Web3 dominance within crypto funding rounds has been well documented by Cointelegraph Research. In addition to the Web3 mega funds announced recently, venture capital has also been making smaller, more targeted investments in the sector. In this week’s Venture Capital (VC) Roundup, we chronicle the latest Web3 funding initiatives and draw attention to a sharding platform, nonfungible token (NFT) marketplace, crypto banking solution and co-ownership infrastructure provider. Related: Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar Gamers, athletes and content creators back WWVentures WWVentures, a boutique crypto venture firm, has raised $15 million for its Web3 fund — …

Web3 and tech companies participated in a funding round for a data platform called Space and Time that aims to transform central databases into trustless data sources powered by smart contracts. In an announcement sent to Cointelegraph, Space and Time mentioned that they’ve raised $20 million in strategic funding from investors like Microsoft's M12 fund, the venture capital arm of Microsoft, Avalanche and Polygon. In addition to these, investors also included Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Stratos, Hash CIB, Coin DCX and other Web3 communities and angel investors. Nate Holiday, the co-founder and CEO of Space and Time, …

Decentralized exchange (DEX) GMX has reportedly suffered a price manipulation exploit from an exploiter who managed to make off with around $565,000 from the AVAX/USD market. The unidentified exploiter is understood to have capitalized on GMX’s “minimal spread” and “zero price impact” features to pull off the exploit, which impacted GLP token holders who provided liquidity in the form of AVAX (the Avalanche token) to GMX. GMX confirmed the price manipulation exploit in a Sept. 18 post on Twitter, but stated that the AVAX/USD market would remain open despite imposing a $2 million cap on long positions and $1 million …

BNB, the native token of Binance’s BNB Chain, entered a symmetrical triangle formation on Aug. 10, when it first faced the descending trendline at the $335 resistance. The following five weeks have been a struggle around $280, the exact intersection between the two conflicting ascending and descending patterns. A decision on whether the symmetrical triangle will break to the upside or downside is expected by Sept. 30, when the trendlines cross. Currently holding a $45 billion total market capitalization, BNB Chain token has outperformed the broader altcoin market by 15% over the past three months. The latest breakthrough in BNB …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Decentralized applications, or DApps, finally showed a glimmer of recovery in August as the daily average of unique active wallets rose by 3.7% compared to May. With just under a week left for the Merge, SEBA Bank has opened Ethereum staking services for the institutions. On the other side, layer-2 scalability solutions are hopeful of seeing a significant cut down in their carbon emissions post Merge. This past week, two DeFi protocols became victims …

USDT-issuer Tether wants law firm Roche Freedman “terminated” as counsel from the Bitfinex and Tether class action lawsuit following a motion from Kyle Roche to be removed as counsel in the case. In an Aug. 31 court order request by Elliot Greenfield of Debevoise & Plimpton LLP, the law firm representing Tether and Bitfinex requested that Roche’s law firm be removed from the case entirely and to certify that they’ve returned or destroyed all defendant-issued documents and have not shared them with any third-party, including Ava Labs. The request follows shortly after Roche submitted a Notice of Motion to Withdraw …

Avalanche (AVAX) bulls snubbed the sensational claims made by a self-proclaimed whistleblower website that the project's parent firm, Ava Labs, paid lawyers to damage its competitors' reputation. Avalanche price recovers from serious allegations AVAX's price established an intraday high of $19.75 on Aug. 30, two days after bottoming out locally at $17.50, amounting to a 15% rise. The token's modest recovery followed selloffs incurred by a sensational CryptoLeaks report. ️ #Avalanche is the top rising topic in #crypto following a claim that its #blockchain was attempting to manipulate regulatory systems. After hitting a 7-week low about 9 hours ago, $AVAX …

Avalanche-based decentralized finance (DeFi) protocol Trader Joe claims it may have found a way to mitigate one of DeFi’s biggest weaknesses — impermanent loss. In a newly released whitepaper on Aug. 23 called the JOE v2 Liquidity Book, authored by Quant developers and researchers Adam Sturges, “TraderWaWa”, “Hanzo” and software engineer “Louis MeMyself”, the developers outlined the use of Liquidity Book (LB) with an additional variable fee swap feature to "provide traders with zero or low slippage trades." /4 Impermanent Loss One of the most critical issues of Uniswap V3 is that impermanent loss often exceeds swap fees. A study …

Bitcoin (BTC) and most major altcoins witnessed a sharp sell-off on Aug. 19, but there does not seem to be a specific trigger for the sudden drop. The sharp fall resulted in liquidations of more than $551 million in the past 24 hours, according to data from Coinglass. Barring a V-shaped bottom, other formations generally take time to complete as buyers and sellers try to gain the upper hand. This tends to cause several random volatile moves that may be an opportunity for short-term traders, but long-term investors should avoid getting sucked into the noise. Glassnode data shows that investors …

After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a "technical adjustment," but the network’s deposits and decentralized applications reflect worsening conditions. To date, Avalanche remains 83% below its November 2021 all-time high at $148. More data than technical analysis can be analyzed to explain the 16% price drop, so let’s take a look at the network’s use in terms of deposits and users. The decentralized application (DApp) platform is still a top-15 contender with a $7.2 …

Bitcoin’s (BTC) bounce fizzled out near $24,500 on Aug. 17, indicating that the recovery still faces stiff resistance from the bears. On-chain monitoring resource Material Indicators said the ask liquidity on the Fire Charts was similar to prior local tops. Another reason for caution among crypto investors was that the recovery in the S&P 500 was reaching extreme overbought levels in the near term. Jurrien Timmer, director of global macro at asset manager Fidelity Investments, said that 88% of stocks in the S&P 500 were trading above their 50-day moving average, which was “stunning.” Some were also cautious as Michael …

Bitcoin (BTC) has been witnessing a tough battle between the bulls and the bears near the $25,000 level. A clear winner may not emerge in the short term due to a lack of a catalyst and because there is no major macro economic data scheduled for this week in the United States. Data points from Asia or Europe may increase volatility, but they are unlikely to start a new directional move. Anthony Scaramucci, founder and managing partner of Skybridge Capital, in an interview with CNBC, advised investors to ride out the current uncertainty in cryptocurrencies and “stay patient and stay …