Here are the top web3 stories from this week.
The Failure of FTX Continues to Dominate Headlines
📉 The spectacular failure of FTX made new headlines seemingly every day this week. Last weekend, news broke of a $600MM hack that might’ve been an inside job. The ripples hit hard to a number of other crypto players, with distressing news from Genesis, BlockFi, Ikigai, and more. A lawsuit was filed against FTX and their celeb endorsers including Tom Brady, Gisele, and Steph Curry. On Wednesday night, Bankman-Fried had this bonkers Twitter DM interview with Vox. I’m sure FTX will continue to make top news for several more weeks.
Light Week in Funding
💰 In a light week, Matter Labs brought in $200MM for their blockchain scaling solution. Circularise raised $11MM for blockchain sustainability. Funding for Crypto startups will certainly be impacted by the FTX debacle.
New Offering in Web3
👟 Nike has been an early innovator in web3 with their purchase of NFT innovator RTFKT. Now the company has announced .Swoosh, a new platform that will be their home for virtual footwear, apparel, and accessories. Stablecoin leader Circle also made news with their integration of Apple Pay.
CEOs of Coinbase and Circle
🎙️ Coinbase CEO Brian Armstrong and Circle (USDC creator) CEO Jeremy Allaire teamed up for this podcast. The pair discussed the utility value of Crypto, digital identity, and much more.
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