Bitcoin continues climbing, Block releases {hardware} pockets, Robinhood expands to EU and VCs might even see some reduction quickly

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It looks as if there’s a pep in each crypto individual’s step as bitcoin had one other sturdy week, rising over 15% to round $44,000, throughout a seven-day interval, in response to CoinMarketCap knowledge. Ethereum, the second largest crypto by market capitalization, additionally elevated over 15% throughout that timeframe, to round $2,300.

Typically, the whole crypto market cap steadily rose 14% from about $1.4 trillion to $1.6 trillion prior to now week as extra capital enters the crypto market.

As bitcoin climbs, it additionally rejoined the highest 10 membership for the “high belongings by market cap” globally. Bitcoin ranked in at quantity 9, trailing behind shares like Nvidia, Amazon, Google, Saudi Aramco, Microsoft, Apple and treasured metals like gold and silver, in response to CompaniesMarketCap knowledge.

Bitcoin’s whole market cap is at the moment about $854 billion, which accounts for over half of the whole crypto market cap.

What’s taking place in web3

1. As Bitcoin reaches the $44,000 threshold, why the surge and what’s subsequent? (TC+)
2. Block releases Bitkey {hardware} pockets to 95 international locations… kinda
3. Following UK enlargement, Robinhood brings crypto buying and selling to EU
4. Sona launches its music streaming platform and market to reward followers for purchasing ‘digital twins’ of songs
5. The enterprise panorama could also be on the ‘cusp’ of explosive development after years of macro pressure (TC+)

The most recent pod

For this week’s episode, Jacquelyn interviewed David Pakman, managing accomplice and head of enterprise investments at CoinFund.

Earlier than CoinFund, David spent 14 years on the enterprise capital agency Venrock. He additionally led the Sequence A and B rounds at Greenback Shave Membership, which was acquired by Unilever for $1 billion. And in 1991, David co-created Apple Music when he was part of Apple’s system software program product advertising group.

We mentioned the state of the crypto VC atmosphere, areas he’s specializing in for investments and what he thinks buyers are lacking.

We additionally talked about:

• AI in comparison with crypto
• Way forward for NFTs
• Regulatory affect on buyers
• 2024 outlook
• Recommendation for startups

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 assessment if you happen to like what you hear!

Observe the cash

1. Swan Bitcoin raised $40 million to broaden its institutional choices
2. Cash market and DeFi yield-focused Curvance raised $3.6 million in seed spherical
3. Bitcoin-based undertaking Babylon raised $18 million to develop its staking protocol
4. Ten raised $7.5 million to enhance Ethereum encryption
5. Ethereum-focused scaling startup Versatus raised $2.3 million at $50 million valuation

This record was compiled with data from Messari in addition to starcrypto’s personal reporting.

What else we’re writing

Wish to department out from the world of web3? Listed here are some articles on starcrypto that caught our consideration this week.

1. Why Congruent turned down over $300M from LPs for its third local weather tech fund (TC+)
2. Early impressions of Google’s Gemini aren’t nice
3. Your cellular password supervisor could be exposing your credentials
4. Why in-house platforms can undermine your online business technique (TC+)
5. Summer time’s secondary surge didn’t final, however 2024 must be sturdy (TC+)

Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.