As with last week, we have seen a slight slowdown in the mega-deals for the prior week in digital wealth deals
FTX, a digital assets derivatives exchange, just became the first cryptocurrency exchange to sponsor a professional sports arena in the United States.
With bitcoin and crypto in general continuing its pricing uptrend - so, too, is investment within the crypto and blockchain sectors - with 3 of this week's top 5 fintech VC deals falling under those two categories.
A lot of people are beginning to use a Bitcoin ATM and those devices are popping up at more and more locations at very rapid pace.
IN A TRULY ASTONISHING MOMENT FOR FINTECH VC, this week we saw NINE VC deals in the digital wealth sector in excess of $100M.
While crypto art has been around in various forms since 2015, the medium made a huge splash last week at Christie’s in New York as “Everydays: The First 5,000 Days” by Beeple sold for $60.25 million at auction, which cost the buyer $69 million when Christie’s buyer’s premium is included. That makes “Everydays” as the most valuable piece of digital art to be sold at auction thus far.
We're back this week with FIVE $100M+ VC deals, and the top one - BlockFi - at $350M
Just last week the rock band Kings of Leon released their latest album in the form of a NFT, becoming the first band to ever do so.
Over the past decade, fintech has been shaped to a fair extent by two dueling forces: On the one hand, are those who believe the future is in the hands of DIY investors, empowered by advancements in robo-advice (think Betterment), online self-directed trading (think Robinhood), as well as consumer-facing financial planning tools like Personal Capital or Quicken.
Insurance and crypto. Those categories were the two big winners this past week in fintech-focused venture capital with deals ranging from $80M-$100M.