Top Web3 Headlines from This Week 10.06.2023

Brian Zwerner
2 min readOct 6, 2023

Here are the top web3 stories from this week.

Legal

βš–οΈ Lawyers delivered their opening statements in the ongoing SBF trial, where Sam Bankman-Fried faces legal scrutiny.

πŸ‡ΈπŸ‡¬ Zhu, co-founder of Three Arrows Capital, faced arrest at a Singapore airport and subsequent sentencing to four months in prison.

πŸ“œ The SEC’s motion to appeal its loss in the Ripple case was denied, marking a significant development in the ongoing legal battle.

βš–οΈ A judge sentenced three individuals for their involvement in a crypto-related Ponzi mining scheme.

πŸ” Friend Tech users experienced a major security breach, resulting in the theft of 385K Ethereum tokens.

Capital Raised

πŸš€ 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.

βš’οΈ Web3 infrastructure startup Phaver closed $7MM new funding to build onboarding tools for decentralized social platforms.

Products

πŸš€ 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.

πŸ’Έ The Sui Foundation announced a $50MM ecosystem program to promote new DeFi initiatives on the Sui blockchain.

Diversity in Tech

πŸ’ͺ🏽 Acceleration Capital and Caz Investments invested in TXV, a minority-led thematic investment firm.

πŸ’‘ Russell Innovation Center received an $800K grant from Walmart, which will be used to support a program that educates entrepreneurs.

πŸŽ“ Morehouse College introduced its own Google in Residence program, aiming to foster innovation and diversity within its academic community.

πŸ“š An appeals court decision blocked a venture capital fund’s grant program specifically designed for Black women entrepreneurs.

πŸš€ 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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Brian Zwerner

Writing about Crypto and web3 for business executives