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Welcome to TechCrunch Crypto, previously generally known as Chain Response.
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Whats up and welcome again to the TechCrunch Crypto publication.
To begin issues off, right here’s a shameless plug: I went on Yahoo Finance final week for a roundtable dialogue alongside Grayscale CEO Michael Sonnenshein, CoinDesk Indices managing director Andy Baehr and Matt Kohrs, host of the crypto-centric Matt Kohrs present.
We mentioned spot bitcoin ETFs, regulation of digital belongings and what the following period for crypto might seem like. Watch here.
It was an eventful week within the crypto world: bitcoin’s worth hit a brand new all-time excessive on Tuesday, Spain’s knowledge safety authority briefly banned Worldcoin and Binance raised eyebrows after making a crypto fragrance to have a good time Worldwide Girls’s Day.
Curious? Take a look at extra under.
This week in web3
- Bitcoin hits new all-time high passing $69,000 for first time since November 2021
- Binance made crypto perfume in a baffling attempt to woo women
- Worldcoin hit with temporary ban in Spain over privacy concerns
- OpenSea’s partnership with Coachella is a sign that NFTs can be more than profile pictures
- Binance to halt naira services amid ongoing regulatory probe in Nigeria
Crunching numbers
As talked about, this week the crypto house noticed all-time highs for bitcoin. However the grandfather of cryptocurrencies has since fallen about 3%, from round $69,000 to $67,000, on the time of publication. Nonetheless, bitcoin is up 6.5% on the week and 56% on the month. The second-largest crypto, ether, is up 9.7% on the week to $3,800, based on CoinMarketCap data. The total crypto market cap elevated 7.7% throughout the identical timeframe to $2.53 trillion.
Smaller tokens have additionally gained plenty of traction this previous week. Solana-based dog-themed memecoins noticed renewed curiosity after hype rose in December. Bonk and dogwifhat elevated 15% and 115%, respectively, on the week. Individually, Dogecoin and Shiba Inu, rose 19% and 125%, respectively, throughout the identical time interval.
Which begs the query…who let the canines out?
Our favourite ‘Crypto Twitter’ put up
Excuse the language, however should you didn’t understand how giant some memecoins develop into…perhaps now you’ll. When this X put up was written, dogwifhat (WIF) had a market capitalization thrice the scale of Spirit Airways’.
For what it’s price, it has declined since, however dogwifhat (WIF) has a market capitalization of $1.8 billion, which remains to be 213% greater than Spirit Airways.
Picture Credit: IcedKnife on X (opens in a new window)
The newest pod
Chain Response is doing a month-to-month sequence diving into completely different matters and themes in crypto. This month we’re specializing in blockchain and AI integrations.
For this week’s episode, I interviewed Dee Goens, the co-founder of Zora.
Zora is a platform and protocol that helps builders and creators deliver their concepts on chain and on Ethereum by means of an open and shared surroundings. The platform has minted greater than million NFTs, and has over $300 million in secondary gross sales and about 1 million distinctive collectors, based on its web site.
Goens beforehand labored at Coinbase for two.5 years doing danger administration, operations and model partnerships. Earlier than that, he analyzed rising applied sciences’ danger with a spotlight in blockchains at KPMG.
As we simply wrapped up our NFT sequence for February, Goens is the proper visitor to transition from that subject to AI and blockchains given Zora’s give attention to bringing AI on-chain.
In a primary for Chain Response, we additionally minted this podcast on Zora’s platform, which you can check out here.
Jacquelyn and Goens talk about how Zora envisions blockchains and AI working collectively, the roles they’ll play for NFT creators and what the platform’s builders and neighborhood members need extra of.
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the newest episodes, and please go away us a evaluate should you like what you hear!
Observe the cash
- Zama’s homomorphic encryption tech lands it $73 million on a valuation of nearly $400 million
- Taiko raises $37 million to construct web3 infrastructure for a censorship-free web
- Karma3 Labs raises $4.5 million to enhance belief in web3 with rankings and suggestions
- Utila raised $11.5 million in a seed spherical for its enterprise-grade crypto operations platform
- Safety infra startup Firewall raised $3.7 million to make sensible contracts mainstream
This checklist was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed here are some articles on TechCrunch that caught our consideration this week.
- Elon Musk sues OpenAI and Sam Altman over ‘betrayal’ of nonprofit AI mission
- And…Former Twitter CEO sues Elon Musk
- Roku disables TVs and streaming devices until users consent to new terms
- A leaky database spilled 2FA codes for the world’s tech giants
- When your cap table makes your startup uninvestable
- Target to launch its own version of Amazon Prime, starting at $49/year
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