Weekly Market Report. August 23, 2024

August 23, 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

US job market gets biggest markdown since 2009 with 818K fewer jobs than previously reported 😲

The US economy wasn’t as hot as it seemed between early this year and early 2023, according to revised figures released by the feds. The nation’s labor market likely created 818,000 fewer jobs during the 12 months ended in March — the largest preliminary downward revision to US payroll figures since 2009, the US Bureau of Labor Statistics said Wednesday.

Bitcoin price taps $62K sell wall as analyst sees ‘up only’ for crypto 🤔

Data from Cointelegraph Markets Pro and TradingView showed new local BTC price highs of $62,323 on Bitstamp. Investors reacted warmly to confirmation by Fed Chair Jerome Powell that interest rates were now due to fall. “The time has come for policy to adjust,” he said during a speech at the annual Jackson Hole symposium.

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Blackrock Dethrones Grayscale Becoming World’s Largest Digital Asset Manager 🧐

For years, while GBTC and ETHE were traded over-the-counter (OTC) and hadn’t yet become publicly traded ETFs, Grayscale held the crown in onchain assets. However, the landscape has shifted. Blackrock, the global leader in asset management, is now the largest digital asset manager worldwide.

📈 Market Data

🚨 Important News This Week

AI

Grok-2 Is Pushing The Boundaries Of Ethics And Innovation
AI-powered coding pulls in almost $1bn of funding to claim ‘killer app’ status
‘Black Mirror’ creator says AI technology isn’t the problem: ‘It’s how you use it’

Tech

Apple announces even more big DMA changes in Europe
Chipmaker Microchip Hit by Cyberattack, Slowing Operations
Microsoft, Cyber Firms to Meet on Fixes After CrowdStrike Crash

Business

Starbucks is giving its new CEO Brian Niccol a private jet to commute
Real estate company helped to artificially inflate rents across America, Justice Department alleges
Nestle replaces CEO Schneider amid recent struggles

Crypto

Donald Trump Launches Crypto Platform ‘The DeFiant Ones’ To Challenge Traditional Banking Systems
Solana Gains Ground with Brazil’s Latest ETF Approval
Hong Kong Crypto Exchanges Face Challenges to Get Full Licenses

🚨 Notable Companies Secure Impressive Investments

Holonym has raised $5.5M in a Seed funding round co-led by Finality Capital and Paper Ventures
WSPN has raised $30M in a Seed funding round led by Foresight Ventures and Folius Ventures
Fabric Cryptography has raised $33M in a Series A funding round co-led by Blockchain Capital and 1kx
Gate Ventures launches $100M Web3 fund in collaboration with Abu Dhabi Blockchain Center
Soulbound has raised $4M in a funding round for Web3 social gaming ecosystem
Binance Labs-backed DIN has raised $4M in a Pre-listing funding round
YeagerAI has raised $7.5M in a Seed funding round led by North Island Ventures
Sorella Labs has raised $7.5M in a Seed funding round led by Paradigm

🤣 Meme of the Week

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