Welcome again to Chain Response.
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This week was a busy one for crypto (per normal) with the SEC, PayPal, Coinbase and Microsoft main the headlines. Let’s get into it.
This week in web3
The SEC stated in a courtroom submitting on Wednesday that it could file an “interlocutory attraction” for the federal courtroom ruling on Ripple and the XRP token final month. Learn extra.
Synthetic intelligence has captured the hearts, minds and wallets of the expertise business. So it’s little shock that Microsoft, which has a number of irons within the AI hearth, is working to broaden its footprint within the space. On Wednesday, the corporate introduced that it’s partnering with layer-1 blockchain Aptos Labs to work on AI and web3. Particulars right here.
PayPal is rolling out a stablecoin for funds and transfers. Sure, you learn that proper. Discover out what meaning for customers and the normal cost world right here.
Will the Regulation Fee’s digital belongings remaining report make the UK a DeFi jurisdiction of selection?
Coinbase reported its second-quarter earnings Thursday afternoon after the bell, beating market estimates. We dove into what it means for the corporate, so that you don’t should.
Beacon, an early-stage web3 accelerator program, held its demo day on Wednesday throughout which the groups homed in on infrastructure, gaming, decentralized social media and DeFi, held its second cohort commencement on Wednesday. Study extra right here.
The most recent pod
For this week’s episode, Jacquelyn interviewed Robbie Ferguson, co-founder and president of Immutable.
Immutable is a web3 firm consisting of two entities: Immutable Platform, a developer platform for constructing and scaling Ethereum-based web3 video games, and Immutable Video games, a web3 sport developer and writer. Some conventional gaming studios and IP holders are additionally constructing on its platform like GameStop, TikTok, Illuvium and NFT market OpenSea, to call just a few.
In March 2022, Immutable raised $200 million at a $2.5 billion valuation and final June it launched a $500 million developer and enterprise funding fund, which TechCrunch coated solely.
We mentioned the web3 gaming market and the way it’s grown previously 12 months and the place it’s going sooner or later.
We additionally talked about:
Creating worth in video games
Cell gaming vs web3 gaming
International adoption
Recommendation for builders
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Observe the cash
Spearbit raises $7M to enhance safety audits in crypto by its open market
Cube3.AI raised $8.2M in a seed spherical to enhance web3 safety
SphereX additionally raised $8.2M to enhance sensible contract safety
Orbital raised $6.4M for to supply crypto options for conventional finance
Institutional decentralized change D8X raised $1.5M in a pre-seed spherical
This listing was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Right here’s some articles on TechCrunch that caught our consideration this week.
Fearless Fund responds to racial discrimination lawsuit
So your startup’s runway is dwindling and fundraising is tough. What’s subsequent?
Researchers watched 100 hours of hackers hacking honeypot computer systems
Think about for a second that you simply’re an AI
6 startup founders gaze right into a future-of-work crystal ball