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Hello. Welcome to the TechCrunch Crypto Newsletter.
I hope you all “choose rich” this week. This may be the latest slogan adopted by the crypto community, thanks to Nifty Portal co-founder and CEO Nick O'Neill in a parody video on Friday. This is perhaps a more empowering message, as opposed to the long-standing cryptocurrency tagline that tells people to “enjoy being poor.”
Will this help bring more people into this space? Well, let's do a rain check to answer that question.
This week has been an eventful week for the world of cryptocurrencies. Bitcoin price hits new all-time high, Solana soars to early 2022 levels following surge in on-chain meme coins, Sei Institute creates new framework to back Ethereum, Nigeria World Coin is facing a heated battle in Spain as it faces off against Binance.
See below for details.
this week's web3
Solana price rises to $160, highest since January 2022 as meme coin mania grows Blockchain startup Seilabos develops interesting solution to speed up Ethereum Nigeria demands Binance to disclose top users, executives remain in custody WorldCoin fails injunction against Spain's privacy suspension and… WorldCoin suspends services in Spain after filing legal challenge for what it says is a temporary ban New all-time high of $2,700, but one indicator warns we're in 'extreme greed' territory NFT platform Zora offers new way for AI model makers to make money
process numbers
As mentioned above, Bitcoin once again hit an all-time high in the cryptocurrency industry this week. At the time of publication, the stock is up 8.5% for the week to $72,500 and up 40.4% for the month. Ether, the second-largest cryptocurrency, rose 3.8% this week to $3,900, according to data from CoinMarketCap. The market capitalization of cryptocurrencies increased by 8.3% during the same period to $2.75 trillion.
As the cryptocurrency market continues to expand, meme coins across the Ethereum, Solana, and Avalanche blockchains have seen significant gains.
Mogcoin, the self-proclaimed “culture coin” on Ethereum, has a market capitalization of $435.3 million, up 4% for the week. Solana's Dogwifat, modeled after a Shiba Inu wearing a knitted beanie, is up 79% in his seven days, and Avalanche's Coq Inu is up 36% in the same period.
It is important to remember that some meme coins maintain price support for long periods of time, while some meme coins can plummet within days or even hours. So, Daior.
latest pod
Chain Reaction runs a monthly series that delves into various topics and themes in cryptocurrencies. This month we will focus on the integration of blockchain and AI.
In this week's episode, we interview Melody Hildebrandt, CTO of Fox Corporation, and Mike Blank, COO of Polygon Labs.
Why these two companies? Now, Polygon Labs, a layer-2 blockchain focused on scaling Ethereum, and Fox Corporation, a prominent media conglomerate, partnered in January to tackle deepfakes as artificial intelligence becomes more popular. .
Fox releases Verify, an open source technology protocol for media companies to register content and grant usage rights to AI platforms, while also allowing consumers to verify content through Polygon's technology. .
Discuss the following:
Fox and Polygon partnership Prevent content abuse The role blockchain technology can play in verifying news How deepfakes will affect the 2024 US election
Subscribe to Chain Reaction on Apple Podcasts, Spotify, or your favorite pod platform for the latest episodes. If you like what you hear, please leave us a review.
follow the money
Former Web3 Games founders raise $2.5 million in NFT market to retain users even if 'not profitable' Netherlands-based institutional exchange D2X raises $10 million in Series A led by Point72 Ventures Web3 infrastructure provider Polyhedra Network raises $20M ClearToken raises $10M from institutional investors to improve regulated clearing infrastructure at $1B valuation UXLINK helps dApps grow $9 million raised for Web3 social platform and infrastructure
This list was compiled using information from Messari and TechCrunch's own reporting.
what else are you writing?
Ready to step outside the world of Web3? Here are some TechCrunch articles that caught our attention this week.
OpenAI's deal with publishers could spell trouble for rivals Amazon now allows sellers to use AI to create listings via URL SpaceX announces third big Starship deal early Thursday Aiming to launch Creators frustrated but energized as TikTok ban gathers momentum Quick commerce is gaining rapid global penetration in India
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