El Salvador Postpones Bitcoin Bond Launch While Thailand Bans Crypto Payments
The world was disappointed when El Salvador announced the postponement of his long-awaited bitcoin-backed bond originally scheduled for last week. The $1 Billion Bonds building a Bitcoin city can now be delayed until September 2022.
According to Finance Minister Alejandro Zelaya, the decision to delay the bitcoin bond was made due to unfavorable market conditions. The Central American government plans to wait for more favorable financial market conditions before issuing the bond.
As of April 1, Thais will no longer be able to pay for goods and services using digital assets following the ban by the Securities and Exchange Commission (SEC). As a result, crypto exchanges and service providers will no longer operate in Thailand from April 1.
The decision is in line with the Bank of Thailand’s position that it does not support crypto as a payment method. The SEC and the BOT have long been discussing the need to regulate crypto activities in the countries as it could affect the financial stability of the country.
Katie Haun Launches $1.5 Billion Crypto Fund, Yuga Labs Raises $450 Million From a16z, and Qualcomm Launches $100 Million Metaverse Fund
Former Andreessen Horowitz (a16z) partner Katie Haun has successfully Raised $1.5 Billion – the largest debut fund ever raised by a solo female venture capitalist. The crypto fund wants to focus on Web 3.0, the future of the internet.
The $1.5 billion raised for Haun Ventures will be split between two funds. $500 million is allocated to early-stage investments, while $1 billion is earmarked for the acceleration fund for later-stage projects.
The company behind the iconic Bored Ape Yacht Club NFT collection, Yuga Labs, has completed a $450 million round of funding backed by a16z. The fund is expected to be used to establish an open Metaverse called ‘Otherside’.
Qualcomm is investing heavily in extended reality (XR) launched a massive $100 million Metaverse fund. Qualcomm plans to use the fund to enable developers to contribute to XR-backed gaming, media and health reforms.
As a seemingly inevitable trend, mega corporations are starting to invest in the cryptocurrency industry.
Grayscale Investment Launches Fund for Smart Contract Platforms
The publishers of the largest Bitcoin fund, Grayscale Investment, have launched a new fund that allows investors to bet on popular smart contract platforms. This is Grayscale’s 18th investment product.
The Grayscale Smart Contract Platform Ex-Ethereum Fund trades under the ticker GSCPxE and offers exposure to seven smart contract platforms. The products are weighed as follows.
Cardano (ADA): 24.63%
Solana (SOL): 24.27%
Avalanche (AVAX): 16.96%
Polka Dot (DOT): 16.16%
Polygon (MATIC): 9.65%
Algorand (ALGO): 4.27%
Stellar (XLM): 4.06%
Grayscale’s latest fund offers investors exposure to leading Ethereum competitors. While Ethereum currently dominates the smart contract market, people like JP Morgan have predicted it could lose its dominance to competing chains.
Grayscale CEO Michael Sonnenshein emphasized that the fund was created because he believes investors want “diversified exposure” across the crypto market.
Crypto.com Becomes World Cup Sponsor, NFL Teams Can Sign Blockchain Sponsorship
Singapore-based crypto exchange, crypto.comhas announced one of its biggest sports deals to date and becomes the official crypto sponsor of the 2022 World Cupwhich will take place in Qatar this autumn.
According to the Announcement, Crypto.com will gain brand awareness both inside and outside the stadiums of tournaments. In addition, during the tournament, the exchange will “activate its official sponsorship in many ways”.
In related crypto in sports news, the National Football League (NFL) has its restriction on crypto† According to a memo from the NFL, teams can now seek sponsorship from blockchain companies.
The NFL has placed a three-year maximum duration on blockchain company sponsorships to “future flexibility†† It also hopes the move will help the NFL make progress with the technology.
Thanks to its massive viewership, the sports industry is becoming a major driver of mainstream crypto adoption.