THIS NEWSLETTER IS SPONSORED BY |  |  | Why the largest crypto trading firms are becoming venture capitalists as well | Quick Takes - Major crypto trading firms are expanding beyond their core capacities and more broadly into the industry.
- GSR, Wintermute, and Jump Capital have been investing in early-stage crypto startups and projects.
| The line that separates crypto's venture capital investing world from the shadowy cadre of high-speed token traders is blurring.
As private capital continues to move into the $2 trillion market, so-called market-making firms are expanding outside of their bread and butter trading activities and are ramping up their own participation in early-stage equity or token deals.
Typically, crypto trading firms move quickly in and out of tokens, taking on risk only shortly, either on a proprietary basis or to provide liquidity to an exchange venue.
Now some of them are becoming early-stage venture investors too. Data compiled by The Block shows that firms including GSR and Wintermute saw their deal activity surge during the third quarter of this year, with these two firms participating in more than 30 funding rounds. Jump Capital, a venture firm affiliated with Jump Trading, made more than 10 investments during that same time. | | |  | Warsaw-based crypto startup Ramp hits $300 million valuation in Series A raise: sources | Warsaw-based crypto startup Ramp has closed a $30 million Series A fundraise led by British venture capital firm Balderton Capital, according to three people close to the deal. The crypto on-ramp specialist, which styles itself as the "PayPal for crypto," is now valued by investors at $300 million. Ramp and Balderton were contacted for comment but did not respond by press time. | Hong Kong explores technical aspects of a retail CBDC | The Hong Kong Monetary Authority started looking at a potential retail central bank digital currency (CBDC) in June of this year. It has now published a technical whitepaper exploring possible architectures and design options that could be applied to the CBDC if it issued one. | International authorities arrest ransomware gang members in Ukraine | On October 4, Europol announced the arrest of two ransomware operators in Ukraine, part of a crackdown on a larger organized cybercrime group that targeted industrial groups in North America and the EU. The ransomware operators were not named, nor was the operating group or strain of ransomware they deployed. The only specifics were that they charged victims between €5 and €70 million to decrypt affected files. | | | THIS NEWSLETTER IS BROUGHT TO YOU BY | You may be wondering:
Why are fellow digital asset trading pros choosing to run their operations on Fireblocks?
How can Fireblocks streamline my operations?
Should I be on Fireblocks too?
Let us show you. | | | Record high transaction fees have plagued the Ethereum blockchain since May of this year, The Block's data dashboard shows. | | | What's Next in Crypto and Payments | rypto has become both a cultural and technological phenomenon—with a flurry of game-changing innovations (such as stablecoins and DeFi), surging digital currency values, and even professional athletes getting paid in Bitcoin.
If your head is spinning from the seemingly endless barrage of crypto headlines, you're not alone. That's why we put together a webinar to help you cut through the noise and discover what's truly worth knowing about where crypto is heading.
Panelists: Lily Glazer, Blockchain/NFT Strategist, Manchester United
Michael McCaffrey, CEO, The Block
Sina Nader, COO, FTX US
AJ Shanley, Global Head of Crypto Solutions, Visa | | | Data monetisation solution, Swash, brings power to the people by reimagining data ownership | Swash is pioneering a new way of doing data by bringing control and data monetisation to the masses through what can be understood as a Universal Data Income. | | | You are receiving this e-mail because you are subscribed to The Block's free newsletter. If someone shared this newsletter with you, you can easily subscribe to receive it in your inbox here. If you're looking for even more content, we have a separate newsletter for The Block Research, which you can sign-up for here. | | | | |
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