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Weekly Recap

Number of the Week

$5.7B

Meta reported a Q2 loss of $2.8 billion in its metaverse division, Reality Labs.

Its total loss YTD totals $5.7 billion, on track to match last year's annual loss of $10.2 billion. 

Top Insights

• The Future of CBDC and Stablecoin Coexistence [Sponsored] — Blockworks

• Web3 Watch: What are Semi-Fungible Tokens and Why is Coinbase Making a Movie? — Blockworks

• DeFi Lender Moves To Tokenize Real-world Loans On-chain [Exclusive] — Blockworks

• ‘Crypto Doesn’t Care About Fundamentals.’ Is That Sustainable? — Blockworks

• Q&A: The SEC Classified 9 Tokens as Securities. Now What? — Blockworks

• Valkyrie CEO: Firm, Industry to Emerge Stronger After Crypto Winter — Blockworks

• Q&A: Martin Shkreli on Repairing his Reputation — Blockworks

Top News

• Fed Raises Rates 75 Basis Points, Again — Blockworks

• Coinbase Defends Listing Process, Despite SEC Pressure — Blockworks

• Yuga Labs Faces Potential Class Action Lawsuit Over ‘Inflated’ BAYC NFTs — Blockworks

• Crypto Wallet Maker Ledger Sells NFTs, Becomes Top OpenSea Project — Blockworks

• Google, Apple Asked to Review Protections Against Crypto App Fraud — Blockworks

• Meta Metaverse Unit Has Lost $5.7B This Year — Blockworks

• Tesla Sells Bitcoin for $64M Profit, Still Posts $170M Impairment Loss — Blockworks

• Do Kwon Dogged by Fraud Allegations in South Korea — Blockworks

• Crypto Transactions Under $50 May Soon be Exempt From Capital Gains Tax — Blockworks

• Crypto CEO Who Faked PayPal Partnership Pleads Guilty For $21M Fraud — Blockworks

• Funding Roundup: Some $300 Million Poured into Crypto Projects Last Week — Blockworks

• Celsius Admits Customer Emails Leaked In Third-Party Data Breach — Blockworks

• FDIC Slaps Bankrupt Lender Voyager Over Deposit Insurance Claims — Blockworks

• First Charles Schwab Crypto ETF Set To Launch Next Week — Blockworks

Events of the Week

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What's Trending

• A visual exploration of the REAL use cases of NFTs (thread) — shivsak

• It’s crazy how far we’ve come (Infographic) — Greg

• MID-YEAR REPORT SERIES: Q2 Crypto Macro Review (Thread) — Blockworks Research

• The transfer of hundreds of billions of dollars from Boomers to digitally native Millennials & Zoomers will serve as a demographic tailwind for digital assets over the coming decade. — Will Clemente

• We analyzed 10 whale wallets, each with more than $10M. (thread) — The Crypto Illuminati

• Here are 10 companies I think are worth watching closely, and why I find them interesting (thread) — Mario Gabriele

• Dysfunctional DeFi (thread) — Bond Protocol

• On chain data can give you a big edge in Crypto (thread) — Covduk

• With serious runway concerns brewing, what's in store for the future of LDO and ETH? (thread) — Miles Deutscher

• Let's take a look at the last 5 recessions, and how this one may be different. (thread) — Miles Deutscher

• How soon will the Fed green-light the markets? These 7 charts can help us figure it out (Thread) — Blockworks

We're Watching

In this Roundup, Mike and Mark discuss tough questions on the recession, the Fed, aliens, human evolution, policy mishaps and more. 

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Written by @coldjeus. 

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