Top Web3 Headlines from This Week 12.16.2022

Here are the top web3 stories from this week.

FTX Impact

FTX Founder Arrested

👮 FTX founder Sam Bankman-Fried was arrested in the Bahamas and awaits extradition to the U.S. He faces charges from the DoJ, the CFTC, and the SEC. Before he was jailed, he had planned to deliver this insane testimony to Congress.

Market Disruptions

Continued Crypto Troubles

📉 Contagion from FTX has hit Binance hard. The company has seen billions in withdrawals as they potential face U.S. charges around money laundering. Celebrities including Justin Bieber, The Weeknd, Snoop Dogg and more were sued by Bored Ape holders for pumping that NFT collection. A similar suit was dismissed by a judge last week, so it will be interesting to see if this one gets traction.

Capital Raised

Deals Activity Picks Up

💰 On the positive side, funding activity in web3 accelerated this week. Data company Nillion scored $20MM. Crypto insurance firm Evertas got $14MM. Starbucks NFT partner Forum3 added $10MM. Web3 game developer Dogami raised $7MM. Decentralized sports betting startup Frontrunner closed a $4.75MM round.

Content

Author of Chaos Monkeys on Web3

🎙️ Antonio Garcia Martinez wrote a popular book called Chaos Monkeys about his time in the ad team at Facebook. He joined the Bankless podcast to discuss how web3 will shape the future of the internet and to talk about his new company in the space.

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