Top Web3 Headlines from This Week 01.20.2023

Here are the top web3 stories from this week.

Market Updates

Some Good and Some Bad News in Crypto

🤷 On the positive side, Amazon announced a partnership with the Avalanche blockchain. Also, Congress announced a new digital asset committee to explore regulations. On the negative side, challenges at Digital Currency Group has led them to explore the sale of media company CoinDesk, which could be worth $200MM. The U.S. arrested the Russian founder of Bitzlato, who was accused of running a massive money laundering operation using Crypto.

Capital Raised

Funding Activity Kicks Higher

💰 Web3 funds continued to accumulate cash. HashKey Capital closed a third fund at $500MM, and Singapore-based Blockchain Founders Fund got $75MM. Startup funding was also active this week. Parafin received $15MM funding for web3 rails for Latam. Obol Labs added $12.5MM for blockchain security. Intella X got $12MM for web3 games.

Press Coverage of W3 Studio

Learn More About My New Venture Studio

📣 Last week we announced the launch of W3 Studio, a venture studio to help diverse founders in Atlanta build startups in web3. You can read more about our plans in the articles in Hypepotamus and Atlanta Inno. We are currently looking for corporate partners that want to support diverse builders in Atlanta. Please email me if you know a company that might be a good Founding Partner.

Content

Electric Capital Quarterly Report

📰 Electric Capital is a leading Crypto VC. Each quarter, they report on the usage by developers of different protocols and tools in the sector. The number of developers in Crypto grew in 2022 but turned south in Q4. Good gains were seen outside of $BTC and $ETH.

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