Here are the top web3 stories from this week.
Coinbase Bringing Crypto Futures
🚀 Coinbase is still fighting with the SEC, but the CFTC approved their Crypto futures program this week. Helium started a $5/mo mobile phone network on blockchain rails. Mobile phone gaming giant Zynga launched their first NFT game. Two new web3 accelerators were announced — Futureverse Base Camp for metaverse startups and Bitcoin Frontier Fund’s Ordinals program.
Two Additional Funds, and Funding for Infrastructure
💰 Two new funds were raised for the sector — Kraken Ventures $100MM and Illuminati $50MM. Crypto custodian BitGo closed a $100MM funding. ZetaChain raised $27MM for cross chain infrastructure. Jada AI uses blockchain for AI, and they added $25MM. The Zepeto metaverse platform grabbed $13MM funding. Staking platform LSDfi is growing with $10MM new capital.
More DoJ, SEC, and CFTC Actions
⚖️ Late last week, SBF’s bail was revoked and he’ll stay in prison through his trial. Crypto exchange Bittrex is paying $24MM to end SEC investigation. The CFTC charged a group of running a Crypto scam on 14,000 individuals. Zunami Protocol suffered a $2.1MM hack. Shibarium Layer-2 revealed $1.7MM is stuck in their smart contract. Lastly, a group of Bored Ape holders sued the company, Sotheby’s, and several celebrities for pumping the popular NFT project.
Atlanta Web3 Expo
New Event and Founder Opportunity
🗓️ W3 Studio has partnered with other leading Atlanta web3 organizations (Atlanta Blockchain Center, 404 DAO and Solidity ATL) on the Atlanta Web3 Expo event taking place on September 28th. You can register free to attend here. Also, web3 founders can apply for our pitch event and expo here.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
Atlanta Blockchain Center and W3 Studio have partnered for the next Immutable Founders Program. If you run a web3 startup here in Atlanta, please apply.
Our nonprofit W3 Studio is a 501c3 charitable organization. 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.
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