In case you missed out: top crypto and Web3 news for November 3 in brief

A new day, new non-boring news from the world of Web3. Of course, as you may have understood from this short introduction, once again, cyber hacks and layoffs have not been spared. But there are also more positive moments, which we shortly and informatively describe next. Spoiler: this time without Elon Musk and Twitter!

SKYfall

Skyward Finance, a platform for issuing NEAR environmental tokens, was attacked. Through a contract exploit, more than 1.1 million NEAR (the equivalent of about $3 million) were stolen. The native token (SKYWARD) plummeted 88%, from $12 to $1.56.

We regret to inform you that the Skyward Treasury has been drained through a contract exploit, rendering the Treasury and the $SKYWARD token effectively worthless. However, current and previous token sales are unaffected.🧵

— Skyward Finance (@skywardfinance) November 2, 2022

Fear, layoffs and bribes at Bitmain

Leading Chinese cryptocurrency media outlet Wu Blockchain, citing insiders, reported that Bitmain, the world’s largest producer of bitcoin mining machines, has suspended mining machine division president and second-in-command Du Shisheng. According to him, Bitmain sent out a letter to all employees informing them that anyone who received or knows of a bribe from a customer or business partner will not be criminally liable if they report it to the company. Wu Blockchain has not commented on the connection between Du’s firing and the letters.

EXCLUSIVE: Multiple insiders have confirmed that Bitmain, the world’s largest producer of bitcoin mining machines, has released two full-staff letters, removing Du Shisheng, president of the mining machine business unit and the company’s second-in-command.

— Wu Blockchain (@WuBlockchain) November 3, 2022

Cars in the open sea

The only American team competing in the FIA Formula 1 World Championship, the Haas F1 Team, announced today a partnership with OpenSea, the largest NFT marketplace. As part of the partnership, branded NFTs will be created and the OpenSea logo will be on Haas F1 Team VF-22 Series cars.

All aboard as #HaasF1 and @OpenSea begin an exciting collaboration 🤝⛵

For more about the deal, see here! ⤵️https://t.co/FgWRF7cxUI

— Haas F1 Team (@HaasF1Team) November 3, 2022

This is the way

Mastercard has launched Start Path Crypto, a global program to support blockchain, cryptocurrency and digital asset startups to expand. Seven participants have so far decided to join Start Path: Digital Treasures Center, Fasset, Loot Bolt, Quadrata, Stable, TBTM (Take Back the Mic) Studios and Uptop.

Closer to the people

Elrond Network’s (ERD) Entity growth engine is now available to blockchain users and startup founders. The project was developed by Titan Stake and Istari Vision, an Elrond partner and full-service provider for projects.