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Weekly Wrap Up #19

Quote of the week:

“I wouldn’t convince him [Warren Buffett] to invest in crypto. I think it’s not necessary that everybody has to invest in crypto… My mom doesn’t use the internet that much and that’s fine. The internet is fine. My mom is fine. So I basically think it’s a free world. We don’t have to convince everybody to use crypto, it’s only for the people that want to use crypto.” – Binance CEO & founder Changpeng Zhao 

Source:  https://finance.yahoo.com/news/binance-ceo-we-dont-need-to-convince-warren-buffett-to-invest-in-crypto-150442502.html

 

Alpha Sigma Capital Update:  In case you missed Enzo Villani, Founder CEO, Alpha Sigma Capital on DiffuseTap discussing Creative Crypto Investments via Multi-Strategy, listen to audio or access transcript here.

 

International Regulation: featuring India: The India government has proposed a new bill that plans to ban all private cryptocurrencies, with exceptions. As a result of this news, many panicked; on Indian exchanges, Bitcoin dropped by 17% and Ethereum fell by 15%. Sources:  https://finance.yahoo.com/news/indian-government-moves-ban-private-104315523.html

https://finance.yahoo.com/news/crypto-traders-panic-india-vague-134551098.html

 

The DAO fails to put a 1st edition print copy of the U.S. Constitution “in the hands of The People”: The online group, ConstitutionDAO failed in its bid to buy the last privately-owned, 1st edition copy of the United States Constitution at Sotheby’s public auction. Instead, the bid was won by an unknown participant for $43.2 million, after auction fees. Source:  https://cointelegraph.com/news/breaking-constitutiondao-fails-to-win-sotheby-s-auction

 

Mass Adoption of the Metaverse Featuring Nike:  Nike has been filing patents to do business in the Metaverse since 2018, which was considered pre-Metaverse time. Nike intends to sell its digital products in the Metaverse and perform digital branding within the Metaverse as well. Nike is very serious about the opportunities the Metaverse offers. Source: https://cointelegraph.com/news/just-buy-it-nike-wants-to-bring-sneakerheads-into-the-metaverse

 

El Salvador Update:  El Salvador is in negotiations with the IMF for one of its loans worth $1.3 billion. This week, El Salvador introduced a $1billion “Bitcoin Bond” that could present a partial end-run around the IMF. The “Bitcoin Bond,” in partnership with Blockstream, which is a digital assets infrastructure company, will help to fund a “Bitcoin City” near a volcano that will be funded by the cryptocurrency. Half of the funds from the “Bitcoin Bond” will be used to buy Bitcoin, while the other $500 million will go toward energy and Bitcoin mining infrastructure. Source: 

https://www.cnbc.com/2021/11/22/el-salvador-plans-bitcoin-city-raise-1-billion-via-bitcoin-bond.html

 

Biden’s Pick as Fed Chair, Jerome Powell:  This week, United States president, Joe Biden, selected Jerome Powell to serve another four years as the U.S. Federal Reserve Chair. Although there is overall uncertainty about how the cryptocurrency market will fare, many cryptocurrency investors remain bullish. If Powell is slow to raise interest rates, investors will likely remain enthusiastic. Source: 

https://www.bloomberg.com/news/articles/2021-11-22/what-jerome-powell-as-fed-chair-means-for-stocks-crypto-housing-inflation

 
And, that’s a wrap!
 

Jordana Cohen,

Associate

Alpha Sigma Capital

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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.