GM 👋 this is Seedphrase, your got to the crypto newsletter that brings the spice to the kitchen so you don’t cook plain food!

📓 Today’s Agenda:

• 🔥 Crypto Headlines

• 🌙 A Lunar Arrest

• 🏦 Funding Friday

• 🖼 NFT Headlines

🌙 A LUNAR ARREST

For those that have never heard of Do Kwon, please take a seat. It's storytime.

Do Kwon is the founder of Terra (yes, that Terra), home to one of the biggest rugs in cryptocurrency history.

Reasoning? Just casual fraud on an 11-figure scale. Nothing huge.

Fun Fact: The Terra collapse was responsible for losses estimated at $45-60 Billion and was the catalyst for many dominos we see falling today.

Following the collapse, Do Kwon went on the run and started a global game of hide and seek with the SEC and a string of other governments. The balls on this guy, amirite?

However, in a weirdly upsetting way, this legendary game of hide and seek has come to a close following reports of Do Kwon being arrested in Montenegro via the Minister of Interior of Montenegro, Filip Adzic.

So how does this affect your bags? Unfortunately, it does nothing for your bags, as the pain has already set in for those who experienced this headache in real time.

However, there is some light at the end of the tunnel, as Do Kwon's arrest marks a significant development in the ongoing Terra investigation.

Even though it's unlikely for anyone affected by the terra crash to be made whole in the short term, provisions may now be possible in the mid-long term.

Watch Out: This development could re-spark the narrative of the need for heavy crypto regulation. With how the SEC has been moving lately, it wouldn't surprise me to see them use this arrest as the face of their movement.

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🏦 FUNDING FRIDAY

• Radix Tokens Raises $10M in a fresh funding round led by DWF ahead of its Babylon mainnet. The mainnet will allow smart contract capability on the Radix network for the first time - Learn more
  

• Tomi Raised $40M in a funding round led by digital asset firm DWF. Tomi is a DAO and is aiming to build an alternative internet network promoting freedom of speech and access to uncensored information - Learn more
  

• CCP Games Raises $40M in a funding round led by A16z. CCP Games is a video game developer and plans on using the capital to expand its research and development team to create a blockchain-based MMO - Learn more

🖼 NFT STORIES

• Reddit CEO confirms the development of a Reddit digital collectibles marketplace. This will significantly aid in the trade of Reddit Digital Collectibles, which is currently a roadblock for users - Learn more
  

• Overlord Taps Dan Houser-Backed Revolving Games to develop a video game in the Overlord ecosystem, which features colorful lizard NFTs - Check it out
  

• The Otherside 2nd Trip is set to go live on March 25th, 12:00 PM EDT. Participants will be able to enter the experience 30 minutes before the start of 2nd Trip - Learn more
  

• Magic Eden is continuing its cross-chain expansion with the launch of support for Bitcoin Ordinals. Magic Eden now supports Ethereum, Polygon, Solana, and Bitcoin NFTs - Learn more
  

• Sony has filed a patent for NFT infrastructure on PlayStation, allowing players to earn NFTs in-game. The NFTs will be tradable and would be used across multiple platforms - Learn more
  

• Polygon has partnered with Immutable to launch a zkEVM $MATIC staked chain. This chain will be powered by Polygon and is focused on the development and adoption of Web3 Gaming - Learn More
  

• Magic Eden has introduced Magic Eden Games, a program to help gamers discover and explore Web3 games across various platforms and chains - Learn More
  

• Nexon, a Korean gaming giant, has announced its plans to work with Polygon for MapleStory Universe NFTs. MapleStory Universe has more than 180 million registered players who are now being introduced to NFTs and Web3 gaming - Learn more

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.