Ryan Browne / CNBC:
Blockchain web search startup nxyz, founded by ex-Google executive Sridhar Ramaswamy, raised a $40M Series A in May led by Paradigm; Ramaswamy also runs Neeva — – Sridhar Ramaswamy, who led Google’s advertising business from 2013 to 2018, has launched a Web3 company called nxyz.
Stephanie Condon / ZDNet:
Google Cloud announces the Blockchain Node Engine, helping developers build and manage blockchain-based products, starting with Ethereum — Google Cloud on Thursday unveiled Blockchain Node Engine – a fully managed service for Web3 developers that wants to build and manage products for blockchain-based platforms.
Zinnia Lee / Forbes:
Hong Kong-based digital payments startup Reap, which is developing tools for Web3 companies, raised a $40M Series A led by Acorn, Arcadia, and HashKey — Reap, a digital payment company based in Hong Kong, has netted $40 million in a funding round aimed at developing infrastructure …
Jacquelyn Melinek / TechCrunch:
Fleek, which is developing tools for Web3 companies, including for storage, billing, and hosting, raised a $25M Series A led by Polychain Capital — Web3 developer platform Fleek has raised $25 million in Series A funding led by Polychain Capital, the company shared exclusively with TechCrunch.
Emily Nicolle / Bloomberg:
Amid mass layoffs, Snap says Web3 is not a priority since it doesn’t directly contribute to the company’s AR efforts, in sharp contrast to moves by rival Meta — Snap Inc. is sunsetting efforts focused on building products for the much-vaunted next generation of the internet known as web3 …
Chris Metinko / Crunchbase News:
Analysis: funding to VC-backed Web3 startups fell from $29.2B in 2021 to $21.5B in 2022; Q4 2022 funding fell 74% YoY from $9.3B to just $2.4B — While everything Web3-related dominated much of 2021 and the early part of last year, the end of 2022 showed a significant cooling of investor interest in the still young space.
Ryan Browne / CNBC:
Ripple says it is effectively “operating outside of the US” due to its legal fight with the SEC and is seeking a license in Ireland to drive EU expansion — – Ripple is expanding its presence in the EU, where it plans to “passport” its services through an entity in Ireland, General Counsel Stuart Alderoty told CNBC.
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