Chainforest Weekly Recap (09/13/23)
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Chainforest Weekly Recap (09/13/23)
Greetings Rainmakers! ⛓️🌴
Welcome to the latest edition of the Chainforest Weekly Recap, where you’ll find up-to-date information on upcoming Chainforest DAO programming and industry events, the community feature of the month, a round-up of the most exciting happenings in our Discord this week, and a welcome to our new Rainmaker’s!
The top three channels were: 💬│general-chat, 📶│jobs-in-crypto, and 🔗│links.
Discord Highlights 👀
💵 Finance: Brian Shroder, the CEO of Binance.US, has departed the company during a time of turbulence marked by uncertainty and diminishing business performance. Binance.US has also confirmed significant layoffs, trimming its workforce by a third. These developments contribute to the ongoing challenges confronting the broader Binance group, characterized by increased regulatory scrutiny and the departure of high-ranking executives throughout 2023. Consequently, the company has downsized its operations significantly, resulting in a substantial decline in monthly trading volumes from $10.58 billion in January to $70 million in recent data
💵 Finance: Franklin Templeton has applied for a Bitcoin spot ETF with the SEC, joining other big players in this endeavor. Coinbase will serve as the custodian for the ETF's Bitcoin holdings, while Bank of New York Mellon will handle cash holdings. This application comes amid ongoing delays in the SEC's decisions on spot ETFs and a recent court ruling affecting Grayscale's ETF application. Franklin Templeton aims to offer investors a convenient way to access Bitcoin without managing private keys or crypto wallets
💰 DeFi: As Circle celebrates its tenth anniversary, CEO Jeremy Allaire has unveiled the company's aspiration to go public. Circle has been forging strategic partnerships with industry giants like BlackRock and Coinbase, aiming for long-term prosperity, especially with its USD Coin (USDC). Jeremy Allaire envisions Circle as a robust, autonomous, publicly traded enterprise, equipped with a multi-decade strategy focused on the evolving realm of programmable money and seamless exchange methods. Check out the full podcast here
💵 Finance: Coinbase has launched its Coinbase Prime Web3 Wallet, targeting institutional and enterprise clients seeking secure access to the world of Web3 and DeFi. This non-custodial wallet uses MPC technology and offers a range of capabilities, such as storing tokens from supported networks, interacting with dapps and smart contracts, tapping into decentralized liquidity, participating in DAO governance, managing NFT collections, and more! Coinbase Prime aims to provide a unified platform for Web3 activities, allowing clients to access DeFi and Web3 securely without resorting to fragmented solutions. It offers a consistent user experience and integrates seamlessly with existing Prime accounts
👩💻 Hackathon: The Solana Foundation has launched its eighth hackathon, "Hyperdrive," a global online competition offering a prize pool of up to $1 million in prizes and seed funding. The objective is to inspire innovators to create startups on the Solana blockchain. Over the years, Solana's hackathons have seen more than 50,000 participants, resulting in over 3,000 projects launched and $600 million in venture funding. Hyperdrive will take place from September 6 to October 15, 2023, featuring various tracks and significant rewards, including the top prize of $50,000 USDC and tickets to Solana’s Breakpoint 2024 conference. To view the full list of prizes, click here
⚖️ Regulatory: Rebecca Rettig, the Chief Legal and Policy Officer at Polygon Labs, joined The Scoop Podcast to discuss the ongoing legal cases between the SEC and Coinbase, and Ripple. She highlights how both Coinbase and Ripple are challenging the SEC's authority, emphasizing the need to adhere to established legal frameworks. Additionally, the podcast episode touches on topics such as regulatory frameworks for digital assets globally, the positive impact of blockchain technology, and the unique dynamics of the current crypto market
💵 Finance: PayPal has introduced an "Off Ramp" service in the United States, allowing users to convert their crypto holdings into USD and deposit them directly into their PayPal accounts. This move follows PayPal's recent launch of a crypto on-ramp service in collaboration with MetaMask and Ledger. With these developments, PayPal is expanding its crypto product suite to cater to the growing demand for cryptocurrency services
🤝 Interested in viewing or sharing deal flow with the Chainforest community? Members can also earn $RAINDROP token along the way!
One new deal was shared with the community last week! Access our Deal Flow tool here!
The deal flow tool allows you to:
Share new deals
Comment and ask questions
Tag members
Search past deals using our filtering system
Ways Rainmaker’s can earn $RAINDROP token:
Source a deal that Chainforest invests in
Aid in the due diligence process for a Chainforest investment
Support a Chainforest portfolio company
What kinds of deals does Chainforest invest in?
Check out our Investment Framework here!
