Crypto Market Highlights January 21, 2022

Prada & Adidas launch NFT on Polygon, Man Group’s $140B crypto fund and more crypto market highlights rallied over the past 24 hours.

Crypto Market

Crypto Market Highlights: NFTs News

Italian luxury fashion house Prada and sportswear giant Adidas have teamed up to launch a new non-fungible token (NFT) project built on top of the Polygon (MATIC) network. The project aims to bring fashion, design and crypto participants together to co-create large scale digital artworks inspired by a physical re-nylon collection. They add that they are collaborating with digital artist Zach Lieberman. Proceeds from the sale of the NFT will be donated to charity and distributed to artists and creators in the community.

According to DesignBoom, a physics museum dedicated to NFT will open in Seattle on January 27th. The gallery features a range of artworks ranging from the Larva Labs Cryptopunks series to Blake Kathryn and H+ Creative, among others.

Cryptocurrency exchange Bybit has announced that it will launch the NFT market on January 20th.

Crypto Market Highlights: Investment News

  • Investment firm Man Group, which has nearly $140 billion in assets under management, is considering setting up a crypto fund for its clients, CEO Luke Ellis said during Bloomberg’s The Year Ahead event. He added that he sees an “exciting opportunity” to use his risk management skills and technology to provide some sort of risk-controlled version of cryptocurrencies to his clients.
  • Security protocol Secret Network has raised $400 million in ecosystem funding. These include a $225 million ecosystem fund and another $175 million accelerator group, the former targeting scaling of their application layer while the latter targeting user adoption.
  • Firm platform Stader Labs announced it has completed a $12.5 million private sale led by Three Arrows Capital, valuing the company at $450 million.
  • Digital asset trading technology company BlockFills has raised $37 million in a Series A round to fuel its expansion plan.
  • Shakepay, a company that enables Canadians to buy, sell and earn bitcoin (BTC), has announced a CA$44 million (US$35.3 million) Series A investment led by QED -Investors is directed. The capital will be used to scale the business and launch new products.
  • Blockchain network raised $10 million in a recent funding round led by Stratos Technologies. They added that January marks the start of the deployment of their first compute resource nodes, which will eventually carry most of the processing power of the decentralized network.
  • Web 3 Autograph brand has announced a $170 million Series B funding round co-led by a16z and Kleiner Perkins. The company has also appointed new board members, including Katie Haun, who runs her own company, Arianna Simpson, general partner at a16z, and Ilya Fushman, partner at Kleiner Perkins.

Crypto Market Highlights: Banking News

According to Bloomberg, CEO of US bank BNY Mellon, Emily Portney, digital assets could generate a significant revenue stream for financial institutions starting next year. She also said global space watchdogs should be aware of what could be a stepping stone for her bank.

Moroccan bank operator Attijariwafa Bank has joined RippleNet, the US-based fintech’s Ripple payments network, local provider Boursenews reported. Bank members will be able to exchange transactions from a range of destinations around the world, she added.

Crypto Market Highlights: Regulatory News

According to Bloomberg, cryptocurrency exchanges are seen as the main focus of the US Securities and Exchange Commission (SEC) crackdown on digital assets in 2022. According to SEC Chairman Gary Gensler, SEC Chairman Gary Gensler added.

Cryptocurrency exchange Zonda has announced that it has received regulatory approval to operate in Canada.

Crypto Market Highlights: News on new products and services

New York City Mayor Eric Adams said his first salary, coming this Friday, will be converted into Ethereum (ETH) and BTC, Bloomberg reports. The funds are converted through the cryptocurrency exchange Coinbase.

Crypto Market Highlights: CBDCs News

Bank of England Governor Andrew Bailey has accused the Westminster Committee of rejecting key arguments in favor of launching Britcoin, a digital version of the British pound backed by the UK central bank, according to City AM. Bailey said the Bank of England should consider issuing its own digital currency to prevent commercial entities looking to issue private digital currencies in the form of stablecoins from taking over the monetary function of the central bank.

Crypto Market Highlights: Legal News

Kavita Gupta, a former director of Ethereum-focused blockchain firm ConsenSys, has accused her former employer of harassing her and creating a toxic work environment, particularly for women. She claims the company mistreated her and tried not to compensate her for investments that cost ConsenSys more than $300 million. Meanwhile, ConsenSys has reportedly filed a lawsuit against Gupta for continued fraud.

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