Welcome again to Chain Reaction.
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Hello, frens and cheers to the tip of September!
We’re recovering from Disrupt 2023 and gearing up for the extremely anticipated Sam Bankman-Fried trial, which begins on October 3. Keep an eye fixed out for tons of protection from us because it all unravels over a six-week interval to find out whether or not the 31-year-old former CEO of FTX is responsible on seven counts of fraud and conspiracy. More to come back.
As for different information, it’s been an attention-grabbing and considerably slower week for the crypto group.
But, black hat hackers struck the trade, but once more. On Sunday, Hong Kong-based crypto firm Mixin misplaced round $200 million to hackers in a breach. The hack on Mixin is the largest theft within the crypto world in 2023, based on information maintained by Rekt. What was the second largest hack, you’re questioning? I can’t give all the things away, so go learn the story under.
This week in web3
- Worldcoin doubles down on rising markets amid wider criticism (TC+)
- Hackers steal $200M from crypto firm Mixin
- Yuga Labs safety researcher warns of chilling impact after feds search telephone at airport
- Telegram begins to appear to be a brilliant app, echoing WeChat
- Why Solana, Polygon and Aptos anticipate the enterprise to drive mass adoption (TC+)
- Katie Haun believes now is an effective time to put money into crypto
- Chris Lehane: The SEC isn’t dealing with crypto regulation ‘strategically’ (TC+)
- Akowe needs to repair Africa’s damaged certificates system with blockchain
The newest pod
For this week’s episode, Jacquelyn interviewed Tiago Sada, head of product for Tools for Humanity and core contributor to Worldcoin, at Ztoog’s Disrupt 2023 in San Francisco.
Tools for Humanity, which is the group constructing Worldcoin, raised $115 million in a Series C spherical again in May with traders like Blockchain Capital, a16z, Bain Capital Crypto and Distributed Global. In March 2022, Worldcoin raised $100 million at a $3 billion valuation.
The venture was co-founded by OpenAI CEO Sam Altman with a three-part mission to create a world ID, a world forex and an app that allows funds, purchases and transfers with its token.
Worldcoin has been on a world tour since April, hitting main cities like Tokyo, Miami, New York City and San Francisco. It has additionally arrange store in main cities in international locations like Kenya, India and China.
We dive into why somebody would scan their eyes, alternate choices and privateness considerations some skeptics have concerning the venture.
We additionally talked about:
- The international adoption of Worldcoin
- Kenya “indefinitely” pausing Worldcoin iris scans
- The venture’s largest challenges for development
- How AI can match into Worldcoin
- Future alternatives and roadmaps
Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please go away us a overview if you happen to like what you hear!
Follow the cash
- On-chain leverage buying and selling platform Avantis Labs raises $4 million seed spherical led by Pantera Capital
- Privacy-centric blockchain Fhenix raises $7 million in spherical led by Multicoin Capital
- Web3 dev platform Alchemy acquired blockchain indexing platform Satsuma
- Bitmain will make investments $54 million in now-bankrupt bitcoin mining agency Core Scientific
This listing was compiled with info from Messari in addition to Ztoog’s personal reporting.
What else we’re writing
Want to department out from the world of web3? Here are some articles on Ztoog that caught our consideration this week.
- Bootstrapping is cool as soon as once more (TC+)
- The present labor market is a gold mine of expertise for startups (TC+)
- What’s one of the best ways to run a startup in a world full of recommendation? (TC+)
- This startup needs to confirm your ID with out storing your private information
- Was tech’s ‘bull run’ merely a brief surge? (TC+)
Follow me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.