Crypto Deal Flow: July 30
We have three deals today. Please note that they are all institutional. Everybody shouted “where are the institutions?” in 2018, but the process is very slow. And now it starts to gain momentum in developed countries.
- Circle and Genesis | $25m | Digital Currency Group | strategic investment
Circle and Genesis will develop yield and lending services based on USDC, for this direction Digital Currency Group has invested 25 million dollars. We expect new DeFi products using USDC to emerge as a result, including the institutional level, as Genesis works with such clients.
2. Delphi Ventures | new fund
Delphi Digital Analytical Service opens Delphi Ventures fund, which will invest in the most promising digital projects at an early stage. Delphi Digital specializes in quality reporting on the institutional level cryptocurrency industry.
3. Diginex and Equos.io| reverse merge
Newly launched derivatives platform EQUOS.io is set to become the United States’ first publicly-traded crypto exchange later this year through a “backdoor listing” on the Nasdaq. Its operator, Hong Kong-based Diginex, announced Thursday it is combining EQUOS.io with Singapore’s 8i Enterprises Acquisition Corp — a special-purpose acquisition company (SPAC) listed on the Nasdaq.