Top Web3 Headlines from This Week 04.07.2023
Here are the top web3 stories from this week.
Capital Raised
Web3 Saw Big Deals This Week
💰 LayerZero tech protocol hits $3Bn valuation on $120MM raise. Crypto wallet leader Ledger grows with $108MM funding. Financial management platform SwissBorg completes $23MM funding. DeFi player M^Zero launches with $22.5MM in capital. Crypto bridge provider Li.Fi gets $17.5MM. Both Bitget and Alchemy Pay closed $10MM rounds.
Market Challenges
Lawsuits and Updates on Hacks
📉 Binance can’t seem to get out of the headlines. This week the company, their CEO, and several of their promoting influencers were the target of a $1Bn lawsuit. A high frequency trading Ethereum bot group was hit with a $25MM hack. On the positive side, most of the $200MM prior hack of Euler Finance has been returned to the company.
Products
Bored Apes Get a New Leader
🐒 A former Activision Blizzard gaming exec has joined Yuga Labs, creators of the popular Bored Ape franchise, as their new CEO. This continues a trend of gaming execs moving into web3. Additionally, NFT platform OneOf acquired blockchain rewards startup Tap Network.
Content
W3 Studio on the Hue Seth Show
🎙️ I joined the Hue Seth Show this week to talk about what we are building at W3 Studio. We dug into the details on our $200K grant program for Black, Latinx, and Women founders building in web3.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Howard University and PNC Bank partnered on a $17MM program to support Black founders. Our venture studio non-profit W3 Studio is selling NFT membership passes. Support diverse founders in Atlanta by purchasing a pass today. Also, you can check out our list of pitch competitions, grant programs, and other founder resources here.
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