Weekly Market Report. May 17, 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 preps ‘golden cross,’ which last sparked 170% BTC price gains ??

Liquidity at $67,000 and above remained a force containing upside, this totaling around $75 million at the time of writing, per data from monitoring resource CoinGlass.

China Attempts to End Property Crisis With Broad Rescue Package ??

Xi Jinping’s government announced its most forceful attempt yet to rescue the beleaguered Chinese property market, relaxing mortgage rules and urging local governments to buy unsold homes as authorities become increasingly concerned about the sector’s drag on economic growth.

Microsoft Plans Boldest Games Bet Since Activision Deal ??

Microsoft plans a major shake-up of its videogame sales strategy by releasing the coming installment of “Call of Duty” to its subscription service instead of the longtime, lucrative approach of only selling it a la carte.

?? Market Data

?? Important News This Week

AI

• Google is bringing Gemini capabilities to Google Maps Platform
• Stability AI in talks to raise money from investor group
• Snowflake Is in Talks to Buy Reka AI for $1 Billion

Tech

• TikTok is testing the ability for users to post HOUR-long videos
• Figma valued at $12.5 billion in tender offer backed by Fidelit
• Twitter's domain is now officially x.com, Elon Musk 'tweets'

Business

• GameStop Extends Rout on Falling Sales, Plan to Sell Shares
• PBOC Earmarks $42 Billion for State Buying of Unsold Homes
• US Fed officials suggest interest rates should stay high for longer

Crypto

• ‘Notcoin’ Airdrop Claim Opens as Binance Users Stake $14 Billion?
• Donald Trump Earns ‘First Crypto President’ Title
• XRP Whales Banking On Massive Bull Run With Billions Accumulated

?? Notable Companies Secure Impressive Investments

• Zest Protocol has raised $3.5M in a Seed funding round backed by Binance Labs
• Theoriq has raised $6.2M in a Seed extension round led by Hack VC
• Polymarket has raised $45M in a Series B funding round backed by Founders Fund and Vitalik Buterin
• Zeta Markets [Z] has raised $5M in a Strategic funding round led by Electric Capital
• Humanity Protocol has raised $30M in a Seed funding round led by Kingsway Capital
• Binance Labs-incubated Shogun has raised $6.9M in a Seed funding round
• Cross The Ages [CTA] has raised $3.5M in Equity round led by Animoca Brands

?? Meme of the Week

??? ?The Web 4.0 Revolution: A Deep Dive into Investment Strategies with Glass Ventures

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Sincerely,

Constantin Kogan

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