💰️Anthropic Seeks $2 Billion

Good morning. It's Wednesday, Jan. 8, and we're covering, Nomupay Raises $37M To Expand Cross-Border Payment Solutions In Asian Markets, Anthropic Seeks $2 Billion Funding At $60 Billion Valuation, Wildfire Forces 30,000 Evacuations In Pacific Palisades, Los Angeles Area, 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 $3.36 Trillion, a 6.15% decrease over the last 24 hours.

• The total crypto market volume over the last 24 hours is $170.03B, which makes a 32.71% increase.

• The total volume in Defi is currently $11.11B, 6.54% of the total crypto market 24-hours.

• The volume of all stablecoins is now $158.08B, which is 92.97% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.80%, an increase of 0.47% over the day.

Bitcoin Dips Below $98K As U.S. Economic Data Pushes Crypto Markets Lower

Bitcoin dropped below $98,000, losing over 4% of its value, following stronger-than-expected U.S. economic data. Reports on job openings and services sector activity sent bond yields higher, causing investors to reduce expectations for further rate cuts by the Federal Reserve. The rise in bond yields led to a sell-off in cryptocurrencies, with Bitcoin and major altcoins like Ethereum and Solana seeing significant losses. The market also experienced $300 million in liquidations, marking the first large leverage flush of the year. (Read Deeper)

BUSINESS & FINANCE

Nomupay Raises $37M To Expand Cross-Border Payment Solutions In Asian Markets

Nomupay, a Dublin-based fintech startup specializing in cross-border payments for underserved markets in Asia and the Middle East, has raised $37 million in funding at a $200 million valuation. The company, formed in 2023 from Wirecard’s regional payment licenses, has grown rapidly, doubling its revenue annually and projecting profitability this year with an ARR of $20 million.

Why It Matters: Nomupay addresses the complexities of fragmented payment systems in smaller markets often overlooked by major players like Stripe and Adyen. It operates in countries such as Malaysia, Thailand, and the Philippines, with plans to expand into Indonesia, Japan, and Vietnam. Recent acquisitions, like the U.K.’s Total Processing, aim to enhance its functionality and customer support. (Read Deeper)

OpenAI CEO Sam Altman Denies Sister's Sexual Assault Allegations

OpenAI CEO Sam Altman has denied allegations of sexual assault made by his estranged sister, Annie Altman, in a lawsuit filed on Monday. Annie claims the abuse occurred over a nine-year period starting in the 1990s, including incidents when Sam was over 18. The Altman family issued a statement calling the allegations "entirely untrue" and attributing them to Annie’s mental health struggles.

Takeaway: The Altman family expressed concern for her well-being, citing inconsistencies in her claims and previous accusations against family members. Sam Altman shared on social media that the lawsuit seeks punitive damages, which could include disclosure of his net worth. The family also noted years of financial support provided to Annie. (Read Deeper)

TECHNOLOGY & SCIENCE

Anthropic Seeks $2 Billion Funding At $60 Billion Valuation

Anthropic, an AI startup and rival to OpenAI, is in talks to raise $2 billion, potentially valuing the company at $60 billion. The funding round is led by Lightspeed Venture Partners, with other investors like Menlo Ventures expected to join. Amazon, which previously committed $4 billion in convertible notes, is not expected to add further funds at this time. Anthropic has gained traction in industries like finance and healthcare, with an estimated annual revenue of $875 million.

Why It Matters: The funding round and $60 billion valuation for Anthropic highlight the continued massive investor interest in AI startups, particularly those developing generative AI technologies. As one of OpenAI's main rivals, Anthropic's growth could intensify competition in the AI space. The large investments flowing into companies like Anthropic indicate the increasing reliance on AI technologies for businesses. (Read Deeper)

Meta Is Eliminating Third-Party Fact-Checkers And Introducing A Community Notes Model

Meta is overhauling its content moderation policies by eliminating its third-party fact-checking program and introducing a "Community Notes" model, akin to the one on Elon Musk's X platform. CEO Mark Zuckerberg explained that the aim is to enhance free expression, simplify policies, and focus on more severe violations. The company also plans to reintroduce political content and relax restrictions on sensitive topics like immigration and gender.

