Top Web3 Headlines from This Week 09.22.2023
Here are the top web3 stories from this week.
Legal
🔒Updates on the FTX Case
💼 FTX Bankruptcy Estate was granted permission to sell crypto holdings. This lawsuit comes amid the ongoing FTX bankruptcy proceedings, where a judge has granted the estate permission to sell its substantial $3.4 billion crypto holdings.
📢 The debtors of the bankrupt cryptocurrency exchange FTX has initiated legal action against Sam Bankman-Fried’s parents, accusing them of being involved in the alleged misappropriation of millions of dollars.
🎓 Stanford Returns Crypto Donations from FTX: Stanford University has decided to return all cryptocurrency donations it received from FTX and FTX-related entities, totaling $5.5 million.
⚖️ In other legal news, former Deutsche exec pleads guilty in Crypto fraud and a Celsius exec will testify against his convicted boss. Mark Cuban lost $870K from his MetaMask wallet to a phishing scam, and another scammer got $4.46MM from a Kraken customer.
Capital Raised
🚀 Blockchain FundHighlights:
💰 Blockchain Capital made a significant move, introducing two new funds totaling a staggering $580MM in assets. A new $60 million web3 fund was initiated by Sino Global, composed of Coinbase and Libra alumni, to drive innovation in the space. Former investors from DCG Blockchain Capital have teamed up to launch a $20MM early-stage fund at crypto advisory firm Reverie.
🌐 Web3 Startups Thrive:
🔐Crypto hybrid exchange GRVT announced a $39MM funding. Bastion received a $25MM investment for web3 onboarding tech. Jiritsu, a blockchain tech firm, secured $10.2 million to advance verifiable computing.
Products
🚀 Exciting Developments in Crypto Services:
🌐 Bitwave’s Expansion: In a notable move within the crypto industry, Bitwave has acquired the crypto accounting platform Gilded. This acquisition will enhance enterprise solutions for accounting and tax clarity in the United States.
🏦 Two banks making Crypto moves. Deutsche Bank has announced its plans to hold cryptocurrencies on behalf of institutional clients. Citi has embraced blockchain technology to enhance services for institutional clients.
🏈 Dapper Labs and the NFL renegotiated their NFL All Day NFT program to try to reinvigorate the program.
Atlanta Web3 Expo
September Event Tickets
🗓️ 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. See 15+ amazing Atlanta startups in our pitch competition and exhibition. You can register free to attend here.
Diversity in Tech
🌟 Recognizing Hispanic Heritage Month 2023 🌟
💪🏽 Venture Forward Highlights Diverse VC Trailblazers.
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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