Weekly Market Report. October 4, 2024

October 4, 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

FTX bankruptcy estate auctioning Worldcoin tokens this week ??

The FTX estate is preparing to auction off approximately 22 million Worldcoin tokens — valued at roughly $38 million — on Oct. 3, a source familiar with the matter told Cointelegraph.

OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round ??

OpenAI has raised $6.6 billion in new funding, capping a complex fundraising processthat involved negotiations with multiple tech giants and large private investors at the same time it has been experiencing disruptive internal turmoil.

SEC files appeal in Ripple lawsuit ??

The United States Securities and Exchange Commission (SEC) filed a notice of appeal in the Ripple lawsuit on Oct. 2, seeking to overturn a ruling by Judge Analisa Torres.

?? Market Data

?? Important News This Week

AI

• AI to Have Human-Level Abilities in a Few Years, SoftBank CEO Son Says
• It's going to take AI to catch the darker side of AI
• Zukerberg's Wealth Soars to $201B as Meta Shifts Focus to AI and Metaverse

Tech

• Epic Games Sues Google, Samsung Over Alleged App-Store Scheme
• Teeth-Cleaning Robots , Red-Light Therapy: What’s Ahead for Dental Health
• Touch Screens Are Over. Even Apple Is Bringing Back Buttons.

Business

• Epic Games Sues Google, Samsung Over Alleged App-Store Scheme
• OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round
• Oracle Nearly Doubles Valuation to $157 Billion in Funding Round

Crypto

• Bitcoin traders stress ‘bullish’ market while BTC price threatens $60K
• Bitcoin ’s climb to $70k could trigger $1.6 billion in short liquidations
• Fidelity Ethereum ETF records largest daily outflows since launch

?? Notable Companies Secure Impressive Investments

• Binance Labs -backed SecondLive has raised $12M in a Private funding round
• RD Technologies has raised $7.8M in a Series A1 funding round backed by Solana Foundation
• OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia
• Infinite Giving has raised $2M led by Cubit Capital

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Sincerely,

Constantin Kogan

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