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Weekly Wrap Up #41

Quote of the week: “As more people pursue and appreciate NFT products, I think it is important we share more in this area, from digital collections and blockchain games to NFT+ to derivatives…There are definitely many opportunities waiting to be discovered in the future.” – Linhan Dong, Researcher, Huobi Research Institute

Elon Musk Buys Twitter for $44 Billion, Crypto Industry Reacts: Following Musk’s bid to buy Twitter, the crypto market reacted. Dogecoin increased more than 17% on Monday, April 25. The Dogecoin community is hoping that Musk will boost its usage after acquiring Twitter. Furthermore, Bitcoin saw a rally after Musk’s bid was released. As news of Twitter’s sale spread, Bitcoin rallied almost 5.72%.  Sources: https://www.marketwatch.com/story/dogecoin-jumps-17-outperforms-bitcoin-as-supporters-count-on-musk-to-make-twitter-more-doge-friendly-11650910168?siteid=yhoof2

https://cointelegraph.com/news/bitcoin-hits-40k-investors-pump-dogecoin-doge-after-musk-confirms-twitter-purchase

Central African Republic Names Bitcoin a Legal Tender:  This week, the Central African Republic became the second country in the world to adopt Bitcoin as a legal tender. The president of the country officially announced the news on April 27 and believes that this strategic move will open new opportunities for the country and its people. Source: https://www.fxempire.com/news/article/central-african-republic-adopts-bitcoin-as-an-official-currency-981995

Fidelity to Offer Bitcoin in Its 401(k) Plans:  Fidelity Investments announced this week that it will allow individuals to allocate a portion of their retirement savings in Bitcoin through their 401(k) investment plans. 401(k) retirement savers will be allowed to allocate up to 20% of their portfolios to Bitcoin, subject to employer approval.  Fidelity is the first major retirement plan provider to offer this type of investment. Source:  https://www.coindesk.com/business/2022/04/26/fidelity-investments-will-offer-bitcoin-inclusion-in-its-401k-accounts-reports/

World’s First ETP Betting on Gold and Bitcoin Has Arrived:  The world’s first-ever exchange-traded product that combines gold and Bitcoin has launched in Europe this week. The ETP is set up to rebalance both exposures monthly in inverse, proportional to their risk to manage volatility and increase returns as a result. Source: https://finance.yahoo.com/news/world-first-etp-betting-both-070000975.html

Fort Worth Becomes First in Country to Mine Bitcoin in Pilot Program:  Fort Worth, one of the largest cities in Texas, just approved a project, as part of a larger docket of crypto-friendly initiatives, to start mining Bitcoin via a new pilot program. The city has partnered with the Texas Blockchain council for the program. Source:

https://finance.yahoo.com/news/fort-worth-texas-city-mine-bitcoin-185043937.html

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.