Summary:
Bitcoin ETF investments continue to rise, exceeding $17 billion in total net inflows.
The launch of Ethereum ETFs is anticipated for July 23rd.
WazirX suffered a $234 million hack, attributed to North Korea's Lazarus Group.
The global outage highlighted the benefits of decentralized systems, like Bitcoin.
Despite a slower week, crypto funding remained strong, with $33.75 million raised across various projects.
Bitcoin ETFs Hit New Highs, Ethereum ETFs Nearing Launch
Last week saw a significant surge in Bitcoin ETF investments, with total net inflows exceeding $17 billion. This trend, which began the previous week, reached a peak on July 17th with $422.5 million in net inflows. The anticipation surrounding the upcoming Ethereum ETF launch, scheduled for July 23rd, has also driven increased interest in Ethereum, with a two-week price increase of 15% as of July 20th.
WazirX Suffers $234 Million Hack
Indian cryptocurrency exchange WazirX suffered a major security breach on July 18th, resulting in losses of $234 million across various crypto assets. The perpetrators quickly swapped the stolen tokens for Ethereum (ETH). Security experts have attributed the hack to North Korea's Lazarus Group.
Decentralization in the Spotlight
The recent global outage affecting various sectors, including travel, banking, and media, sparked discussions about the benefits of decentralized systems. Some prominent figures in the crypto industry highlighted the resilience of Bitcoin, which remained unaffected by the outage.
Crypto Funding Remains Steady
Despite a relatively slow week for crypto venture capital funding, several notable rounds occurred, totaling $33.75 million. Allium, a blockchain data resource, secured $16.5 million in Series A funding, while Haruko raised $6 million, and PEXX and Nirvana Labs each raised $4.5 million. Bima Labs received $2.5 million in pre-seed funding.
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