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Welcome to TechCrunch Crypto, previously generally known as Chain Response. Alongside our commonly scheduled information bits, I’ll be testing out some recurring segments and options — so in the event you do (or don’t) like what you see, let me know at jacquelyn@techcrunch.com.
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A variety of information transpired within the wild world of web3: Solana Cell’s new system introduced in over 30,000 preorders, the extremely anticipated Electrical Capital developer report confirmed good — and dangerous — information for builders, Coinbase went to court docket and India confronted extra crypto woes. Extra particulars under.
This week in web3
- Buying frenzy for Solana Mobile’s second phone drives preorders sky high
- Coinbase argues for motion to dismiss SEC’s ‘securities violation’ allegations
- Number of monthly active crypto devs fell 25% in 2023
- Google pulls Binance, other global crypto apps from India store
- How low can bitcoin ETF fees drop before it hurts a business?
Crunching numbers
Because the crypto house soaks within the spot bitcoin ETF approval from final week, buying and selling volumes throughout all 11 issuers hit $11.95 billion with belongings in combination round $27.7 billion inside 4 days, in accordance with a post on X by James Seyffart, an ETF analyst at Bloomberg Intelligence.
Previous to the U.S. Securities and Trade Fee’s approval of the spot bitcoin ETFs, some consultants advised me they anticipated buying and selling volumes to hit $10 billion in a yr, not every week. So it’s secure to say these numbers are means forward of the beforehand anticipated demand.
Our favourite web3 submit on X
Franklin Templeton, a 77-year-old agency, which manages over $1.4 trillion in AUM, has a PFP with laser eyes (a nod to the Bitcoin neighborhood) and is posting about memecoins like dogwifhat. Wager you didn’t have that in your 2024 bingo card.
You’re not sure how one can really feel about Laser Eye Ben? Simply suppose as an alternative of Ben wif hat
— Franklin Templeton (@FTI_US) January 17, 2024
The newest pod
For this week’s episode, I interviewed Monica Lengthy, the president of Ripple, a blockchain-based digital fee community and protocol.
Ripple has been round since 2012 and is among the oldest crypto entities. Monica has spent the final 10 years at Ripple, working her means up from the director of communications to now, president.
We talked about Monica’s profession progress, cross-border funds, conventional finance and the necessity for regulatory readability.
We additionally dove into Ripple’s swimsuit with the SEC, the XRP Ledger, its focus for 2024 and recommendation for the neighborhood.
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please go away us a evaluation in the event you like what you hear!
Comply with the cash
- Inception Capital closes flagship $30M fund of funds targeted on crypto rising managers.
- Staking expertise supplier Kiln raises $17 million in uncommon crypto funding spherical
- COTI launches $25M ecosystem progress fund to give attention to privateness on Ethereum
- Crypto alternate WOO Community raises $9M to spice up its liquidity
- Digital asset buying and selling tech agency Flowdesk raises $50M in Sequence B spherical
This record was compiled with info from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week:
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