Weekly Market Report. August 9, 2024

Greetings, curious minds! Join us on a journey into the cutting-edge. This newsletter unveils the latest trends shaping our world.?

Let's explore together! ????

?? Top Reads

Bitcoin Bulls Revisit $100K Year-End Target as BTC Spikes Over $62K ??

Bitcoin (BTC) briefly spiked over $62,000 before retreating during the Asian morning hours on Friday as the broader market rallied to reverse a steep rout from earlier in the week. The recovery has some bitcoin bulls revisiting their $100,000 year-end target.

OpenAI worries people may become emotionally reliant on its new ChatGPT voice mode ??

OpenAI is worried that people might start to rely on ChatGPT too much for companionship, potentially leading to “dependence,” because of its new human-sounding voice mode.

S&P 500, Nasdaq 100 Stage Big Comeback After Three-Day Selloff ??

Buyers waded into the stock market on Tuesday following a three-day rout fueled by fears of a US economic slowdown and extreme tech-sector valuations.

?? Market Data

?? Important News This Week

AI

• Microsoft, Palantir Team Up to Sell AI to US Defense, Intelligence Agencies
• ChatGPT Now Lets You Generate Two Images Per Day For Free
• Perplexity’s popularity surges as AI search start-up takes on Google

Tech

• Musk’s Riot Tweets Spur UK to Seek Tougher Online Rules
• Amazon Deals Let Shoppers Buy Products on TikTok, Pinterest
• TikTok is making it easier to find info on upcoming films and TV shows

Business

• Japanese security company Trend Micro is reportedly considering selling itself
• Paramount Global Is Laying Off Thousands of U.S. Employees Global Is Laying Off Thousands of U.S. Employees
• E-commerce tycoon Colin Huang tops China’s rich list

Crypto

• Binance, Bitfinex, OKX rush to register services in Turkey
• Donald Trump Jr. is launching a crypto platform to ‘take on’ the banks
• Ethereum Price Jumps 10% as Grayscale ETF Outflows Slow

?? Notable Companies Secure Impressive Investments

• Cartridge has raised $7.5M in a Series A funding round led by Bitkraft Ventures
• Ronin has returned stolen $10M worth of ETH
• Andrena has raised $18M in a Series A extension round led by Dragonfly
• Blockscout has raised $3M in a Seed funding round led by 1kx
• Vessel has raised $10M in a Seed funding round backed by Sequoia Capital
• Pentagon Games has raised $6M in a Seed funding round backed by Binance Labs
• Moonveil has raised $3.6M in a Pre-Series A funding round led by Spartan Group

?? Biggest Fundraising?Rounds in July

Last month, over $1B was secured through 119 deals in crypto fundraising market.?

(Source: Coinseeker.co)

1. Iris Energy secured $413.4M in Post-IPO
2. Block Mining secured $92.5M in M&A led by Riot Platforms
3. Sentient secured $85.0M in Seed led by Pantera Capital, Framework Ventures, Founders Fund
4. Partior secured $60.0M in Series B led by Peak XV Partners
5. B3 fun secured $21.0M in Seed led by Pantera Capital
6. Allium secured $16.5M in Series A led by Theory VC
7. Lombard secured $16.0M in Seed led by Polychain Capital
8. Caldera secured $15.0M in Series A led by Founders Fund
9. Chainbase secured $15.0M in Series A led by Tencent, Matrix Partners
10. ZAP secured $15.0M in funding round led by Rarestone Capital, Cypher Capital, Sharding Capital

?? Meme of the Week

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Constantin Kogan

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