May 2022 Crypto Industry Updates

Content will be sorted chronologically with latest at the bottom.

• Warren Buffett-Backed Digital Bank Nubank Buys Bitcoin, Adds Trading In App
  • Nubank is the largest Brazilian digital bank
  • now enables its customers to purchase bitcoin in its mobile app.
  • Nubank will also allocate 1% of its portfolio to bitcoin to “strengthen the company’s conviction” in the potential of bitcoin
• Singapore courts blocked a Bored Ape NFT from sale
  • sets precedent for protecting the digital assets as legal property
• Andreessen Horowitz raises largest-ever crypto fund. [25 May 2022]
  • The venture capital firm unveiled a US$ 4.5 billion fund, the largest ever for the technology.
  • plans to invest heavily in the downturn
  • marks Andreessen’s fourth fund for the asset class and brings its total raised for crypto and blockchain investments to $7.6 billion.
• The Monetary Authority of Singapore is partnering with JPMorgan Chase to lead a pilot program exploring DeFi’s potential
  • part of the Monetary Authority of Singapore’s (MAS) Project Guardian initiative
  • Project Guardian aims to gauge whether DeFi (decentralized finance) applications running on public blockchains, including Ethereum, can improve wholesale borrowing and lending processes without introducing additional, undue risk.
  • The first step: tokenizing bonds and deposits, with smart contracts powering trade executions.
  • DBS and Marketnode to co-lead the program.