WTF is happening with Bitcoin ETFs?

Welcome to the Crypto Scroll. Get caught up on all web3, defi, and crypto news in just one quick scroll. We do the homework so you don't have to. Powered by The Drop.

You can check out our previous articles and please follow us on Twitter!

gm Scrollers,

Mid-week update, not so mid news. TLDR: The first leveraged Bitcoin ETF launches and skyrockets with volume in the first day. Web3 startup fundraising is in a serious drought in Q2. Regulations are flipping in the U.S. after the institutional efforts led by BlackRock and pressure from international governing bodies. And tons of educational tools & articles we left in our ‘Education’ section for all of those trying to be more active & involved in the space!

• Developers want to revive Terra’s ecosystem (CT)

• Crypto market rises by $30B in 48 hours (B)

• SAP launches stablecoin payments trial (LI)

• The first leveraged Bitcoin ETF launches and hits $500k trading volume in first 15 minutes (@WhaleCharts)

• Kathy Wood’s says ARK Invest could be first in line for U.S. spot Bitcoin ETF approval (@BitcoinMagazine)

• Fidelity, which has $4.2T AUM, follows with application for spot Bitcoin ETF (WGURU)

• DeFi sector is the focus with a $50MM fundraising week (BW)

• Web3 firm Mythical Games raises $37M in series C funding (TB)

• Kaito hits $87.5MM valuation after fundraising for its crypto AI search engine (CD)

• Northstake’s $3MM raise for institutional crypto staking came from PreSeed Ventures, Morph Capital, Delta Blockchain Fund, FunFair Ventures, & Aventures Fund (CD)

• Mazzuma, a Ghana-based AI-powered smart contract startup, raises 6 figures of seed funding (WT)

• Metaverse projects are 44% of 2023’s web3 investments (YF)

• Q2 2023’s embarrassing web3 investment efforts (TC)

• Hong Kong bank allows customers to trade ETH and BTC ETF (TB)

• Japan’s Tax Agency updated its tax regulation to exempt crypto in certain situations (D)

• UK Law Commission’s impressive steps to being a crypto regulations leader (BTCST)

• Blockchain Australia announces new CEO with focus to not follow US in regulatory decisions (CT)

• Swiss authorities freeze $26M of Do Kwon assets (D)

• Swiss national bank props test of wholesale CBDC (P)

• Chibi Finance vanishes with $1M rug pull (TB)

• Iron Fish launches node application to allow privacy-conscious users to run a full node in one click (BZ)

• Azuki expands its NFT collection on ETH (D)

• Sleeping ETH Whale moves $18.6M of ETH (U)

• Syscoin developer launches Rollux Network which relies on Syscoin Blockchain’s “Bitcoin merged mining” system (CD)

• NEAR Foundation partners with Alibaba Cloud to accelerate Web3 growth in Asia (CD)

• Matter Labs releases ZK stack for building hyperchains (TB)

• Sui denies claims of dumping staked rewards on Binance (CT)

• Robinhood lays off 7% of employees & delists multiple cryptocurrencies (WSJ)

• How does a web3 browser work? (CCN)

• Can Tezos become any faster? (CD)

• Crowdfund $1MM for your web3 startup (ENTR)

• Bitcoin tax rates in Europe… 0% - 50% (@WhaleCharts)

• Web3 Marketing 101 (@addressableid)

Sponsored Content: There is no sponsored content in today’s newsletter