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welcome to Chain reaction.
It seems like just yesterday we started the new year, but as we enter February, everything seems to be (for once) relaxing a bit in the crypto world.
The last month has been filled with conversations about staff layoffs by crypto companies, progress on existing and new Chapter 11 bankruptcies in the space, partnerships and the potential for recovery in 2023.
Despite the industry being flooded with bad news, some cryptocurrencies recorded a bull run in January amid market turmoil.
Bitcoin rose 40% in the same month, while Ethereum rose about 32% over the same period. Solana also recovered from around $10 at the start of the year to near its lowest level since February 2021, and by the end of January he was up 146% to around $24.3, CoinMarketCap data shows. I was.
These market moves could inspire more retail and institutional investors alike to dive in.
web3 of the week
Did You Lose Your Cryptocurrency During Your Chapter 11 Bankruptcy Filing? You Probably Didn’t Get It Back (TC+)
With Chapter 11 bankruptcy proceedings underway with several high-profile cryptocurrency companies, those who have lost money are sure to want all, or at least some, of their money back. The house shared its thoughts with TechCrunch on what these cases mean for creditors, and what happens to people who see their money disappear overnight.
Last year saw a surge in VC funding to black web3 founders, bucking the trend (TC+)
Black people who have invested in crypto have been hit unfairly hard in the recent crypto winter, but many Black founders and investors we spoke to believe the sector’s potential for communities and society at large. Optimistic about sex. If anything, they told TechCrunch they needed an economic adjustment last year. Her Simone Berry, co-founder of People of Crypto, said: “It was not sustainable and needed an economic fix.
Solare Partners with Premier League on NFT Fantasy Football Game
French startup Sorare has signed a four-year licensing partnership with the Premier League. The deal is an important move for the company as the English football league is one of the world’s most watched sports leagues. For sports fans who don’t particularly enjoy soccer (or soccer as Europeans call it), Solare has teamed with the NBA and MLB over the past few months.
Bitcoin-Based App Strike Expands in Philippines to Expand Cross-Border Payment Solutions
Strike, a Bitcoin-based payment network and financial app, is expanding to the Philippines to grow the cross-border payments and remittances market. Besides the Philippines, Strike also plans to expand further in Latin America and Africa due to “huge demand”, CEO Jack Mallers said. In general, the company’s partnerships and announcements show its focus on growing the remittance market through applications and other alternatives like Clover.
Enterprise blockchain adoption could grow as hybrid use cases evolve (TC+)
According to Daniela Barbosa, executive director of the Hyperledger Foundation, while the cryptocurrency market remains volatile, enterprise blockchain adoption continues to grow as businesses find new use cases for the technology. She shared that one of the biggest demands in the last two years has been for “hybrid use cases,” and that the technology will serve small businesses as well as large enterprises.
latest pod
ICYMI: In last week’s episode, Jacquelyn spoke with Mo Shaikh, co-founder and CEO of Layer 1 blockchain Aptos. Shaikh is a three time founder with over 10 years of experience in financial services, blockchain technology and cryptocurrencies. He has also worked on blockchain strategic partnerships with Facebook wallet He Novi and was also the strategy director at ConsenSys.
“When I thought about Aptos, I knew that people needed a new way to share information digitally, and to share that information and its economic value digitally in a more efficient and fair way,” Sheikh said. said on the podcast. “That’s our mission.”
Last year was a very big year for Aptos. Amid the bear market, blockchain went public and raised about $400 million. The new Layer 1 was backed by major investors including Andreessen Horowitz, Circle Ventures and his now-defunct FTX Ventures. According to CoinMarketCap data, his APT for its token rose 380% in January, even though the market was down.
Looking forward to 2023, Aptos plans to make it the “year of intentions,” Sheikh said. “I think this year will be an exciting year for the industry as a whole.”
We also discussed:
- What is a bear market launch?
- builder on blockchain
- Business development plan for 2023
- onboarding people No in space
- The future of interoperability and the multi-chain world
apply Chain reaction upon apple podcast, Spotify Or check out the latest episodes on your favorite pod platform. If you like it, please leave us a review!
follow the money
- Haun Ventures Leads Sovereign Labs’ $7.4M Seed Round to Help Scale Blockchain
- Crypto security startup Hypernative has raised $9 million to prevent web3 cyberattacks.
- BlockJoy Raises $12 Million to Reduce Operating Costs for Companies Running Blockchain Nodes
- Web3 marketing startup Addressable raises $7.5M seed round
- Everscale raises $5 million to help scale blockchain
This list is compiled with information from Messari and TechCrunch’s own reports.
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