Crypto Investments Weekly – Oct. 15–21

Top investment deals across the crypto sector over the last week (Oct. 15–21, 2022):

BofA survey: Younger investors are 7.5 times more likely to hold crypto in their portfolios

Bank of America’s survey of wealthy Americans revealed that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. “If the youngest cohort isn’t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,” the bank wrote.

German crypto neobank Nuri has closed its doors

Sony-backed crypto neobank Nuri has shuttered operations after failing to find an acquirer or outside investment. The company raised $45 million in funding from investors in 2021.

Celestia labs raises $55 million to build modular blockchain network

Celestia Labs, the team behind the Celestia blockchain network, has raised $55 million in a combined Series A and B round led by venture capital firms Bain Capital Crypto and Polychain Capital. The fundraise pushes Celestia into unicorn status with a $1 billion valuation.

Bitcoin Group considering buying centuries-old German bank

Bitcoin Group SE is said to be considering the purchase of the German bank Bankhaus von der Heydt. Bankhaus von der Heydt is the same bank crypto exchange BitMEX planned to acquire earlier this year.

MakerDAO on course to custody 1.1 billion USDC with Coinbase for rewards

MakerDAO, the issuer of the stablecoin DAI, appears set to move forward with a proposal to onboard an account to Coinbase prime and transfer roughly 33% of its USDC ($1.1 billion) into custody.