Web3 News: Key Updates and Insights to Stay Informed

1ATH.Studio
2 min readApr 17, 2023

Each week, we provide essential web3 updates that you should be aware of. We encourage you to explore the latest significant developments today.

Elon Musk exposes Government´s unlimited access to Twitter DMs

Elon Musk has revealed that various government agencies were able to access all Twitter activities without any restrictions. This included private direct messages of users as well.

The disclosure raises concerns about the privacy and security of social media users.

Stablecoin Legislation Insight

Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, will join a US Congressional Committee hearing to provide insights on stablecoin payments legislation.

As a major stablecoin issuer’s key executive, Disparte’s participation will contribute valuable knowledge to the ongoing debate about stablecoin regulation and its potential impact on the industry.

The hearing, titled “The Future of Money,aims to address consumer protection concerns and explore opportunities for innovation in the digital currency world. Lawmakers are keen to establish a regulatory framework for stablecoins to ensure stability and growth.

Terraform’s Mystery Transfer

Terraform Labs’ founder, Do Kwon, reportedly transferred $7 million in Luna to an unknown law firm before the project’s collapse.

The transfer has raised suspicions about its purpose, adding to the intrigue surrounding the failed stablecoin project under regulatory scrutiny.

Stakeholders and investors are seeking answers, while the crypto community awaits further revelations about the funds’ destination.

De-Dollarization Accelerating

The global shift away from the US dollar is irreversible, says Russian official Peskov. Factors like digital currencies, instability, and tensions have sped up this trend.

As the world moves towards a more diversified financial landscape, the US dollar’s decline may have significant consequences for the global economy.

Trump: China threatens US Dollars. Defend it

The ex-President of the United States, Donald Trump, has cautioned that China’s efforts to depose the US dollar as the universal standard are equivalent to America’s defeat in a global conflict.

He stresses the critical importance of safeguarding the dollar’s position against this geopolitical challenge.

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