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Hyperlink—Dune Analytics raises $69.42 million series B, Crypto heads into the midterms
April 1st, 2022
The best of what’s happening now.
Midterms offer a test of crypto’s current potential for mainstream adoption
Crypto industry dives into the midterms, raising millions to court Democrats [Wall Street Journal]
What’s happening: Top crypto donors look to bolster support among Democrats heading into the midterms. Rep. Ritchie Torres (D-NY) has made a progressive case for crypto, arguing that the technology could offer better financial services to more people, than those currently offered by banks.
Notably, Senate Majority Leader Chuck Schumer (D-NY) has not laid out his position on cryptocurrencies yet, but:
“…the top Senate Democrat told the insiders gathered on last week’s fundraising call that while regulations are coming, they should not smother the industry as it matures, two people familiar with the gathering said on the condition of anonymity to discuss a private event.” [Wall Street Journal]
Why it matters: Crypto has yet to fully enter mainstream U.S. politics, although some in Congress have taken early positions on crypto in an attempt to sway perception of the industry ahead of expected regulation.
Crypto’s performance through the midterms will be an indicator for its current potential for mainstream adoption.
Dune Analytics raises series B at $1B valuation
Started From The Bottom - from nobody to unicorn in 3 years [Dune Analytics Blog]
What’s happening: Dune Analytics has raised a Series B round of funding of $69,420,000 at a $1 billion valuation. The round was led by hedge fund Coatue, and included previous investors Multicoin Capital and Dragonfly Capital.
Why it matters: Look for more billion dollar valuations as crypto expands further into the mainstream.