Weekly Market Report. April 12, 2024

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April 12, 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

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One of Elon Musk’s newer companies is eyeing an $18 billion valuation 😲

The Wall Street Journal reported Friday that investors close to Elon Musk are in talks to help xAI raise $3 billion as part of a new fundraising round that would value the artificial intelligence startup at $18 billion.

Hong Kong’s Incoming Spot Bitcoin ETFs Could Be ‘Big Deal 🤔

Heightened anticipation for spot-based bitcoin ETFs in the U.S. and the eventual inflows supercharged bitcoin’s run-up to new all-time highs, and now Hong Kong regulators reportedly are inching closer to approving similar funds, news that thus far has been mostly unnoticed in crypto circles.

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Goldman Sachs among Wall Street titans backing BlackRock’s Bitcoin ETF 🧐

Goldman Sachs, UBS, Citadel Securities, and Citigroup have been selected to be authorized participants (APs) for BlackRock’s spot Bitcoin exchange-traded funds (ETFs) IBIT, according to a post-effective amendment dated April 4, 2024.

📈 Market Data

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2024 Halving Date ETA: April 19, 2024

🚨 Important News This Week

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AI

  • OpenAI just dropped a new ‘majorly improved ‘ version of GPT-4-Turbo

  • TikTok to Introduce AI Virtual Influencer Feature

  • AI Plans for New Business Venture Shared by Former Binance Boss CZ

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Tech

  • Tesla Is Going All In on Robotaxis

  • Trudeau announces $1.8B package to boost Canada’s AI sector

  • Instagram to crack down on teen sextortion


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Business

  • The Fed might not be done raising interest rates just yet
  • Toyota sells only two electric vehicles
  • Brazil Easing Cycle Seen Shorter After US CPI

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Crypto

  • Terra Luna Classic as LUNC Plummets 30% in a Month

  • Grayscale CEO Reveals When GBTC Fees Will Go Down Amid Concerning Outflows

  • Ripple CEO Brad Garlinghouse Hits Back at Scammers, Vows to Fight Fraud

🚨 Notable Companies Secure Impressive Investments

  • Lumoz has raised $6M in a pre-Series A round backed by OKX Ventures and others

  • Monad Labs has raised $225M in a funding round led by Paradigm

  • Mezo has raised $21M in a Series A funding round led by Pantera Capital

  • OpenTrade has raised $3.2M in a Seed funding round backed by a16z CSX and others

  • Sapien has raised $5M in a seed funding round backed by Animoca Brands and others

  • Bitcoin miner manufacturer Auradine raised $80M in a Series B funding round

  •  Alpen Labs has raised $10.6M in a seed funding round led by Ribbit Capital

  • Tomo has raised $3.5M in a Seed funding round led by Polychain Capital

🎙️ The Future of Web3 and AI: A Deep Dive with James Ho

The Future of Web3 and AI: A Deep Dive with James Ho

🤣 Meme of the Week

🫰Love What You Read?

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If you have any questions, please contact me directly in my email.

Sincerely,

Constantin Kogan

[email protected]