A worthy giving campaign

#Web3Weekly: Dec. 11–17, 2022

  • FTX founder Sam Bankman-Fried was arrested and charged with fraud in conection with the exchange’s recent collapse. He’s now in a Bahamian jail pending extradition to the U.S.
  • The number of developers working daily on blockchain projects has fallen 57% this year, according to CoinDesk. Ouch.
  • New investment in Africa: Visa announced it will invest $1 billion in Africa through 2027 to improve payment services there. Meanwhile, Jack Dorsey’s payments company Block and venture firm Stillmark jointly led a $2 million seed investment in Gridless. The startup is using crypto mining rewards to incentivize renewable energy production in Africa.
  • India’s central bank launched a pilot program in which four banks will offer customers a digital version of the rupee.
  • South Africa’s government increased reporting requirements for companies that offer custodial crypto services.
  • Bitcoiner Peter McCormack did a fascinating podcast episode with Alex Gladstein, chief strategist for the Human Rights Foundation, about the downsides for poor countries that accept financing from the World Bank and International Monetary Fund. The subtext, of course, is that these are the sort of problems bitcoin is eventually supposed to solve as an alternative financing system.
  • The Grist reports that many Wall Street firms are quietly backing off commitments made at a United Nations conference last year to avoid investments and practices that contribute to climate change.
  • Elon Musk has begun blocking journalists and Mastodon links on Twitter. Wow, seems his whole “saving free speech” project isn’t going too well…



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Peter A. McKay

I publish the newsletter #Web3Weekly. Former Head of Content & Writer Development at Capsule Social. Other priors: WSJ, Washington Post, and Vice News.