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Our Weekly report dives into the freshest updates and game-changing developments in the fast-paced world. We curate the best data from trusted sources to keep you ahead of the curve. Ready to stay informed and inspired? Let’s explore the latest trends and insights together!

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1. Web3, Blockchain & Crypto Breaking News This Week

Here are this week’s major breaking news reports, related to the Web3, Blockchain and crypto world, that you should never miss.

New York Attorney General Letitia James sues NovaTechFx and AWS Mining, alleging illegal pyramid schemes that defrauded over 11,000 individuals and investors, causing losses exceeding a billion dollars in cryptocurrency.

Following FTX’s bankruptcy, creditors object to its reorganisation plan, citing issues with property rights, the best interest test and inconsistent debtors liquidation analysis. The objection was highlighted by Sunil Kavuri, a creditor activist for FTX.

As Andrew Tate-inspired meme coins trend on DEXScreener, quickly amassing hundreds of millions of dollars, Tate confirms his attempt to crash Solana, causing chaos in the crypto market.

SEC Chair Gary Gensler raises concerns over unethical conduct in crypto exchanges and maintains in a recent interview that the introduction of spot Ethereum ETFs will need more time.

Cardano founder Charles Hoskinson refutes claims of weak fundamentals, criticising media for negative portrayals. He asserts that Cardano’s progress contrasts starkly with the media’s depiction.

Trading platform Robinhood plans to buy cryptocurrency exchange Bitstamp in an all-cash deal valued at $200 million, aiming to expand its crypto presence and attract institutional clients.

U.S. lawmakers call on President Joe Biden to intervene in the detention of Tigran Gambaryan, a Binance executive held by Nigerian authorities for nearly three months, treating it as a hostage crisis.

Thailand’s SEC approves One Asset Management to launch the country’s first Bitcoin ETF, available exclusively to wealthy and institutional investors. The ETF invests in 11 prominent global funds.

Austrian crypto broker Bitpanda partners with Deutsche Bank to enable real-time payment solutions in Germany. Through API integration, Bitpanda will access German IBAN accounts, streamlining user transactions.

Watford Football Club plans to sell 10% of its equity to investors, including fans, via crypto and startup investment platforms Republic and Seedrs, aiming to engage supporters and raise funds.

A Harris Poll survey, funded by Bitcoin ETF issuer Grayscale, shows increasing numbers of American voters considering Bitcoin as a hedge against geopolitical tensions and inflation. One in three voters will consider candidates’ stances on cryptocurrencies.

2. Blockchain Weekly Analysis

The blockchain weekly analysis primarily covers the blockchain dominance analysis and the blockchain 7-day change analysis. In order to bring more clarity, the Layer 1 chains and Layer 2 chains are analysed separately.

2.1. Blockchain Dominance Analysis

Ethereum, TRON, BNB Smart Chain, Solana and Arbitrum One are the top five blockchains as per dominance and TVL.

Among the top five chains, Ethereum dominates with 64.07%. TRON and BNB Smart Chain follow with 8.38% and 5.64%, respectively. Ethereum marks a TVL of $66,389,145,462. TRON and BNB Smart Chain record $8,681,768,450 and $5,840,828,974 TVL, respectively.

2.1.1. Top Five Layer 1 Chains By Dominance

Ethereum, BNB Smart Chain, Solana, Bitcoin and Avalanche are the top five Layer 1 Blockchains by dominance and TVL.

Among the top five Layer 1 chains, Ethereum dominates with 81.13%. BNB and Solana follow with 7.08% and 5.85%, respectively. Ethereum has the highest TVL of $66,329,231,344. BNB and Solana follow with $5,784,982,113 and $4,781,612,203, respectively.

2.1.2. Top Five Layer 2 Chains By Dominance

Arbitrum One, Blast, Base, Polygon POS and Optimism are the top five Layer 2 Blockchains on the basis of dominance and Total Value Locked.

Among the top five Layer 2 chains, Arbitrum has the highest dominance of 28.72%. Blast and Base closely follow with 20.47% and 15.73%, respectively