Crypto VC Outflows Were Weak in Q4 2023, Phantom MAUs Reach New Highs and Spot Bitcoin ETF Volumes Continue to Rise


Welcome to TechCrunch Crypto, formerly known as Chain Reaction.

To receive a roundup of TechCrunch’s biggest and most important crypto stories in your inbox every Thursday at 12:00 p.m. PT, subscribe here.

Hello and welcome to the new and improved TechCrunch Crypto newsletter. This is our fifth edition with, of course, regularly scheduled news stories, but also recurring segments and features — so if you like what you see (or not), let me know at

This week, roses were red, violets were blue, the crypto market was green – for all of you. If you follow me onyou may have seen me before post thisbut if you don’t, I share my love here too.

Anyway, let’s go. Here’s what you missed this week: Spot Bitcoin ETFs in the US had a month, crypto wallet Phantom hit new highs for monthly active users last month and crypto VC outflows were slow in the fourth quarter 2023. More information below.

Planning note: I will be OOO next week, so there will be no newsletter.

This week in web3

  1. Crypto outflows remain weak but investors remain unfazed
  2. Solana-based DeFi and airdrops propel Phantom crypto wallet user base to new heights
  3. This gaming startup is trying to show that “AI + crypto” is not a fad
  4. As spot Bitcoin ETF volumes continue to rise, Bitwise Asset Management predicts a high ceiling for growth.

Calculate numbers

This week, the crypto market looked pretty upbeat as the two largest cryptocurrencies by market cap, bitcoin and ether, both rose about 16.5% for the week, according to CoinMarketCap. data. THE total capitalization of the cryptocurrency market rose 14% over a seven-day period to $1.96 trillion.

Earlier this week, Solana also briefly became the fourth largest cryptocurrency by market capitalization, overtaking the BNB token, which has since regained its position. Solana’s market cap is about $3 billion behind BNB and its price is up almost 11% over the week.

Our favorite article “Crypto Twitter”

Calling all developers who didn’t have a date on Valentine’s Day and tweeting about it accumulations without knowledgethis one is unfortunately for you. For those who did have plans, maybe it’s time to fight back.

The last module

Chain Reaction produces a monthly series dedicated to different topics and themes related to cryptography. This month we are focusing on NFTs.

For this week episodeI interviewed Yat Siu, co-founder and executive chairman of Animoca Brands.

Yat co-founded Animoca in 2014 and has since invested in over 400 Web3 projects across a range of sectors such as DeFi, education, infrastructure, blockchain gaming and the metaverse.

Animoca also has its own NFT collections, blockchain products and games, such as its web3 NFT community Mocaverse, blockchain game and NFT collection REVV Racing and The Sandbox, a decentralized virtual world with over 40 million mobile installations. The company has also worked with other well-known brands and personalities, such as Disney, WWE, Power Rangers, The Walking Dead, Formula E and Snoop Dogg.

Yat and I discuss the importance of digital property rights, the growth of NFT communities, and what sets one project apart from the rest.

We also explore:

  • Evolution of the NFT IP
  • Develop brand awareness
  • Asia embraces Web3 and NFTs
  • The global race to adopt

To subscribe to Chain reaction on Apple Podcasts, Spotify or your favorite pod platform to follow the latest episodes, and leave us a comment if you like what you hear!

Follow the money

  1. Trading-Focused Architect Raises $12M Seed Round Led by BlockTower and Tioga Capital
  2. Fordefi raised $10M to launch wallet-as-a-service in funding round led by Electric Capital
  3. Anzen raised $4 million to provide access to returns backed by real-world assets
  4. Mercure DAO raises $1.5M for its web3 incubator
  5. Analog raised $16 million in funding round to build cross-chain infrastructure

This list was compiled with information from Messari as well as TechCrunch's own reporting.

What else do we write

Do you want to move away from the world of Web3? Here are some articles on TechCrunch that caught our attention this week.

  1. Bluesky and Mastodon users lead a fight that could shape the next generation of social media
  2. Foundry Group is closing its doors and will no longer raise funds
  3. ChatGPT will now remember – and forget – things you say to it
  4. Hackers Discover New Victims of TheTruthSpy Harassment Software: Is Your Android Device Compromised?
  5. If You're Going to Market, Your GTM Slide Needs to Be Awesome


Leave a Comment

Your email address will not be published. Required fields are marked *