Bitcoin spot ETFs heat up, SBF’s bail revoked and web3 gaming adoption grows in Asia

Welcome again to Chain Response.

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The digital asset house continues to be trucking alongside, whereas there have been some large headlines, the week was arguably rather less chaotic (for now). Take a look at what caught our consideration under.

This week in web3

1. A bitcoin spot ETF could open the floodgates for wider crypto demand
2. Web3 gaming adoption is skewing toward Asia, and the rest of the world may have to play catch-up
3. CoinDesk to cut staffing ahead of potential sale
4. Former FTX CEO Sam Bankman-Fried’s bail revoked ahead of October trial
5. Worldcoin ignored initial order to stop iris scans in Kenya, records show

The newest pod

For this week’s episode, Jacquelyn talks with Eric Balchunas, senior ETF analyst at Bloomberg, alongside TechCrunch+ editor-in-chief Alex Wilhelm.
Balchunas is the writer of “The Institutional ETF Toolbox” and “The Bogle Impact.” He additionally co-hosts Bloomberg’s Trillions podcast and ETF IQ present.
Spot bitcoin change traded funds, or ETFs, have been a sizzling matter within the crypto neighborhood for a few years, however have just lately gotten extra consideration on account of Jacobi Asset Administration itemizing Europe’s first bitcoin spot ETF virtually two years after its preliminary approval. In the meantime, the U.S. Securities and Trade Fee just lately delayed deadlines for bitcoin spot ETF purposes.
We dive into what’s occurring with the bitcoin spot ETFs within the U.S., why it issues and the chances of the SEC approving one within the close to future. We additionally discuss Europe’s first bitcoin spot ETF, how these funding autos usually might impression crypto exchanges’ buying and selling volumes and what else is in retailer for them.
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please depart us a overview if you happen to like what you hear!
Comply with the cash

BitGo raised $100 million in its Sequence C spherical at $1.75 billion valuation
Chain-agnostic platform ZetaChain raised $27 million to enhance cross-chain interoperability
Web3 digital world platform ZTX raised $13 million in spherical led by Soar Crypto
Decentralized inventory buying and selling platform Dinari raised $7.5 million in a seed spherical
Commercial-focused web3 startup HypeLab raised $4 million

This checklist was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing 
Wish to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.

The tech jobs market is as strong as it ever was
7 VCs explain why the creator economy still has legs
The pre-seed market is recovering, but investors increasingly have the upper hand
It’s never too late to align product-market fit metrics with your company’s values
The startup landscape has shifted dramatically: Accelerators must adapt or fade away

Comply with me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.