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Weekly Wrap Up #4

Quote of the week:

“Bitcoin will go all the way to $160,000 this year” – Alex Mashinsky

Dogecoin: The “joke crypto” Dogecoin has many updates coming that has the potential to turn it into a utility coin. After a large amount of capitalization and Elon Musk backing is helping to advance changes to the Dogecoin blockchain. Dogecoin developer, Patrick Lodder, states some potential changes to the coin, including “[a reduction of] average fees 100x for standard transactions on the Dogecoin chain, [a] split full control over all aspects of fees between miners and node operators, [a reliance] less on core development, and [the potential to] bring back a functional (small) free transaction space that incentivizes keeping the network healthy.”

Source: https://cointelegraph.com/news/elon-musk-tweets-his-support-over-proposed-dogecoin-changes

International Regulation: Germany passed the Fund Location Act on July 1 that allows special funds to invest as much as 20% of their portfolios into cryptocurrency. If these special funds proceeded with investing the 20%, that would equate to approximately a $415 billion investment in cryptocurrency.

Source: https://www.coindesk.com/german-law-allowing-415b-investment-into-crypto-takes-effect

Crypto Exchange News: On July 1, Robinhood filed an application with the United States SEC for an IPO. Despite facing $70 million in fines from The U.S. Financial Industry Regulatory Authority Robinhood still intends to obtain an IPO for its Class A common stock.

Source: https://cointelegraph.com/news/facing-70m-in-fines-from-regulators-robinhood-files-for-ipo

Mass Adoption Efforts Continue: In a blog post, CEO of Coinbase, Brian Armstrong stated that Coinbase is preparing to launch an Apple-like crypto app store. Mr. Armstrong said, “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”

Source: https://news.bitcoin.com/coinbase-launch-apple-like-crypto-app-store/

Bitcoin Update: As of July 1, Bitcoin has dropped 5.17% to $33,226.36, which is down 48.8% from the year’s high of $64, 895.22 on April 14, 2021.

Sources:

https://www.usnews.com/news/technology/articles/2021-07-01/bitcoin-drops-over-5-to-33-22636

https://finance.yahoo.com/quote/BTC-USD/

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.