Builders are constructing out the blockchain ecosystem in Barcelona

Welcome again to Chain Response.

This week I’m writing the e-newsletter from the at present sunny and at all times lovely metropolis of Barcelona, Spain. I’m right here for the Avalanche Summit II, which is hosted by Ava Labs, the creator of the layer-1 blockchain Avalanche.

Up to now, there have been plenty of discussions surrounding blockchain gaming, decentralized finance and regulation.

Avalanche additionally introduced a partnership with Alibaba Cloud, the digital expertise and intelligence division of Alibaba Group, to deploy metaverses for the web market’s shoppers. The information was lined solely by TechCrunch — extra on that beneath.

I moderated two panels titled “Expert Insights on the State of Crypto Markets” and “Stablecoins: The Internet Payment Layer.” The TL;DR takeaway proper now could be that market gamers are bullish long run and count on the cryptocurrency market cap to develop considerably within the close to future (we’ll see) and the stablecoin trade has plenty of area to develop and the flexibility to shake up the web fee area.

There are nonetheless extra interviews to be achieved, content material to be rolled out and panels to be attended, so keep tuned for extra of that right here within the coming days and weeks.

This week in web3

Alibaba Cloud joins forces with Avalanche to deploy metaverses on the blockchain

Alibaba Cloud has partnered with layer-1 blockchain Avalanche to supply Alibaba’s shoppers with a launchpad, Cloudverse, that goals to assist companies customise, launch and preserve their very own metaverse areas on Avalanche’s blockchain. “You and I can create a metaverse proper now. Inside quarter-hour, the chain is up; inside hours the pockets is up and the turnkey is up,” Emin Gün Sirer, the founder and CEO of Ava Labs, mentioned. The expertise has been made “very straightforward” and all the instruments are open supply, he added.

As the US cracks down on crypto, Hong Kong extends a warm welcome

To create a good surroundings for web3 companies, the town is facilitating communication between banks and crypto startups, a lot of that are scrambling to search out alternate options following Silvergate Financial institution’s meltdown. Tightening crypto rules within the U.S. could give Hong Kong an opportunity to step up and be the subsequent crypto hub.

How Jack Dorsey’s Bitcoin Legal Defense Fund is fighting for the future of open source software

A crypto pockets theft lawsuit led to by a person who claims to be Bitcoin creator Satoshi Nakamoto may jeopardize the way forward for open supply software program growth. That’s in keeping with the Jack Dorsey-backed Bitcoin Authorized Protection Fund, which is taking over a case to defend 11 Bitcoin builders named in a lawsuit filed by Craig Wright, an Australian pc scientist who emerged into the highlight again in 2016 with a hotly disputed declare of being Bitcoin’s founding father.

Brett Harrison ‘never lost faith in the business’ while at now-shuttered FTX (TC+)

It has been virtually six months since FTX collapsed, and so much has transpired since then, from executives being charged to trade companies dealing with ripple results from its demise. At Consensus 2023, Anthony Scaramucci, former White Home comms director and founder and managing associate of SkyBridge Capital, which invested within the change, and Brett Harrison, founder and CEO of Architect and former FTX.US president, shared their experiences throughout FTX’s downfall and what life has been like since.

The newest pod

For this week’s episode, Jacquelyn interviewed Jake Chervinsky, the chief coverage officer at Blockchain Affiliation, a nonprofit group targeted on selling “pro-innovation” coverage for the digital asset world. He’s additionally a board member of the DeFi schooling fund and advisor for web3 seed-stage fund Variant.

Previous to his work with the Blockchain affiliation, Chervinsky started his legal professional profession in personal follow with a give attention to anti-money laundering and anti-corruption compliance and investigations, monetary providers litigation and authorities enforcement protection. He spends plenty of time in DC, testifying at hearings to assist present readability on the crypto trade in hopes to information it in the suitable route.

We dove deep into conversations about all issues regulation, from how Chervinsky views the present regulatory panorama as to whether or not we’re in a “crackdown” period as individuals name it.

We additionally mentioned:

  • Regulators’ views altering
  • American crypto firms
  • Are cryptocurrencies commodities or securities
  • Stablecoin laws
  • Future authorized frameworks and pointers

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please depart us a assessment in case you like what you hear!

Observe the cash

  1. {Hardware} crypto pockets supplier Tangem AG raised $8 million
  2. FARE Protocol raised $6.2 million in a seed spherical led by Goat Capital
  3. Entendre Finance raised $4 million to assist accounting and bookkeeping for blockchain exercise
  4. Nolus raised $2.5 million to construct cross-chain DeFi leases
  5. OKX Ventures invested an undisclosed quantity in Cetus Protocol

This record was compiled with info from Messari in addition to TechCrunch’s personal reporting.

To get a roundup of TechCrunch’s largest and most vital crypto tales delivered to your inbox each Thursday at 12 p.m. PT, subscribe here.

Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.

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