Weekly Market Report. June 7, 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

Musk's Starship rocket makes breakthrough ocean landing ??

Elon Musk's mammoth new rocket system has returned to Earth in a groundbreaking fourth test flight that culminated in a first-ever soft ocean landing for the Starship vehicle.

New law grants US president power to block digital asset access ??

A new U.S. law grants the president unprecedented authority to block access to digital assets, sparking significant concerns about its broad implications and potential impact on users.

US Bitcoin ETFs Post Longest Run of Inflows as Token Nears Record ??

US exchange-traded funds investing directly in Bitcoin attracted net inflows for an unprecedented 18th straight day, a spurt of demand that has helped to lift the largest digital asset toward a record high.

?? Market Data

?? Important News This Week

AI

• Crypto-AI startups are getting the most funding now — and that could be a problem

• Meta adds AI-powered features to WhatsApp Business app
• OpenAI publishes paper to show it is tackling AI risks

Tech

• TikTok Parent Hires New General Counsel as App Fights US Government
• iOS 18 to debut Apple Passwords app
• Netflix trials biggest TV app revamp in a decade

Business

• Saudi Arabia Set to Raise Over $11.2 Billion From Aramco Stock Sale
• Legacy Airlines Are Thriving With Ultracheap Fares, Crushing Budget Carriers
• US economy added a whopping 272,000 jobs in May

Crypto

• The Sandbox raises $20M at $1B valuation, promises to expand creator economy
• Binance Resumes Mastercard Payments for Crypto
• Hong Kong Partners With Swiss Crypto Valley

?? Notable Companies Secure Impressive Investments\

• Avail has raised $43M in a Series A funding round co-led by Founders Fund, Dragonfly and Cyber Fund
• Stashh Labs has raised $3.3M in a funding round backed by Animoca Brands and others?
• Fhenix has raised $15M in Series A funding round led by Hack VC
• GoPlus has raised $10M in a Private Financing round
• M^0 has raised $35M in a Series A funding round led by Bain Capital
• Nubit has raised $8M in a Seed funding round led by Polychain Capital
• Xociety has raised $7.5M in a pre-Series A funding round co-led by Hashed and Sui Foundation

?? Networking in Silicon Valley:?TradFi & Crypto VC Dinner?

?? Meme of the Week

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Sincerely,

Constantin Kogan

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