🧠Anthropic AI Model Can Control Your Computer

☀️Good morning. It's Wednesday, Oct. 23, and we're covering, China Think Tank Proposes $281 Billion Fund To Stabilize Stock Markets, Boeing Satellite Breaks Up In Space, Affecting Global Communications, E. coli Outbreak Linked To McDonald's Quarter Pounders Sickens 49, and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.54 Trillion, a 3.48% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $74.59B, which makes a 0.65% increase.

• The total volume in Defi is currently $7.18B, 9.68% of the total crypto market 24-hours.

• The volume of all stablecoins is now $65.55B, which is 87.88% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 51.84%, an increase of 0.30% over the day.

Bitcoin Options Traders Bet On $80,000 Target, Regardless Of U.S. Election Outcome

Options traders are betting on Bitcoin reaching new highs of $80,000 by the end of November, regardless of the outcome of the U.S. presidential election. Implied volatility for Bitcoin options expiring around the November 5 election is high, with a strong preference for call options, which give the holder the right to buy Bitcoin at a higher price. (Read Deeper)

BUSINESS & FINANCE

China Think Tank Proposes $281 Billion Fund To Stabilize Stock Markets

A top government-linked think tank in China has called for the issuance of 2 trillion yuan ($281 billion) in special government bonds to establish a market stabilization fund. This initiative, proposed by the Institute of Finance & Banking at the Chinese Academy of Social Sciences, aims to stabilize the market by buying and selling blue-chip stocks and exchange-traded funds (ETFs). The International Monetary Fund (IMF) also lowered its forecast for China's 2024 growth to 4.8%, down from a previous estimate of 5%, citing real estate sector challenges and low consumer confidence.

Takeaway: The Chinese government has launched various programs, including a re-lending facility to assist companies and shareholders in buying back shares and a swap facility to enhance liquidity for institutional investors. Chinese equities have seen a decline, with the CSI 300 Index down 7% from its October high. The think tank also recommended that China's central bank reveal its inflation indicators and targets, emphasizing the importance of anchoring long-term inflation expectations. (Read Deeper)

IMF Predicts Longer Inflation In Africa And The Middle East

The International Monetary Fund (IMF) has warned that inflation issues will persist in Sub-Saharan Africa and the Middle East, with many countries facing double-digit price increases. While advanced economies like the U.S. are seeing progress in reducing inflation, Africa is struggling with soaring costs for essential goods and services. Sudan leads with an inflation rate of 157.9%, followed by Egypt at 35.8% and Sierra Leone at 33.6%.

Takeaway: Food prices have particularly surged due to local challenges and global disruptions. While some major African economies may experience a decrease in inflation next year, Nigeria is expected to face ongoing challenges, with inflation projected to rise to 29.1% this year. Despite a potential easing in inflation for countries like Ghana and Kenya, Nigeria's situation remains dire, impacting the financial stability of its citizens. (Read Deeper)

TECHNOLOGY & SCIENCE

Anthropic Unveils New AI Model Capable Of Controlling Your Computer

Anthropic has released a new AI model, Claude 3.5 Sonnet, which can control desktop apps using an API called “Computer Use.” This model can mimic human actions on a computer, such as clicking, typing, and interacting with apps based on-screen analysis. Developers can try this feature through Anthropic’s API, Amazon Bedrock, and Google Cloud's Vertex AI platform. While other AI tools already perform automation tasks, Claude 3.5 Sonnet is a more robust model capable of handling complex objectives like coding tasks.

Takeaway: Claude 3.5 Sonnet model faces challenges. Initial evaluations reveal that it struggles with basic functions, such as scrolling and completing tasks accurately. Anthropic has acknowledged these limitations, emphasizing that the model’s capabilities will evolve as it learns from user interactions. To address concerns about potential misuse, Anthropic has implemented safety measures, including classifiers to discourage risky behaviors and partnerships with safety agencies for ongoing monitoring. (Read Deeper)

Boeing Satellite Breaks Up In Space, Affecting Global Communications

Boeing's iS-33e communications satellite has broken apart in orbit, resulting in a "total loss" confirmed by its operator, Intelsat. This incident has impacted customers in Europe, Africa, and parts of the Asia-Pacific region. Intelsat is conducting a comprehensive analysis and coordinating with Boeing and government agencies regarding the situation. The U.S. Department of Defense has reported tracking around 20 fragments from the satellite.

