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Jay-Z and Jack Dorsey fund bitcoin education program

Quick Take Rapper Shawn “Jay-Z” Carter and Twitter founder Jack Dorsey will fund a bitcoin education program for residents of Marcy Houses in Brooklyn. Dorsey said he thinks Bitcoin can be an important tool in empowering marginalized communities. Starting this summer, residents of Marcy Houses in Brooklyn will be eligible to receive free Bitcoin education classes as part of a new initiative funded by Twitter founder Jack Dorsey and rapper Shawn “Jay-Z” Carter. Dorsey announced the project, called The Bitcoin …

Chelsea Manning wants to take crypto back to its cyberpunk roots

Chelsea Manning thinks there’s a problem with crypto.  In a world where celebrities are coughing up more than half a million dollars for a jpeg of a cartoon ape, Manning says that the sector has “unequivocally” been overrun by greed.  “This is just the Gordon Gekko-ization of the technology space,” she says, likening the immense interest in cryptocurrencies and NFTs to the Wall Street film character synonymous with greed.  She says this has resulted in a huge misunderstanding of crypto …

StarkWare’s valuation quadruples to $8 billion in new funding round

StarkWare, an Ethereum scaling startup that utilizes ZK-rollup technology, has quadrupled its valuation to $8 billion after raising $100 million in a Series D funding round. Greenoaks Capital and Coatue led the round, Israel-based StarkWare announced on Wednesday. Other existing and new investors also backed the round, including Tiger Global. The funding also had a secondary component, meaning StarkWare’s employees were able to sell shares. StarkWare’s valuation has surged sharply in the past six months, despite the recent souring of sentiment …

Adam Neumann-backed blockchain startup Flowcarbon raises $70 million

Flowcarbon, a startup co-founded by former WeWork CEO Adam Neumann, has raised $70 million to develop its blockchain-based carbon trading tools. The round, which included both venture capital funding and a token sale, was led by Andreessen Horowitz’s crypto unit, according to a statement on Tuesday. Other investors include General Catalyst, Samsung Next, 166 2nd, Sam and Ashley Levinson, RSE Ventures and Allegory Labs. Participants in the token sale include Fifth Wall, Box Group and the Celo Foundation. “Flowcarbon’s mission is …

TRM Labs unveils community-driven scam reporting platform

Blockchain intelligence firm TRM Labs has unveiled a community-based scam reporting platform. Crypto users are able to report illicit activity to the platform’s public forum. Others then upvote, downvote or comment additional information. Information regarding the same addresses or entities is consolidated in a searchable database that allows users to check addresses or projects. The hope is that users can better vet projects before engaging with them.   Crypto money laundering grew from $6.6 billion to $8.6 billion between 2020 and …

After Terra’s stablecoin implosion, battered investors ask ‘where is Do Kwon?’

With angry investors facing heavy losses following TerraUSD’s dramatic de-pegging this week, users on the Terra Research Forum and Reddit are now asking where Terraform Labs CEO Do Kwon is and even calling for his arrest. The Terra crypto ecosystem was thrown into chaos this week when its TerraUSD (UST) algorithmic stablecoin de-pegged sharply from the US dollar. The crisis has seen both the price of UST and its related Luna token tumble, resulting in billions of dollars of losses …

Gem lead developer: OpenSea acquisition hasn’t killed possibility of token

Quick Take Gem’s users expressed their concerns that today’s acquisition of the platform by OpenSea might remove the possibility of it launching a token. However, Gem’s lead developer Vasa says this is not necessarily the case. Following today’s news that NFT marketplace OpenSea has acquired NFT aggregator Gem, some of Gem’s loyal users were dismayed that this may kill the chances of a token. Yet Gem’s lead developer Vasa poured cold water on that idea, suggesting it’s still a possibility …

NEAR Protocol raises $350 million in new funding round led by Tiger Global

Blockchain project NEAR Protocol has raised $350 million in a funding round led by Tiger Global, with participation from Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and others. The new funding will help NEAR increase “the number of regional hubs in key community centers across the globe,” according to a company statement. “NEAR is poised to be a leading smart contract blockchain platform, combining first-rate technology with a fast-growing developer ecosystem. We’re excited to support NEAR as we ramp up …

Andrew Yang wants to use web3 to advocate for web3

Quick Take Andrew Yang has launched a new crypto policy lobbying effort in the form of a DAO called Lobby3. The DAO departs from a traditional structure in that some decisions will be abdicated to an outside advocacy organization. This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Tokemak: liquidity rental-as-a-service

February 15, 2022, 2:50PM EST • 6 min read Quick Take Tokemak deploys protocol-controlled assets into providing liquidity on outside trading venues. TOKE stakers direct the liquidity and backstop the protocol in case of extreme protocol losses. Liquidity providers lend assets to Tokemak in exchange for inflationary TOKE rewards. They are made whole by protocol reserve and TOKE stakers in case of extreme protocol losses. It is unclear how Tokemak would combat impermanent loss incurred from providing passive liquidity. Join …