Here are the top web3 stories from this week.
Legal
Regulatory Headlines Return
⚖️ Coinbase files response with court on SEC lawsuit. FTX halts the sale of their $500MM stake in AI startup Anthropic. Trader Michael Ackerman was hit with a $54MM fine for a crypto trading scam, and the CFTC brought charges against William Ichioka for a $21MM scam involving crypto and commodities. Swiss authorities froze $26MM of assets from Terra founder Do Kwon. Crypto custodian Prime Trust was forced to stop operating by their Nevada regulator. Chibi Finance reportedly runs away with $1MM of customer cash.
Capital Raised
Another Light Funding Week in Web3
💰 Mythical Games get $37MM for web3 sports and entertainment games. Bitpanda’s crypto exchange was spun out and raised $33MM funding. DeFi startup Maverick Protocol adds $9MM. Additionally, Riot Platforms, a Crypto miner, committed to purchase $160MM of new computer rigs.
Products
More Attempts at a Bitcoin ETF
💸 WisdomTree and Invesco are also applying for a Bitcoin ETF, following last week’s move by Blackrock. Warner Music and Polygon announced a new music blockchain program. Sports NFT leader Candy Digital merges with Palm NFT Studio and confirms layoffs.
Content
VaynerSports Gaming Leader Discusses Web3
🎙️ Darren Glover, VP of Gaming at talent management agency VaynerSports, sat down with media outlet Decrypt to discuss web3 gaming. He has advice for game developers and content creators in the space, with an emphasis on focusing on the game play and leaving the technology behind the scenes.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Hello Alice announced their $70MM Equitable Access Fund. Black-led Fearless Fund received significant new investments from Bank of America, Costco, and MasterCard. Atlanta nonprofit Goodie Nation received a $100K grant from Google to support diverse founders. The Black Ambition competition announced this year’s semifinalist startups. Spotlight articles on Latinx-led Atlanta Hawks Ventures and startup Highlights App. And check out blockchain ticketing for the Free The Vault hip hop concert in Atlanta on July 21st.
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