Weekly Market Report. May 3, 2024

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May 3, 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

Meta, Alphabet Investors View Spending Through Different Lenses 😲

It must be galling to run a company that makes more than $50 billion in profit (yes, you read that correctly — $50 billion), and have your investors panic and freak out when you tell them you plan to spend just a fraction of that —$3 billion — more than you’d previously expected.

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‘Bitcoin enters ‘new era’ as whales scoop up over 47K BTC during price pullback 🤔

Bitcoin whales, which are large wallets holding at least 100 BTC, have accumulated over 47,000 BTC, worth over $2.9 billion at current prices, noted CryptoQuant founder and CEO Ki Young Ju in a May 3 X post:

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US warns rates to stay high as it battles inflation 🧐

The US central bank again said it would keep interest rates unchanged, noting a “lack of further progress” toward lowering inflation.

📈 Market Data

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🚨 Important News This Week

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AI

  • Apple CEO Tim Cook boasts of future AI plans after earnings beat

  • The insect farmers turning to AI to help lower costs

  • Techstars investigation and how AI is accelerating disability tech

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Tech

  • Starlink Persists in Unauthorized Areas Despite Shutdown Warnings

  • TikTok Tells Advertisers It Won’t Back Down as U.S. Ban Looms

  • X’s Block Button GetsTweaked


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Business

  • US job market shows signs of cooling, with just 175,000 jobs added in April
  • Rue21, a mall staple, files for bankruptcy and will close all of its stores
  • HSBC must prioritize Asian expertise in surprise CEO search

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Crypto

  • MicroStrategy Unveils ‘Orange’: Bitcoin-Based Decentralized ID Systemtakes shape with approvals

  • FriendTech Token Launches, Airdrop & Version 2 Go Live

  • Tether nets US$4.52 bln Q1 profit from investments

🚨 Notable Companies Secure Impressive Investments

  • L3E7 has raised $10M in a funding round co-led by Spartan Group and SevenX Ventures

  • MilkyWay has raised $5M in a Seed funding round co-led by Binance Labs and Polychain Capital

  • Securitize has raised $47M in a Strategic funding round led by BlackRock

  • Agora has raised $5M in a Seed funding round led by Haun Ventures

  • Baxus has raised $5M in a Seed funding round led by Multicoin Capital

  • Mitosis has raised $7M in a funding round led by Amber Group and Foresight Ventures

  • Shadow War has raised $5M in a Series A funding round led by Momentum 6

🤣 Meme of the Week

when someone says sell me the pen

🫰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]