Top 3 Stories From Web3 This Week 2.2.2024

Here are three web3 stories you need to know from this week.

DeFi project Jupiter completed its airdrop of tokens to the Solana community this week, sporting a first day market value of $680MM. The trading exchange has been a hit and Solana fans were eagerly anticipating this launch. Story here.

Crypto banking group Sygnum closed a $40 million round, which valued the company at $900 million. Investment firm Azimut Holdings led the round for the Swiss entity, who plans to use the funds to expand operations in Europe and Asia. Story here.

The U.S. Department of Justice charged an Australian and two Americans with a massive $1.9Bn Crypto fraud. The trio ran HyperFund, a purported DeFi platform that was actually a “non-existent cryptocurrency mining operation.” Their too good to be true scam offered HyperFund “memberships” that promised investors between 0.5–1% daily until the company either doubled or tripled the investor’s initial investment. Story here.

W3 Studio has launched its NFT membership passes, which can now be minted on the Ethereum blockchain. Priced just under $200, the proceeds go to support our mission of supporting Black, Latinx, and Women founders building web3 startups in Atlanta. Buy one today here.

Our nonprofit W3 Studio is a 501c3 charitable organization. You can support us by donating online here. Also, check out our list of pitch competitions, grant programs, and other founder resources here.

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