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Weekly Wrap Up #11

Quote of the week:

“September has been a spectacular month for crypto thus far…” – Trader at Rekt Capital.

Ether Update: On August 31, Ethereum burned 12,000 coins, which is the most in a single day since the EIP 1559 activation on August 5. The coin is trading above $3,500 for the first time since mid-May. This increase in price is likely attributed to the NFT (Non-Fungible Token) hype, which primarily happens on Ethereum.

Sources:

https://www.coindesk.com/markets/2021/09/01/ether-tops-35k-after-record-daily-coin-burn-bitcoins-rangeplay-continues/

https://coinmarketcap.com/currencies/ethereum/

Corporate NFT Mass Adoption: Major brands like Visa and Budweiser have adopted their own NFTs in recent weeks. In this “FOMO-driven frenzy,” corporate brands are quickly entering the NFT space. In an interview between Cointelegraph and Jesse Johnson, founder, and chief operating officer of Aavegotchi creator Pixelcraft Studios, Mr. Johnson states, “the market is going to increasingly see brands, organizations, and businesses embrace NFTs over the coming months and years. It will start as a new way to connect with customers but eventually evolve entire industries.”

Source: https://cointelegraph.com/news/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket

Rising Crypto and Blockchain Hubs: Many running for the mayor position of New York City have pledged their support for cryptocurrency in an effort to make New York City a major crypto and blockchain hub. In July, Eric Adams won the Democratic primary. Adams stated that he would make New York City the “center of Bitcoins.” Curtis Sliwa, a Republican running to be the mayor of New York City, recently said that one of the goals of his campaign is cryptocurrency and to make NYC the “most cryptocurrency-friendly city in the nation.” He plans to create greater financial inclusivity in NYC through opening more crypto ATMs and putting forth incentives for businesses to accept cryptocurrency.

Source: https://cointelegraph.com/news/mayoral-candidate-pledges-to-make-nyc-most-cryptocurrency-friendly-city-in-the-nation

International Regulation: El Salvador: On August 31, El Salvador’s Congress approved a law, 64 votes in favor and 14 votes against, to back a $150 million fund for Bitcoin to facilitate conversions from Bitcoin to United States dollars ahead of adoption. The country’s adoption of cryptocurrency as a legal tender is planned for next week, September 7. Source: https://finance.yahoo.com/news/el-salvador-congress-backs-150-190321006.html

Solana Market Update: On August 31, Solana soared approximately 30% to a high of $130.01. This jump in price amounts to a 67% seven-day gain. This explosive rally and high is attributed to investor enthusiasm around Solana’s smart contracts for dapps and NFTs.

Source:

https://www.forbes.com/sites/jonathanponciano/2021/08/31/solana-skyrockets-to-new-high-above-130-amassing-nearly-40-billion-in-market-value-as-competition-with-ethereum-heats-up/?sh=4b3e548d4353

Happy Labor Day! And, that’s a wrap!

Jordana Cohen,

Associate

Alpha Sigma Capital

jcohen@alphasigmafund.com

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Alpha Sigma Capital
Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.


Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.