SBF Punished, Worldcoin Hit With Another Ban Order And Big Web3 Pre-Seed Rounds Return | Tech Crunch

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Welcome to TechCrunch Crypto, formerly known as Chain Reaction.

This is the final edition of this newsletter. I want to personally thank each of you for reading this, and if you want to stay in touch, you can follow me on X. Here For future updates.

The show goes on. This week, former FTX CEO Sam Bankman-Fried, who was convicted in November on seven counts of money laundering and fraud, was sentenced, Borderless Capital bought CFT Capital, Worldcoin faces yet another ban in Europe, and more.

Details below.

This week on Web3

  1. Sam Bankman-Fried gets 25 years in prison for fraud and money laundering at FTX
  2. Web3 investment firm Borderless Capital acquires CTF Capital to bring AI and quant expertise
  3. Worldcoin has been hit with yet another ban order in Europe, citing risks to children
  4. A new web3 network is currently being built that wants to end Big Tech's control over your data
  5. 0G Labs Launches $35M Pre-Seed to Build Modular AI Blockchain

Crunching numbers

Crypto market prices are slightly higher this week, with top cryptocurrencies in the green for the week.

Bitcoin is up 7.4% for the week, around $71,300 at the time of publication. The second-largest crypto, Ether, rose 2.6% on the week to $3,550, according to CoinMarketCap data. At the same time the total crypto market cap increased by 6.4% to $2.67 trillion.

A fresh pod

Chain Reaction is a monthly series diving into different topics and themes in crypto. This month we are focusing on blockchain and AI integrations.

For this week's episode, I interviewed Scott Dykstra, CTO and co-founder of Space and Time.

Prior to joining Web3, Scott spent nearly eight years at cloud analytics and data platform Teradata, where he served as Senior Architect, Director of Cloud Solutions, and worked his way up to the company's VP of Global Cloud.

In terms of space and time, the company aims to be a verifiable compute layer for Web3 that scales zero-knowledge proofs or ZK proofs in a decentralized data warehouse. Zero-knowledge proofs are a cryptographic operation used to prove something about a piece of data without revealing the underlying data.

Space and Time has indexed Ethereum, Bitcoin, Polygon, Sui, Avalanche, Sei and Aptos both off-chain and on-chain and is adding support for more chains to power the future of AI x blockchain.

This episode concludes Chain Reaction's monthly series on different topics and themes in crypto. This month focuses on blockchain and AI integrations.

Scott and I discuss the origin story of Space and Time, how data warehouses work in Web 2.0 vs. Web3, and the importance of data transparency.

We also get into:

  • The Potential of Blockchain and AI
  • Its OpenAI and blockchain data developments
  • Future use cases for data and on-chain AI
  • Advice throughout bull and bear markets

Subscribe A chain reaction Pi Apple Podcasts, Spotify or your favorite pod platform, and please leave us a review if you like what you hear!

Follow the money

  1. web3 Gaming-focused startup Illuvium raises $12 million in Series A round to expand its offerings
  2. Avalanche-based Gunzilla has raised $30 million to help launch its new game Off the Grid.
  3. OrdinalsBot Raises Over $3 Million to Build Its Bitcoin Blockchain-Focused Data Layer
  4. Raya Network Raises $10 Million for Its Trading-Centric Modular Layer-2 Blockchain
  5. Crypto-based online casino MyPrize has raised $13 million

This list was compiled with information from Messari and TechCrunch's own reporting.

What else are we writing?

Want to break away from the web3 world? Here are some stories about TechCrunch that caught our attention this week.

  1. Liquid Death is one of several VC-backed beverage startups poised to disrupt Coke and Pepsi.
  2. New study of unicorn entrepreneurs finds many are 'underdogs' and female entrepreneurs are on the rise
  3. Facebook snooped on users' Snapchat traffic in secret project, documents reveal
  4. Nvidia could become the next AWS
  5. New Summit raises $100 million in new funding to support climate tech and underrepresented fund managers

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