Investment bank Cowen adds two new hires to its crypto-division as the firm continues to hire and grow amid the crypto bear market.
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Founded by Polygon’s Sandeep Nailwal and Cere’s Kenzi Wang, Symbolic Capital will look to target web3 startups located in emerging markets.
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Quick Take
- The market capitalization of the top 50 GameFi tokens declined by over 60% between January and August 2022, roughly equivalent to the decrease in the market capitalization of the top 50 DeFi tokens.
- As of August 18, 2022, there are 1,575 GameFi projects. 40% of these games exist on BNB Chain, 26% on Ethereum, and 15% on Polygon.
- Many games are pivoting towards the free-to-play (F2P) model to lower the high entry barrier of the current iteration of GameFi. However, the sustainability of token economics remains unsolved in both premium and F2P game models.
- Alien Worlds, Axie Infinity, Solitaire Blitz, Splinterlands, and Upland, are the 5 most popular blockchain-based games based on daily active addresses.
The news follows a $200 million raise in February which valued Alchemy at over $10 billion and recent integrations with Polkadot and Solana.
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Thailand’s oldest bank SCB has abandoned its planned $500 million deal to buy crypto exchange Bitkub, citing regulatory issues.
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Crypto ATM company Bitcoin Depot has struck a deal with a SPAC that should see it go public at an $885 million valuation.
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Haun Ventures has led a $24 million round into web3 developer platform Thirdweb, at a valuation of $160 million.
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Nvidia confirmed that its second-quarter earnings missed its expectations.
The post Nvidia misses on Q2 earnings as gaming revenue plunges 33% appeared first on The Block.
Quick Take
- Bitcoin miner Argo updated its end-of-the-year hash rate guidance from 5.5 to 3.2 EH/s.
- The company also reported a pre-tax loss of £36.9 million ($44.9 million) in the first half of 2022.
Coinbase is launching its own liquid staking token, called cbETH, ahead of Ethereum’s Merge — and hopes to cut into Lido’s dominance.
The post Coinbase unveils liquid staking token for Ethereum ahead of The Merge appeared first on The Block.
