Web3 with FTC For February 7th - Ripple Lawsuit, Scotch & Soda + Flaunt, Gaming with ImmutableX, StarkNet open source, FBI Seizures, Web3 Funding, Munger's Crypto Ban

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"Welcome to Web3 with FTC by Fintech Confidential, the place where we

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keep you up-to-date on the latest developments in world of Web3,

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Crypto, Blockchain, NFTs, and Fintech.

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The fashion industry's integration with Web3 technology through the partnership

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between Scotch & Soda and Flaunt, the future of Web3 gaming with ImmutableX,

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the open-sourcing of StarkNet Prover software, the FBI's seizure of crypto

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assets from NFT phishing scammer Chase Senecal, the Web3 funding roundup, and

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Charlie Munger's call for a complete ban on cryptocurrencies in the United States.

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Get ready for an action-packed episode filled with insightful

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analysis and expert opinions on these hot topics in the Web3 world.

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Here's what we will cover in today episode.

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The ongoing SEC lawsuit against Ripple.

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A US pro-Ripple lawyer, Jeremy Hogan, has promised a victory

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dance if Ripple wins the lawsuit.

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With the judge's ruling predicted to come by March 31st, 2023,

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Scotch & Soda with Web 3 Partner Flaunt, is creating a seamless and

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secure program that rewards customers for their participation and engagement.

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Funtech keeps moving forward and ImmutableX co-founder Robbie

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Ferguson predicts a Web3 game with a million players in 2023.

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StarkWare, the company behind Ethereum scaling solutions StarkEx

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and StarkNet, announced plans to make its STARK Prover software open source.

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After the FBI seizes $260,000 in Crypto Assets from NFT Phishing

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Scammer, CFTC Chair promises to bring more enforcement actions against

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non-compliant crypto projects.

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Fintech Confidential's Web3 Funding Roundup oultines where Investors

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are Placing Bets on Crypto Startups and the problems they solve.

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Last but not least Charlie Munger's crticizims of crypto currencies

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has escalated to a call for a ban on cryptocurrencies in the U.S.

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Get ready to be part of the future of Web3 right here on Web3 with FTC."

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With our top story we will be discussing the latest developments in the

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ongoing SEC lawsuit against Ripple.

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A US pro-Ripple lawyer, Jeremy Hogan, has promised a victory

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dance if Ripple wins the lawsuit.

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With the judge's ruling predicted to come by March 31st, 2023, we

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take a closer look at the case and the hopes for a favorable outcome.

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The SEC lawsuit against Ripple has been a hot topic in the cryptocurrency

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world since it was filed in late 2020.

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Ripple CEO Brad Garlinghouse believes that a resolution could be

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reached in the first half of 2023.

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Meanwhile, the recent court ruling in a similar case has given Ripple some hope.

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John Deaton, the founder of CryptoLaw, secured a victory for

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cryptocurrency start-up LBRY, and the judge stated that the ruling

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did not apply to secondary market transactions of LBC tokens, implying

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that LBC itself is not a security.

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SEC Commissioner Hester Pierce has also opined that the SEC's case

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may not be as strong as it assumes.

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This, combined with the recent court ruling, has led many in the cryptocurrency

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community to believe that the lawsuit against Ripple could reach a resolution

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in 2023 with a favorable outcome.

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The decision of the Ripple lawsuit could have a significant impact

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on the future of cryptocurrency.

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A victory for Ripple would bring much-needed clarity to the cryptocurrency

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market, and the promises of a victory dance by pro-Ripple lawyer Jeremy Hogan

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only add to the anticipation.optimistic that tomorrow will be better.

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Next up

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Amsterdam-based fashion brand, Scotch & Soda, has announced a partnership

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with Flaunt, a web3 enterprise loyalty management platform, to

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turn their Club Soda 3.0 community into a cutting-edge loyalty program.

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Club Soda 3.0 is a complementary loyalty program focused on co-creation

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and deepening the relationship between Scotch & Soda and their customers through

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digital assets and web3 technology.

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Scotch & Soda distributed membership NFTs for free to top customers and

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created a roadmap of exclusive benefits to reward participation in the program.

