WTF went on in Web3 last week 🤯

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 😅 

• It’s FED week 🏦 

• M&A Monday 🤝 

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What happened in Crypto Last Week 😅 

Last week was packed with notable developments across the crypto space, impacting markets, regulations, and innovations:

• Market Movements: Bitcoin started the week below $55,000, contributing to the biggest crypto fund outflows since March. Investor sentiment has shifted, and the market correction raised some eyebrows but recovered about $60K throughout the week. 📉📈 

• Regulatory Focus: The SEC intensified its scrutiny, amending its complaint against Binance to focus more on token listing processes, signaling ongoing regulatory pressure on major exchanges. 🏦 

• FBI announced $5.6B was lost due to crypto fraud in 2023

• Political Spotlight: Cryptocurrency continues to be in the U.S. presidential election conversation. With Trump teasing a new crypto venture, digital assets may soon be a key part of political campaigns and potentially future policy. 🇺🇸 

• Stock Market returns to glory? 🫣 

What to Watch This Week 👀 

It’s Fed Week! Get ready for a busy schedule with critical economic data releases and market-moving decisions:

• Wednesday, Sept 18: The Federal Reserve is set to announce its interest rate decision, with speculation now swirling about a 50 basis point rate cut—a sudden change after the Wall Street Journal published a piece urging lower rates. The Fed Press Conference follows shortly after, so brace for potential market reactions Wednesday.

• Other Key US Macro Data this week:

  • August Retail Sales (Tuesday)

  • August Building Permits (Wednesday)

  • Philly Fed Manufacturing Index (Thursday)

  • August Existing Home Sales (Thursday)

These releases, coupled with the Fed’s interest rate decision, will shape market sentiment for the week. Keep a close eye on how macro factors might influence crypto prices.

M&A Monday 🤝 

Web3 is flourishing with deal flow and we know how important it is to keep up with the scene. 🎬️ 

So each Monday we will be recapping any mergers or acquisitions in the space over the last 7 days.

Fridays edition will feature new rounds being raised and we will keep the M&A to Mondays. 🗓️ 

Two big acquisition deals happened in last 7 days:

1. Vektor joins Nirvana Labs to boost multichain functionality for Web3 cloud services. Nirvana Labs is aiming to improve infrastructure across the blockchain world by integrating Vektor’s tech. The acquisition means Vektor is officially in the multichain game.

2. Stakewithus is now part of Nansen.ai, combining staking services with advanced crypto analytics. This acquisition promises seamless staking across over 20 blockchains, with deeper insights for users. Stakewithus assured users that no changes will impact their current services, making this a straightforward expansion for both companies.

MEME CITY 🏙️ 

Until Wednesday Builders! 🏗️ 

Keep grinding and stay ahead of the curve. 🪝