Chainforest DAO Network (Open Roles) 💼
Investment Associate, Application Software (Bain Capital Ventures - Full-Time): BCV is looking to add an Investment Associate to the team in San Francisco. Associates work directly with Principals and Partners to support all aspects of the investment process. This associate will focus specifically on early-stage application software (including AI), fintech and commerce companies
Investment Associate, Infrastructure (Bain Capital Ventures - Full-Time): BCV is looking to add an Investment Associate to the team in San Francisco, CA. Associates work directly with principals and partners to support all aspects of the investment process. This associate will focus specifically on early and growth-stage infrastructure software investing
Investor Relations Associate (Coinbase - Full-Time): Coinbase is looking for a highly motivated finance professional to join our Investor Relations team and play a key role in our continued growth and achievement of operational excellence. The Investor Relations associate must possess a deductive mind, an ability to communicate complex ideas to leaders internally and investors externally over time, and a desire to make a meaningful impact on a dynamic, high-growth technology company
Associate, Consume (Point72 - Full-Time): The Point72 Consumer team is looking for a passionate, hard-working individual to join their investment team as part of a two-year Associate program. Their Associates conduct industry research, source potential investment opportunities, perform rigorous due diligence, and support our portfolio companies
Associate (Plug and Play - Full-Time): We’re actively seeking a Ventures Associate to assist in evaluating startups both for venture capital investment and qualification for our newest corporate innovation platform based in Cedar Park, Texas. The Ventures associate works closely with startup founders, corporate sponsors of the program, as well as colleagues on executing on the advanced manufacturing focus of the new office
Upcoming Events 🗓️
Permissionless II: Permissionless II is the world’s largest DeFi event. Join 7000+ crypto enthusiasts and builders September 11-13th at the Austin Convention Center in Austin, TX. This 3-day experience is filled with keynotes from Web3 leaders and thoughtfully curated panels, networking events, unforgettable parties, activations, and so much more
When: September 11-13, 2023, Austin, Texas
Details: here
Token2049 (Singapore): TOKEN2049 brings together the global crypto industry, uniting entrepreneurs, investors, developers, industry enthusiasts and global media - and creates unparalleled networking opportunities. This is the community that will define what’s next in the space
When: September 13-14, 2023, Singapore (Marina Bay Sands)
Details: here
Mainnet 2023: Mainnet is an immersive, agenda-setting summit held annually by Messari, the leading provider of market intelligence products that help professionals navigate the world of crypto and Web3. The summit gathers crypto leaders, operators, builders, and investors for three days of future-focused collaboration, networking, and programming
When: September 20-22, 2023, New York, NY
Details: here
NY Tech Week: a16z presents Tech Week 2023! Join us for tech weeks in LA this year to create IRL connections across the major tech hubs
When: Oct 16-22, 2023, New York, NY
Details: here
Interested in joining Chainforest? ⛓️🌴
How to apply: You can apply to become a member by completing our application on Typeform. We will review your submission and grant access after approving your profile. Apply here!
What is Chainforest?
Chainforest's mission is to build the most powerful ecosystem in the world leveraging an exceptional community of leaders to build, grow, and invest together to create the future of web3. We leverage the collective power of the Chainforest community to create incredible value for our Rainmakers, the ecosystem, and our LPs and other partners. The outsized performance will create a flywheel effect, allowing us to build an enviable ecosystem that attracts, develops, and inspires high-caliber talent to be their best selves and to make the future of Web3 collectively
Learn more about our DAO structure here!
Benefits of being a Rainmaker:
Exclusive Content: Access Town Hall AMAs, Workshops, IRL Events, Discord Discussions & Games, and Women in the Forest meet-ups! Expand your knowledge, network with experts, & enjoy the vibrant community
Rainmakers also have the opportunity to support Chainforest's VC fund. Rainmakers have the opportunity to earn $RAINDROP, our token backed by carry in our VC fund, in exchange for:
Sourcing a deal that Chainforest invests in
Aid in the diligence process for a Chainforest investment
Support a Chainforest portfolio company
Help Chainforest as an organization (e.g., take a part-time role with the community, design an NFT collection for the community
Note: Rainmakers are not required to invest in order to participate, but also do not have a vote on investment decisions
Deal Flow: Unlock the Chainforest x @proofofteamwork Deal Flow tool! Share deals, engage in discussions, ask questions, search prior deals, & earn $RAINDROP token by sourcing deals CF invests in, aiding in the due diligence for a CF investment, or supporting CF portfolio companies
Member Directory: Discover the invaluable Chainforest x @proofofteamworkdirectory: Strengthen bonds, explore business prospects, amplify deal flow, and unlock hiring opportunities. Search by location to connect Rainmaker's locally & also connect with Women in The Forest
I hope you enjoyed this week’s edition of the Chainforest Weekly Recap!
Till next week,