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CW3 Takes Off 🚀 + More Advisors Adopting Crypto 💰

Ether Capital Newsletter
Ether Capital Newsletter
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It was a big week for us at Ether Capital! 🥳
CW3 Makes a Splash 💦
We were excited to help launch the Canadian Web3 Council (CW3) — a new industry association featuring Canada’s 🇨🇦 top cryptocurrency and Web3 companies who have banded together to advocate for proper regulation of the space. 🧑‍⚖️
Ether Capital, along with other members, founded CW3 because we believe it’s important to assist different levels of government when it comes to creating thoughtful policies that foster innovation and protect end users.
The council’s first order of business is to encourage Canadian regulators to work alongside industry players 🤝 and develop a comprehensive national strategy for cryptocurrency and digital assets. Education 🧑‍🏫 is also high on our list, as we want to narrow the knowledge gap and help Canadians better understand how the industry operates. This will ultimately lead to a more effective framework that takes into account the industry’s values of democratization and open-source platforms.
Pushing for a National Crypto Strategy 💪
Brian Mosoff, CEO of Ether Capital, on BNN Bloomberg
Brian Mosoff, CEO of Ether Capital, on BNN Bloomberg
What we bring to the table
We want to see Canada secure a leading position to guide the industry — something we emphasized during our interview with BNN Bloomberg 📺 earlier this week.
As a public company led by traditional finance executives and crypto native thought leaders, Ether Capital is in a unique position to help Canadian regulators. We’re familiar with the many intricacies of cryptocurrency and Web3, as well as the regulatory landscape.
We can pinpoint 📌 some of the specific challenges the industry and regulators might run into by drawing on our own experience navigating the capital markets. The idea is to work together to find solutions.
The takeaway ☝️
Despite Ethereum and other leading platforms originating in Canada, we risk falling behind other countries 🌎 that have taken a more proactive approach to regulating the space.
There’s great economic benefit to establishing proper policies that attract and retain crypto-related business, talent and investment. But we need to move quickly before it’s too late. ⏳
So far, our conversations with policymakers have been very productive and we look forward to helping Canada 🇨🇦 participate in the evolution of the asset class.
Coming Around to Crypto 🔄
If you’re a financial advisor, you’ve probably been fielding many questions from clients about how they can increase exposure to cryptocurrency. 🙋
A recent report from a U.S.-based research firm says 10 per cent of advisors currently use cryptocurrency on behalf of their clients. But over the next two years, 45 per cent expect to be accessing the new asset class to meet growing demand. 📈
We spoke with The Globe and Mail about how increasing appetite for digital assets presents a great opportunity for advisors to expand their business models and introduce other products in addition to cryptocurrency ETFs. 💡
In Conversation with Uniswap's Gordon Liao 🎙️
Gordon Liao, Head of Research, Uniswap Labs
Gordon Liao, Head of Research, Uniswap Labs
We gave you a mini preview last week of our conversation with Gordon Liao, Head of Research for Uniswap Labs — the largest decentralized cryptocurrency exchange. 🦄
We’re excited to now share the full episode on our YouTube channel 💻 for your viewing and listening pleasure!
Gordon recently left a career as a senior economist for the United States Federal Reserve 🏛️ to join the world of decentralized finance (DeFi). He also co-authored a report on stablecoins that was released by the Fed in January.
During his time at the U.S. central bank, Gordon says he was made aware of balance sheet constraints that impacted the repo market. One example being a large rate spike 📈 in September 2019, where the repo benchmark jumped from 0 per cent to 10 per cent intra-day. Gordon believes that blockchains are able to address some of these issues that cause market friction as a result of intermediaries. 🏦
What will it take for CeFi to embrace open-source networks?
Our ears perked up 👂 when Gordon talked about the possibility of major financial institutions building infrastructure 🛠️ on top of open-source platforms like Ethereum.
“We understand the constraints of having siloed, walled-garden-type of environments because it creates perverse incentives of institutions are ‘too big to fail,’ single points of failure, as well as not having enough checks and balances,” he says.
At Ether Capital, we firmly believe that cryptocurrency and blockchain address many of the inefficiencies that exist in traditional financial systems 🏦 — something that we touched on with Gordon.
It was a very insightful discussion 💡 and interesting to hear his perspective as someone who worked on the inside. Check it out 👈 and let us know what you think!
EthCap in the News 🗞️ 🎥
Alberta introduced a new bill this week, that if passed, would allow companies to test innovation in a sandbox environment where they can experiment without being hindered by certain regulatory requirements.
Prior to the bill being announced, we spoke with The Canadian Press about what it will take for industry activity to flourish in a province like Alberta.
On a separate note, we spoke with Wealth Professional about why volatility 🎢 presents a good opportunity for investors to re-evaluate their portfolios.
Newsworthy Links 🔗 & Highlights
Shakepay announced it has reached one million Canadians who use its services. Since most Canadian banks prohibit clients from connecting their accounts to any crypto-related business, Shakepay makes it easy to buy and sell ether or bitcoin and transfer the assets to your wallet or exchange.
A European Union Parliament committee recently voted in favour of tighter KYC and AML rules for ”unhosted” private wallets. The industry didn’t take too kindly to the news and many including Coinbase CEO Brian Armstrong voiced their concerns.
Huntingdon Valley Bank, a 151-year-old American bank with US$500 million in assets, submitted a Collateral Onboarding Application to MakerDAO. This would mark the first time a traditional lender has been able to borrow against its assets using DeFi.
Have Questions About Crypto? 🤔
The industry is quickly evolving and there’s a lot of information to keep up with. That’s why we want to help! 🦸
Email us your questions and we’ll respond to as many as we can. While we can’t provide investment advice, we do want to steer you in the right direction so you can be informed.
Thank you for subscribing to our weekly newsletter! We’d love to hear from you, so please don’t hesitate to reach out. 😎 🚀
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