Who talked about crypto at the Milken Institute Global Conference?

Howdy! Hope you all have a terrific Tuesday. Lets bake like an oven and get this newsletter cooking.

Today's Topics:

• Crypto highlights from The Milken Institute Global Conference

• Entre the Web3 version of LinkedIn launched

• Twitter Tuesday

• Quick Links

Crypto highlights from The Milken Institute Global Conference

Every year the Milken Institute Global Conference gathers leaders, entertainers, and investors to meet and share ideas. Think of it like Coachella with insanely rich people and much lamer music. A few speakers mentioned the upcoming recession so we take that as a bearish signal. Crypto came up a few times and we share highlights below.

Ken Griffin the founder of Citadel Securities might be coming around on crypto after beating out ConstitutionDAO on a copy of the constitution in November 2021. He mentioned younger employees at his firm being an influence on his changing views. Quite a turn around from the dude that once called crypto “a jihadist call.”

Opportunities for Citadel:

• Crypto Exchange - Where have wee seen this idea before?

• Liquidity Provider for institutional and maybe retail investors

Citadel is looking to enter cautiously but Ken sees crypto in their future. He wants to make sure anything they build is high quality and scam proof. For example he said he would not want to be a counter-party to a crypto transaction with North Korea. Neither would we.

Brian Armstrong the co-founder/CEO of Coinbase sat on a panel with Cathie Wood, CEO of ARK Invest. Brian talked with excitement about more institutional investors jumping into crypto. Cathie was asked to comment afterwards and she said it is “rather slow” on the institutional side. Awkward.

Wood blamed the SEC for:

• Lack of regulatory guidance

• Negative views on digital currencies

• Policies meant to prevent bad actors vs launch innovation

Crypto companies there:

Algorand and Coinbase

Mushroom Alpha reporters there:

Zero

Entre the Web3 version of LinkedIn launched

Entre the LinkedIn of Web3 is built using DeSo, a Layer 1 blockchain for decentralized social networking.

We logged in and it seems interesting…for a LinkedIn competitor.

The UI/UX is clean and it features dark mode by default. Users are incentivized to onboard and use certain features to earn Entre points. The Entre points can then be redeemed for crypto. Not to clear on what “crypto” entails but we assume DESO tokens.

LinkedIn:

• Connect with people and post content. Hope people discover you and offer you a job.

Entre:

• Connect with people and earn immediately with your posted content. The job search part seems quite similar to LinkedIn.

The platform is targeted specifically towards the Web3 community for:

• Post or view Web3 roles

• Content creation

• Team meetings

• Create live streams and events

Entre sounds like a dish you get at a fine restaurant so we are not fans of the name but the platform has traction.

Twitter Tuesday

Great thread on how to follow the right people on Twitter for Alpha

Quick Headlines

SEC adding 20 headcount to Crypto unit. - Think of the SEC as the Robocop for US investors.

Goldman Sachs lends cash to Coinbase using BTC as collateral.

Two large Argentina banks are letting people buy crypto. BTC, ETH, USDC, and XRP for now. Not surprising for a country whose inflation issues are crazy.

Uzbekistan moving to regulate crypto - The president wants to encourage new business formation.

Web 3 studio Superlunar launches. Backed by Gemini they will focus on design and security.

Funding News:

Decrypt Web3 news company raises $10million. - Congrats!

Syndicate DAO bags $6 million for a total of $28 million. - They make it easy to form investment DAOs.

Eeny, meeny, miny, moe see you tomorrow!

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