decentralization
Japan’s gaming blockchain builder Oasys raises $20M in private token sale
Veterans from the established gaming world are flocking to web3. Whether they do it out of a fear of missing out or genuine belief in blockchain technologies, the trend appears…
Q2 losses were down from a massive $1.23 billion in Q1, which contained the $625 million Ronin Network hack.
With maiden $42M fund, Bonfire Union wants to invest in web3 like Tencent does in Web 2.0
Mask Network, a Binance-backed startup that enables users to send cryptocurrencies and encrypted messages on established internet platforms like Twitter, has an ambitious goal: to become the corporate venture capital…
Crypto gaming firm Cauldron raises $6.6M to build ‘Pixar of web3’
A number of crypto gaming firms have ramped up production in the past year with hopes of revolutionizing the growing industry. Adding to the list is London-based gaming firm Cauldron,…
Crypto trading volume drops in India as additional taxes hit investors
India on July 1 implemented a 1% tax on cryptocurrency trades over 10,000 Indian rupees, or about $127. There’s already been a chilling effect on Indian digital asset marketplaces.
FTX policy exec says its ‘priorities have not changed’ amid market madness
As the crypto markets continue to trend downward, the world’s second-largest crypto exchange, FTX, remains undeterred.
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Despite crypto ban, China’s tech talent rides the global web3 wave
Despite China’s sweeping bans on cryptocurrencies, domestic web3 talent is quietly flourishing, with many venturing beyond the country’s border. From offering crypto derivative products to making NFT games, Chinese web3 entrepreneurs’ footprint is far-reaching worldwide. We spoke to a dozen Chinese founders and investors to find out how this group is trying to build global…
Crypto mega hedge fund Three Arrows Capital reportedly files for bankruptcy in New York
Crypto hedge fund Three Arrows Capital (3AC) has filed for Chapter 15 bankruptcy in New York, according to a report in Bloomberg. The mega fund, founded by Credit Suisse traders…
OpenSea’s $13B valuation doesn’t make sense as NFT trading volumes plunge
The web3 faithful will note that the NFT market goes up and down, and as it is down today, it will go up again. That may be true, and it…
The future of non-fungible tokens is getting more clarity in China as the country’s tech giants come together to formulate standards for the nascent industry. The China Cultural Industry Association,…
North Korean Lazarus hackers linked to $100M Harmony bridge theft
Researchers have linked Lazarus Group, a notorious North Korean state-backed hacking group, to the theft of $100 million in crypto assets from Harmony’s Horizon Bridge. Last week, U.S. crypto startup…
Update (July 8, 12:15 PM IST): Opensea vendor consumer.io revealed today that customer data of five other companies were also compromised. While the firm didn’t name these clients, it said…
Welcome back to Chain Reaction. Last week, we talked about infinite pessimism in the crypto markets. This week, we’re talking about parties and tattoos and booze and fun. If you…
Hacker exploits Harmony blockchain bridge, loots $100M in crypto
A hacker has exploited a vulnerability to steal $100 million from Harmony’s Horizon Bridge, which allows users to transfer their crypto assets from one blockchain to another. Harmony, the U.S.…
Solana launches web3-focused smartphone Saga to improve crypto-mobile relationship
The co-founder and CEO of Solana, Anatoly Yakovenko, had a Steve Jobs moment when he stood in front of an auditorium in New York City and announced the launch of…
The past several months haven’t been entirely kind to the NFT market — while transaction volume hasn’t stuttered too significantly, the dollar amount invested in the space has been in…
Blockchain gaming unfazed by crypto volatility as gamers ‘seek out entertainment’
While the crypto industry was in free fall over the past few months, web3 games remained fairly stable.
A Cloudflare outage on Tuesday knocked out numerous popular web services, including major crypto exchanges FTX, Bitfinex and OKX, raising questions about the security of centralized crypto platforms. The CEO…
Iran’s relationship with the crypto mining sector is a love-hate one. The government is again restricting crypto mining activity as it tries to ease the strain on the country’s power…
Bitcoin falls below $20,000 and Ethereum sinks past $1,000 as crypto market free fall continues
The crypto market suffered one of its most dramatic selloffs in years this week as the prices of top cryptocurrencies declined as much as 35% week over week as fears…
The crypto gaming industry is continuing to grow in popularity as more capital is deployed in the space and traditional Web 2.0 gaming studios look to enter the web3 market.…
Dogecoin investor sues Elon Musk, Tesla and SpaceX for $258 billion
The crypto sell-off of the past several weeks has erased hundreds of billions of dollars in paper gains and is leaving plenty of had-been crypto millionaires looking for something else…
Southeast Asia, a diverse region with an expanding population and rising income, is emerging as a popular destination for crypto entrepreneurs and investors hunting down high-growth startups in the space.…
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As Celsius accelerates the crypto sell-off, who pays the price?
Many market participants indicated Celsius may be a riskier firm than many originally believed it to be, with some pointing toward a lack of confidence in its operations.
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Jay-Z and Jack Dorsey launched a Bitcoin academy in a public housing complex
Twitter co-founder and Block CEO Jack Dorsey is teaming up with artist Jay-Z (Shawn Carter) to launch The Bitcoin Academy at Marcy Houses, the public housing complex in Brooklyn, New York where Jay-Z grew up. The initiative aims to provide financial education with an emphasis on Bitcoin as a path to financial freedom, featuring free…
Proposed bipartisan US crypto bill could be ‘sigh of relief’ for the industry
“The bill matters as it is a step in the right direction for legislation and definition of ‘crypto,’ what a ‘crypto asset’ is and what regulation will look like,” said…
Meet the trans, anarchist founder who just landed $25M to reform how crypto is stored
Tux Pacific isn’t your average tech founder. They’re a self-taught cryptographer who dropped out of college, a proud member of and advocate for the transgender community and a self-described anti-capitalist…
Solana launches $100M investment and grant fund for South Korean web3 startups
Solana Ventures and Solana Foundation have set up a $100 million investment and grant fund to deploy capital into South Korean web3 startups.
Three-quarters of Asia’s wealthy investors will own digital assets by 2022
Seventy-three percent of “affluent” investors in Asia intend to hold some form of digital assets by the end of 2022, according to a new report from consulting firm Accenture. It’s…
