Weekly Market Report. August 9, 2024

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August 9, 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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Bitcoin Bulls Revisit $100K Year-End Target as BTC Spikes Over $62K 😲

Bitcoin (BTC) briefly spiked over $62,000 before retreating during the Asian morning hours on Friday as the broader market rallied to reverse a steep rout from earlier in the week. The recovery has some bitcoin bulls revisiting their $100,000 year-end target.

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OpenAI worries people may become emotionally reliant on its new ChatGPT voice mode 🤔

OpenAI is worried that people might start to rely on ChatGPT too much for companionship, potentially leading to “dependence,” because of its new human-sounding voice mode.

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S&P 500, Nasdaq 100 Stage Big Comeback After Three-Day Selloff 🧐

Buyers waded into the stock market on Tuesday following a three-day rout fueled by fears of a US economic slowdown and extreme tech-sector valuations.

📈 Market Data

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🚨 Important News This Week

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AI

  • Microsoft, Palantir Team Up to Sell AI to US Defense, Intelligence Agencies

  • ChatGPT Now Lets You Generate Two Images Per Day For Free

  • Perplexity’s popularity surges as AI search start-up takes on Google

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Tech

  • Musk’s Riot Tweets Spur UK to Seek Tougher Online Rules

  • Amazon Deals Let Shoppers Buy Products on TikTok, Pinterest

  • TikTok is making it easier to find info on upcoming films and TV shows


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Business

  • Japanese security company Trend Micro is reportedly considering selling itself
  • Paramount Global Is Laying Off Thousands of U.S. Employees Global Is Laying Off Thousands of U.S. Employees
  • E-commerce tycoon Colin Huang tops China’s rich list

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Crypto

  • Binance, Bitfinex, OKX rush to register services in Turkey

  • Donald Trump Jr. is launching a crypto platform to ‘take on’ the banks

  • Ethereum Price Jumps 10% as Grayscale ETF Outflows Slow

🚨 Notable Companies Secure Impressive Investments

  • Cartridge has raised $7.5M in a Series A funding round led by Bitkraft Ventures

  • Ronin has returned stolen $10M worth of ETH

  • Andrena has raised $18M in a Series A extension round led by Dragonfly

  • Blockscout has raised $3M in a Seed funding round led by 1kx

  • Vessel has raised $10M in a Seed funding round backed by Sequoia Capital

  • Pentagon Games has raised $6M in a Seed funding round backed by Binance Labs

  • Moonveil has raised $3.6M in a Pre-Series A funding round led by Spartan Group

💰 Biggest Fundraising

Rounds in July​

Last month, over $1B was secured through 119 deals in crypto fundraising market.

(Source: Coinseeker.co)

  1. Iris Energy secured $413.4M in Post-IPO

  2. Block Mining secured $92.5M in M&A led by Riot Platforms

  3. Sentient secured $85.0M in Seed led by Pantera Capital, Framework Ventures, Founders Fund

  4. Partior secured $60.0M in Series B led by Peak XV Partners

  5. B3 fun secured $21.0M in Seed led by Pantera Capital

  6. Allium secured $16.5M in Series A led by Theory VC

  7. Lombard secured $16.0M in Seed led by Polychain Capital

  8. Caldera secured $15.0M in Series A led by Founders Fund

  9. Chainbase secured $15.0M in Series A led by Tencent, Matrix Partners

  10. ZAP secured $15.0M in funding round led by Rarestone Capital, Cypher Capital, Sharding Capital

🤣 Meme of the Week

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🫰Love What You Read?

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

Sincerely,

Constantin Kogan

[email protected]