The Final Edition of The Zero Byte Crypto Newsletter
As we bid farewell to The Zero Byte Crypto, previously known as Chain Reaction, I want to express my sincere gratitude to each and every one of you for being a part of this journey. If you’d like to stay connected, feel free to follow me on Twitter for future updates.
This Week’s Highlights in Web3
Despite the newsletter’s conclusion, the world of web3 continues to evolve. Here are the top stories from this week:
- Former FTX CEO Sam Bankman-Fried, who was found guilty on seven counts related to fraud and money laundering in November, received his sentence.
- Borderless Capital acquired CFT Capital, aiming to integrate AI and quantitative expertise into their web3 investment strategy.
- Worldcoin encountered another ban in Europe due to concerns over risks to children.
- A new web3 network is under development, with the goal of ending Big Tech’s control over user data.
- 0G Labs secured an impressive $35M pre-seed funding to develop a modular AI blockchain.
Crypto Market Overview
The crypto market showed signs of recovery this week, with the leading cryptocurrencies experiencing gains. Bitcoin rose by 7.4%, reaching approximately $71,300, while Ether increased by 2.6% to $3,550, according to CoinMarketCap data. The total crypto market cap grew by 6.4% during the same period, reaching $2.67 trillion.
The Latest Episode of Chain Reaction
In this month’s series, Chain Reaction explores the intersection of blockchain and AI. For the latest episode, I had the pleasure of interviewing Scott Dykstra, CTO and co-founder of Space and Time.
Scott’s impressive background includes nearly eight years at Teradata, where he held various positions such as senior architect, director of cloud solutions, and VP of global cloud. Space and Time aims to provide a verifiable compute layer for web3, scaling zero-knowledge proofs on a decentralized data warehouse.
In our discussion, we cover:
- The potential of blockchain and AI integration
- Space and Time’s collaboration with OpenAI and blockchain data developments
- Future applications of data and on-chain AI
- Guidance for navigating bull and bear markets
Subscribe to Chain Reaction on Apple Podcasts, Spotify, or your preferred podcast platform, and please leave a review if you enjoy the content!
Notable Funding Rounds
- Illuvium, a web3 gaming startup, raised $12 million in a Series A round to expand its offerings.
- Gunzilla, an Avalanche-based company, secured $30 million to support the release of its new game, Off The Grid.
- OrdinalsBot raised over $3 million to develop its Bitcoin blockchain-focused data layer.
- Reya Network obtained $10 million for its trading-centric modular layer-2 blockchain.
- MyPrize, a crypto-powered online casino, raised $13 million.
This list was compiled using information from Messari and The Zero Byte’s own reporting.
Noteworthy Articles on The Zero Byte
If you’re looking to explore topics beyond web3, here are some engaging articles from The Zero Byte that caught our attention this week:
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Eleanor Hayes: Guess it’s just another manic Monday in the cryptoverse, but with real-world consequences this time.
Crypto’s wild west just got a new sheriff, and apparently, not everyone’s pleased!
Some crypto titans fall while others ride the wave to uncharted territories; guess it’s just another day in paradise… or is it purgatory
Wow, talk about a rollercoaster in the tech world, huh
Ironically, while one door closes for SBF, another opens wide for daring Web3 entrepreneurs – the cycle never ends, does it