Bitcoin Miners Rev Up Energy Consumption⛏️ X Network Expands to Smart TVs with Long-Form Videos 📺️

Good morning. It's Monday, Mar. 11, and we're covering Bitcoin Miners Rev Up Energy Consumption, Elon Musk's X Network Expands to Smart TVs, the Israeli Military's Construction of Road Dividing Gaza, 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 $2.61 Trillion, a 0.19% in the last 24 hours.

• The total crypto market volume over the last 24 hours is $110.63B, which makes a 24.99% decrease.

• The total volume in Defi is currently $10.62B, 7.38% of the total crypto market 24-hours.

• The volume of all stablecoins is now $98.27B, which is 88.83% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 51.95%, a decrease of 0.28% over the day.

Defi Total Value Locked Hits $100B Amid Bitcoin-Fueled Market Sentiment Surge

The global total value locked (TVL) in decentralized finance (DeFi) protocols has surged to $100 billion. Leading the charts in terms of locked assets is the liquid staking protocol Lido, with $38.7 billion locked on-chain, followed by EigenLayer and the Aave protocol, both boasting over $11 billion locked, respectively.

Why it matters: The milestone of $100 billion in DeFi TVL amid Bitcoin's market sentiment, reflects growing confidence, institutional interest, innovation, and market dynamics within the cryptocurrency and decentralized finance sectors. ( Read Deeper )

BUSINESS & FINANCE

Bitcoin Miners Rev Up Energy Consumption Amid Crypto Surge

Bitcoin miners are once again at the forefront, driving a surge in energy consumption and investment in specialized equipment. As Bitcoin's value skyrockets and the impending halving event looms, miners are ramping up operations to capitalize on the bullish market sentiment. Mining companies have witnessed substantial gains in their stock prices, reflecting the lucrative nature of the current market conditions. As Bitcoin's value continues to climb, miners stand to reap significant financial rewards.

Why It Matters: The increased mining activity has led to a record pace of energy consumption, with miners drawing unprecedented amounts of power to sustain their operations. ( Read Deeper )

Pfizer's Bold Move: Banking on Cancer Drugs Amidst COVID Decline

Pfizer is shifting its focus from COVID to cancer drugs, aiming to revitalize its business after a challenging year marked by the decline of its COVID-19-related ventures. The pharmaceutical giant, known for its COVID-19 vaccines, is now betting on oncology to drive future growth.

Why it matters: Pfizer has been navigating tough times, with its shares plummeting over 40% in 2023. Factors such as dwindling demand for COVID products and underwhelming launches have contributed to this decline, wiping out billions from its market value. To counter this, Pfizer has initiated a $4 billion cost-cutting program and laid off employees. ( Read Deeper )

TECHNOLOGY & SCIENCE

Salesforce's Behind-the-Scenes Co-founder Takes on Slack as Company Celebrates 25 Years

As Salesforce commemorates its 25th anniversary, co-founder Parker Harris is stepping into the spotlight to tackle new challenges, particularly in integrating Slack, the messaging platform acquired for $27 billion in 2021. Harris, who prefers working behind the scenes, now serves as Slack's technology chief, aiming to propel Salesforce into leadership in generative artificial intelligence (AI).

Why it matters: As companies increasingly rely on AI and cloud technologies to drive growth and innovation, leaders like Harris play a pivotal role in shaping the industry’s future and driving competitive advantage. ( Read Deeper )

Elon Musk's X Network Expands to Smart TVs with Long-Form Videos

Elon Musk's social network, X, is set to make a leap into the world of television with the introduction of long-form videos on smart TVs. This move comes as part of Musk's broader strategy to transform X into a multifaceted super app offering a wide range of services, from messaging to peer-to-peer payments. The TV app is expected to resemble popular streaming platforms like Google's YouTube, positioning X as a competitor in the increasingly crowded video streaming market.

Why it matters: By launching a TV app that rivals established platforms like YouTube, X Network enters into direct competition with dominant players in the streaming market. Elon Musk's ambition to challenge YouTube's dominance stresses the platform's potential to disrupt the status quo and provide users with choices for accessing video content. ( Read Deeper )

AROUND DE WORLD & POLITICS

International Forces Intercept Houthi Drones in Red Sea Following Attacks on Shipping

In a proactive response to recent attacks by Yemen's Houthi rebels on maritime targets, international military forces comprising the U.S., France, and Britain intercepted and neutralized multiple drones in the Red Sea region. The effort came after the Houthis targeted a bulk carrier and U.S. destroyers, prompting swift action from coalition forces to ensure the safety of naval and commercial vessels in the area.

Takeaway: The Red Sea is a vital maritime route for global trade, connecting Europe, Asia, and Africa. Any disruption to shipping in this region could have far-reaching economic consequences, impacting trade flows and supply chains worldwide. ( Read Deeper )

Israeli Military's Construction of Road Dividing Gaza Stirs Concerns

The Israeli military has been constructing a road that effectively splits the Gaza Strip in two, reaching the Mediterranean coast. This construction of the road is part of a larger security plan by Israeli officials and has raised alarm bells among Palestinians who fear it will result in further restrictions on their freedom of movement.

Takeaway: The development has drawn scrutiny from the international community, particularly human rights organizations and advocates concerned about the potential humanitarian impact on Gaza's civilian population. It highlights the ongoing need for diplomatic efforts to address the underlying grievances and achieve a lasting resolution to the conflict. ( Read Deeper )

ENTERTAINMENT & SPORTS

Anthony Joshua Dominates Francis Ngannou in Heavyweight Boxing Showdown

In a highly anticipated heavyweight boxing clash, former champion Anthony Joshua asserted his dominance over former UFC heavyweight titleholder Francis Ngannou, securing a resounding victory in the second round of their bout.
From the opening bell, Joshua took control of the fight, utilizing his famed jab to dictate the distance and pace. Despite Ngannou's early efforts to land significant shots, