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Hi there. Welcome to the third version of the brand new and improved currencyjournals Crypto publication. As talked about above, we plan so as to add some recent common segments and options along with our frequently scheduled information. In case you like what you see (or don't), tell us at [email protected].
Have an amazing February, mates! We’re one-twelfth of the yr full. It wasn't that troublesome, proper? He solely has 11 extra to go by 2025.
As January drew to a detailed, hackers bought busy and stole. lots Massive improve in XRP tokens, Polygon cuts employees, new report exhibits demand for AI and blockchain collaboration, Ethereum developer curiosity hits new excessive final yr, Tether on report from This fall 2023 reported vital income. See under for particulars.
this week's web3
- Polygon Labs CEO publicizes that 60 individuals, or roughly 19% of workers, might be laid off
- AI and blockchain might have one another to evolve, in response to a brand new report (TC+)
- Hacker steals $112 million of cryptocurrency XRP Ripple
- Ethereum developer curiosity hits report excessive in 2023 regardless of bear market (TC+)
- Solana Cell nonetheless has an extended strategy to go earlier than breaking even (TC+)
course of numbers
The crypto market was fairly bullish this week as Bitcoin and Ether, the 2 largest cryptocurrencies by market capitalization, rose 7% and 4.4%, respectively, throughout the week, in response to knowledge from CoinMarketCap. The worldwide cryptocurrency market capitalization elevated by 5.2% in seven days to $1.62 trillion.
Individually, Tether reported a “report” internet revenue of $2.85 billion within the fourth quarter of 2023, accounting for 46% of final yr's complete internet revenue of $6.2 billion. Tether is the world's largest stablecoin by market capitalization and circulation, and the third largest cryptocurrency after Bitcoin and Ethereum. As of December 31, 2023, the corporate's complete property (backed by stablecoins) are $97 billion. It has roughly $91.6 billion in debt and roughly $5.4 billion in extra reserves, “totally overlaying” its $4.8 billion excellent secured loans. the report added.
In case you're considering, “That's a giant quantity,” you're proper. Please consult with the next.
Our Favourite “Crypto Twitter” Posts
After all of the discuss tethers…
this submit Matt Hougan, CIO of on X by Bitwise Asset Administration, speaks for itself. Sorry Goldman Sachs, however good luck subsequent quarter.
Tether made more cash final quarter than Goldman Sachs.Tether: $2.85 billion Goldman: $2.01 billion
newest pod
On this week's episode, we interview Chris Dixon, basic accomplice at enterprise capital agency Andreessen Horowitz (a16z).
Chris has been with the corporate since 2012, founding and main a16z's crypto staff that invests within the Web3 world by way of 4 giant funds with over $7 billion beneath administration. He’s additionally the writer of the not too long ago launched e book, Learn Write Personal: Constructing the Subsequent Period of the Web.
Previous to becoming a member of a16z, Chris co-founded two startups, SiteAdvisor and Hunch, which had been acquired by McAfee in 2006 and eBay in 2011, respectively. He additionally holds a Bachelor of Arts and Grasp of Philosophy levels from Columbia College and his MBA from Harvard College.
On this episode, we focus on the brand new e book, how the notion of cryptocurrencies has modified, and what objective blockchain can finally deliver to the world.
We can even focus on the next intimately:
- Massive Tech vs. Cryptocurrency
- The significance of decentralization
- a16z Investing in Web3
- blockchain video games
- embrace the long run
apply Chain response upon apple podcast, spotify Or atone for the most recent episodes utilizing your favourite pod platform. In case you like what you hear, please go away a overview.
comply with the cash
- Squid raises $4 million in strategic spherical to assist cross-chain interoperability
- Velar raises $3.5 million to construct perpetual decentralized alternate on Bitcoin
- Web3 gaming startup Yooldo raises $1.5 million, elevating valuation to $13 million
- Ithaca Finance, an options-focused protocol, raises $2.5 million in pre-seed funding
- Portal raises $34 million in seed spherical to develop decentralized Bitcoin ecosystem
This record was compiled utilizing data from Messari and currencyjournals's personal reporting.
what else are you writing?
Able to step outdoors the world of Web3? Listed below are some currencyjournals articles that caught our consideration this week.
- Why there is no such thing as a clear profitable pricing technique for B2B SaaS (TC+)
- Three San Francisco supervisors obtain threats after YC President Gary Tan's tweet
- Apple Imaginative and prescient Professional launches with over 600 apps and video games optimized for brand spanking new headset
- Senate listening to with 5 social media CEOs was a missed alternative
- Tech attrition will increase by three-quarters (TC+)
