As a seasoned analyst with years of experience in the crypto industry, I find this week’s developments both intriguing and concerning. The surge in net inflows for spot Bitcoin ETFs is undeniably a bullish sign for Bitcoin’s price trend, but the recent CrowdStrike outage serves as a stark reminder of the vulnerabilities that centralized systems present.
Last week, the inflow of funds into Bitcoin spot ETFs exceeded $17 billion. The CrowdStrike incident initiated debates about the advantages of decentralized systems. WazirX experienced a significant exploit resulting in a loss of $234 million. The launch of Ethereum spot ETFs was announced for July 23. Allium secured $16.5 million in funding during this period. Our Weekly Recap provides an overview of these developments.
Crypto startups raise $33.75 million
- Despite a slow week for crypto VC funding, some of the largest rounds amounted to a combined $33.75 million. Blockchain data resource Allium led with $16.5 million in Series A funding.
- Meanwhile, Haruko secured $6 million, FinTech startup PEXX and cloud-providing platform Nirvana Labs each raised $4.5 million. Bima Labs witnessed a pre-seed funding of $2.5 million.
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2024-07-21 16:55