Ronaldo in trouble 🥵 India Blockchain Week kicks off!
Bangalore is THE place to be for the web3 community this week. Event coverages incoming from India Blockchain Week. Stay tuned!
GM fam! Welcome back to This Week in Web3 — delivered by Spacekayak, powered by The Product House 🚀
This week, we have some exciting events happening in Bangalore, India, and we have partnered with them to bring you some highlights from the most exciting web3 week! Today’s spotlight is on: FILBangalore! ⚡️
For you and Posty this week👇
FILBangalore 2023 Day 1 highlights ⚡️
Weekly product spotlight 🔦
Cristiano Ronaldo’s $1 billion lawsuit 👀
Weekly Web3 Updates ✨
Estimated Reading Time: 2:40 minutes
FILBangalore: India's Gateway to the Decentralized Future ⚡️
FILBangalore is the Indian edition of Filecoin’s global event series, organized by Huddle01. It brings together the leading web3 companies, projects, investors, developers, and experts under one roof to realize the shared dream of a decentralized future.
FILBangalore 2022 was a big success. Read about the highlights of last year here. Now, back to FILBangalore 2023, where This Week in Web3 was the media partner and is now bringing you some highlights!
⚡️ FIL Day 1
FIL Day 1 started with a welcome note from Huddle01 co-founders Ayush Ranjan and Susmit Lavania, where they shared how important it is to foster young South Asian talent in the web3 space and support projects that will drive the decentralised future, a vision that drives FIL.
This helped in setting the stage for 2 days of FIL and creating anticipation for the exciting discussions to come.
🚀 Over to Protocol Labs
Juan Benet, the founder of Protocol Labs, the internet tech R&D lab that develops IPFS and Filecoin, took the stage to talk about Web3, India, Filecoin and Public goods. He highlighted India's pivotal role in the decentralized landscape:
"India is one of the most exciting countries, and has tremendous potential to generate immense amount of value for the decentralized future we envision”
Following this, the Protocol Labs Dev Guild was unveiled, which is a cohesive program to upscale, fund and mentor developers building for the decentralized future. It will be launching first in India, in 2024.
Molly Mackinlay, the Engineering and Research Lead AT Protocol Labs, also walked the #FILBangalore attendees through how Filecoin is scaling its storage and computing to bring Planetary Scale Apps on-chain.
🔥 The Huddle01 Masterplan
Huddle01's Co-founders Ayush and Susmit unveiled the Huddle01 Masterplan on the Main Stage. They explained how Huddle01 is slowly transitioning to a decentralized node-to-node architecture.
App ➡ SDK ➡ dRTC Network
🛠 The 0-1 web3 journey
Next up, we had a deep dive into the 0-1 web3 journeys of Kanika, Nidhi, Archana, CyberShakti and Mahalakshmi.
We got to know how they got into web3, started participating and exploring the Web3 ecosystem to now being some of the most iconic people in India’s web3 scene.
📣 Insightful Workshops
The most exciting part, though, for every developer and web3 enthusiast at FIL were the workshops, that ran all day long.
We got to see some amazing workshops on libp2p, Instadapp, MOI, Filecoin Virtual Machine, Zeta blockchain, Fluence and more!
🤝 Co-creation and community
Next, we deep-dived into social, co-creation and community: the next big unlock.
We had Loveneesh Dhir, Tyagi, Prajnyasis Biswal, Aditi Chopra, and Ashwin. They had an insightful discussion on how community is a superpower in Web3.
And…that’s a wrap on the major highlights from Day 1!
Day 2 was packed with even more exciting workshops, panels, talks and a special surprise guest. Stay tuned to know the deets in our next issue, which might drop sooner than you think. 👀
Weekly Product Spotlight ⚡️
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Web3 Shorts 🪄
🧑⚖️ Cristiano Ronaldo's $1B Lawsuit Over Binance Endorsement
Cristiano Ronaldo faces a $1 billion lawsuit for promoting Binance's unregistered securities. Alleged by plaintiff Michael Sizemore, Ronaldo used social media for endorsements, possibly receiving digital assets as compensation. This adds to Binance's legal woes, including a $4.3 billion U.S. settlement and SEC violations. Ronaldo's 2022 Binance partnership for an NFT collection highlights SEC's warnings about virtual tokens and the need for celebrity promotion disclosures.
💰 FTX and Alameda's $22 Million Crypto Shuffle Amidst Bankruptcy Turmoil
FTX and Alameda Research have moved another $22 million in crypto assets, contributing to a total of $551 million in transactions post-bankruptcy. This includes a recent $10.8 million distribution to exchanges like Wintermute, Binance, and Coinbase, involving tokens like GMT, UNI, SYN, KLAY, FTM, and SHIB. Amid efforts to manage over $8.8 billion in debts, these liquidations highlight the ongoing turmoil and uncertainty in the cryptocurrency market.
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Web3 Pecks 🐦
Let’s get into Posty’s fresh pecks from the world of web3!
💰 A crypto hacker, employing 'address poisoning (when an attacker creates a similar-looking address to the victim's for sending funds. The hacker sends a small amount of crypto from the fake wallet to the target to "poison" their transaction history) ,' pilfered more than $2 million from Safe Wallet users in a week, contributing to a larger $5 million theft from 21 individuals.
🪙 Paxos receives in-principle approval from Abu Dhabi's regulator to issue U.S. dollar-backed stablecoins and provide digital asset services, following a similar authorization in Singapore.
🤝 Web3 security protocol Lossless recovered $800K from a Vulcan Forged exploit, showcasing its effectiveness in preemptively thwarting hacks and securing user funds in the growing Web3 ecosystem.
👟 Nike's RTFKT unveils Dunk Genesis sneakers, available without owning an NFT, blending fashion with gaming and internet culture. These physical, customizable shoes, priced at $222, incorporate optional NFC tags for digital collectibles.
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