Weekly Market Report. June 7, 2024

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June 7, 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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Musk’s Starship rocket makes breakthrough ocean landing 😲

Elon Musk’s mammoth new rocket system has returned to Earth in a groundbreaking fourth test flight that culminated in a first-ever soft ocean landing for the Starship vehicle.

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New law grants US president power to block digital asset access 🤔

A new U.S. law grants the president unprecedented authority to block access to digital assets, sparking significant concerns about its broad implications and potential impact on users.

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US Bitcoin ETFs Post Longest Run of Inflows as Token Nears Record 🧐

US exchange-traded funds investing directly in Bitcoin attracted net inflows for an unprecedented 18th straight day, a spurt of demand that has helped to lift the largest digital asset toward a record high.

📈 Market Data

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🚨 Important News This Week

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AI

  • Crypto-AI startups are getting the most funding now — and that could be a problem

  • Meta adds AI-powered features to WhatsApp Business app

  • OpenAI publishes paper to show it is tackling AI risks

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Tech

  • TikTok Parent Hires New General Counsel as App Fights US Government
  • iOS 18 to debut Apple Passwords app
  • Netflix trials biggest TV app revamp in a decade


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Business

  • Saudi Arabia Set to Raise Over $11.2 Billion From Aramco Stock Sale

  • Legacy Airlines Are Thriving With Ultracheap Fares, Crushing Budget Carriers

  • US economy added a whopping 272,000 jobs in May

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Crypto

  • The Sandbox raises $20M at $1B valuation, promises to expand creator economy

  • Binance Resumes Mastercard Payments for Crypto

  • Hong Kong Partners With Swiss Crypto Valley

🚨 Notable Companies Secure Impressive Investments

  • Avail has raised $43M in a Series A funding round co-led by Founders Fund, Dragonfly and Cyber Fund

  • Stashh Labs has raised $3.3M in a funding round backed by Animoca Brands and others

  • Fhenix has raised $15M in Series A funding round led by Hack VC

  • GoPlus has raised $10M in a Private Financing round

  • M^0 has raised $35M in a Series A funding round led by Bain Capital

  • Nubit has raised $8M in a Seed funding round led by Polychain Capital

  • Xociety has raised $7.5M in a pre-Series A funding round co-led by Hashed and Sui Foundation

🚀 Networking in Silicon Valley:

TradFi & Crypto VC Dinner

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🤣 Meme of the Week

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🫰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]