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Web3 Gaming Sweeps Asia: The Unstoppable Trend and Its Impact

Welcome back to Chain Reaction.

The digital asset sphere continues its steady progress, and though there were notable headlines, the week presented a relatively calmer front (at least for the moment). Explore below for highlights that captured our attention.

This Week in Web3

The potential of a Bitcoin spot ETF could unleash a surge in broader cryptocurrency demand.

The uptake of web3 gaming is becoming prominent in Asia, potentially putting the rest of the globe in a race to catch up.

CoinDesk is making staff cuts in anticipation of a potential sale.

Worldcoin initially disregarded directives to halt the use of iris scans in Kenya, according to records.

For this week’s edition, Jacquelyn engages in a conversation with Eric Balchunas, a seasoned ETF analyst at Bloomberg, joined by Alex Wilhelm, the editor-in-chief of TechCrunch+.

Balchunas, known for his works “The Institutional ETF Toolbox” and “The Bogle Effect,” co-hosts Bloomberg’s podcast “Trillions” and the ETF IQ show.

Bitcoin exchange-traded funds (ETFs) focusing on spot trading have remained a topic of discussion within the crypto community for several years. Recently, they’ve garnered increased attention after Jacobi Asset Management listed Europe’s inaugural bitcoin spot ETF, almost two years following its initial approval. Concurrently, the U.S. Securities and Exchange Commission (SEC) has postponed the deadlines for bitcoin spot ETF applications.

We delve into the dynamics surrounding bitcoin spot ETFs in the U.S., their significance, and the likelihood of SEC approval in the near term. Furthermore, we explore Europe’s pioneering bitcoin spot ETF, the broader implications these investment vehicles could have on trading volumes at crypto exchanges, and what the future holds.

Web3 Gaming Sweeps Asia: The Unstoppable Trend and Its Impact 1
Image Credit – nftnewstoday

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Follow the Financial Trail

BitGo secures $100 million in Series C funding at a valuation of $1.75 billion.

ZetaChain, a cross-chain interoperability platform, raises $27 million to enhance its chain-agnostic capabilities.

ZTX, a web3 virtual world platform, secures $13 million in funding led by Jump Crypto.

Dinari, a decentralized stock trading platform, accumulates $7.5 million in seed funding.

HypeLab, a web3 startup with an advertising focus, secures $4 million.

This compilation draws from information provided by Messari as well as TechCrunch’s proprietary reporting.

Further Reading

Looking to diversify beyond the realm of web3? Here are several TechCrunch articles that piqued our interest this week.

The tech job market retains its robustness.

7 venture capitalists offer insights into why the creator economy remains resilient.

The pre-seed market demonstrates recovery, with investors increasingly holding the advantage.

Aligning product-market fit metrics with a company’s values remains relevant at any stage.

The startup landscape has undergone substantial shifts, demanding that accelerators adapt or fade away.

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