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💵 Weekly Crypto Fundraises & Deals

Here are all the crypto fundraises we heard about this week, ranked by size…

1. AltLayer, a Rollups platform, has raised $14.4M in a strategic funding round, co-led by Polychain Capital and Hack VC

2. Ethena Labs, the developer of the Ethereum-based stablecoin USDe, has raised $14M in a strategic funding round, co-led by Dragonfly and BitMEX founder Arthur Hayes 

3. DePHY, a DePIN infrastructure startup, has raised an undisclosed amount in a seed funding round at a $40M valuation,led by multiple investors 

4. Lava Network, a modular blockchain infrastructure developer, has raised $15M in a seed funding round ahead of its mainnet launch, led by Jump Capital

5. beoble, revolutionizing the Web3 social messaging space, has raised $7M, led by HashKey_Capital

🗞️ Crypto News Recap: The Top 5 Stories

Welcome back to This Week in Crypto… everything you need to know in one scannable format. Here are the top 5 stories of the week… 

1. 🚀 Starknet token begins trading on exchanges: Starknet’s native token STRK is set to begin trading on centralized exchanges later on Tuesday following the opening of distribution claims for nearly 1.3 million wallets.

2. 🎭 FixedFloat appears to have been exploited for $26.1 million in bitcoin, ether: Crypto exchange FixedFloat appears to have been exploited for $26.1 million in bitcoin and ether, according to on-chain data. Since the unexpected fund movements, the exchange has been put into maintenance mode and remains down.

3. ⚖️ FTX creditors file class action against bankruptcy lawyers over ties to FTX prior to its collapse: FTX’s bankruptcy law firm Sullivan and Cromwell is facing a class action that alleges it was so closely involved with the exchange prior to its collapse that it should be held partially responsible for its actions.

   

4. ⚖️ Celsius distributed $2 billion of crypto to creditors, court document shows: Celsius, the crypto lender that filed for bankruptcy in 2022, said in a court document filed Friday that it has distributed most of the crypto owed to its creditors. Celsius started the process at the end of January, and is on track to distribute $3 billion worth of crypto, it previously said.

   

5. 🚀Aptos and Jambo partner to empower emerging markets via web3 phone: The Aptos Foundation announced a partnership with Jambo Technology, a web3 developer for African markets, on Thursday. 

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💬 Tweet of the Week

📊 Key Stats of the Week

Here are the most important and interesting stats in crypto this week...

1. Sui 2x’s the TVL of Move competitor Aptos in 2024, reaching nearly $669M 

2. Pontem’s LiquidSwap crosses $33M TVL, approaches $11M weekly swap volume

3. Sui has faciliated over $18.7M in NFT volume all-time by current SUI prices, Fuddies project contributes ~32% of that having driven ~3.4M in SUI

4. A nice weekend for EigenLayer to flip Aave, becoming the third largest protocol on Ethereum in terms of TVL, with now more than $7.1B on their platform.

5. Over 220M tokens claimed STRK

6. Top Moving Coins From the Top 100

📝 Highlights from the Top Crypto Reports

Here are the top highlights from the best crypto research reports this week…

Reflexivity Research - Weekly Market Update #27

About the Author: Reflexivity Research, is on a mission is to bridge traditional finance into digital assets through our crypto native research. This is an excerpt from the full article, which you can find here.

Major developments for the week:

• Bitcoin ETF products saw total net inflows of $2.27 billion last week 

• Michael Saylor's MicroStrategy has seen its Bitcoin investment exceeds $4 billion in profits

• Bitcoin futures market starting to heat up, although far from levels reached during the peak of 2021

• Bitcoin CME Futures Open Interest reach $6.7 billion, marking new all time highs, as Ethereum CME futures open Interest hits $1 billion for the first time in over two years 

• Apecoin's 'ApeChain' will be powered by Arbitrum, following a majority vote of 50.35% that favored it over other options such as Polygon and zkSync

• Injective launched what is described as the "first ever" omnichain domain name service, supporting both Injective and Solana

• Solana Mobile has announced Snapshot 2, set for February 21st 7pm UTC

• Blast’s big bang competition will take place on Tuesday, February 20th

• Avalanche will undergo a $379.76 million unlock on February 22nd, 2024

• Delta neutral stablecoin Ethena announces $14 million raise

Bitcoin ETF products saw net inflows of $2.27 billion last week

Last week saw a significant surge in net Bitcoin ETF flows, increasing by $1 billion compared to the previous week. A substantial portion of this increase was driven by BlackRock's IBIT product, which attracted an impressive $1.6 billion, marking an approximately 170% increase from the week before.

Despite Grayscale experiencing $700 million in outflows since January 11th, Bitcoin ETF products have witnessed 16 consecutive days of net inflows. This has brought the total inflow figure to $4.9 billion.

Amongst the largest contributors of net inflows are Blackrock’s IBIT, Fidelity’s FBTC and Ark 21 Share’s ARKB.

🎧 Top Crypto Podcasts of The Week

Here are the crypto podcasts that are worth listening to this week...

1. Bankless - Endgame 2.0: A Guide to Vitalik’s Ethereum Roadmap

2. The Defiant - 💥Upcoming Solana Airdrops In 2024 (You’re NOT Late)

3. Coin Bureau - Killing Bitcoin, Riding To The Moon & Bull Market With Arthur Hayes!

4. Nathaniel Whittemore: SEC Chair Gensler's Feeble Anti-BTC Arguments Smacked Down on National TV

5. Blockworks Macro: Huge Bitcoin ETF Inflows Continue, Coinbase Earnings Beat | Weekly Roundup

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💬 Join The Coinstack Telegram Community

Join our Telegram Channel here to chat with our community, ask questions, and learn more about the future of money as we move to a decentralized internet and the creation of a new open global monetary system that works for everyone.

💬 The People We’re Following Closely on Twitter

1. Vitalik Buterin

2. Justin Drake

3. Hayden Adams

4. Hasu

5. Ryan Adams

6. Vance Spencer

7. Camila Russo

8. Ryan Selkis

9. Anthony Sassano

10. Lyn Alden

11. Gavin Wood

12. Cathy Wood

13. Beniamin Mincu

14. Barry Silbert

15. David Hoffman

16. Preston Pysh

17. Willy Woo

18. Ultra Sound Money List

19. Polkadot Ecosystem List

📚 How To Get Started With Crypto Learning

1. Crypto: Explain It Like I’m 5 (Article)

2. The Infinite Machine by Camila Russo (Book) 

3. Crypto Theses for 2021 by Messari (PDF)

4. Bankless - The DeFi community (Substack + Podcast + Discord)

5. Understanding Polkadot - The Next Generation Blockchain Tech (Website)

6. The Ethereum 2.0 Report from Messari (PDF)

7. Blockgeeks Video Tutorials (Video)

8. The Coinstack Website (Website)

9. 2008 Bitcoin Whitepaper (PDF)

10. 2013 Ethereum Whitepaper (PDF)

📰 The Coinstack Newsletter:

Tracking the most important blockchain stories of the 2020s, including a decentralized internet and the creation of a new open global monetary system that works for everyone. As always, published for informational purposes only. Please do your own research. Just our opinions. Not intended as financial advice as we are not financial advisors. We may own some of the digital assets we write about as we believe strongly in the sector. Please do your own research. Published and written weekly by Ryan Allis and Mike Gavela. 

Coinstack is a news and analysis newsletter for the digital asset industry. None of the information here is a recommendation to invest in any securities or other types of investments. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in loss.

Comments and thoughts are welcome on our Telegram channel:

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