Web3 Funding Activity Makes The Market Outlook Extremely Bullish

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gm Scrollers,

We hope all of our American readers enjoyed your Memorial Day Weekend and remembered those who have served the country. Enjoy your midweek update! with news from this past weekend as well 👇🏼 Just look at how much startup and investment activity is happening in the space!!! 🐂

• Ledger pauses Ledger recovery rollout (DECRYPT)

• Gemini is putting its European HQ in Dublin Ireland (CT)

• Mercedes Benz launches web3 platform Mercedes Benz NXT (MB)

• Mining difficulty passes 50 trillion (CT)

• MoonPay insiders secretly took $150M before CEO purchased $38M mansion (BLOCK)

• QED closes on $925M to back startups globally (TC)

• FTX backer Tribe Capital aims for a new $100M crypto fund (CD)

• Cronos Labs launches cohort of $100M web3 accelerator (CT)

• Magic, a Wallet-as-a-Service (WaaS) startup, raised $52M from PayPal Ventures (TKNST)

• Spread Capital launches $40M Fund to back web3 startups (TP)

• CoinSwitch Ventures plans to invest in 100 new blockchain and web3 startups through 2024 with new $25M Fund (MC)

• OpenFinb secures $35M seried D round (TC)

• Transak closes $20M Series A for payment and onboarding platform from CE Innovation Capital (TFN)

• Tabi, an NFT Marketplace, secured $10M for a gaming ecosystem on BNB Chain (NFTG)

• Orbofi AI raises $2.8M for AI in web3 (TB)

• Proposed BTC mining tax dropped in debt ceiling deal (BW)

• Do Kwon bail was revoked (DECRYPT)

• Desantis is pro crypto in his presidential candidacy (CT)

• The issue with insuring crypto users (CT)

• Gemini and Genesis ask US Court to dismiss SEC lawsuit (CD)

• Anonymous BTC miner rakes in $1.7M in a day (CS)

• 4000 ETH compromised after DeFi exploit (CP)

• Tornado Cash DAO hacker gives control back to token holders (TB)

• Hong Kong is launching a project called CyberDefender (CT)

• PulseX bugs are blocking millions in earnings for liquidity providers (BiC)

• Fantom will pay back 15% of token fees to some projects (CD)

• ETH ICO wallet wakes up with $14.7M after 8 years (BITCOINIST)

• Roger Ver, the ‘Bitcoin Jesus’, says Ethereum is frontrunner for adoption (CT)

• Crypto Influencer receives $1M in ETH because of social experiment (BiC)

• F1 introduces NFT tickets for global racing (CD)

• Bejing releases white paper for web3 innovation + development (TB)

• StepN is selling NFTs on its app (DECRYPT)

• Tether to mine Bitcoin in Uruguay (TB)

• Temasek releases documents about FTX investment investigation (T)

• Brian Armstrong gives out some crypto use cases (@brian@armstrong)

• How AI is shaping shoppers recommendations (PYMNTS)

• Presidential Candidates and their stance on crypto (CT)

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