Top Web3 Headlines This Week 9.16.2022
Here are the top web3 stories from this week.
Big Companies in Web3
Starbucks is Coming for Web3
☕ Starbucks has started to release some details on the hotly anticipated web3 reward program. The coffee giant will work with Layer2 Polygon and more details are coming soon. Several investment and Wall St leaders including Schwab, Fidelity, and Citadel are launching a Crypto token exchange. On the negative side, payments player Bolt killed their proposed purchase of Crypto payments startup Wyre, though the two companies will still be working together.
Light Week in web3 Funding
💰 Only two sizeable deals to note this week. Layer 1 blockchain NEAR has partnered with Caerus Ventures on a $100MM early-stage VC fund focused on sport, music, film, fashion and art. NFT leader Doodles also announced a $54MM raise at a $704MM valuation.
Insider Trading Guilty Plea in Crypto
⚖️ The brother of a Coinbase product manager plead guilty this week to charges of insider trading. This is the first case of this category in the Crypto space to come to conclusion and will set precedence for others. The government alleges the Coinbase employee was tipping his brother and another person about Crypto tokens that would be listed soon on the Coinbase exchange and that the group traded ahead of this knowledge. The cases against the two other individuals are still outstanding.
Community Building at Upstream and Truth Labs
🎙️ Alex Taub is a leader in the web3 community. He runs DAO tooling platform Upstream, and his Truth Labs is responsible for the popular Illuminati and Goblintown NFT projects. Check him out on the Web3 Breakdowns podcast from this week.
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