welcome back to Chain reaction.
This week I am writing the newsletter from the currently sunny and always beautiful city of Barcelona, Spain. I’m here for Avalanche Summit II, which is hosted by Ava Labs, the creator of the Layer 1 Avalanche blockchain.
Until now, there have been many discussions surrounding blockchain gaming, decentralized finance, and regulation.
Avalanche also announced a partnership with Alibaba Cloud, Alibaba Group’s digital technology and intelligence division, to implement metaverses for online marketplace customers. The news was covered exclusively by TechCrunch; more on that below.
I moderated two panels titled “Expert perspectives on the state of crypto markets” and “Stablecoins: the payment layer of the Internet.” He TL;RD The bottom line at this point is that market players are bullish on the long term and expect the cryptocurrency market capitalization to grow significantly in the near future (we’ll see) and the stablecoin industry has plenty of room to grow and the ability to grow. to shake the payment by Internet. space.
There are still more interviews to do, content to roll out, and panels to attend, so stay tuned for more on that here in the days and weeks ahead.
This week on web3
Alibaba Cloud joins forces with Avalanche to implement metaverses on the blockchain
Alibaba Cloud has partnered with Layer 1 blockchain Avalanche to provide Alibaba customers with a launch pad, Cloudverse, which aims to help businesses customize, launch and maintain their own on-chain metaverse spaces. of Avalanche blocks. “You and I can create a metaverse right now. In 15 minutes, the chain is up; within hours, the wallet is ready and the turnkey is ready,” said Emin Gün Sirer, founder and CEO of Ava Labs. The technology has been made “very easy” and all the tools are open source, he added. .
As the US Cracks Down on Cryptocurrencies, Hong Kong Gives a Warm Welcome
To create a favorable environment for web3 businesses, the city is facilitating communication between banks and cryptocurrency startups, many of which are scrambling to find alternatives following the collapse of Silvergate Bank. Tightening crypto regulations in the US may give Hong Kong a chance to step up and become the next crypto hub.
How Jack Dorsey’s Bitcoin Legal Defense Fund is fighting for the future of open source software
A crypto wallet theft lawsuit brought by a man claiming to be the creator of Bitcoin, Satoshi Nakamoto, could jeopardize the future of open source software development. That’s according to the Jack Dorsey-backed Bitcoin Legal Defense Fund, which is taking on a case to defend 11 Bitcoin developers named in a lawsuit brought by Craig Wright, an Australian computer scientist who rose to fame in 2016 with a claim hotly contested. him of being the founding father of Bitcoin.
Brett Harrison ‘never lost faith in business’ while at now-shuttered FTX (TC+)
It’s been almost six months since FTX collapsed, and a lot has happened since then, from the executives who were indicted to the companies in the industry facing the ripple effects of its demise. At Consensus 2023, Anthony Scaramucci, former White House director of communications and founder and managing partner of SkyBridge Capital, which invested in the exchange, and Brett Harrison, founder and CEO of Architect and former president of FTX.US, shared their experiences during the fall of FTX and what life has been like since then.
the last pod
For this week episode, jaquelyn interviewed jake chervinsky, the policy director of the Blockchain Association, a non-profit organization focused on promoting “pro-innovation” policy for the world of digital assets. He is also a board member of the DeFi educational fund and an advisor to the web3 early stage Variant fund.
Prior to his work with the Blockchain Association, Chervinsky began his legal career in private practice with a focus on compliance and anti-money laundering and corruption investigations, financial services litigation, and defense against government enforcement. He spends a lot of time in DC, testifying at hearings to help clarify the crypto industry in hopes of guiding it in the right direction.
We dive deep into conversations about all things regulation, from how Chervinsky views the current regulatory landscape to whether or not we’re in an era of “crackdown,” as people call it.
We also discuss:
- Change of mind of regulators
- american crypto companies
- Are cryptocurrencies commodities or securities?
- Stablecoin Legislation
- Future legal frameworks and guidelines
subscribe to Chain reaction in apple Podcast, Spotify or your favorite pod platform to keep up with the latest episodes, and please leave us a review if you like what you hear!
follow the money
- Hardware Crypto Wallet Provider Tangem AG raised $8 million
- TARIFF protocol raised $6.2 million in a seed round led by Goat Capital
- Understand Finance raised $4 million to support accounting and bookkeeping for blockchain activity
- nolus raised $2.5 million to build cross-chain DeFi leases
- OKX Ventures invested an undisclosed amount in Cetus Protocol
This list was compiled using information from Messari, as well as TechCrunch’s own reports.
To get a roundup of TechCrunch’s biggest and biggest crypto stories delivered to your inbox every Thursday at 12pm PT, subscribe here.
follow me on twitter @Jacqmelinek for breaking crypto news, memes and more.
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