Last week was Blockchain Week in Korea. With a few members of our team out in Korea to attend the conferences and join in the conversation, let us report on the highlights. 

Amidst the busy week, some notable news transpired in the web3 world. Firstly, there was some discussion around crypto funding in August, highlighting that the numbers may not be as promising as they initially appear. Additionally, the need for a “ChatGPT moment” was emphasized to help scale enterprise adoption of blockchain technology.

MetaMask, a popular crypto wallet, announced that it now allows users to cash out their crypto to PayPal and banks. However, it is worth noting that the associated fees may be high. Furthermore, Gleen, a tech-savvy chatbot for Discord and Slack, attracted the attention of Solana founder in an oversubscribed funding round.

In other news, there is a recognition that the U.S. cannot completely hinder the progress of cryptocurrencies, as real regulations are on the horizon. It is anticipated that these regulations will bring about greater clarity in the crypto industry.

In terms of funding news, Story Protocol raised over $54 million, D3 Global secured $5 million in a seed round, Socket received $5 million from Coinbase Ventures and Frameworks, Kotani raised $2 million in pre-seed funding, and GenTwo secured $15 million in Series A funding.