SBF Convicted, Worldcoin Faces Yet Another Ban, and Web3 Pre-Seed Funding Sees a Revival

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SBF sentenced, Worldcoin hit with another ban order and big web3 pre-seed rounds are backWelcome to TechCrunch Crypto, formerly known as Chain Reaction. This week in web3Crunching numbersThis week the crypto market prices were a bit more chipper, with the top cryptocurrencies being green on the week. The second-largest crypto, ether, increased 2.6% on the week to $3,550, according to CoinMarketCap data. Zero-knowledge proofs are a cryptographic action used to prove something about a piece of data, without revealing the origin data itself. Scott and I discuss Space and Time’s origin story, how data warehouses work in Web 2.0 versus web3 and the importance of data transparency.

“Nikola CEO Trevor Milton Receives 4-Year Sentence for Securities Fraud”

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Trevor Milton, the disgraced founder and former CEO of electric truck startup Nikola, was sentenced Monday to four years in prison for securities fraud. The sentencing hearing comes after four separate delays, during which Milton has remained free under a $100 million bond. Milton sobbed as he pled with Judge Ramos for leniency in a long and often confusing statement ahead of the sentencing. At one point, Milton said he stepped down from the CEO post at Nikola not because of fraud allegations, but to support his wife. That video sparked investigations from third parties, and after a report by Hindenburg Research called the company a fraud, Milton stepped down in September 2020.