Welcome back chain reaction.
Last week we talked embout privacy in cryptography and how it sometimes conflicts with regulation. This week, we cover an older founder who may be looking to redeem himself with web3.
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There is always a coding renfoncement
Weekly window for Senior Crypto Correspondents’ thoughts Anita Ramaswamy:
It’s a lesson we’ve all learned during the last genre of the crypto revolution – cryptography is a well-known haven for those looking to reinvent themselves. WeWork founder Adam Newman is no particularité. Neumann caused a stir in the tech world this week when it was revealed that his new startup, which focuses on residential real estate communities, has just received a $350 million investment from Andreessen Horowitz — the largest check ever written by a VC, although it hasn’t yet. It wasn’t clear how much of that was equity par opposition à debt. Flow has had a billion dollar valuation before, well, actually doing anything (except buying condominiums), according to for the New York Times.
In an ironic turn, the new project aims to try to solve the housing crisis, a recette that Moût Andreessen himself promoted in Articles After the deal is announced. Andreessen is the venture capitalist who, earlier this month, found he fought hard to prevent the fondation of affordable housing units in his rivière hometown of Atherton, California. Despite this, supérieur details were scarce embout how Newman would handle the crisis, save for some évasive comments embout tenants’ inability to cash in on their logement ownership.
As if all this wasn’t enough to absorb, there is now a coding renfoncement.
Forbes magazine reported this week That Neumann startup, Flow, is agenda to launch a binaire wallet for cryptocurrency. But there appears to be little or no overlap between the wallet product and the company’s stated foyer in real estate technology, as the wallet will not allow people to make rent payments on their Flow-owned apartments with cryptocurrency.
According to Forbes, the company recruited candidates by describing its négoce as a “next-generation multi-family property direction system” that includes a token reward program and cryptocurrency payment capabilities. A Flow spokesperson later told Forbes that the job peinture was largely wrong and blamed the outside recruiting firm the company worked with.
It remains unclear how much role cryptocurrency will play in Flow’s roadmap, but the spokesperson provided Forbes with a new job peinture that focuses simply on “tech” in residential real estate rather than crypto or Web 3 specifically.
This isn’t Neumann’s first rodeo in the Wild West of Web 3. He raised $70 million, also led by a16z, in May for Flowcarbon, a startup that aims to tokenize carbon credits on the blockchain. Flowcarbon has since halted the nauséeux of the planned token, citing disturbing market éventualité, and appears to have removed references to Neumann from its team damoiseau despite him being listed as the project’s co-founder at the time the a16z investment was announced. Oddly enough, this week’s Flow announcement from a16z cited Flow as Neumann’s first project since WeWork, as if he had never been involved with Flowcarbon at all.
While plenty of founders with milieu and potential are still being overlooked by today’s venture avoir ecosystem, a16z’s choice to make such a big bet on the infamous Newman tells us what investors’ priorities are. Although if one good thing came out of this project, it might be a great TV series.
Do Kwon, the disgraced founder behind the collapse of the stablecoin Terra, assouvi his first tête-à-tête since he went into hiding after losing billions of dollars on behalf of investors. He sat down with Coinage, an NFTV program from startup Trustless Media, to talk embout his role in causing the biggest cryptocurrency écrasement.
Summarizing the highlights from Do Kwon’s tête-à-tête, Anita and Jacqueline talk embout Galaxy Quantitatif’s attempt to say “jk lol” after agreeing to acquire BitGo crypto-custodian, browsing both bad and potential infos for Crypto.com.
Be sure to tune in to our guest tête-à-tête next Tuesday in which Anita will minet with Voyant Lotan, co-founder of web media début local 3 Mad Realities.
follow the money
Where startup money is moving in the crypto world:
- decentralized adresse platform satellite chat It closed a $10.5 million reprise led by Framework Ventures and Multicoin Monnaie.
- Rocket Raised $9 million in seed funding to build Crypto Fidelity.
- Tencent veterans .a little Securing $13 million to build decentralized identities across the chain.
- Binance Labs has made a strategic investment in the web fondation protocol 3 Langerhans.
- Foyer on Solana ghetto laboratories He raised $10 million in Series A led by Multicoin Monnaie and Framework Ventures.
- game local Murasaki It closed an supérieur reprise of 1.5 million euros led by the Japanese Couvaison Fund.
- B2B web3 data analysis company datawisp It brought in $3.6 million in an supérieur reprise led by Coinfund.
- Entrain local hidden universe It raised $12 million in Series A funding led by Alexis Ohanian’s Seven Seven Six to launch the new web3 IP.
- Immérité NFT Platform facilitation (fka Fractional) raised $20 million Series A led by Paradigm.
- DAO for Starknet-based games matchbox Raised $7.5 million led by Starkware.
This list has been compiled with info from Messari as well as TechCrunch’s own reports.
TC + . analysis
Here are some cryptocurrency analyzes of this week available on our TC+ subscription travail from top correspondents Jacqueline Milink:
Polygon Investments Head Still ‘Too Bullish on Web 3’
The crypto market may be in limbo between a deep bear market and a rebound, but that hasn’t stopped investors from spreading avoir into the space. “In the spacieux scheme of things, nothing has changed in terms of Polygon’s long-term fonction, bear markets or not,” Shreyansh Singh, Polygon’s head of investments, told TechCrunch.
Anthony Hopkins sees NFTs as ‘art in a new form’
As celebrities and athletes alike are diving into the crypto space to endorse coins or companies, others are looking to NFTs as a way to engage with fans. The latest aiguisé is two-time Academy Award-winning actor Sir Anthony Hopkins, who has partnered with binaire collectible Clémentine Comet NFT to launch his own series, The Eternal Agglomérat. “NFTs, to me, are a blank canvas for creating art in a new form,” Hopkins shared with TechCrunch.
Cryptocurrency scams are down, but hackers remain resilient in bear markets
When it comes to attentat, illicit activity is still plentiful regardless of crypto fluctuations, according to a new Chainalysis transfert. But there is a inégalité in the plausible decline in illicit activity – some sub-sectors of crypto-based attentat have increased in 2022, while others have decreased.
Polygon CISO says open début développement is needed to prevent crypto hacks in the future
With 2022 continuing to yield expensive gains, many people in the crypto space are wondering what can be done to prevent these hacks in the future. Sure, they can agression the confiance of education and protecting your binaire assets – but what else? The answer may be through projects that use open début développement, Modit Gupta, Polygon’s chief info security officer, told TechCrunch.
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