Welcome again to Chain Response.
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The digital asset house remains to be trucking alongside, whereas there have been some large headlines, the week was arguably rather less chaotic (for now). Take a look at what caught our consideration under.
This week in web3
- A bitcoin spot ETF could open the floodgates for wider crypto demand
- Web3 gaming adoption is skewing toward Asia, and the rest of the world may have to play catch-up
- CoinDesk to cut staffing ahead of potential sale
- Former FTX CEO Sam Bankman-Fried’s bail revoked ahead of October trial
- Worldcoin ignored initial order to stop iris scans in Kenya, records show
The newest pod
Balchunas is the writer of “The Institutional ETF Toolbox” and “The Bogle Impact.” He additionally co-hosts Bloomberg’s Trillions podcast and ETF IQ present.
Spot bitcoin trade traded funds, or ETFs, have been a scorching matter within the crypto neighborhood for a few years, however have not too long ago gotten extra consideration as a result of Jacobi Asset Administration itemizing Europe’s first bitcoin spot ETF nearly two years after its preliminary approval. In the meantime, the U.S. Securities and Alternate Fee not too long ago delayed deadlines for bitcoin spot ETF functions.
We dive into what’s occurring with the bitcoin spot ETFs within the U.S., why it issues and the chances of the SEC approving one within the close to future. We additionally speak about Europe’s first bitcoin spot ETF, how these funding automobiles on the whole may impression crypto exchanges’ buying and selling volumes and what else is in retailer for them.
Comply with the cash
- BitGo raised $100 million in its Collection C spherical at $1.75 billion valuation
- Chain-agnostic platform ZetaChain raised $27 million to enhance cross-chain interoperability
- Web3 digital world platform ZTX raised $13 million in spherical led by Leap Crypto
- Decentralized inventory buying and selling platform Dinari raised $7.5 million in a seed spherical
- Commercial-focused web3 startup HypeLab raised $4 million
This checklist was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed here are some articles on TechCrunch that caught our consideration this week.
- The tech jobs market is as strong as it ever was
- 7 VCs explain why the creator economy still has legs
- The pre-seed market is recovering, but investors increasingly have the upper hand
- It’s never too late to align product-market fit metrics with your company’s values
- The startup landscape has shifted dramatically: Accelerators must adapt or fade away
Comply with me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.