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WTF happened in Web3 last week 🧐
Bonus: M&A Monday 🤝
GM Builders. 🚧
Welcome back to a fresh Monday edition of the BW3 newsletter, an edition so key you should call it Jerome Powell’s vocal cords. 🗣️
Here’s whats in the cement mixer today:
What happened in Crypto Last Week 🧐
What to watch for 👀
M&A Monday 🤝
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WTF WENT ON IN WEB3 LAST WEEK 🧐
GM Builders! Buckle up, because last week in Web3 was nothing short of eventful.
From gaming partnerships to FBI raids, here's a quick roundup of what went down:
Gaming Developments 🎮
SunSpear Games announced a major partnership with Immutable to bring Web3 elements into their popular game, Immortal: Gates of Pyre. The focus? Giving players real asset ownership in-game—another sign of how blockchain continues to reshape the gaming industry. Say goodbye to pixels you don't own, and hello to digital assets you actually control.Security and Legal Actions 🚔
The FBI raided an illegal crypto gambling network based out of New Jersey, putting a spotlight on the ongoing issues of unregulated gambling in the crypto world. This raid is a reminder that while crypto opens up new possibilities, it also comes with its share of legal challenges, and law enforcement isn't sitting on the sidelines.High-Profile Meetings 🏛️
President Bukele of El Salvador sat down with Elon Musk last week. The two reportedly discussed the future of AI and crypto, and while the specifics remain under wraps, the meeting is a big deal for integration conversations at the highest levels of government and corporate influence. Could there be something major on the horizon? Time will tell!Security Breaches 🔒
In a rather concerning incident, the Indian Supreme Court’s YouTube channel was hacked and used to promote crypto-related content. The breach shines a light on the continued security risks within the digital asset space—reminding everyone that even the highest institutions aren’t immune to cyber threats.
That’s the TL;DR of last week in Web3—games are evolving, markets are shifting, and security issues are still front and center. But hey, if it was easy, it wouldn’t be Web3, right? 👾
WHAT TO WATCH THIS WEEK 👀
Token Unlocks Incoming 💰
We’re looking at a solid $102M worth of token unlocks in the next 7 days.
These are the top 3 projects to watch:
$VENOM: Unlocking $25.16M on Wednesday, which represents 12.7% of its circulating supply.
$YGG: Unlocking $6.69M on Friday, about 3.7% of its circulating supply.
$OP: A major unlock of $52.97M (around 2.6% of its circulating supply) set for next Monday.
Regulatory and Institutional Moves 🏛️
This week, all eyes are on SEC testimonies. SEC Chair Gary Gensler and other commissioners will be testifying at the Financial Committee and Senate Banking hearings. Pay attention to these hearings as they could stir up market reactions depending on any new regulatory announcements or stances.
Market Analysis and Trends 📈
Post-Fed Rally: With last week’s Federal Reserve rate cut, keep an eye on Ether and meme coins. We’ve seen a surge, and it’ll be key to watch if it continues or stabilizes this week.
AI and Crypto Integration: Tokens like $TAO and projects within the Bittensor ecosystem are gaining momentum. As AI meets blockchain, these projects are worth watching for both innovation and potential price movements.
This week is shaping up to be big with a mix of token unlocks, regulatory events, and evolving market trends. Stay tuned, Builders! 🚀
M&A MONDAY 🤝
Another week, another batch of mergers and acquisitions in the Web3 world! Here’s what went down in the M&A space this week:
SolanaFM
What they do: A data and analytics provider within the Solana ecosystem, offering services that help users access on-chain data more effectively.
Acquisition Details: Jupiter has acquired SolanaFM, further strengthening their analytics services on Solana.
Why it matters: This acquisition reinforces Solana’s growing infrastructure as Jupiter expands its capabilities in the ecosystem. Expect more detailed data tools for Solana users and developers.
Coinhall
What they do: An analytics and data service platform with trading solutions, providing valuable insights into on-chain data.
Acquisition Details: Also acquired by Jupiter, Coinhall specializes in offering data services for traders, making this a strategic move to enhance trading and analytics tools.
Why it matters: This acquisition will allow Jupiter to offer comprehensive trading and analytics capabilities, bridging the gap between data and actionable trading insights.
Nametag
What they do: A cross-chain identity platform operating within the Arbitrum, Ethereum, and Solana ecosystems, focusing on providing decentralized identity solutions.
Acquisition Details: Mask acquired Nametag, further integrating identity and infrastructure services across major blockchain ecosystems.
Why it matters: As identity becomes an increasingly crucial part of decentralized applications, this acquisition positions Mask to lead in the growing field of cross-chain decentralized identity services.
These mergers are a testament to the ongoing consolidation in the Web3 world, with companies focusing on scaling their infrastructure, trading services, and identity solutions.
Keep an eye on these projects as they continue to drive innovation and interoperability in their respective ecosystems. 👀
MEME CITY 🏙️
Uptober
Bullvember
Pumpcember
JanMoonaryNot financial advisor
— naiive (@naiivememe)
8:19 AM • Sep 23, 2024
Your cautious investment portfolio leaving the body as the fed cuts rates
— Varun Khurana (@varunkhurana99)
7:11 PM • Sep 19, 2024
Until Wednesday Builders! 🏗️
Keep grinding and stay ahead of the curve. 🪝