Top 3 - Week highlights from DAO and DeFi space

Hello Kailashers,

Here we go for the week highlights!

1st place - Tornado Sanctions

Turbulent week in web3 with regulation attacks. Centre Banned USDC Addresses After Tornado (a privacy DeFi protocol) Sanctions. The developer of Tornado was arrested in Amsterdam and users are reporting front-end blocking in some DeFi protocols for addresses that interacted with Tornado.

The challenge for DeFi is how to ensure privacy as human right and respect AML policies. The challenge for regulators is not killing innovation.

Cointelegraph @Cointelegraph

The Tornado Cash saga takes another twist. Authorities in the Netherlands have arrested a developer that is suspected to be involved in money laundering through the crypto mixing service. (Reporting via @coindanslecoin)

buff.lyDutch authorities arrest suspected Tornado Cash developerFinancial crime investigators in the Netherlands have arrested a developer suspected to be involved in money laundering through the crypto mixing service Tornado Cash.

2nd place - Reddit on Layer2

Layer-2s are scaling and finding product-market fit. Big news this week for Arbitrum, Ethereum Layer-2! They are the way to reduce the costs of using blockchain and bringing the mainstream users.

“Reddit, the popular social media platform with 400M monthly users and hundreds of thousands of topic-specific communities known as “subreddits,” will enable its communities to issue Ethereum-based tokens known as Community Points (based on Layer-2 Arbitrum).”

Arbitrum @arbitrum

What a day! The launch of Arbitrum Nova was a huge milestone for Arbitrum and the Ethereum community. But this wasn't the work of one team. We're thrilled to be joined by several web2 and web3 giants that help make Nova an out-of-this-world reality. Time for some shoutouts 📢

3rd place - Big Institutions integrating with Web3

Institutions as Blackrock, the world’s largest asset manager, and Meta will help to bring the mainstream to Web3. Blackrock’s investors will have direct access to crypto markets and Instagram users will connect web3 wallets to buy digital collectibles on the platform.

Coinbase @coinbase

We are proud to announce a partnership with @BlackRock. BlackRock’s Aladdin clients will now have direct access to crypto markets through Coinbase Prime. Read more 👇 blog.coinbase.com/coinbase-selec…

blog.coinbase.comCoinbase selected by BlackRock; provide Aladdin clients access to crypto trading and custody via…Tl;dr: Coinbase and BlackRock to create new access points for institutional crypto adoption by connecting Coinbase Prime and Aladdin

Meta Newsroom @MetaNewsroom

Mark Zuckerberg announced we’re rolling out digital collectibles to 100 more countries. Now, more people, creators and businesses can showcase their #NFTs on @instagram. We're also launching integrations with @CoinbaseWallet @hellodapper and support for @flow_blockchain.