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With Flaunt's modular platform, Scotch & Soda can configure, track,

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and manage the program, offering benefits to Founders Pass owners to

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increase loyalty and reward customer participation in the creative process.

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The collaboration between Scotch & Soda and Flaunt will expand membership

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benefits and co-create with their members, making Club Soda 3.0 a

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community-driven program accessible to all of Scotch & Soda’s top customers.

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With Flaunt's enterprise loyalty management platform, Scotch & Soda is

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able to create a seamless and secure program that rewards customers for

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their participation and engagement.

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"We are thrilled to be building alongside an iconic brand like Scotch & Soda

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and delivering technology that deepens their relationships with customers,"

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said Flaunt CEO Connor Kelley.

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The partnership marks a step forward in the integration of web3 technology in the

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fashion industry and how it will change the way we think about brand loyalty.

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ImmutableX co-founder Robbie Ferguson predicts a Web3 game with a million

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players in 2023, despite his less bullish outlook on markets due to macroeconomic

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conditions and increasing regulations.

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The leading Web3 gaming platform on Ethereum is powered by StarkWare ZK-rollup

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technology and is 100% carbon neutral.

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ImmutableX whale accounts have been accumulating IMX tokens since

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November, with holdings increasing by 58% in the past three months.

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The platform's recent partnership with StarkWare and introduction of the

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"Immutable Passport" are both driving factors behind the accumulation.

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IMX has gained 28% in the past week and 48% in the past fortnight, with

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the token trading at $0.855, its highest level since mid-September.

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The combination of web3 gaming and ZK rollups paint a bullish picture

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for ImmutableX, with its token price reflecting the positive sentiment.

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However, IMX prices are still down 91% from their November

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2021 all-time high of $9.52.

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StarkWare, the company behind Ethereum scaling solutions StarkEx

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and StarkNet, announced plans to make its STARK Prover software open source.

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The software, renamed as Starknet Prover, will be under an Apache 2.0

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license, allowing Web3 developers to freely use and modify the source code.

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The STARK Prover uses zero-knowledge rollups technology to bundle hundreds

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of thousands of transactions off-chain, verifying them on-chain at a fraction

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of the cost, thus making Ethereum transactions faster and cheaper.

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This move will boost the accessibility of the software to developers and promote

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collaboration within the community.

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Previously, StarkWare had open-sourced elements such as Cairo 1.0, the upgraded

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version of the native smart contract language for StarkNet, and the new

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StarkNet Sequencer, among others.

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The open-sourcing of the Starknet Prover is a landmark moment for scaling

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Ethereum and for cryptography as a whole.

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According to Eli Ben-Sasson, the president of StarkWare, this move is a

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step towards decentralizing the company's technology and will be a catalyst for

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developers to build on the infrastructure.

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The wider crypto industry faces challenges regarding scale and user experience, and

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Ben-Sasson believes that open-sourcing key tech will be a step towards

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popularizing self-custody in crypto.

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The FBI has successfully seized crypto assets worth $260,000 from NFT

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phishing scammer Chase Senecal, who was reportedly behind several attacks

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on NFT projects and Discord servers.

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The authorities' action was aided by research from on-chain sleuth ZachXBT.

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ZachXBT's research helped the FBI track down Senecal, who was allegedly

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responsible for phishing attacks on Nouns DAO, JRNY Club, and other projects.

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He used a Twitter panel acquired from another scammer to carry out the attacks.

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ZachXBT uncovered the address related to Senecal after he

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posted a luxury watch on Twitter.

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The FBI seized crypto assets including two NFTs valued at over $100,000 each,

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along with the luxury watch worth $41,000.

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In addition to the FBI's recent enforcement action, the US federal

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agencies have stepped up their scrutiny of the crypto space.

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The CFTC Chair has promised to bring more enforcement actions against non-compliant

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crypto projects, echoing the SEC's stance on crypto firms to register with it

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and the ongoing lawsuit against Ripple.

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The FBI's seizure of crypto assets from NFT phishing scammer Chase Senecal

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highlights the increased attention of US federal agencies on the crypto space.

