A comprehensive overview of the week's events, updates and movements in the crypto space to stay up-to-date on the most important crypto stories and market-shaping events.

1. KEY TAKEAWAYS

• Crypto venture capital (VC) funds surge on growing investor confidence and new regulations.
• Standard Chartered extends its crypto and digital asset custody services to European Union clients
• Singapore becomes Asia's new crypto hotspot.
• Aave hits record highs in net deposits.
• MoonPay is one of the 4 exchanges awarded MiCA licenses.
• Israel embraces Bitcoin with six new funds.

2. CONTENT

💰 Crypto venture capital (VC) funds surged to $13.6 billion in 2024, recovering from $10.1 billion in 2023 but still below the 2021 peak of $32.4 billion, according to the DeFi Report. Big winners this year include Monad Labs ($225M for its smart contract network) and Babylon ($70M for its Bitcoin staking protocol).

Other highlights include Berachain raising $100M for its modular blockchain, and Securitize securing $47M from BlackRock for tokenization projects. Analysts predict even more growth in 2025, with VC funding expected to hit $18 billion, thanks to improving regulations and lower interest rates.

Avalon Labs ($10M for Bitcoin-backed DeFi), Usual ($10M for its stablecoin project), and Accountable ($2.3M for privacy-focused crypto credit data) are among the top participants. Binance Labs further supported the decentralized exchange Thena for cross-chain development.

💵 Standard Chartered, a British multinational bank with over $1 trillion in assets under management, has expanded its services to include the custody of Bitcoin and other cryptocurrencies in the European Union. This expansion was made possible by establishing a new entity in Luxembourg that complies with the EU's Markets in Cryptoassets (MiCA) legislation. This move is a key step towards the general acceptance of digital assets in traditional banking, with the goal of providing secure digital asset solutions to institutional investors.

Experts view this as a positive indication for growing Bitcoin acceptance in Europe, likely to prompt other financial institutions to follow suit and improve market liquidity.

🌏 Singapore is becoming a major hub for crypto in Asia, doubling its digital asset licenses in 2024 and showing its commitment to blockchain innovation. Its "balanced" rules aim to encourage growth while keeping investors safe.

This small nation of 6 million boasts over 1,600 blockchain patents, 81 crypto exchanges, and thousands of jobs in the industry. While Hong Kong tries to catch up, Singapore is leading the way as Asia's blockchain capital.

📊 Aave’s lending platform hit an all-time high of $33.4 billion in net deposits, surpassing even the heights of the 2021 bull market. Integrations with major blockchains like BNB Chain, ZKsync Era, Scroll, and Ether.fi brought new markets to the protocol, contributing an additional $2.55 billion to its ecosystem.

DeFi is making a strong comeback, with total value locked up by 150% by the end of 2024. Moreover, hacks are down by 40%, bringing some much-needed security relief. Aave’s massive success shows how DeFi is thriving in a more crypto-friendly environment.

💲 MoonPay is making waves, securing MiCA approval in the Netherlands while reportedly exploring a $150 million acquisition of Helio Pay. With its MiCA license, MoonPay can keep offering fiat-to-crypto and crypto-to-fiat services under Europe’s new comprehensive crypto rules, cementing its role in shaping a regulated crypto future in the EU.

The potential acquisition of Helio Pay could take MoonPay’s merchant services to the next level. Helio already supports over 6,000 e-commerce merchants and integrates with Solana Pay and Shopify, which attracts 138 million monthly users. If the deal happens, MoonPay could expand its global crypto payment reach, adding more tools for its 20+ million users across 160+ countries.

✡️ Israel is stepping into the crypto game with six new Bitcoin-tracking funds approved by regulators. Managed by top firms like Phoenix Investment and Migdal, these funds allow investors to gain Bitcoin exposure in shekels, offering both passive tracking and active strategies to outperform Bitcoin.

With management fees ranging from 0.25% to 1.5%, the launch highlights Israel’s growing interest in crypto investments. At the same time, the country’s Digital Shekel Challenge signals its intent to modernize the financial system, even as debates around privacy continue.

3. MARKET MOVES

📈 In the last 24 hours, Bitcoin's price moved +1.56% to $94.57k and trading volume moved -2.94% to $60.92b.

The crypto market remains as dynamic as ever, with new opportunities coming up every day. Whether you’re a seasoned trader, an investor or a beginner, this is your chance to stay ahead in the world of crypto.

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