Talks of bitcoin spot ETF approval flow into as India blocks alternate websites and crypto is seeing extra optimism

Welcome again to Chain Response.

Glad New 12 months! The crypto area has been off to a powerful begin for 2024 as reporters and ETF analysts have reported {that a} bitcoin spot ETF approval within the U.S. might be coming as quickly. Because of this, bitcoin’s value went over $45,000 on Tuesday, hitting its highest degree since April 2022. It has since retracted barely to $44,000 on the time of publication. The entire cryptocurrency market capitalization is rising at $1.68 trillion, the very best degree since Might 2022.

In different information, Monetary Intelligence Unit, an Indian authorities company, stated final Thursday that it has issued a discover to 9 world crypto exchanges — together with Binance, Kraken, Kucoin and Mexc — that they’re allegedly working “illegally” within the nation and have blocked their web sites. Extra particulars under.

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This week in web3

1. Crypto optimism within the age of the doomer
2. India to dam crypto exchanges Binance, Kraken web sites
3. Love ’em or hate ’em, NFTs can survive because of the communities that drive them (TC+)
4. Crypto losses declined over 50% in 2023 (TC+)
5. Hackers stole $2 billion in crypto in 2023, knowledge reveals
6. Why I’m modestly crypto-bullish in 2024 (TC+)
7. Why Puma is sticking to its web3 bets as crypto shakes off an extended winter (TC+)

The newest pod

For this week’s information episode, Jacquelyn dove again into the newest developments on spot bitcoin ETF purposes within the U.S. as anticipation builds.

Fred Thiel, the CEO of Marathon Digital Holdings, a digital asset expertise firm and largest publicly traded bitcoin mining agency, joined to assist break down the newest developments on spot bitcoin ETFs.

Because it stands, there are 14 asset administration companies, together with BlackRock, Constancy, Grayscale and VanEck, hoping to individually win approval from the U.S. Securities and Alternate Fee for his or her spot bitcoin ETFs. And a few stories at the moment are saying it would occur quickly given the frequent conferences and up to date filings in latest weeks.

We additionally mentioned what a spot bitcoin ETF might imply for buyers, establishments and miners, in addition to bitcoin’s value.

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Comply with the cash

1. Arkon Power raises $110 million to develop U.S. bitcoin mining capability, launch AI cloud service in Norway
2. Web3 gaming firm Portal closed a strategic spherical for an undisclosed quantity
3. Lending platform Tonka Finance raised $2.5 million in funding
4. Animoca Manufacturers invested into racing esports startup Veloce in pre-IPO funding spherical

This record was compiled with info 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. 23andMe tells victims it’s their fault that their knowledge was breached
2. I suppose I’m a projector particular person now?
3. Remembering the startups we misplaced in 2023
4. No, spiders don’t need to mate together with your viral physique butter
5. Greater than 40 buyers share their high predictions for 2024 (TC+)

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