RUIN: Money, Ego and Deception at FTX

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Is there ever a weekend where there are no worthy headlines in web3, crypto, blockchain, & DeFi? No - and that’s why we exist 😎 Make sure to share this newsletter with people that want to BUIDL an amazing community.

Bloomberg Originals released a documentary on the FTX collapse; Binance and Tether are under fire from lawmakers; Gemini is suing Genesis; Scammers are taking advantage of the Bitcion ETF hype; LastPass is loses more money in breach. Check out all the headlines below👇🏼

• BTC supply on exchanges hits 5 year low (CD)

• Email phishing campaign targeting Trezor users (MR)

• Genesis was sued by Gemini for $1.6M worth of BTC Trust Shares (BBG)

• Binance founder CZ loses $12B on crypto trading slump (Y)

• Tether and Binance are being investigated for criminal charges by the DOJ (WGURU)

• Blockchain Capital officially closes 2 Funds at $580M to target crypto gaming and web3 (CPOL)

• Moonveil Entertainment raised a $5.4M Seed round from Gumi Cryptos Capital, Arcane Groups, and others for their web3 gaming studio (CREP)

• Solana Labs is launching a startup incubator to attract more developers to its blockchain (TB)

• CoinTelegraph Accelerator launches second cohort of startups in web3, gaming, DeFi, and more (CT)

• Where does current web3 investment reside? (F)

• Crypto, Blockchain, and Web3 VC investments Q3 ‘23 (GLXY)

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• Crypto is not responsible for all the Terrorism funding (M)

• Craig Wright wins US appeal in $1B BTC disupte (M)

• UK Bill for seizing illicit crypto becomes law (CD)

• UK confirms plans of formal legislation around crypto (CNBC)

• Australia proposes crypto industry licensing regime (S)

• Taiwan introduces crypto bill to parliament (CT)

• NBX 2023 in Berlin is the forefront of upcoming European web3 innovation and regulation (YF)

• LastPass breach hit with another $4.4M stolen, totaling $35M since September 2022 (CT)

• No audits conducted on 85% of crypto projects that rug pulled (CT)

• Digital Pound receives feedback, security being the biggest (M)

• Senior Lightning Network Dev quits over chain concerns (P)

• Scammers utilize hype around Bitcoin ETFs to exploit investors with fake IBTC token (CN)

• Crypto hacker hit with 30-month sentence for SIM Swap fraud (CN)

• ETH Devs confrim Dencun Upgrade will not happen this year (BW)

• Ebay is looking for a Solidity Engineer (J)

• ETH Dencun Upgrade and its plans towards scalable settlement (M)

• The Dencun Upgrade is a step forward for utility in the eyes of Goldman Sachs (CD)

• Neo plans for sidechain to be compatible with Ethereum (BLOCK)

• Circle launches USDC transfers to Base (X)

• Former Ripple CTO to restore 7K BTC wallet (U)

• JPM Coin payment system handles $1B in daily transactions (TB)

• UpBit is the leading exchange in Korea, by far (CMC)

• Former G20 Venture Partner moves to Solana Foundation to lead institutional growth team (Nick Ducoff)

• Coins/Tokens are being delisted from exchanges at record rates 🪓

• Bloomberg drops an original documentary on FTX (BBG)

• Scaling Blockchains: The Modularity Thesis (GLXY)

• How much crypto do Millenials and Gen Z own? (CB)

• Frens Syndicate: The future model of web3 investing (DJ)

• How will web3 effect retail (F)

• 3 unique ways hackers are stealing crypto (CT)

• 2023 Crypto Industry Updated Report (CG)

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