Weekly Market Report. October 18, 2024

October 18, 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

OpenAI, Bain Expand AI Partnership to Sell ChatGPT to Businesses ??

The two companies first announced a selling partnership in 2023, when they began introducing OpenAI technology to businesses. In August 2024, Bain’s 13,000 consultants received licenses for ChatGPT Enterprise, the version of the chatbot targeted at large companies.

Is Bitcoin price going to crash again? ??

Bitcoin’s price has rebounded by more than 7.5% in seven days after hitting a 10-week high of $67,922 on Oct. 15. However, a sharp correction in the coming days is possible based on several technical and onchain factors.

Google Backs New Nuclear Plants to Power AI ??

Google will back the construction of seven small nuclear-power reactors in the U.S., a first-of-its-kind deal that aims to help feed the tech company’s growing appetite for electricity to power AI and jump-start a U.S. nuclear revival.

?? Market Data

?? Important News This Week

AI

• Financial Firms Need to Focus on Cyber Risks Posed by AI, New York Regulator Says
• AI Boom Is Real—and Really Profitable—Says Chip Maker TSMC
• Adobe integrates AI model FireFly Video into Premiere Pro to take on OpenAI’s Sora

Tech

• Apple Headset Stalls, Struggles to Attract Killer Apps in First Year
• Nvidia Will Dominate Big Tech's Earning Season Again
• ASML has lost it position as Europe's most-valuable technology company

Business

• Ethereum , L2s to reach over 100K TPS with the 'Surge’ — Vitalik Buterin
• Non-custodial wallet aims to lead PayFi with a functional, real-life showcase
• Trump leads Harris, but POTUS won’t matter for Bitcoin: BlackRock’s Fink

Crypto

• Trump crypto coin WLFI sells $11M in initial offering, short of $300M goal
• RWA tokenization sector could see 50x growth by 2030: Report
• Hyperliquid prepares for HYPE token launch, EVM rollout on mainnet

?? Notable Companies Secure Impressive Investments

• Movement Labs in partnership with Gate Ventures and Boon Ventures to launch a $20M fund
• Binance Labs -backed Solv Protocol has raised $11M in a funding round
• Blockstream has raised $210M to drive Layer 2 growth and expand its Bitcoin treasury
• Azra Games has raised $42.7M in a funding round led by Pantera Capital
• Opacity Labs has raised $12M in a Seed funding round backed by a16z CSX
• Predicate has raised $7M in a funding round backed by Consensys?
• Bitnomial has raised $25M in a Series C funding round led by Ripple Labs
• Stablecoin Protocol Mento has raised $10M in a funding round
• Yellow Card has raised $33M in a Series C funding round led by Blockchain Capital
• Binance Labs -backed zkPass has raised $12.5M in a Series A funding round

?? Dubai Future Blockchain Summit 2024

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?? Meme of the Week

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Constantin Kogan

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