Here are the top web3 stories from this week.
Legal
Legal Troubles Roar Back in Crypto
⚖️ DeFi protocol Curve Finance was hit with a hack that lost holders at least $50MM. Also, a phishing attack netted $20MM in Tether stablecoin. The SEC charged the founder of Hex with a $1BN securities law violation. A NY federal judge ruled that some Crypto might be securities, in contrast to his bench mate’s Ripple ruling. Coinbase CEO Brian Armstrong revealed that the SEC instructed them to delist every token except Bitcoin, which they did not comply with. Lastly, a meme coin $BALD crashed this week and rumors are swirling that SBF might be behind this problem too.
Capital Raised
Major Blockchain M&A
💰 Ayre Group acquires a majority stake in nChain, a blockchain and web3 IP library company, for $570 Million. This might be the largest acquisition in the Crypto sector to date. Additionally, HashPort raised $8.5MM for blockchain developer tools.
Products
M&A in Metaverse Space
🐵 NFT leader Yuga Labs purchased Roar Studios to bring their AI gaming experience to their metaverse Otherworld and to the Bored Ape and extend IP.
Atlanta Web3 Expo
New Event and Founder Opportunity
🗓️ W3 Studio has partnered with other leading Atlanta web3 organizations (Atlanta Blockchain Center, 404 DAO and Solidity ATL) on the Atlanta Web3 Expo event taking place on September 28th. You can register free to attend here. Also, web3 founders can apply for our pitch event and expo here.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Check out Manuel Maccou, the founder of Mosaic Network, on the Diverse Web3 Builders podcast.
Atlanta Blockchain Center and W3 Studio have partnered for the next Immutable Founders Program. If you run a web3 startup here in Atlanta, please apply.
Our nonprofit W3 Studio is a 501c3 charitable organization. You can support us by donating or purchasing a digital membership pass here. Also, check out our list of pitch competitions, grant programs, and other founder resources here.
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