Eric Lombrozo (@eric_lombrozo)

“#crypto growth (demand as an asset) or wider DeFi mass adoption isn’t coming from The West it’s coming from Tier 2-6 cities in China + SE Asia
People are calling the 💀 of it all but it’s not even started
Meanwhile Western VC are pushing back / ruling out tokens entirely” - Jamie Burke (@jamie247)

“In 3 months @terra_money became the 3rd most used Blockchain after BTC and ETH.” - Lasse Clausen (@lalleclausen)

“On-chain incorporation will turn corporate charters into code.
Every shareholder vote will be performed via digital wallets.
Every liquidation waterfall will be expressed as a function.
The nation states that first recognize on-chain vehicles will be advantaged as domiciles.” - Balaji S. Srinavasan (@balajis)

“FTX is hosting a trading competition next month called Battle Royale!
You can:
1) trade, and win prizes if you do well
2) stake FTT on your favorite traders, and win prizes if they do well
3) win prizes if your followers stake you
More details here! https://battle-royale.ftx.com” - SBF (@SBF_Alameda)

“Three days after launch, the VanEck bitcoin trust for institutional investors has reportedly managed to issue a whopping 1 (one) basket. It has 4 bitcoins or $41,400 in assets under management. Massive.” - Alex Krüger (@krugermacro)

“Chart is nothing alike 2018's.
2018: peak retail driven, mass euphoria, widespread dumb media coverage (e.g. how to buy Ripple above $2?), price below MAs.
2019: peak not retail driven, no mass euphoria, increasing narrative of $BTC as safe haven asset, price at or above MAs.” - Alex Krüger (@krugermacro)

“Now in all seriousness, 2017's alt season was an aberration. It happened as dumb money chased alts, hoping to catch the next ethereum.” - Alex Krüger (@krugermacro)

“Your product's user acquisition strategy can be as defensible as the features and product itself. Some acquisition channels -- like ads -- are "wide," where any product can use it, both startups or big cos can plug, and it's easy to get started. These are the least defensible!” - Andrew Chen (@andrewchen)

“Startup vanity: Valuation, Press, Funding, # of Employees, Offices, Meetings w/ famous people, Meeting to give lots of advice
Success: Revenue, Users, Word of mouth, Retention, Servers on fire, Emails asking for features, Meetings w/ users” - Suhail (@suhail)

“Pleased to see there are hardly any ICO booths at @coindesk Invest:Asia this yr in Singapore” - Su Zhu (@zhusu)

“Such confidence in Bitcoin is splendid, but a 94,500 BTC tx tempts fate. If recipient can make that much from reversing the tx, they can afford to run a 51% attack for more than 40 days. Big if & very visible, but security here depends more on trust & less on the protocol itself.” - Nick Szabo (@NickSzabo4)

Some acquisition channels -- like ads -- are "wide," where any product can use it, both startups or big cos can plug, and it's easy to get started. These are the least defensible!” - Andrew Chen (@andrewchen)

“It takes 10,000 hobbyists to change the world
10,000 Usenet hobbyists gave us the internet
10,000 Homebrew computer hobbyists gave us the PC revolution
10,000 Bitcoin hobbyists gave us money without authorities
10,000 DeFi hobbyists are now giving us a bankless money system” - Ryan Adams (@RyanSAdams)