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776 Management, the VC firm owned by Reddit co-founder Alexis Ohanian, has raised $500 million for two new funds primarily focused on crypto. 

The post Reddit co-founder raises $500 million fund for crypto startups: report appeared first on The Block.

ConsenSys, the company known for its MetaMask and Infura products, is set to take over wallet manager MyCrypto.

The post Ethereum software company ConsenSys acquires wallet manager MyCrypto appeared first on The Block.

Bored Apes owners continue to be targets of phishing attacks as one collector loses $2.7 million worth of NFTs to scammers.

The post NFT collector loses $2.7 million in Bored Ape NFTs and derivatives appeared first on The Block.

Solana Labs has launched Solana Pay to let merchants accept crypto payments directly from consumers.

The post Solana Labs launches Solana Pay, a payments protocol for digital commerce appeared first on The Block.

MicroStrategy has continued its bitcoin-buying spree. The company has bought additional 660 bitcoins for around 25 million in cash.

The post MicroStrategy buys more bitcoin for $25 million appeared first on The Block.

Solana and Terra were both trading up by double digits at the time of writing—a reversal from the brutal January for coins.

The post Crypto market stages comeback with Solana, Terra leading rally appeared first on The Block.

Bitfinex hackers who stole funds from the crypto exchange in 2016 have moved 64,643 bitcoins (worth nearly $2.5 billion at current prices).

The post Bitcoin worth $2.5 billion moved by 2016 Bitfinex hackers: Almost all funds now transferred appeared first on The Block.

India has provided a much-anticipated clarity on crypto taxation in its Union Budget for the fiscal year 2022-23.

The post India to tax crypto income at 30%, launch CBDC in the fiscal year 2023 appeared first on The Block.

The Federal Reserve released a new research report on stablecoins today, noting the risks and potential of the emerging digital assets.

The post Fed releases new research on risk and promise of stablecoins appeared first on The Block.

Quick Take

• Verifiable decentralized networks have enabled novel web applications and models whereby creators and communities can monetize and internet-native communities can collaborate
• Although Web3 is still nascent, it is clear that there is already significant economic activity taking place resulting in new goods and services in an ecosystem comprising DeFi protocols to NFTs and gaming to DAOs and more
• Here, we take a look at select numbers behind the emerging Web3 economy to try to start quantifying this new economic activity