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The recent enforcement actions reflect the authorities' determination

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to combat fraud and ensure the safety of the crypto industry.

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On-chain sleuth ZachXBT's research played a crucial role in this recent

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action, and his efforts to uncover the truth serve as a warning to

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other scammers in the crypto space.

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Investors have placed bets on 20 different Web3 startups this week,

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locking down a total of $185 million in funding, according to DeFiLama data.

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Although the funding amount is down from the $578 million raised by Web3 companies

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over the same period last year, the number of startups raising capital is up.

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Today we'll take a look at some of the lucky winners of the funding race.

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the first luck start up is Simba Chain: Blockchain enterprise solutions provider

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Simba Chain secured $30 million from the US Air Force's Stratifi program.

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Born from the University of Notre Dame in 2017, Simba Chain connects government

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agencies with Web3 technology and has been working with the US Air Force to tokenize

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its budget and improve accounting.

Block Joy: 00:10:36

A Web3 infrastructure developer landed a $12 million

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Series A, with investors su ch as Gradient Ventures, Draper Dragon,

Block Joy: 00:10:45

and Dragon Roark participating.

Block Joy: 00:10:47

Block Joy plans to use the incoming funds to build products

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that aim to reduce enterprise operations costs by more than 80%.

Powre: 00:10:55

the Canadian crypto mining company raised $9.2 million in a Series A led

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by Haru United, with participation from RFD Capital and Trinito Corporation.

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The investment pushed Powre's valuation to $150 million.

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Crypto-security company Hypernative secured $9 million in seed funding from

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Boldstart Ventures and IBI Tech Fund, with participation from Nexo, Borderless,

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Alchemy, CMT Digital, and angel investors.

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Hypernative aims to prevent hacks and heists in the Web3 space by developing

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cutting-edge web3 security solutions.

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Crypto project Sovereign Labs, focused on building rollups, raised $7.4 million

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in seed funding led by Haun Ventures, with participation from Maven 11, 1KX,

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Robot Ventures, and Plaintext Capital.

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Sec3 the Blockchain security firm, has raised $10 million in a seed

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funding round led by Multicoin Capital.

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Sec3 provides security solutions for smart contracts through its

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four products, Launch Audits, X-Ray, CircuitBreaker, and WatchTower.

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The firm is currently only serving projects in the Solana ecosystem

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but plans to expand into other blockchains in the near future.

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With the fresh capital, Sec3 aims to continue building and improving

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its products and double its current team by the end of the year.

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The company also plans to launch its own token to decentralize its operations.

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Addressable a Web3 marketing solution firm, has revealed it has

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raised $7.5 million from Fabric Ventures and Viola Ventures.

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Addressable's SaaS system links Blockchain activity to social profiles, providing

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Web3 marketing teams with a framework to start campaigns or target new audiences.

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The company's unique ability to pinpoint Web3 audiences on social media is the

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missing piece for mass adoption of Web3, according to CEO Tomer Sharoni.

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The financing will hasten the company's platform expansion, including new

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blockchains and social media connections.

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It is Clear that Investors are betting on the future of Web3 technology,

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despite the dip in overall funding amount compared to last year.

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Startups like SIMBA Chain, Block Joy, Pow.re, Hypernative, and Sovereign

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Labs are among the lucky winners of the funding race this week.

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With 20 startups raising capital, it's clear that the Web3 space is still

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attracting investment and innovation.

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Charlie Mungur, the Vice Chairman of Berkshire Hathaway, has

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called for a complete ban on cryptocurrencies in the United States.

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Mungur, who has long been a critic of cryptocurrencies, believes they have no

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real value and are just a form of gambling with a near 100% edge for the house.

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Despite the strong start to the year for the crypto market, with

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Bitcoin up 40% since the beginning of 2023, Mungur is not swayed.

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He points to China's recent ban on crypto-related services

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as a model for the U.S.

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to follow.

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Mungur also cites the ban on public trading in common stocks in England in

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the 1700s as a precedent for such a ban.

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Mungur's business partner and one of the world's richest men, Warren Buffet,

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shares his view on cryptocurrencies.

