Welcome to TechCrunch Crypto, formerly known as Chain Reaction
Welcome to the latest edition of TechCrunch Crypto, our rebranded series previously known as Chain Reaction. Along with our usual news updates, we’ll also be adding some exciting new segments and features to the mix. So if you have any feedback, whether positive or negative, please let me know at jacquelyn@techcrunch.com.
If you’d like to receive a roundup of the biggest and most noteworthy crypto stories from TechCrunch every Thursday at 12 p.m. PT, be sure to subscribe here.
A lot of news transpired in the wild world of web3
From a surge in Bitcoin spot ETF volume to a lawsuit involving Coinbase, a new device announcement by Solana Mobile, and Google’s decision to cut crypto apps in India, the past week has been packed with updates in the web3 universe. Here’s a breakdown of all the developments:
Crunching numbers
Following the recent approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission, trading volumes across all 11 issuers reached a staggering $11.95 billion within just four days, with assets totaling around $27.7 billion. According to an article by James Seyffart, an ETF analyst at Bloomberg Intelligence, this far surpasses the estimated demand for a year’s worth of trading volume, highlighting the enthusiasm surrounding this milestone in the crypto space.
Our top pick from the web3 universe on X
Franklin Templeton, a 77-year-old firm managing over $1.4 trillion in assets under management, has joined the Bitcoin community and is even referencing memecoins like Dogwifhat. Who would have guessed that this would be worth discussing in 2024?
Are you unsure how to feel about Laser Eye Ben? Just imagine Ben wearing a hat instead – that’s what we’ll be doing for the time being. Follow their Twitter account for more entertaining insights into the intersection of traditional finance and web3.
The latest pod
For this week’s episode of Chain Reaction, I sat down with Monica Long, President of Ripple – one of the oldest entities in the crypto space, having been around since 2012. Monica has been with Ripple for the past decade, working her way up from Director of Communications to her current role.
We discussed various topics, including Monica’s career progression, cross-border payments, traditional finance, and the importance of regulatory clarity. We also delved into Ripple’s ongoing legal battle with the SEC, their XRP Ledger, plans for 2024, and advice for the community.
Don’t forget to subscribe to Chain Reaction on Apple Podcasts, Spotify, or your preferred podcast platform, and please leave a review if you enjoy the content!
Follow the money
Here’s a quick rundown of some of the recent headlines in the crypto funding landscape:
- Inception Capital closes a flagship $30M fund of funds focused on emerging managers in the crypto space.
- Staking technology provider Kiln raises a rare $17 million in crypto funding.
- COTI launches a $25M ecosystem growth fund with a focus on privacy on Ethereum.
- Crypto exchange WOO Network secures $9M in funding to boost liquidity.
- Digital asset trading tech firm Flowdesk raises an impressive $50M in their Series B round.
This list was curated using information from Messari as well as our own reporting here at TechCrunch.
What else we’re writing
If you’re looking to branch out from the world of web3, here are some articles from TechCrunch that may catch your attention:
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