Welcome again to Chain Response.
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Annyeong, or hiya, pals! Whereas I’m sometimes based mostly in New York Metropolis, this week I’m reporting from Seoul, South Korea for Korea Blockchain Week.
The week has been jam-packed with numerous convention occasions in addition to offsite aspect occasions and networking joyful hours. I’ve listened to numerous panels surrounding subjects like web3 gaming, enterprise blockchain adoption (I moderated one), institutional adoption, regulatory local weather and investing in Asia.
I additionally saved busy with a bunch of interviews with native specialists in the marketplace evolving out east in addition to individuals who flew in to satisfy with startups based mostly within the area. This implies I’ll be placing out extra articles on TechCrunch based mostly on these conversations within the coming days and weeks…so hold an eye fixed out for that.
In the meantime, there was some information that transpired within the web3 world, so let’s get into it.
This week in web3
- Crypto funding in August wasn’t as good as the numbers may lead you to believe (TC+)
- Blockchain tech needs a ‘ChatGPT moment’ to scale enterprise adoption (TC+)
- MetaMask now allows crypto cash-out to PayPal and banks, but fees could be high
- Gleen’s tech-savvy chatbot for Discord and Slack attracts Solana founder in oversubscribed round
- The US can’t kill crypto: Real regulations are coming
The most recent pod
Earlier than all that, he was the co-founder and CEO of BitInstant, which was a bitcoin fee processor that began in 2011. Shortly after founding the corporate, he was charged with working an unlicensed money-transmitting enterprise, and for allegedly trying to launder over $1 million by the now defunct darkish net market Silk Street. He spent a little bit over a yr in a low-security jail consequently.
Now, Charlie is a vocal advocate for clearer crypto regulation, he’s a crypto investor, podcaster and even a film producer.
We mentioned how the bitcoin and crypto ecosystems have modified (and stayed the identical) over the previous decade in addition to how his incarceration formed his view on the business.
We additionally talked about:
- Want for regulatory readability within the U.S.
- Crypto initiatives and sectors he’s following
- How the bitcoin ecosystem is rising
- Recommendation for listeners
Observe the cash
- Story Protocol raised over $54 million in spherical led by a16z crypto
- Area title startup D3 World raised $5 million in a seed spherical led by Shima Capital
- Cross-chain communication protocol Socket raised $5 million from Coinbase Ventures and Frameworks
- Kotani gets $2 million pre-seed to assist African employees ship cash dwelling by way of crypto
- GenTwo raised $15 million in a Collection A funding spherical led by Point72 Ventures
This checklist was compiled with info from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.
- Our favorite startups from YC’s Summer 2023 Demo Day, Day 1 (TC+)
- Clubhouse is trying to make a comeback
- Tech companies are finding their profitability groove (TC+)
- Here’s why some investors are sitting out of YC Demo Day (TC+)
- EU confirms six (mostly US) tech giants are subject to Digital Markets Act
Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.