This week in web3 #11

Every Friday afternoon, we share with you the most important news of the week in the world of web3.

This week in web3 #11

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.

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.

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.

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.

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.

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.