Takeaway: This move is seen as a step to repair relations with conservative figures, particularly Donald Trump, following Meta's previous censorship of political content and its suspension of Trump after the January 6 riot. Trump has praised the changes, and Meta is relocating its content moderation teams to Texas, signaling alignment with Republican values. (Read Deeper)

AROUND DE WORLD & POLITICS

Wildfire Forces 30,000 Evacuations In Pacific Palisades, Los Angeles Area

A devastating wildfire tore through the Pacific Palisades area of Los Angeles on Tuesday, fueled by extreme winds, prompting evacuations for tens of thousands of residents. California Governor Gavin Newsom visited the scene and reported that “many structures” had been destroyed, although the exact number has not been confirmed. Traffic gridlock hampered evacuation efforts as roads were blocked, and residents fled on foot, some abandoning their cars.

Takeaway: The blaze started in the morning, exacerbated by a powerful Santa Ana windstorm, which the National Weather Service warned could be life-threatening. By evening, the fire had consumed nearly 4.6 square miles of land and threatened over 13,000 structures, with about 30,000 people under evacuation orders. The winds, expected to worsen, had already left more than 28,000 households without power, and authorities had shut off power to thousands more to prevent additional sparks. (Read Deeper)

Trump Won't Rule Out Military Action To Take Control Of Greenland

President-elect Donald Trump hinted at the possibility of using military or economic pressure to gain control of Greenland, a Danish autonomous territory, after his son, Donald Trump Jr., visited the region. Trump Jr. arrived in Greenland to shoot content for a podcast and conveyed his father's greetings to the people there. Trump has previously expressed interest in acquiring Greenland, citing its strategic importance for U.S. economic security.

Takeaway: Greenland, rich in natural resources like oil, gas, and minerals. Denmark and Greenland's leaders have rejected these proposals, with Greenland asserting its autonomy and calling for full independence from Denmark. Despite this, Trump remains determined to secure control of Greenland, highlighting its importance for national security. (Read Deeper)

ENTERTAINMENT & SPORTS

LeBron James Stuns At 40 With Jaw-Dropping Dunk Against Mavericks

LeBron James, at 40 years old and in his 22nd NBA season, showcased his enduring athleticism with a stunning windmill dunk during the Lakers' game against the Dallas Mavericks. After a missed shot, teammate Max Christie set James up with a pass near the top of the key. James drove through the lane, switched the ball to his left hand mid-air, and delivered a powerful dunk over 7-foot-1 Mavericks center Dereck Lively. Though the Lakers lost 118-97, the play highlighted James’ continued excellence, effort, and ability to captivate audiences. Even at his age, he remains one of the NBA's most exciting and impactful players. (Read Deeper)

Chelsea Open Door For Kiernan Dewsbury-Hall's January Move

Chelsea have informed Kiernan Dewsbury-Hall that he is free to leave the club during the January transfer window if a suitable offer arrives. The 26-year-old midfielder, who joined Chelsea from Leicester City last summer, has struggled for playing time under manager Enzo Maresca despite being a key player for him at Leicester. The decision raises questions about why Chelsea signed him initially, only to deem him surplus to requirements a few months later. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• This 56-minute deep dive is perfect for couples looking to enhance their financial literacy and make the most of their earning power. (Listen)

EXTRA BREVITI

• Toyota is investing approximately $44 million in Interstellar Technologies, a Japanese space infrastructure company. (Read More)

• Nvidia CEO Jensen Huang claims the performance of Nvidia's AI chips is advancing faster than Moore’s Law. (Read More)

• Samsung Electronics has reported a disappointing fourth-quarter operating profit estimate of 6.5 trillion won ($4.47 billion). (Read More)

• Urgent Search for Survivors Continues After Devastating Tibet Earthquake. (Read More)

• Nearly 44 years after leaving the White House, former President Jimmy Carter returned to Washington, D.C., for a solemn state funeral. (Read More)