This week in web3 #11
Every Friday afternoon, we share with you the most important news of the week in the world of web3.
1️⃣ SBF will be released on $250M bail
FTX founder Sam Bankman-Fried will be released on $250 million bail while he awaits trial for eight federal criminal charges related to alleged fraud at his collapsed crypto empire. https://www.cnbc.com/2022/12/22/ftx-founder-sam-bankman-fried-to-be-released-on-250-million-bail.html
2️⃣ Binance addresses FUD
The world’s largest crypto exchange, Binance, has been dealing with a torrent of FUD (fear, uncertainty, and doubt) since the downfall of FTX. The firm is now fighting back with its latest blog post. https://cointelegraph.com/news/binance-addresses-7-instances-of-recent-fud-in-chinese-blog-post
3️⃣ Filecoin plummets 30% over the week
The price of Filecoin has plummeted 30% in the past week, with the asset currently trading close to all-time lows. https://decrypt.co/117786/filecoin-plummets-the-week-hovers-near-all-time-lows
4️⃣ Core Scientific files for bankruptcy
Core Scientific, one of the largest Bitcoin miners by computing power, filed for bankruptcy protection on Wednesday and reached a deal with some of its lenders to restructure its debt. https://www.coindesk.com/business/2022/12/21/core-scientific-one-of-the-largest-bitcoin-miners-files-for-bankruptcy-protection/
5️⃣ The Pokémon Company sues Aussie crypto company
Documents have revealed that The Pokémon Company International is taking Aussie crypto company KOTIOTA Studio to court over advertising a new NFT-based Pokémon mobile game. https://www.vooks.net/the-pokemon-company-takes-aussie-crypto-company-to-court-over-pokemon-nft-game/
6️⃣ Brazilian president signs crypto bill into law
Jair Bolsonaro, the president of Brazil set to leave office at the end of the year, has signed a bill aimed at legalizing the use of crypto as a payment method within the country. https://cointelegraph.com/news/brazilian-president-signs-crypto-bill-into-law