Quanterium, Crypto derivative job, Diar, Archax, Bitstamp, Guesser and Veil. Ramp etc...
|Jul 14||Public post|| 2|
This is the #12 issue of my European crypto newsletter aiming to give updates on corporates, startups and regulation in 🇪🇺
Everyone is talking about San Francisco as the epicentre of everything in crypto. Well, I wanted to shed lights on Europe and show how exciting the ecosystem is.
Note, if you are looking to hire, share news or want to sponsor a newsletter please email me at email@example.com - we are 1,000+ and growing.
Etienne (Twitter, firstname.lastname@example.org)
PS: Are there any of my readers based in NYC, SF, Berlin or Amsterdam? if so contact me.✋
PPS: Ask your friend to sign up. Brownie points for you!
🙈Who’s behind this?
This section aims to give the opportunity to introduce some of the best 🇪🇺 founders. Most people loves their products but don’t know who are the founders behind them. Hello World.
Hi Danny & Rami, we met end of 2018 just when you were about to close your pre-seed round. Since then you have built an impressive team building crypto infrastructure for institutional investors. Only few people know who is behind your company, Can you share a bit about your background? Who are the founders behind it?
It certainly feels like we met a lifetime ago Etienne, can’t believe it’s only been 9 months!
We met in 2017 whilst at JP Morgan. Rami was working in Tech and Danny in Prime Brokerage. We instantly clicked, having a lot in common. Both of us started our careers at JP Morgan, graduated from Imperial College and also coincidentally come from the same region (Danny is Lebanese and Rami is Syrian).
When we closed our first investment round, we quickly made a fantastic addition to the founding team, Karim, who also graduated from Imperial College and worked at Adobe who now heads our engineering team.
How did you get into the bitcoin and blockchain industry?
In 2016, I (Danny) had to send money abroad to a friend. I was increasingly frustrated with Transferwise, as it took several days to send money and the fees (in my opinion) were unjustifiably high. I had heard of Bitcoin and thought I’d see what the big fuss was about.
That resulted in me sending my first BTC transaction, and my mind was just blown…the fact I was able to send “value” halfway across the world to my friend in an instant, with virtually no fees and no centralised party orchestrating any of it just left me in awe.
Fast forward to 2017: Rami and I at this point had both developed a deep conviction that Blockchain technology was primed to change the way the financial system worked and we both wanted to be a part of the change.
💵 Job of the week
One of the top new crypto derivative exchange based in London backed by top funds and also alumni of a small SV- based incubator called YC is looking to hire a marketing + community builder.
The team is one of the best I have met. This is a great opportunity for a non-engineer to break intro crypto. If you want to apply just email me :)
Overview of the role
● Build a retail trading community of 100k - 100m customers across Asia and Europe
● Build $100m+ daily trading volume by signing up our existing investors and leading OTC desks, crypto quant funds, sovereign wealth funds, etc. for accounts
● Assist in building the world’s deepest crypto markets by adding traditional and crypto market makers to our liquidity provision programme
● Operate social media presence
● Obtain flow (affiliate) deals with crypto exchanges, asset providers, etc.
🐦 Tweet of the week
Fadi (founder of Diar) was the first to accept to be interviewed in my newsletter. He has also become a friend and is one of the most savvy crypto researcher I know. He is starting a new chapter. If you are looking for a data-driven researcher, he’s simply the best. Email him at email@example.com - Good luck!
London-based cryptocurrency exchange Archax said that it would be launching its own custodial service for digital assets in partnership with Unbound Tech, a cryptography firm that is backed by several notable investors, including Goldman Sachs and Citi Ventures [Source]
Veil, the crypto-focused prediction market and derivatives platform, is closing its doors. Launched in January, the Veil web interface allowed users to place bets on Augur prediction markets, offering an instant settlement API to pay out on clear outcomes. The team mentioned that the prediction user market is too small at the moment. While it is true it is small, other companies like Guesser have ramped fast. Unlike Veil, Guesser has adopted a curated approach and focus on users outside of US. Oh yeah. US people cannot user prediction markets like Veil. Let’s see what they build. Good they don’t have a muppet token. at least. [Source]
Bitstamp Lures Gemini’s Caitlin Barnett to Head US Compliance. The new hire gives a further boon to Bitstamp’s operations in the US after the company secured BitLicense in NYC. The exchange is growing its team after hiring former head of institutional at Coinbase. [Source]
Prasos, a Finnish cryptocurrency service provider, has obtained a payment institution license, making one of the few nationally licensed Bitcoin exchange in the world. The license allows to operate in others European countries. Note the exchange was founded in 2012 and last year reported €140m in cryptocurrency deposits, while trading volume in its brokerage unit exceeded €220 million. Prasos also runs websites such as Coinmotion.com, Bittiraha.fi and Denarium [Source]
Polish cryptocurrency exchange BitMarket announced its shutdown on its official website on July 8. Leading cryptocurrency analytics website CoinMarketCap shows that the trading platform volume was relatively low — $850,080 [Source]
Paxful has entered into a joint venture with BitMart, a digital asset trading platform with a global user base of more than 700,000 people. As a result of the partnership, BitMart users will be able to make payments using Paxful’s technology without paying listing fees, while Paxful users will have the opportunity to convert their Bitcoin into other cryptocurrencies through the exchange [Source]
No major news from Corporates this week. So I just thought it would be cool to show the global Bitcoin nodes distribution. Guess who has the largest number of nodes? YES IT IS EUROPE 🇪🇺 [SOURCE]
🏦Regulations / Universities
The German Central Bank has decided that digital currencies such as Bitcoin do not pose any major threat to the country’s existing monetary system [Source] That’s good news, meanwhile, Trump shared his angst on digital assets [Source]
Republic of Georgia has introduced a bill allowing its residents to exchange cryptocurrencies for fiat currency without the transaction being subjected to VAT. The article goes on to specify that mining companies will still have to pay VAT unless they are registered abroad. This may well result in local mining businesses relocating. [Source]
Spanish law enforcement pointed out that Bitcoin (BTC) ATMs show a gap in European Union’s AML. Per the report, Spanish police uncovered a local gang that used Bitcoin ATMs to transfer more than $10m for drug traffickers in Colombia and other countries [Source]
Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” (DFA) until the autumn session. This is an important milestone as it gives more time for the government to assess the opportunity [Source]
MakerDao, Seedcamp, Fabric Ventures, and Firstminute are pouring over a million dollars into a startup called Ramp looking to rival centralized crypto exchanges with a model that shakes up the process of purchasing crypto with fiat currencies. Counting crypto exchanges like Coinbase as its major competitors, Ramp brands itself as more “decentralized” due to its peer-to-peer trading structure that removes the need for a centralized custodial wallet, which exposes users to the risk of hacks [Source]
Multicoin, Coinbase Ventures, BlueYard Capital and Collaborative Fund are backing a new protocol to help developers more smoothly interact with decentralized file storage. The investment takes the form of a $1.5m seed round in data startup Textile [Source]