Top Web3 Headlines from This Week 10.06.2023
Here are the top web3 stories from this week.
Legal
⚖️ Lawyers delivered their opening statements in the ongoing SBF trial, where Sam Bankman-Fried faces legal scrutiny.
🇸🇬 Zhu, co-founder of Three Arrows Capital, faced arrest at a Singapore airport and subsequent sentencing to four months in prison.
📜 The SEC’s motion to appeal its loss in the Ripple case was denied, marking a significant development in the ongoing legal battle.
⚖️ A judge sentenced three individuals for their involvement in a crypto-related Ponzi mining scheme.
🔐 Friend Tech users experienced a major security breach, resulting in the theft of 385K Ethereum tokens.
Capital Raised
🚀 A Hong Kong-based crypto firm initiated a $100Mn fund aimed at supporting startups in the Asia-Pacific region.
🍽️ Blackbird secured an impressive $24Mn in funding for its restaurant loyalty platform, highlighting the growth potential of the Web3 dining sector.
🌐 IYK’s $16.8Mn fundraise, led by a16z Crypto, enables digi-physical creation for brands such as Adidas and Atlantic Records.
🏦 DeFi lended Cicada adds $9.7MM funding for its non-custodial lending program.
⚒️ Web3 infrastructure startup Phaver closed $7MM new funding to build onboarding tools for decentralized social platforms.
Products
🚀 Fireblocks expanded its crypto offerings by acquiring tokenization firm Blockfold for $10Mn.
🌐 Boss Beauties enhanced Web3 education opportunities for women through its acquisition of BFF.
💸 The Sui Foundation announced a $50MM ecosystem program to promote new DeFi initiatives on the Sui blockchain.
Diversity in Tech
💪🏽 Acceleration Capital and Caz Investments invested in TXV, a minority-led thematic investment firm.
💡 Russell Innovation Center received an $800K grant from Walmart, which will be used to support a program that educates entrepreneurs.
🎓 Morehouse College introduced its own Google in Residence program, aiming to foster innovation and diversity within its academic community.
📚 An appeals court decision blocked a venture capital fund’s grant program specifically designed for Black women entrepreneurs.
🚀 This year’s Venture Atlanta, one of the largest and most established venture conferences in the Southeast, finished with a success with a partnership with Goodie Nation.
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