Kevin Lin’s Web3 firm Metatheory raises $24M in an a16z-led funding round

Metatheory, a web3 interactive media firm founded by Twitch co-founder Kevin Lin, has secured $24 million in a Series A funding round. A press release unveiled this news earlier today, noting that Andreessen Horowitz (a16z) led the funding round. The company did not disclose its valuation. According to the press release, the financing round attracted…

Why did Litecoin’s MWEB upgrade take so long to roll out?

Litecoin founder Charlie Lee tweeted an estimated go-live date of May 19, at 20:30 PT, for the long-awaited MWEB upgrade. He signed off by prompting pools and miners, who haven’t already upgraded, to do so in preparation. MWEB is currently estimated to activate on 5/19 8:30pm PT (5/20 3:30am UTC). We’re thinking of doing a…

Coinbase to slow hiring and expansion due to market downturn

Coinbase announced today that it will slow its hiring process this year and reassess its headcount as it struggles with the market downturn. Emilie Choi, the president and COO of Coinbase, said that the company wants to focus on other business goals it deems to be of the “highest priority.” Coinbase won’t be tripling its…

French central banker says the G7 plans to discuss crypto regulations

The Group of Seven (G7) will likely discuss crypto regulation in a finance meeting this week in Germany. Francois Villeroy de Galhau, the Head of the French Central Bank, added that what happened in the past shows an urgent need for global regulation. He said this during an emerging markets conference in Paris. According to…

Robinhood announces non-custodial web3 wallet waitlist

Robinhood, the centralized exchange that offers commissionless trading in return for payment for order flow from market makers, has announced its web3 wallet. The wallet claims to offer crypto trades without swap fees and has over 150,000 people on the waitlist already. Users can jump up the waitlist by referring friends to the waitlist, but…

South Korean lawmaker suggests summoning Do Kwon to the national assembly

Yun Chang-hyeon, a lawmaker in South Korea’s ruling party, People’s Power, has suggested summoning Terraform Labs’ founder Do Kwon to a parliamentary hearing. A report unveiled this news today, noting that the legislators plan to summon Kwon over the collapse of the firm’s stablecoin and crypto projects. The company’s TerraUSD (UST) and Terra (LUNA) projects…

Web2 giant Cloudflare to run Ethereum 2.0 validator nodes

Almost 20% of all internet traffic on the planet runs through Cloudflare’s infrastructure, and they are now going to be running an Ethereum Consensus Layer node by staking ETH. For those who are unaware of Cloudflare, it “is a global network designed to make everything you connect to the Internet secure, private, fast, and reliable.”…

Top German regulator executive wants DeFi regulated

Birgit Rodolphe, a senior executive at German financial services regulator BaFIN, has called for the regulation of decentralized finance. She cited the risks of fraud and hacks as enough reason to regulate the sector. According to Rodolphe, DeFi might seem like a magic word, but it’s not that simple.  “The scene is rich in technical…

CFTC Chair labels Bitcoin, Ethereum as commodities

Rostin Behnam, the Chair of the Commodity Futures Trading Commission (CFTC), claimed Bitcoin (BTC) and Ethereum (ETH) are commodities. He said this during an interview with CNBC’s Squawk Box on Monday. Referring to a Senate bill that seeks to give the Securities Exchange Commission (SEC) control over a large chunk of the crypto market, leaving…

Spotify is testing new NFT features with music artists 

Spotify has begun testing NFT features with a select few artists in the U.S. The news was first reported by Music Ally when a spokesperson for Spotify confirmed that: “Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles”. The…