TechCrunch Crypto: Your Weekly Crypto News Destination

Welcome to TechCrunch Crypto, formerly Chain Reaction. To get a roundup of TechCrunch's biggest crypto stories delivered to your inbox every Thursday, subscribe here. This week's headlines include Worldcoin's updated Orb device, RoundTable's growth-stage crypto fund, and the latest on Terraform Labs and Ripple. The crypto market faced a decline, while NFTs saw a drop in sales volume but an increase in buyers. Solana Mobile's Chapter 2 smartphone has garnered strong demand with over 30,000 preorders. Stay tuned for our interview with Solana Labs co-founder Anatoly Yakovenko, and don't miss our weekly funding highlights and tech articles.

TechCrunch Crypto: A Comprehensive News Digest

Welcome to TechCrunch Crypto, your definitive source for the latest and most impactful news in the cryptosphere. Formerly known as Chain Reaction, this newsletter has undergone a transformation, featuring fresh recurring segments and insights. To stay abreast of the crypto industry's most pivotal developments, subscribe here and receive a curated roundup delivered to your inbox every Thursday at 12 p.m. PT.

This Week's Crypto Headlines

The crypto market has witnessed a period of relative calm, with the top two cryptocurrencies by market capitalization, Bitcoin and Ether, experiencing a modest decline of 7% and 13.5% respectively over the past week, according to data from CoinMarketCap. Despite this dip, the global crypto market cap has remained relatively stable, hovering around $1.55 trillion.

In the non-fungible token (NFT) space, sales volume has declined by 16.4% over a seven-day period, reaching $248 million. However, the number of buyers and sellers has grown by approximately 50%, as per data from CryptoSlam. The top three NFT collections by sales volume during this period were CryptoPunks ($19.33 million), CryptoUndeads ($12.36 million), and Ordinals ($8 million).

Binance Faces Legal Hurdles

Binance, the world's largest cryptocurrency exchange, appeared in court on Monday to contest a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) in June. However, the judge presiding over the case has expressed skepticism towards some of Binance's arguments, as highlighted by Fortune reporter Leo Schwartz. The SEC's lawsuit alleges that Binance's cryptocurrency offering constitutes an unregistered security, a claim that Binance disputes.

Solana Mobile's Saga Phone: A Growing Success

In this week's podcast episode, TechCrunch's Jacquelyn Melinek interviews Anatoly Yakovenko, co-founder of Solana Labs. The conversation revolves around Solana Mobile and its flagship web3-focused Android smartphone, Saga.

Saga, which initially sold out in mid-December, has been met with strong demand. Within its first 30 hours, the company's second phone, Chapter 2, garnered over 30,000 preorders, signaling the popularity of its next-generation web3-enabled smartphone. At the time of recording, Yakovenko revealed that preorders had surpassed 40,000.

Crypto Investments Gain Momentum

Despite the recent market fluctuations, venture capital investment in crypto and blockchain technology remains robust. Notable funding rounds include:

• Polymer Labs: $23 million for Ethereum blockchain interoperability
• Masa (Avalanche-based): $5.4 million for a "personal data network"
• Scene Infrastructure Company: $3 million for utility expansion of the FWB token
• Arcade2Earn: $4.8 million in private token round for web3 gaming
• Ingonyama: $21 million for advancements in zero-knowledge technology

Beyond Web3

For those seeking a broader perspective on the tech industry, here are some notable articles from TechCrunch this week:

• VCs remain bullish on fintech investments
• A retrospective on the 40th anniversary of the Macintosh computer
• Tesla anticipates slower EV sales growth in 2024
• A guide to navigating Series A fundraising in the current market
• Apple users urged to activate stolen device protection feature

Stay Connected

Subscribe to TechCrunch Crypto on Apple Podcasts, Spotify, or your preferred podcast platform to stay informed about the latest developments in the crypto industry. Your feedback is valuable, so please do not hesitate to share your thoughts and suggestions at jacquelyn@techcrunch.com.