Weekly Market Report. September 13, 2024

September 13, 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 price eyes’ last dip’ before October breakout: Analysts ??

While not much is known about the Trump family’s crypto project, the latest statement from World Liberty Financial suggests it wants to spread the use of United States dollar-pegged stablecoins in decentralized finance.?

The AI Spending Spree, in Charts ??

Generative artificial intelligence has sparked one of the biggest spending booms in modern American history, as companies and investors bet hundreds of billions of dollars that the technology will revolutionize the global economy and one day lead to massive profits.

The College Dropout Who Invested Billions to Cozy Up With Elon Musk ??

He lurked in the crowd outside the 2005 Academy Awards and clandestinely scanned the cellphones of arriving celebrities. As expected, he found security holes that exposed the superstars to hackers.

?? Market Data

?? Important News This Week

AI

• OpenAI fundraising could push valuation to $150B
• Apple Intelligence rival secures $10M to develop open-source alternative
• Consensys and Hashkey-backed $50M accelerator launches for CARV data layer

Tech

• AI Will Force a Transformation of Tech Infrastructure
• AirPods Will Soon Be Hearing Aids—and More From Apple’s New AirPod Lineup
• SpaceX Astronauts Begin Spacewalk, Putting New Spacesuits to Test

Business

• Kevin Plank Broke Under Armour. Can He Fix It?
• WeWork founder’s crypto startup refunds investors after no token launch
• Major memecoins are down 63% on average despite market frenzy

Crypto

• Coinbase launches 'cbBTC' wrapped Bitcoin digital asset
• Proposed change could save Ethereum from L2 ‘roadmap to hell’
• Dogecoin Up 4.7%, Benefits From Another 'DOGE' Tweet By Elon Musk

?? Notable Companies Secure Impressive Investments

• Blocksense Network has raised $4M in a Seed funding round backed by a16z CSX
• Moku has raised $5.35M in a funding round co-led by Sky Mavis and a16z Games Speedrun
• DRiP has raised $8M in a Seed round co-led by NFX, Progression and Coinbase Ventures
• PIN AI has raised $10M in a Pre-Seed funding round backed by a16z CSX
• Castile has raised $8M in a funding round led by SevenX Ventures
• Huma Finance has raised $38M in Series A and Liquidity funding rounds

?? Web2.5, Market Trends, and Building a Successful Crypto Investment Portfolio

?? Meme of the Week

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Sincerely,

Constantin Kogan

[email protected]