Web3 & DAO News: Week 44, 2022

Here’s the next weekly recap of significant happenings within the Web3 and DAO space all in one Twitter thread.

Subsequent threads are formatted to include the latest news, their TL;DR, and direct links for you to explore more.

Keep reading as the hub brings you up to speed with the latest Web3 happenings.

MakerDAO Goes TradFi –Decrypt Media

• Largest DeFi protocol on Ethereum has brought TradFi assets into its portfolio.
• MakerDAO now generates half of its revenue from in real life assets.
• Estimates it will see $20.2 million in annual revenue.

DeFi Lender MakerDAO Goes TradFi and Doubles Revenue - Decrypt

VeriDAO Files For Amicus Lawsuit Supporting Ripple –CoinGape Media

• The SEC versus Ripple case continues to see various entities trying to file amicus briefs supporting Ripple in the XRP lawsuit.
• The latest XRP supporter is VeriDAO.

XRP Lawsuit: Veri DAO Files For Amicus Supporting Ripple

Japan’s Digital Agency launches DAO to explore DAOs and Web3 — Cointelegraph

• The Digital Agency of Japan has launched a research DAO as it aims to target Web3.
• This move was an effort to explore the “functions and roles” of DAOs.

Japan's Digital Agency launches DAO to explore DAOs and Web3

Proposed UK Rules Will Make Advertising Crypto a Lot Harder — CoinDesk

• UK lawmakers approved an amendment to a markets bill to regulate crypto ads.
• This means crypto could legally be recognized as financial instruments.

Proposed UK Rules Will Make Advertising Crypto a Lot Harder, Industry Warns

$1B Crypto Hack Fears Spur 20% GALA Plunge — YahooFinance

• Fears of a potential billion-dollar hack (or maybe a rug pull) drove the GALA token down 20%.
• However, the firm implies it attacked itself as a safeguard.

$1B Crypto Hack Fears Spur 20% GALA Plunge, but Firm Implies It Attacked Itself as a Safeguard

ApeCoin DAO approves $4.4 million bug bounty program — The Block

• The bounty program will go live on ethical hacking platform ImmuneFi.
• It will incentivize security experts to hunt bugs in the DAO’s token staking mechanism.

ApeCoin DAO approves $4.4 million bug bounty program on Immunefi

There’s the recap of the latest Web3 and DAO news and their direct sources for you to DYOR.

Next week, relevant happenings within the week will be brought to your notice by the next issue of the DIA Community News Thread.

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