Top Web3 Headlines from This Week 06.16.2023
Here are the top web3 stories from this week.
Legal
Coinbase and Binance Continue to Dominate Headlines
⚖️ The SEC’s assault on Coinbase and Binance is leading to ripples in the Crypto industry. The SEC attempted to freeze Binance US’s assets, but a judge was not ready to issue that order. These challenges led Binance US to halt USD cash withdrawals this week. The SEC also asked a different judge to give them four months to respond to Coinbase’s request for clear Crypto rules. Robinhood delisted tokens from the SEC lawsuits. Ohio Congressman Davidson introduced a bill to restructure the SEC and fire Chair Gensler. Here is my take on the situation, and legal experts weighed in too.
In other legal news, hackers drained $800K from Sturdy Finance DeFi protocol and scammers hijacked Twitter influencer accounts to grab over $1MM.
Capital Raised
Funding for Web3 Marches On
💰 Blockchain computer power Gensyn closed a $43MM round. Taiko brings in $22MM for blockchain infrastructure. Bitcoin life insurer Meanwhile gets $19MM. Decentralized social network Lens Protocol raised $15MM. Web3 gaming startup HyperPlay adds $12MM.
Products
Less Activity with New Products
👟 The uncertain regulatory environment likely led to slower activity by big companies in web3. However, Puma is launching a 3D wearable experience. Ava Labs launched a web3 gaming studio.
Content
Leading Web3 Women Discussion
🎙️ Carly Reilly from Overpriced JPEGS podcast hosted two other leading women in web3 — Avery Akkineni from Vayner3 and Mags Kala from Double Down Fund. The trio spoke about topics from markets to regulation to AI and more.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Apple invested $25MM in diverse-led VC funds. Black Seed raised GBP 5MM to support Black founders in the UK. Spotlight on diverse-led FanFundr. Learn about Black-led 1888 Ventures and Startup Runway on the Atlanta Startup Podcast. Meet GA State Univ’s new cohort. Gabrielle Union awards $75K in grants to Black women founders. Our nonprofit W3 Studio just received our 501c3 designation. You can support us by donating or purchasing a digital membership pass here. Also, check out our list of pitch competitions, grant programs, and other founder resources here.
Follow me on LinkedIn for more frequent updates on web3.
*Thank you for reading this post. If you would like this directly to your Inbox twice a week, please subscribe. I would also really appreciate if you could share this post with someone who is interested in learning about Crypto and web3.*
