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.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- XRP Price Eyes $2 Support Level Amidst Market Correction
- PYTH PREDICTION. PYTH cryptocurrency
- OREO Unveils Six New Products for 2025
- Google’s Willow Quantum Chip Sparks Bitcoin Security Debate
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- Russell T Davies Says He “Kind Of Hopes” The Streaming Bubble Will “Pop”
- ‘Brides’ Finds a Distributor in Neon for Latest New Vampire Horror Movie
- India signals no fixed timeline for crypto rules, calls for global alliance
2024-07-21 16:55