Blockchangers Blog

Weekly Wrap Up #52

Quote of the week: “Many Web2 companies are trying to figure out how metaverse fits into their business models. What does it mean to transfer the ownership of assets to users and to be more decentralized? Is it worth the risk associated with giving up control and ownership? There are legal considerations among others to think through before moving that direction.” –  Jason Fung, former Head of Gaming at TikTok. Source:

Celsius Files for Bankruptcy:  On July 13, cryptocurrency lending platform Celsius filed for Chapter 11 bankruptcy to allow for restructuring. The filing caused its token price to tank by more than 50%. Source:

International Regulation Featuring South Africa:  The deputy governor of the South African Reserve Bank confirmed that new legislation surrounding cryptocurrencies will be introduced in the next 12 months. South Africa’s reserve bank will classify cryptocurrencies as financial assets. Cryptocurrencies will be under the scope of the Financial Intelligence Centre Act and will be monitored for money laundering, tax evasion, and terrorism financing. Source:

Multicoin Capital Announces $430 Million Fund:  Despite the market turmoil, crypto venture capital giant Multicoin Capital is not putting on the brakes and announced its $430 million venture fund for crypto startups. The fund will provide capital for projects related to DAOs, open finance, and Web3 infrastructure, among other focuses. Source:

Lawsuit Filed Against Solana:  A class-action lawsuit against Solana was filed by a California resident and Solana investor this week. The plaintiff accused Solana of drawing illegal profits from its native token and promoting an unregistered security. Source:

Judge Orders Three Arrow’s US Assets Frozen:  On July 1, Three Arrows Capital filed for Chapter 15 bankruptcy. On July 12, in an emergency hearing, a U.S. district court judge ruled that Three Arrows Capital can no longer transfer or dispose of its U.S. assets, as court-appointed liquidators seek to appraise those assets. This ruling comes after liquidators accused the firm’s founders of not cooperating with legal proceedings. Source:

And, that’s a wrap!

Jordana Cohen,


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.