Cryptocurrency startup Worldcoin wins $115 million, hackers hit the industry again

Cryptocurrency startup Worldcoin wins $115 million, hackers hit the industry again

We're recovered from Disrupt 2023 and gearing up for the highly anticipated Sam Bankman-Fried trial, which will start October 3. Keep an eye out for lots of coverage from us as it all unravels over a six-week period to determine whether the 31-year-old former CEO of FTX is guilty of seven counts of fraud and conspiracy. More to come.

It has been a challenging and slightly slower week for the crypto community, with many people in the tech industry reporting negative and slightly slower times over the past few weeks.

Black hat hackers, however, have hit the industry again. On Sunday, Hong Kong-based crypto firm Mixin lost about $200 million to hackers in a breach. The hack on Mixin, according to Rekt, is the biggest theft in the crypto world in 2023, according to Rekt data. What is the second largest hack you have ever seen? Katie Haun says that now is the right time to invest in Cryptocurrency.

On this week's show, Jacquelyn interviewed Tiago Sada, head of product for tools for humanity and a core contributor to Worldcoin, at TechCrunch's Disrupt 2023 in San Francisco.

The team behind Worldcoin has raised $115 million in a Series C round in May with investors like Blockchain Capital, a16z, Bain Capital Crypto and distributed Global. At a valuation of $3 billion, Worldcoin raised $100 million in March 2022.

OpenAI CEO Sam Altman co-founded the project with a three-phased goal to create a global ID, a global currency and an app that enables payments, purchases and transfers with its token.

Since April, Worldcoin has been trekking around the world, visiting major cities like Tokyo, Miami, New York City, and San Francisco. It has also set up shop in nations such as China, India and Kenya.

We dive into why someone would scan their eyes, alternate options and privacy concerns some skeptics have about the project.

We also talked about what he was talking about.

The startup wants to verify your ID without storing your personal data.