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Weekly Wrap up #60

Quote of the week: “I consider this [the Ethereum merge] the most significant catalyst in crypto history in terms of its magnitude and the fact that ETH is the second largest crypto” – Travis Kling, Chief Investment Officer at Ikigai. Source:

https://www.forbes.com/sites/ninabambysheva/2022/09/06/first-phase-of-ethereum-merge-biggest-thing-in-crypto-since-bitcoin-goes-live/?sh=33579c7f17db

Alpha Sigma Capital Research: The United States macro economy continues to face abnormal conditions with high inflation, low unemployment, and rising interest rates. Despite persistent supply problems from China and the Russia–Ukraine war, the market shows some signs of slower inflation. Read our latest Macroeconomic Brief here.

GameStop Partners with FTX:  This week, GameStop announced that it has partnered with the cryptocurrency marketplace FTX. The company made the decision to create the partnership in an effort to increase its presence in the cryptocurrency space.  Source: https://finance.yahoo.com/news/gamestop-second-quarter-sales-down-204017606.html

Cryptocurrency Regulatory Advice Released by SEC:  Gary Gensler, chairperson of the U.S. Securities and Exchange Commission, stated that companies that help facilitate transactions in the cryptocurrency market should register with the SEC, just like other market intermediaries. Mr. Gensler added, “if you fall into any of these buckets, come in, talk to us, and register…. The commingling of the various functions within crypto intermediaries creates inherent conflicts of interest and risks for investors.”

Source: https://www.fxempire.com/news/article/crypto-intermediaries-should-register-with-u-s-sec-agency-chair-says-1120719

Voyager Digital Update: Cryptocurrency lender Voyager is set to liquidate its assets via auction on September 13, 2022, as it moves through the Chapter 11 bankruptcy process. The results of the auction will become final during a court hearing approving the results on September 29. The identity of bidders has not been fully revealed, but there are indications that exchanges FTX and Binance have interests in the assets.

Source: https://www.coindesk.com/business/2022/09/07/crypto-lender-voyager-to-auction-off-assets-on-sept-13/

NBA to Develop NFT-based Fantasy Game:  This week, the National Basketball Association announced its decision to develop a digital collectibles-based or NFT-based fantasy basketball game with Sorare. The NBA established a multi-year partnership with Sorare, which is a European NFT platform with over 2 million registered users. The game is planned to be released in time for the 2022-2023 season in October. Source: https://finance.yahoo.com/news/nba-develop-nft-based-fantasy-145235656.html

International Regulation Featuring Russia:  Despite Russia still being opposed to legalizing cryptocurrency payments within the country, the country was given the green light to cryptocurrency cross-border payments due to geopolitical changes. The Bank of Russia admitted that cross-border payments in cryptocurrency are inevitable, given the current geopolitical landscape. Source: https://cointelegraph.com/news/bank-of-russia-agrees-to-legalize-crypto-for-cross-border-payments-report

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.