Assassination Attempt On Trump 😲

Good morning. It's Monday, Jul. 15, and we're covering TSMC's Second-Quarter Profit Set To Soar 30%, Alphabet To Acquire Cybersecurity Startup Wiz For A Record Of $23 Billion, Spain Triumphs Over England To Secure Historic Fourth Euro Title, and much more. First time reading? Sign up to get this newsletter: Sign up here.

We always Listen and respond to questions and feedback, email us at [email protected]

MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.3 Trillion, a 4.10% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $58.61B, which makes a 15.22% increase.

• The total volume in Defi is currently $3.77B, 6.44% of the total crypto market 24-hours.

• The volume of all stablecoins is now $52.95B, which is 90.36% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 53.95%, a decrease of 0.31% over the day.

BUSINESS & FINANCE

TSMC's Second-Quarter Profit Set To Soar 30% Due To AI Chip Demand

TSMC, the world's largest contract chipmaker, is expected to report a 30% increase in second-quarter profit, driven by a surge in demand for AI chips. This growth is projected to bring the company's net profit to T$236.1 billion ($7.25 billion) for the quarter ending June 30. TSMC, which supplies major tech companies like Apple and Nvidia, has seen its stock reach record highs, bolstered by the AI boom.

Why It Matters: The company continues to expand, investing billions in new factories, particularly in the U.S., while maintaining most of its manufacturing in Taiwan. The positive outlook for TSMC's products is expected to support further growth in its stock price and the broader market. ( Read Deeper )

Sentient Secures $85 Million Seed Funding For Open-Source AI Vision

Sentient, an AI-crypto startup, secured an impressive $85 million in seed funding led by prominent investors like Peter Thiel's Founders Fund, Pantera Capital, and Framework Ventures. The startup, founded by a team including Polygon's Sandeep Nailwal and AI experts, aims to pioneer an open-source artificial general intelligence (AGI) platform. This ambitious goal, challenging established giants like OpenAI, aims to monetize AI models through community contributions, potentially disrupting the AI industry's centralized norms.

Why It Matters: The seed funding of $85 million for Sentient marks a pivotal moment in the AI-crypto sector, highlighting growing investor confidence in open-source AGI platforms. This investment underscores a shift towards democratizing AI development and challenges established closed-source models, potentially fostering greater innovation and community involvement in AI technologies. ( Read Deeper )

TECHNOLOGY & SCIENCE

Alphabet To Acquire Cybersecurity Startup Wiz For A Record Of $23 Billion

Alphabet Inc., the parent company of Google, is on the brink of acquiring cybersecurity firm Wiz for an estimated $23 billion. Wiz, originally founded in 2022 in Israel and now headquartered in New York, has swiftly emerged as one of the world's fastest-growing software startups. Wiz specializes in cloud security solutions, providing deep insights into organizational cloud environments. The potential acquisition by Alphabet represents a bold strategic push into the cybersecurity sector at a time when regulatory scrutiny over tech industry mergers has intensified under the Biden administration.

Why It Matters: The acquisition, if finalized, would mark Google's largest-ever deal and exemplify its deepening commitment to cybersecurity amid escalating global threats. Despite ongoing antitrust scrutiny, Google's pursuit of Wiz highlights its strategic focus on cloud security capabilities. Wiz, which recently raised $1 billion at a $12 billion valuation, serves 40% of Fortune 100 companies and operates globally with plans for substantial workforce expansion. ( Read Deeper )

Whistleblowers Accuse OpenAI Of Illegal NDAs, Sparking SEC Investigation

Whistleblowers have alleged that OpenAI imposed illegal restrictions on its employees regarding communication with government regulators. According to a letter obtained by The Washington Post, lawyers representing anonymous sources sent a formal complaint to Securities and Exchange Commission (SEC) Chair Gary Gensler, urging an investigation into OpenAI’s employment practices. The letter highlights concerns over OpenAI’s severance, non-disparagement, and non-disclosure agreements (NDAs), which allegedly prevent employees and investors from freely communicating with the SEC regarding potential securities violations.

