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Weekly Wrap Up #3

Quote of the week: “I have no doubt it’ll [Bitcoin] go up, it’ll go down over the long term — I still think it’s a lower left to upper right trend and I think we’re going to see that play out over five years.” – Thomas Farley, former COO of the New York Stock Exchange

Top Headlines

Bitcoin Opinion: Brandon Arvanaghi, a former crypto exchange engineer at Gemini, said that China’s crackdown on crypto and ban on Bitcoin mining is “fantastic news.” The past engineer compared China’s ruling on crypto to the country’s ban of Facebook and Google. The engineer said that the ban creates a rite of passage for crypto. Arvanaghi also added that China’s stance means that Bitcoin is working, not failing; “It’s making nations shiver in their boots.” Countries are taking a side and with China’s response, it is actually “incredibly bullish” for Bitcoin in the medium and long terms.

Source: https://cointelegraph.com/news/china-s-crackdown-means-bitcoin-is-working-says-crypto-miner

Venture capital: PayPal confirmed that it has invested as an LP in Blockchain Capital, a fund focused on blockchain and digital assets with over $1.5billion under management. It was the first time the company has invested as an LP with a crypto VC firm.

Source: https://www.coindesk.com/visa-paypal-join-crypto-vc-blockchain-capitals-new-300m-fund

Environmental: On Thursday, June 24, Gemini, a major cryptocurrency exchange founded by Cameron and Tyler Winklevoss, made the initiative to partner with nonprofit Climate Vault in an effort to respond to Bitcoin’s environmental issues. The crypto exchange vowed to incorporate climate-conscious measures into its business by purchasing carbon credits directly from government-related cap-and-trade markets and removing them from circulation. In essence, this cuts the overall supply of carbon credits.

Source: https://cointelegraph.com/news/winklevoss-gemini-buys-carbon-credits-to-cut-bitcoin-s-co2-footprint

Next Rising Crypto Hub? New York wants to be in the race! Eric Adams has taken first place in New York City’s mayoral race against Andrew Yang. Adams has made a pledge to Bitcoin and vows to make New York City a crypto and tech hub. He says, “I’m going to promise you: In one year — one year — you’re going to see a different city. […] We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of Bitcoins. We’re going to be the center of all the technology.”

Source: https://cointelegraph.com/news/nyc-s-mayoral-frontrunner-pledges-to-turn-city-into-bitcoin-hub

Bitcoin News: After a very volatile week, Bitcoin had returned above the $30,000 mark on Wednesday, June 24. Many investors are hesitant, while others have taken the price drops as an opportunity to buy. Andreesen Horowitz is one of them; after the Bitcoin price crash, the firm decided to launch a $2.2 billion crypto-focused venture fund. Andreessen General Partners stated, “The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives.” Sources: https://www.cnn.com/2021/06/23/investing/bitcoin-price-intl-hnk/index.html

https://www.bloomberg.com/news/articles/2021-06-24/andreessen-launches-2-2-billion-crypto-fund-after-bitcoin-crash?srnd=cryptocurrencies

https://cointelegraph.com/news/1-3m-worth-of-btc-donated-to-bitcoin-hodling-charity-in-less-than-3-weeks

Jordana Cohen,

Associate

Alpha Sigma Capital

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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.