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In Munger's view, cryptocurrencies are not a currency, commodity, or

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security, but rather a gambling contract.

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He believes that in the absence of strict regulation, they are prone

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to manipulation and exploitation.

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Charlie Mungur's call for a ban on cryptocurrencies in the U.S.

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reflects a growing concern among some investors and policymakers about the risks

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posed by this relatively new asset class.

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Whether or not such a ban will be implemented remains to be seen, but it's

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clear that Mungur and others believe that the crypto market needs to be more

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closely regulated to protect investors.

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"That's a wrap for today's episode of Web3 with FTC by Fintech Confidential.

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We've covered some of the biggest Web3 stories that are shaking up the

Powre: 00:14:50

Web3 world and what they mean for you.

Powre: 00:14:52

From FBI Stings to Funding rounds to Fashion to law suits , we've

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explored the impact these events are having on the industry and

Powre: 00:14:59

what you can expect in the future.

Powre: 00:15:01

Thanks for tuning into “Web3 with FTC”, where we cover what’s behind the

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disruptive and innovative world of Web3, Blockchain, Crypto, NFTs and Fintech.

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And remember to follow us on our Telegram Channel, Linkedin, Facebook,

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and Instagram, and sign up for the latest news delivered straight to your inbox at

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access dot fintech confidential dot com.

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STAY DISRUPTIVE!

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The most common cause of bad customer experience.

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Isn't that high tech it's embarrassingly simple.

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Yup.

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It's asking the right questions and reviewing some key data points

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before delivering an answer.

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Increasing the likelihood of satisfying the customer and

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delivering a swift resolution.

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In ecommerce, it's really easy to get bogged down with basic support inquiries,

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whether that's where is my package, how do I return or exchange this item

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or just to cancel a subscription.

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And so what is Solvpath?

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In a nutshell, Solvpath is an A.I.-driven customer support system that uses a

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visual format and self-serve technology to quickly and effectively resolve

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issues, resulting in satisfying support experiences for customers.

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Customize a visual support experience for your ecommerce brands and

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increase your overall performance, enhance the customer experience and

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Get the best customer support system for your business.

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Get Solvpath.

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Get started by visiting get solve path dot com

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This has been a production of Diamond D3 Media,

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with All Rights Reserved.

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This is provided for informational purposes only.

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It is not offered or intended to be used as legal, tax, investment,

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financial, or other advice.

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We strive to provide accurate and up-to-date information, but will

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not be responsible for any missing facts or inaccurate information.

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You comply and understand that you should use any of this

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information at your own risk.

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Cryptocurrencies are highly volatile financial assets, so research and

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make your own financial decisions.

: 00:17:03

Support Provided By Solve path get the best A.I.

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customer support software for your business.

: 00:17:09

Get Started at www.

: 00:17:11

get SOLVPATH dot com

: 00:17:14

The most common cause of bad customer experience.

: 00:17:17

Isn't that high tech it's embarrassingly simple.

: 00:17:20

Yup.

: 00:17:20

It's asking the right questions and reviewing some key data points

: 00:17:24

before delivering an answer.

: 00:17:25

Increasing the likelihood of satisfying the customer and

: 00:17:29

delivering a swift resolution.

: 00:17:31

In ecommerce, it's really easy to get bogged down with basic support inquiries,

: 00:17:35

whether that's where is my package, how do I return or exchange this item

: 00:17:39

or just to cancel a subscription.

: 00:17:41

And so what is Solvpath?

: 00:17:43

In a nutshell, Solvpath is an A.I.-driven customer support system that uses a

: 00:17:48

visual format and self-serve technology to quickly and effectively resolve

: 00:17:52

issues, resulting in satisfying support experiences for customers.

: 00:17:57

Customize a visual support experience for your ecommerce brands and

: 00:18:00

increase your overall performance, enhance the customer experience and

: 00:18:04

drastically reduce support costs.

: 00:18:07

Get the best customer support system for your business.

: 00:18:10

Get Solvpath.

: 00:18:11

Get started by visiting get solve path dot com