Bitcoin spot ETF quantity rose, Coinbase went to courtroom, Solana Cellular broadcasts new gadget and Google cuts crypto apps in India

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Numerous information transpired within the wild world of web3: Solana Cellular’s new gadget introduced in over 30,000 preorders, the extremely anticipated Electrical Capital developer report confirmed good — and dangerous — information for builders, Coinbase went to courtroom and India confronted extra crypto woes. Extra particulars beneath.

This week in web3

1. Shopping for frenzy for Solana Cellular’s second cellphone drives preorders sky excessive
2. Coinbase argues for movement to dismiss SEC’s ‘securities violation’ allegations
3. Variety of month-to-month lively crypto devs fell 25% in 2023
4. Google pulls Binance, different world crypto apps from India retailer
5. How low can bitcoin ETF charges drop earlier than it hurts a enterprise?

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 response to a publish on X by James Seyffart, an ETF analyst at Bloomberg Intelligence.

Previous to the U.S. Securities and Change Fee’s approval of the spot bitcoin ETFs, some consultants instructed me they anticipated buying and selling volumes to hit $10 billion in a 12 months, not per week. So it’s secure to say these numbers are manner forward of the beforehand anticipated demand.

Our favourite web3 publish 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 group) and is posting about memecoins like dogwifhat. Wager you didn’t have that in your 2024 bingo card.

You’re not sure 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 cost community and protocol.

Ripple has been round since 2012 and is without doubt one of the oldest crypto entities. Monica has spent the final 10 years at Ripple, working her manner 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 group.

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please depart us a assessment in case you like what you hear!

Comply with the cash

1. Inception Capital closes flagship $30M fund of funds targeted on crypto rising managers.
2. Staking expertise supplier Kiln raises $17 million in uncommon crypto funding spherical
3. COTI launches $25M ecosystem progress fund to deal with privateness on Ethereum
4. Crypto trade WOO Community raises $9M to spice up its liquidity
5. Digital asset buying and selling tech agency Flowdesk raises $50M in Collection B spherical

This listing was compiled with info from Messari in addition to starcrypto’s personal reporting.

What else we’re writing

Need to department out from the world of web3? Listed below are some articles on starcrypto that caught our consideration this week:

1. Welcome again to the Unicorn Membership, 10 years later
2. I spent the morning with the Apple Imaginative and prescient Professional
3. The aim of a startup is to stop current
4. Will startup valuations begin to get well in 2024? Traders aren’t so positive
5. As hacks worsen, SEC turns up the warmth on CISOs