Why It Matters: It also claims that these agreements coerce employees into waiving their rights to whistleblower incentives and require them to notify the company of any communication with government regulators. the whistleblowers allege that OpenAI’s previous NDAs violated labor laws by mandating overly restrictive contractual terms for employment, severance packages, and other financial considerations. ( Read Deeper )

AROUND DE WORLD & POLITICS

Assassination Attempt On Trump and President Biden Seek Unity

Donald Trump survived an assassination attempt at a campaign rally in Pennsylvania, where a gunman fired at him, injuring two others and killing one person before being shot dead by Secret Service agents. President Joe Biden ordered a review of the security breach and called for calm and unity, emphasizing the need to reduce political violence. Trump, arriving in Milwaukee for the Republican National Convention, expressed relief and adjusted his upcoming speech to reflect the need for unity. The convention will proceed as planned with heightened security.

Why It Matters: The FBI and Secret Service are investigating the incident. The gunman, identified as Thomas Matthew Crooks, had legally obtained the weapon. Authorities found no ideological or mental health issues linked to the suspect. The shooting has intensified the already heated political climate. Biden and Trump had a private conversation after the incident. Public officials and residents expressed shock and called for political disagreements to be addressed peacefully. ( Read Deeper )

Thomas Matthew Crooks Identified As Shooter In Trump Assassination Attempt

Thomas Matthew Crooks, a 20-year-old from Bethel Park, Pennsylvania, is identified as the shooter who attempted to assassinate Donald Trump at a campaign rally. Crooks, armed with an AR-15-style rifle, opened fire from a rooftop, killing one attendee and injuring two others before being shot dead by a Secret Service sniper. Crooks, a kitchen worker at a nursing home, was a registered Republican and had a membership at a local shooting club. He had no known ideological motives or mental health issues, and his father had purchased the weapon used in the attack. Suspicious devices were found in Crooks' vehicle, prompting a bomb investigation at his home.

Takeaway: Investigators are trying to understand his motive. Former classmates described Crooks as quiet and intelligent, passionate about history. The community of Bethel Park is in shock, struggling to reconcile the attack with the Crooks they knew. During the incident, one person, Corey Comperatore, was killed while protecting his family. Two others were injured. Trump, who was hit in the ear, is recovering and grateful to law enforcement. ( Read Deeper )

ENTERTAINMENT & SPORTS

Spain Triumphs Over England To Secure Historic Fourth Euro Title

In a thrilling Euro 2024 final on Sunday, Spain clinched their fourth European Championship title by defeating England 2-1 in Berlin. The match, filled with drama and intense competition, showcased Spain's dominance throughout the tournament and their resilience in the face of a talented English squad. The decisive moment came in the 86th minute when substitute Mikel Oyarzabal broke the deadlock with a superb finish past England goalkeeper Jordan Pickford. ( Read Deeper )

Alcaraz Dominates Djokovic To Retain Wimbledon Title

Carlos Alcaraz delivered a masterclass performance to clinch the Wimbledon men's singles title, overpowering Novak Djokovic in straight sets and retaining his crown on the prestigious Centre Court. In a rematch of last year's final, which saw Djokovic narrowly edged out in a thrilling five-setter, this year's encounter was one-sided from the outset. Alcaraz, showing dominance and composure throughout, cruised to a 6-2, 6-2, 7-6 (7-4) victory over the Serbian maestro. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Why do some entrepreneurs thrive while others struggle to get their businesses off the ground? ( Listen )

EXTRA BREVITI

• Jumia, the Africa-focused e-commerce platform, has seen its market capitalization soar past $1 billion as renewed investor confidence from Wall Street propels its stock. ( Read More )

• Elon Musk endorses Donald Trump shortly after ex-president injured by shots fired at rally ( Read More )

• Lautaro Martinez scores an extra-time winner to give Argentina a 1-0 Copa América win over Colombia ( Read More )