Cryptocurrency companies raised a record $6.5 billion between July and September 2021 in a total of 339 funding rounds. The figure marks the third consecutive record this year, after firms raised $3.83 billion in the first quarter and $5.1 billion in the second.

The U.S. government may expand its efforts to study and regulate the cryptocurrency sector as the Biden administration is considering an executive order for federal agencies, which would require them to study the crypto industry and provide recommendations for its oversight.

MV Index Solutions GmbH in partnership with CryptoCompare today announced the launch of eight new digital asset indices covering decentralized finance (DeFi), infrastructure application, media and entertainment, and smart contracts.

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Top stories in the Crypto Roundup today:

• Crypto Firms Raise Record $6.5 Billion in Q3 2021
• White House Considering Broader Crypto Market Oversight
• MVIS and CryptoCompare Launch 8 New Digital Asset Indices
• Chart of the Week: FTX’s Perpetual Basket Products Popularity Maintained
• Sponsored: Grab Up to 600 BIT on Bybit — And Be Part of BitDAO

Crypto Firms Raise Record $6.5 Billion in Q3 2021

Cryptocurrency companies raised a record $6.5 billion between July and September of this year in a total of 339 funding rounds. The figure marks the third consecutive record this year, after firms raised $3.83 billion in the first quarter and $5.1 billion in the second.

The figure almost doubles the amount that venture capitalist funds invested in cryptocurrency companies last year, a total of $3.8 billion. It’s worth noting that $6.5 billion was raised in disclosed deals only.

Cryptocurrency exchange FTX raised $900 million in its Series B funding round, which valued it at $18 billion. NFT-based fantasy soccer game Sorare raised $680 million at a $4.3 billion valuation, while Bitcoin mining firm Genesis Digital Assets raised $431 million.

White House Considering Broader Crypto Market Oversight

The U.S. government may expand its efforts to study and regulate the cryptocurrency sector as the Biden administration is considering an executive order for federal agencies, which would require them to study the crypto industry and provide recommendations for its oversight.

The order would include the Treasury Department, Commerce Department, National Science Foundation and National Security Agencies. The order would also clarify the responsibilities that each agency has around cryptocurrency and blockchain technology.

Federal agencies have for years studied cryptocurrencies and provided regulatory guidance on the space. The Office of the Comptroller of the Currency (OCC), the U.S. Securities and Exchange Commission, and the Commodity Futures Trading Commission have issued guidance letters and informal statements.

MVIS and CryptoCompare Launch 8 New Digital Asset Indices

MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare today announced the launch of eight new digital asset indices covering decentralized finance (DeFi), infrastructure application, media and entertainment, and smart contracts.

These indices are designed to measure the performance of the respective digital assets. The rules-based indices cover the broadest CCCAGG pricing provided by CryptoCompare, are calculated in USD as price return indices. Capping factors are applied to avoid overweighting of single index components.

The indices are reviewed monthly. Detailed information about the Indices, including methodology details and index data, is available on the MV Index Solutions website.

The number of components in each index varies, with some having as little as six components and others having up to 35. They are designed to measure the performance of digital assets covering different sectors of the market.

Chart of the Week: FTX’s Perpetual Basket Products Popularity Maintained

FTX’s perpetual basket products continued to grow in popularity throughout September. The DEFI-PERP product saw the largest monthly volume at $697.8m - this basket features #DeFi related tokens such as Maker $MKR, Compound Finance $COMP and ThorChain $RUNE.

The MVDA25-PERP, which tracks the @MVIS CryptoCompare Digital Assets 25 Index, has also seen its volume rise from $74.2M in August to $114.1M in September.

Full breakdown below in our latest Chart of the Week 👇

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