Weekly Market Report. October 25, 2024

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October 25, 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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Teen’s mom sues Character.ai, alleging inappropriate bot led to son’s passing 😲

The 14-year-old boy’s last interaction was with a Character.ai chatbot before he shot himself in the head in February, his mom alleged in a lawsuit filed on Oct. 22.

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Bitcoin bull Michael Saylor reverses remarks on self-custody after backlash 🤔

MicroStrategy founder Michael Saylor backpedaled on his comment that big banks should take custody of Bitcoin following a torrent of backlash from the crypto community.

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Notcoin founder says Binance and ‘poor guys from nowhere’ are chasing success with Telegram games 🧐

Notcoin founder Sasha Plotinov argues companies big and small are building games on Telegram because of the potentially low cost of acquiring new customers.

📈 Market Data

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🚨 Important News This Week

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AI

  • Microsoft, OpenAI relationship said to be fraying
  • Nvidia Chief Makes Case for AI-First Companies
  • Coinbase sees AI agents and crypto driving economic boom day after CEO Brian Armstrong offers memecoin trading bot a wallet

icon tech

Tech

  • New Touch Tech: Bring Screen Time to the Blind

  • We Tried Apple’s New Hearing Test—and the New AirPods Pro Hearing Aids
  • LinkedIn Fined More Than $300 Million in Ireland Over Personal Data Processing

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Business

  • OpenAI projects $101B in revenue in 2029, losses reaching $16B by 2026

  • Google’s $2 Billion Anthropic Investment Faces U.K. Antitrust Scrutiny
  • TeraWulf to raise $350M in convertible notes for share repurchase

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Crypto

  • Ethereum ICO participant dumps 3,000 ETH for $7.6M cash out
  • Cardano unlocks $1.3T Bitcoin liquidity with BitcoinOS bridge integration
  • Trump election victory could push Bitcoin to $92K, says Bitwise exec

🇦🇪 Meeting top players in the industry

Co-Founder of Tether, CEO of Trust Wallet, CEO of STEPN, Ecosystem lead of TON foundation

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🚨 Notable Companies Secure Impressive Investments

  • Stripe has acquired Bridge for $1.1B in crypto’s largest purchase
  • Zerobase has raised $5M in a funding round backed by Binance Labs
  • Karpatkey has raised $7M in a funding round backed by AppWorks and Wintermute
  • Azura has raised $6.9M in a Seed funding round led by Initialized
  • Fluid Protocol has raised $3.9M in a Seed funding round backed by Animoca Ventures
  • Variational has raised $10.3M in a Seed funding round co-led by Bain Capital Crypto and Peak XV Partners
  • Party Icons has raised $9M in a Seed funding round led by Bitkraft Ventures
  • Genius has raised $6M in a Seed funding round led by CMCC Global
  • Skyfire has raised $1M in Strategic funding from Coinbase Ventures and a16z CSX

🤣 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]