Last week, total net inflows for spot Bitcoin ETFs surpassed $17 billion; the CrowdStrike global outage sparked discussions about decentralized systems; crypto exchange WazirX suffered a $234 million exploit; spot Ethereum ETFs readied for launch on July 23; and Allium raised $16.5 million in funding. Our Weekly Recap covers it all:

BTC ETFs Net Inflows Cross $17 Billion

Throughout last week, spot Bitcoin ETFs saw sustained inflows, continuing a trend from the previous week. On July 17, these ETFs recorded a net inflow of $422.5 million, the highest since June 5. Over the week, these products accumulated $1.197 billion in net inflows, eventually surpassing $17 billion in total net inflows.

WazirX Hacked

Indian exchange WazirX experienced an exploit on July 18, resulting in losses amounting to $234 million across multiple crypto assets. The attackers quickly exchanged the tokens for Ethereum (ETH). On-chain analyst ZachXBT attributed the hack to North Korea’s Lazarus Group.

WazirX issued a statement shortly after, emphasizing that the hack involved a mismatch issue with Liminal, who was responsible for verifying transactions related to the affected multi-sig wallet. Liminal refuted these claims.

Ethereum ETF Launch Date

Last week, the U.S. SEC reached out to prospective Ethereum ETF issuers to submit their final S-1 applications on July 17, with a possible approval on July 22 if there are no last-minute issues. This increased anticipation around the upcoming ETF products. Consequently, Ethereum witnessed increased interest, recording a two-week increase of 15% as of July 20.

BTC and CrowdStrike

A CrowdStrike update caused a global outage affecting digital systems across sectors like travel, banking, and media. As global operations came to a halt, some crypto industry leaders highlighted the benefits of decentralized systems. Pro-crypto U.S. Senator Cynthia Lummis emphasized Bitcoin’s immunity to such outages, stating on social media:

“Do you know what form of currency hasn’t been affected by widespread cyber outages? Bitcoin. Vires in Numeris.”

Crypto Startups Raise $33.75 Million

Despite a slow week for crypto VC funding, some of the largest rounds amounted to a combined $33.75 million. Blockchain data resource Allium led with $16.5 million in Series A funding. Meanwhile, Haruko secured $6 million, FinTech startup PEXX and cloud-providing platform Nirvana Labs each raised $4.5 million. Bima Labs saw a pre-seed funding of $2.5 million.

Stay informed with the latest updates and news on cryptocurrencies, investing, and finance right here on Global Crypto News.

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