Weekly Market Report. May 31, 2024

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May 31, 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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Donald Trump Found Guilty on All 34 Counts in New York Hush-Money Case 😲

Donald Trump became the first former president ever convicted of a crime, with a Manhattan jury finding him guilty Thursday of 34 felonies for falsifying records to cover up hush money paid to a porn star.

Subway Borrows $3.35 Billion in Biggest Securitization of Its Kind 🤔

Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record.

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Tether investing up to $150M in crypto mining firm Bitdeer 🧐

Tether has entered into a subscription agreement with Bitdeer to purchase up to $150 million worth of its shares in a private placement, according to an official announcement on May 31.

📈 Market Data

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🚨 Important News This Week

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AI

  • Google Explains Why Its AI Tool Told Users to Eat Rocks and Glue Pizzas

  • Apple Plans AI-Based Siri Overhaul to Control Individual App Functions

  • US Is Slowing AI Chip Exports to Middle East by Nvidia, AMD

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Tech

  • MongoDB shares sink 23% after management trims guidance

  • Dell’s Earnings: What It Means For The 2024 Market And AI Stocks

  • Fidelity Fund Raises Value of Stake in Musk’s X by 4.4% in April


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Business

  • Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse

  • China grants quotas under outbound investment scheme QDII after 10-month hiatus

  • Bill Ackman’s Pershing Square Capital could go public soon

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Crypto

  • TRUMP Token Sinks After Former U.S. President Is Found Guilty in New York

  • Ether Options Show a Spike in Open Interest for $5,000 Calls

  • Musk Counsels Trump on Crypto in Sign of Billionaire’s Sway

🚨 Notable Companies Secure Impressive Investments

  • OpenSocial has raised $5M in a Seed funding round led by Portal Ventures and SNZ

  • Anzen Finance has raised $4M in a Seed funding round backed by Circle Ventures and others

  • Aperture Finance has raised $6.7M in a Series A round co-led by Blockchain Founders, Krypital and Skyland

  • El Dorado has raised $3M in a Seed funding round co-led by Coinbase Ventures and Multicoin Capital

  • API3 has raised $4M in a strategic treasury diversification round led by DWF Labs

  • PlayAI has raised $4.3M in a Seed funding round backed by Jump Crypto

  • Babylon has raised $70M in a Pre-launch funding round led by Paradigm

  • ARPA Network has secured $6M in a strategic investment led by Laser Digital and DeFiance Capital

🤣 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]