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Hashed’s investment thesis focuses on Web 3.0, “which is set to revolutionize the users’ interactions with the next generation of the internet, such as NFTs, DeFi, GameFi, etc.” The company also promoted Sean Hong and Baek Kim, two long-time members of Hashed, to partners.

NFTs news

  • Non-fungible token (NFT) platform Sloika has recently closed a USD 2m seed funding round led by The Control. The project aims to offer a platform for photographers to reclaim ownership of their work in a Web3 environment.
  • NFT incubator NFT Investments has announced it has invested USD 1m in NFT Studios, which aims to produce Hollywood feature films funded exclusively through NFTs.


“The funding will facilitate navigating in the regulatory space for #DeFi in Europe and the US in a bid to onboard institutions into #1inchPro, a compliant product for institutional customers,” the tweet continued.

The Next Big DEX Opportunity

On the company blog Sergej Kunz, co-founder of the 1inch Network, was keen to emphasize where the project expects the next big growth opportunity to arise.

“While continuing to keep the existing DeFi audience happy by delivering state-of-the-art products, 1inch also aims to become a gateway for institutions that want to be part of the DeFi space,” he said.

Kunz went on, estimating an enormous asset shift, to which he hopes 1inch to play a pivotal role.

“The next $1 trln of assets entering DeFi will come from institutions rather than retail users, and 1inch would like to facilitate entry for them.
AQRU’s fully insured facility protects investor funds from theft and hacking, and offers access to major cryptoassets bitcoin and ether, as well as three stablecoins: USDT, USDC, and DAI.

Mining news

  • Bitcoin self-mining company Bitfarms has announced it has mined BTC 3,089 in the first 11 months of 2021, of which 339 were mined during November 2021. The company has also reiterated its goals to grow its hashrate to 3 EH/s in first quarter 2022 and 8 EH/s by year end 2022 from the current 2.1 EH/s as of November 25, 2021.
  • Bitcoin mining company Greenidge Generation Holdings (GREE) plans to sell USD 35m in senior notes, due in October 2026, according to a new filing.
    The new notes will bear 8.5% interest accruing from October 13, and are a “further issuance” to Greenidge’s USD 55.2m raise.

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IDEX v3 Hybrid Liquidity combines an order book and automated market maker (AMM) liquidity pools to protect users from AMM pitfalls by instantly executing trades against the best combination of limit orders and pooled liquidity.

DeFi news

  • DAO incubator New Order has announced it is partnering with Web 3.0 accelerator Base Camp, whose parent company is Outlier Ventures, to launch between 30-40 new decentralized finance (DeFi) projects over the next two years. While the main goal is to drive more DeFi, New Order and Outlier Ventures also plan to explore “MetaFi”, a term coined by Outlier Ventures, which stands for DeFi applied to the metaverse.
  • DeFi incubator Dispersion has announced the launch of its platform AQRU, which enables access to the crypto yields available in DeFi.

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fund “Fidelity Advantage Bitcoin ETF” is currently pending listing on a Canadian exchange, according to a tweet shared by Bloomberg senior ETF analyst Erick Balchunas.

  • South Korean bank SoftBank Group Corp is investing USD 150m in South Korean metaverse platform Zepetto that sells high-fashion items for 3D avatars, according to the Wall Street Journal. The platform has around 2m users every day, where people scan a photo and build digital likenesses of themselves, then hang out in virtual worlds.
  • Crypto firm CoinSharesannounced it has agreed to acquire the French fintech firm Napoleon Crypto SAS and its subsidiaries for almost EUR 14m (USD 16m).
  • Bitcoin investment firm NYDIG raised USD 50m for its seventh fund to invest in cryptocurrencies, the firm said in a regulatory filing.
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    Among them are newly announced adopters Hololoot and VRJam, which will complement the visual elements of the metaverse on Efinity, laying the foundation for a graphical creator economy.

    Exchanges news

    • Thai crypto exchange Bitkub Online is planning to offer a range of digital currencies and services in more countries “to become the Coinbase of Southeast Asia,” per Bloomberg. The company is looking to expand to Malaysia, the Philippines, and Laos next year, having grown its local revenue more than 1,000% annually since it began operations in 2018.
    • Decentralized crypto exchange (DEX) IDEX has announced the launch of its v3 Hybrid Liquidity DEX on Polygon (MATIC).
  • Balancer v2 now allows users to create their own custom weighted Pools in four easy steps.
  • Kyber Network’s DMM relaunches as KyberSwap, with several new features.
  • Hashflow Network recently launched Public Pools, with a group of select LPs to contribute liquidity.
  • Balancer launches ‘Boosted Pools’ on Aave in a bid to improve DeFi yields.
  • The 1inch Network released v2 of the 1inch Limit Order Protocol, which introduces Gasless limit orders for ETH and other improvements.
  • Uniswap recently rolled out v2 of its Auto Router, along with several other features to improve swap pricing and optimize gas cost.
  • Uniswap v3 recently deployed on Polygon’s cost-effective L2 network.
  • What we’re reading

    Within DeFi, decentralization is not a guarantee, as SushiSwap’s recent flurry of corporate infighting illustrates.

    As of November 2021, 21Shares manages more than USD 2.9bn in 20 cryptocurrency ETPs and 81 listings.

  • Venture capital firm Borderless Capital has announced the launch of its USD 500m Borderless ALGO Fund II. This new fund will be investing in digital assets powering the next generation of decentralized applications on top of Algorand (ALGO), including opportunities to disrupt the creators economy with NFTs and accelerating the growth of the capital that participates in the ALGO DeFi ecosystem through liquidity mining, lending, borrowing and yield farming.
  • South Korean blockchain investment firm Hashed has announced the launch of a USD 200m fund called Hashed Venture Fund II.
  • 1inch

    Further

    Decentralized exchange (DEX) aggregator 1inch has completed a massive $175 series B funding round. The funding round was led by Amber Group with around 50 investors putting money into the project.

    Among the investors who contributed were Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, and Gemini Frontier Fund.

    While the initial intention of 1inch was to raise a mere $70 million, the final raise more than exceeded expectations. The additional funding will allow 1inch to implement an ambitious program of protocol improvements, expansion, and regulatory compliance.

    “Hell yeah, we nailed it,” said 1inch in the start of a Twitter thread on December 1st.

    1inch, a popular aggregator of decentralized protocols, has raised $175 million in what it calls a Series B funding round. It isn’t a traditional venture round as the company isn’t selling a stake in exchange for money. Instead, 1inch has sold $175 million worth of 1INCH tokens in a private token sales with institutional investors.

    If you’re not familiar with 1inch, it’s one of the most popular DeFi (decentralized finance) protocol out there as it makes decentralized transactions more efficient.
    If you want to exchange cryptocurrencies, there are multiple ways to do so.

    Historically, exchanges have been a centralized activity. Some hosted exchanges, such as Coinbase, FTX, Kraken and Binance, have thrived by managing trades between multiple assets.
    And yet, blockchains are supposed to be decentralized.

    NYDIG opened the fund on November 16th and a single investor contributed the full amount. It plans to leave the fund open indefinitely.

  • The decentralized exchange (DEX) aggregator 1inch Network has closed a USD 175m Series B round of funding, led by Hong Kong-based Amber Group, said the team.

    The round values the company at USD 2.25bn, Forbes reported. More than 50 investors participated in the round, conducted as a sale of 1INCH tokens, including Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, and Gemini Frontier Fund.

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