News linked to both this project and an event.
Odaily News Analysts believe that SpaceX's upcoming IPO could become a new source of short-term pressure for Bitcoin and the crypto market. As the company is reportedly set to open up to 30% of its IPO shares to retail investors, some investors may sell high-risk assets like Bitcoin and Ethereum to free up capital to participate in this high-profile offering.SpaceX plans to issue shares at $135 each, aiming to raise $75 billion, with a valuation of approximately $1.77 trillion. A GSR trading executive noted that crypto assets could become one of the funding sources for some investors looking to raise capital for the IPO.Recently, there have been views suggesting that hot IPOs like SpaceX, and potentially future ones such as OpenAI and Anthropic, could drive capital outflows from the crypto market, putting pressure on Bitcoin and Ethereum prices.However, SpaceX's listing could also conversely boost on-chain trading activity. Currently, platforms like Hyperliquid and Binance already offer SpaceX-related perpetual contracts and tokenized stock products, and trading activity for these assets may increase further with the IPO.
SC Ventures, the venture capital arm of Standard Chartered, has invested in GSR, a crypto trading and market-making firm, valuing it at over $1 billion in this round. Founded in 2013 by former Goldman Sachs traders, GSR is currently in talks with strategic investors for further financing, potentially raising up to $150 million to expand its business operations.This investment marks SC Ventures' first time becoming an external shareholder of GSR. The two parties plan to collaborate on integrating traditional finance with the crypto market and enhancing the accessibility of tokenized products. GSR's business encompasses crypto trading, market making, advisory services, asset management, and venture capital. (Bloomberg)
Odaily reports: 3F, a vault protocol built on the decentralized lending protocol Morpho, has completed a total of $4 million in funding. The round was led by Maven 11, with participation from F-Prime, GSR, Gate Ventures, and other institutions. The company did not disclose its specific valuation.Built on top of Morpho, 3F aims to provide users with leveraged exposure to RWAs through a "one-click" operation. Users simply select their target asset and desired leverage multiple, and the protocol automatically executes the entire position-building process: purchasing the underlying asset via short-term bridge financing, depositing it as collateral on Morpho, and borrowing stablecoins to repay the financing.Essentially, this mechanism simplifies the traditional "looping" process in DeFi, which involves repeatedly buying assets, depositing them as collateral, borrowing, and reinvesting. While this process can be executed efficiently via flash loans in purely crypto-native assets, it is typically more complex and less efficient in the RWA context due to issues like settlement delays.3F is expected to officially launch in the second quarter of this year.