Top Web3 Headlines from This Week 05.05.2023
Here are the top web3 stories from this week.
Products
Big Companies Keep Making Web3 Moves
💳 After last week’s Visa announcement, Mastercard discussed their work with Solana and Polygon on a Crypto standard. Google Cloud is also working with Polygon, and Google also announced a web3 startup cloud program. Venmo is going to enable Crypto transfers. Sports Illustrated makes the leap into NFT tickets. Sotheby’s is launching an NFT marketplace. Yuga Labs made another gaming hire, luring a former Epic Games exec as CTO. CoinMarketCap is bringing a Shark Tank style Crypto pitch TV show called Killer Whales to the small screen. Meme coin Pepe rocketed to over a $500MM valuation.
Legal
Coinbase and SEC Keep Fighting, and More Regulatory Actions
⚖️ Coinbase and the SEC keep sparring in public. COIN’s Chief Legal Officer spilled the tea on the Bankless podcast. SEC Chair Gensler responds that Crypto firms must comply with the law. Crypto exchange Poloniex paid a $7.6MM OFAC fine. Bitcoin ATM Coinme is paying $4MM to settle an SEC case for unregistered securities. The FTX bankruptcy estate sold derivatives exchange LedgerX to a group of investors for $50MM, and they also confirmed plans to restart their independent FTX Japan Crypto trading entity. A former OpenSea exec was convicted of wire fraud and money laundering. In a Crazy Crypto Story, a man stole $21MM in Crypto from his brother that was supposed to be used to settle a fine, which got him arrested.
Capital Raised
Light Funding Week in Web3
💰 CMCC announced a $100MM blockchain fund for Asian startups. The popular Bankless podcast team launched a $35MM Crypto venture fund. Neowiz launched a $10MM Polygon gaming accelerator. Zodia Custody got $36MM in new funding. DeFi startup iZumi Finance raised $22MM. Tangem wallet closed a $8MM round. Crypto protocol FARE added $6.2MM.
Content
Diverse Web3 Builders with Drew Williams at FanFundr
🎙️ Our most recent guest on the Diverse Web3 Builders podcast is Drew Williams, the founder of FanFundr. This Atlanta startup is decentralizing pop culture through their onchain fan polls. You can watch the video version on YouTube here. You can also listen to the audio version on Apple, Spotify, or our website.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Meet the AfroTech Future 50 leaders in technology. Our venture studio non-profit W3 Studio is selling NFT membership passes here. Also, you can check out our list of pitch competitions, grant programs, and other founder resources here.
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