Here are the top web3 stories from this week.
Legal
U.S. Government Comes for Binance, Do Kwon Arrested
⚖️ The CFTC charged Binance and their leader CZ with violating trading and derivatives rules. A U.S. judge put a hold on Binance’s purchase of the bankrupt lender Voyager to give the government more time to challenge the sale. Terra founder Do Kwon has been on the run for months, and he was finally arrested in Montenegro. The SEC charged Chicago Crypto Capital for illegal sale of their BXY token. On the positive side, the Euler hacker returned over $100MM in stolen Crypto.
Capital Raised
Light Funding Week in Web3
💰 EigenLayer gets $50MM for staking protocol. Fetch.ai raises $40MM for Crypto protocol for machine learning. Hydra Ventures closes $10MM for DAO fund of funds. Radix Layer-1 sells $10MM of tokens.
Products
NASDAQ Diving Into Crypto Custody
🚀 The NASDAQ stock exchange will begin to offer institutional clients custody services on Crypto in the second quarter of this year. A report from DappRadar detailed that sale of virtual land soared in Q1 2023 with $311MM in transactions. This was led by Yuga Labs’ Otherside and MG Land.
Content
Keith Wilson on Diverse Web3 Builders
🎙️ I launched a new interview series called Diverse Web3 Builders. Our first guest was Keith Wilson, the founder of Klearcoat Labs. They are using the cultural role of cars as a bridge to introduce, educate, and integrate society and the automotive industry into Web3.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 The Truist Foundation supports Emory with $1MM grant for new accelerator program. We announced the launch of the membership pass sale for W3 Studio. Support diverse founders in Atlanta buy purchasing a pass today. Check out our list of pitch competitions, grant programs, and other founder resources here.
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