“Chain Reaction” Newsletter Recap for November
After a brief hiatus for Thanksgiving, TechCrunch’s “Chain Reaction” newsletter is back. November has been a busy month in the crypto world, with lawsuits, price changes, and the typical crypto chaos. Here’s a roundup of the latest happenings in web3 and other news from the world of crypto and beyond.
What’s Happening in Web3
The world of web3 continues to see intense activity and developments:
– The regulatory climate for crypto is expected to remain tough in 2024, as enforcers continue to crack down on non-compliance.
– Executives at Optimism remain optimistic about Ethereum’s future, despite ongoing battles over scaling.
– The crypto industry is awaiting a significant recovery to lure investors back to web3.
– Binance and its CEO, ‘CZ’, have pleaded guilty to federal charges and agreed to pay $4.3 billion in fines.
– Chinese tech giants have begun exploring opportunities in web3, albeit with limited success so far.
The Latest Pod
In this week’s episode, Jacquelyn interviews Jing Wang, CEO and co-founder of Optimism, and Ryan Wyatt, the company’s chief growth officer. They discuss Optimism’s work on layer-2 blockchain technology focused on scaling and speed, and talk about the various factors driving growth in this space.
Follow the Money
In terms of funding and investments, the crypto industry has seen notable activity:
– Acctual raised $3.85 million to help crypto companies improve bill management.
– Open Campus received a $3.15 million investment from Binance Labs for web3 education.
– Wind.app raised over $3 million to make DeFi accessible to average consumers.
– MYX raised $5 million in a seed round, valuing the company at $50 million.
– Coral, a blockchain-built fitness and wellness app, secured a $3 million investment from TealLink.
What Else We’re Writing
If readers want to explore topics outside of web3, they can check out the following articles on TechCrunch that gained attention in November:
– The 2024 IPO cohort is taking shape, with Shein and Reddit preparing to go public.
– A recap of everything Amazon Web Services announced at AWS re:Invent.
– An honest perspective on the challenges of being a founder.
– Details of Apple partner Foxconn’s plan to invest $1.5 billion in India.
– A report on European startup funding, which halved to $45 billion in 2023.
Stay Informed
To stay updated on the latest episodes of “Chain Reaction” and other crypto news, follow Jacquelyn on Twitter @Jacqmelinek. And don’t forget to subscribe to the podcast on Apple Podcasts, Spotify, or your favorite pod platform.
I have been featured in numerous publications, both online and offline, and am a regular speaker at industry events. I am also the founder of Crypto University, an online educational platform that helps people learn about cryptocurrencies and blockchain technology. In addition to my writing and teaching career, I am also an active investor in the cryptocurrency space. I have made investments in some of the leading projects in the space, and my portfolio has outperformed the market by a wide margin