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Weekly Wrap Up #42

Quote of the week:  “Not all of it [Bitcoin] is bad. If you said to me ‘I want to send $200 to a friend in a foreign country,’ that could take you two weeks and cost you $40. You could do it through a digital currency and it’ll take you seconds.” – Jamie Dimon, JPMorgan CEO. Source:  https://cointelegraph.com/news/buffett-back-bashing-bitcoin-claims-it-doesn-t-produce-anything

Goldman Sachs Gives Coinbase the First Bitcoin-Backed Loan:  Coinbase, the largest U.S. exchange, took out a loan this week from Goldman Sachs collateralized in Bitcoin. This may pave the way for more of these types of loans, deepening ties between cryptocurrency and traditional finance. Source: https://cointelegraph.com/news/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs

Gucci Will Be Accepting Cryptocurrency Payments in Store:  This week, Gucci announced that it will be accepting cryptocurrencies, including Bitcoin, in some of its United States stores later this month. The company has plans for a wider rollout in the future. Source:  https://www.fxempire.com/news/article/gucci-jumps-on-the-crypto-bandwagon-with-u-s-project-990449

Binance Backs Elon Musk’s Twitter Buyout:  According to data filed with the U.S. Securities and Exchange Commission, Binance committed to co-investing in Twitter with Elon Musk. Binance is one of 18 co-investors in the acquisition and is investing $500 million. Source:  https://finance.yahoo.com/m/c66570a4-6338-3911-ab2b-5ed4da452974/world%E2%80%99s-biggest-crypto.html

Legislation Update Featuring California: The California Governor, Gavin Newsom, has signed an executive order to prompt Web3, cryptocurrency, and blockchain adoption. California is the first state in the United States to create a comprehensive framework for ‘responsible Web3 technology to thrive.’ California hopes to be “ahead of the curve,” according to the Governor. Source: https://www.fxempire.com/news/article/california-governor-signs-executive-order-to-prompt-crypto-adoption-990465

Algorand is Now the First U.S. Blockchain Sponsor of the FIFA World Cup:  Blockchain network Algorand partnered with FIFA, becoming the soccer association’s first official blockchain platform. Algorand will help FIFA develop a digital asset strategy and official wallet solution, among other things. Source: https://cointelegraph.com/news/algorand-becomes-first-us-blockchain-sponsor-of-fifa-world-cup

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.