Bring Back Tone Vays: CZ Plan Failed, Venture Winter, Meet CommEX
“Bring Back Tone Vays” — a news podcast edited by ForkLog and friends, covering the industry’s major events of the week.
Topics of the episode: hackers return funds, why Changpeng Zhao (CZ)’s plan to rescue the market failed, what’s happening with Web3-startups, Hoskinson vs Buterin, depeg of the Real USD stablecoin, CommEX exchange plans.
Participants: Alex K., Vasily Smirnov.
Special guest: Anton Toroptsev, Regional Director of the CommEX exchange in Russia and the CIS.
HTX Returned Stolen Funds
HTX (formerly Huobi) returned the stolen 5,000 ETH (~US$7.9 million at the time) as a reward of 250 ETH (~US$409,000) to the hacker. HTX’s Advisory Council Justin Sun stated that the hacker “made the right choice.”
CZ Plan Failed
According to Bloomberg, Binance CEO Changpeng Zhao was not able to implement his plan to create a $1 billion fund to revive the industry after the FTX collapse. The publication notes that the initiative raised only $64 million.
Venture Winter
This week we published a piece on the state of the venture market: funding rounds for Web3 startups have fallen 76% year over year. Investors are exercising caution, and startups must seek new ways to finance themselves.
We recently wrote about what is happening with hiring in the blockchain space amid the investment downturn in a separate article.
Charles Hoskinson vs Ethereum
Ethereum is accused of plagiarism. Vitalik Buterin introduced a new proposal for decentralizing the blockchain. After that Cardano founder Charles Hoskinson wrote on X that Ethereum developers “literally admitted” copying Ouroboros.
CZ Does Not Expect a Boom
Changpeng Zhao spoke with a forecast for Bitcoin’s price. In his view, one should not expect a blowout rally for the first cryptocurrency immediately after the halving: ATH will be updated a year after the halving.
Not So Real USD
Collateral-backed by tokenized real estate, the stablecoin Real USD (USDR) lost its peg. The asset price fell by 50%.
The US Wages War on Crypto
In the Joe Rogan podcast, OpenAI CEO Sam Altman stated that the US is waging war against the crypto industry, and affirmed his commitment to the first cryptocurrency.
“I am delighted with Bitcoin. The idea of a world currency not under the control of any government is a supremely logical and important step in technological development,” he noted.
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