Takeaway: The satellite's breakup adds to Boeing's ongoing difficulties, including a strike involving over 30,000 workers in its commercial airplane division and issues with its Starliner spacecraft, which has left two astronauts stranded at the International Space Station. Boeing is also planning to lay off approximately 17,000 employees and has recently agreed to pay a fine related to past accidents involving the 737 MAX planes. (Read Deeper)

AROUND DE WORLD & POLITICS

E. coli Outbreak Linked To McDonald's Quarter Pounders Sickens 49

A deadly E. coli outbreak linked to McDonald’s Quarter Pounder hamburgers has sickened 49 people across 10 U.S. states, with one death and 10 hospitalizations reported. The CDC said infections occurred between Sept. 27 and Oct. 11, with most cases in Colorado and Nebraska. All affected individuals reported eating at McDonald’s; many mentioned the Quarter Pounder. Investigators are focusing on onions and beef as potential sources of contamination, with slivered onions from a single supplier being the primary suspect. McDonald’s has removed the Quarter Pounder from menus in affected states.

Takeaway: All individuals interviewed about the outbreak reported eating at McDonald’s before falling ill, with many citing the Quarter Pounder burger as a common meal choice. While no specific ingredient has been definitively identified, investigators are focusing on the hamburger’s onions and beef as potential sources. McDonald's has temporarily removed the Quarter Pounder from menus in the affected states and additional areas, including parts of Idaho, Nevada, New Mexico, and Oklahoma. (Read Deeper)

TSMC Informs U.S. Of Chip In Huawei Product After TechInsights Discovery

TSMC informed the U.S. government that one of its chips was found in Huawei's Ascend 910B AI chip, following a teardown by research firm TechInsights. This raises concerns over a potential violation of U.S. export restrictions on Huawei, which has been on a trade blacklist since 2019. TSMC, which stopped supplying chips to Huawei in 2020, reported the issue to the U.S. Commerce Department. The situation highlights challenges in enforcing export controls and Huawei's continued reliance on advanced chips.

Takeaway: Both Huawei and TSMC have stated they have adhered to the U.S. restrictions. Huawei has denied using TSMC chips post-2020, while TSMC indicated its commitment to monitoring compliance. The U.S. Commerce Department acknowledged being aware of potential export control violations but did not comment on any investigation. (Read Deeper)

ENTERTAINMENT & SPORTS

LeBron And Bronny James Become The First Father-Son To Play Together

LeBron and Bronny James made history, as the first father-son duo to play together in an NBA game during the Los Angeles Lakers' season opener against the Minnesota Timberwolves. The duo checked into the game together with four minutes left in the second quarter, receiving a warm ovation from the crowd. LeBron, the 39-year-old NBA's all-time leading scorer, had already played 13 minutes before teaming up with his 20-year-old son, Bronny, who was drafted by the Lakers as the 55th overall pick. (Read Deeper)

Pro Athlete Allegedly Stopped Sean 'Diddy' Combs During Sexual Assault At Ciroc Party

A new lawsuit against Sean "Diddy" Combs alleges that a professional athlete stopped him from sexually assaulting a man at a Ciroc vodka promotional party. The plaintiff claims that Combs, intoxicated, exposed himself, and forcibly grabbed the plaintiff’s genitals in a private office during the event. The situation was diffused when the athlete intervened. This case is part of several recent lawsuits against Combs, who has been accused of sexual misconduct by multiple individuals. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Marc Andreessen, a general partner at venture capital firm Andreessen Horowitz, expressed concerns about the current state of large language model (LLM) development, stating that the industry may be caught in a "race to the bottom." (Listen)

EXTRA BREVITI

• Hashem Safieddine, a senior Hezbollah leader and potential successor to the group’s assassinated leader Hassan Nasrallah, has been killed in an Israeli airstrike in southern Beirut. (Read More)

• An elite group of 17 individuals has achieved centibillionaire status, each boasting a net worth of over $100 billion. (Read More)

• In Russia, a controversial new policy allows individuals accused of crimes to avoid prosecution by joining the military and fighting in Ukraine. (Read More)

• Bitcoin’s $4.2B October Options Expiry Could Fuel Short-Term Volatility. (Read Deeper)