Welcome to TechCrunch Crypto, previously often called Chain Response.

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Good day and welcome again to the TechCrunch Crypto publication.

I hope you all “choose rich” this week, which will be the latest slogan the crypto group adopts, due to Nick O’Neill, co-founder and CEO of Nifty Portal, who mentioned it in a parody video on Friday. That is arguably a extra empowering message, against the long-time crypto catchphrase of telling folks to “have fun staying poor.”

Will this assist carry extra folks into the area? Uh, let’s get a rain test on answering that query.

It was an eventful week within the crypto world: bitcoin’s worth hit a brand new all-time excessive, Solana jumped to early 2022 ranges as memecoins on its chain spiked, Sei Labs created a brand new framework to assist Ethereum, Nigeria is at odds with Binance and Worldcoin faces warmth in Spain.

Extra particulars beneath.

This week in web3

Crunching numbers

As talked about, this week the crypto area noticed all-time highs for bitcoin, once more. It’s up 8.5% on the week at $72,500 and 40.4% larger on the month, on the time of publication. The second-largest crypto, ether, is up 3.8% on the week to $3,900, based on CoinMarketCap data. The total crypto market cap elevated 8.3% throughout the identical time-frame to $2.75 trillion.

Memecoins throughout the Ethereum, Solana and Avalanche blockchains have seen an enormous rally because the crypto market continues to increase.

Mog coin, a self-proclaimed “culture coin” on Ethereum, has a market cap of $435.3 million and is up 4% on the week. Solana-based dogwifhat, which is predicated on a Shiba Inu in a knitted beanie, is up 79% over a seven-day interval, and Coq Inu, on Avalanche, is up 36% throughout the identical interval.

It’s vital to do not forget that whereas some memecoins will retain worth help for an prolonged time frame, some can plummet inside days, or hours. So, DYOR.

The most recent pod

Chain Response is doing a month-to-month sequence diving into totally different subjects and themes in crypto. This month we’re specializing in blockchain and AI integrations.

For this week’s episode, I interviewed Melody Hildebrandt, CTO of Fox Company, and Mike Clean, COO at Polygon Labs.

Why these two corporations? Effectively, Polygon Labs, the layer-2 blockchain centered on scaling Ethereum, and Fox Company, the well-known media conglomerate, joined forces in January to tackle deepfakes as synthetic intelligence turns into extra prevalent.

Fox launched Confirm, an open supply technical protocol for media corporations to register content material and grant utilization rights to AI platforms, whereas additionally permitting customers to confirm content material by way of Polygon’s tech.

We talk about:

The Fox and Polygon partnership
Defending content material from misuse
What position blockchain know-how can play with verifying information
How deepfakes can have an effect on the U.S. 2024 election

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the newest episodes, and please go away us a assessment if you happen to like what you hear!

Comply with the cash

Former web3 gaming founders raise $2.5 million for their NFT marketplace to retain users even when there ‘isn’t money to be made’
Netherlands-based institutional change D2X raised $10 million in Collection A led by Point72 Ventures
Web3 infra supplier Polyhedra Community raises $20 million at $1B valuation
ClearToken raises $10 million from institutional buyers to enhance regulated clearing infra
UXLINK raised $9 million for its web3 social platform and infra to assist dApps develop

This record was compiled with info from Messari in addition to TechCrunch’s personal reporting.