TL;DR

• Harris released a list of policy proposals, but encryption-related issues were notably absent.

• Crypto funds such as Pantera and ParaFi acquired MPLX tokens from FTX's bankrupt assets.

• Infineo tokenized $125 million in life insurance policies and aims to launch a secondary market for them.

• a16z Crypto Startup Accelerator kicked off its 2024 Autumn Program this week.

• Analysis reveals the Friend Tech project team earned $52.4 million in revenue through its agreement.

• AI infrastructure company PIN AI raised $10 million in a pre-seed funding round.

• According to Sky, SparkLend is gearing up to issue tokens, which might be obtainable by depositing USDC.

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Alpha of the Day

Harris’ Encryption Snub: Policy with a Side of Silence

Kamala Harris dropped a shiny new list of policy proposals, but encryption? Yeah, it didn’t make the cut. It’s like throwing a party but forgetting to invite your tech-savvy friends. With privacy and security being hot topics, you’d think encryption would be front and center, but nope—crickets. Tech enthusiasts are left scratching their heads, wondering why this crucial issue didn’t get a shoutout. Maybe it’s on the “to-do” list, or maybe encryption is the ghosted topic of the policy world. Either way, Harris seems to have left a big tech elephant in the room.

Crypto Funds Go Treasure Hunting: MPLX Tokens from FTX’s Ruins

It looks like Pantera and ParaFi just went on a little treasure hunt, scooping up MPLX tokens from the ruins of FTX’s bankruptcy. It’s kind of like finding gold in an abandoned theme park—sure, it’s risky, but the rewards could be huge. FTX’s collapse might’ve sent shockwaves through the crypto world, but that hasn’t stopped these funds from diving in and grabbing some discounted assets. The real question is, are MPLX tokens the hidden gem they’re hoping for, or just another piece of debris? Only time—and market trends—will tell.

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Infineo’s Big Play: Tokenizing Life Insurance Like It’s 2024

Infineo just took a bold step and tokenized $125 million worth of life insurance policies. Yup, that’s right—they’re turning policies into digital assets and planning to build a secondary market. It’s like turning an old-school contract into a tradable Pokémon card. Sure, life insurance might not scream “exciting investment,” but tokenization could breathe new life (pun intended) into the industry. With Infineo’s plans for a secondary market, who knows? Maybe life insurance will be the next hot trading trend.

a16z Accelerator: Class of Autumn 2024, Let’s Go!

The 2024 Autumn Program for the a16z Crypto Startup Accelerator just kicked off, and it’s like the new season of your favorite reality show—new faces, big ideas, and a whole lot of innovation. This accelerator is where the magic happens, giving crypto startups the push they need to go from “good idea” to “next big thing.” Whether it’s Web3 projects, blockchain innovations, or new ways to blow your mind with decentralized tech, a16z’s program is the launchpad. So buckle up, crypto fans—this cohort could be creating the next unicorn.

Friend Tech’s Cash Cow: $52.4 Million, No Biggie

The team behind Friend Tech is sitting pretty after pulling in $52.4 million in revenue. That’s not pocket change—that’s “I’m buying a yacht” money. Through their agreement, they’ve managed to rake in a serious haul, proving that this project is more than just hype. While some are still scratching their heads about what Friend Tech actually does (because, let’s be real, half of us are still figuring it out), one thing’s for sure: they’ve figured out how to make money, and lots of it.

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PIN AI Raises $10 Million: Pre-Seed Flex

AI infrastructure startup PIN AI just flexed on the industry, raising a cool $10 million in pre-seed funding. For a company that’s just getting started, that’s like showing up to your first day of school in a brand new sports car. The AI space is already packed with competition, but PIN AI clearly caught the attention of some big-name investors. With this funding, they’re gearing up to build some serious AI infrastructure, and if they play their cards right, they could be the next big player in the AI world. Watch out, tech giants, PIN AI’s coming for you.

SparkLend’s Token Drop: USDC Required

Word on the street (or rather, from Sky) is that SparkLend is about to drop some tokens, and they might be up for grabs if you’ve got some USDC lying around. It’s like a presale for an exclusive concert—except instead of tickets, you’re getting in on the ground floor of SparkLend’s new crypto offering. While details are still a bit hush-hush, it sounds like SparkLend is gearing up for something big. If you’re a fan of decentralized finance (and who isn’t these days?), this might be the time to start paying attention.

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