Friend.tech shutting down, investors left in lurch. Yat Siu shares insights on traditional finance complementing Web3. US spot Bitcoin ETFs experience outflows. Friend.tech transfers ownership to burn address. Telegram founder announces technical changes after arrest.

Friend.tech, the crypto social network built on Coinbase’s Base blockchain, is shutting down, leaving investors in the lurch while the project’s creators walk away with $44 million.
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Yat Siu, founder of Animoca Brands, shares insights on how traditional finance can complement Web3 projects like the metaverse and blockchain gaming, and discusses regional developments shaping the crypto landscape.
🔗Blockhead
US spot Bitcoin ETFs have experienced $1.2 billion in outflows in eight days, the team behind Friend.tech transferred ownership of its smart contracts to a burn address, and Telegram founder Pavel Durov announced technical changes to the messaging app after being arrested.
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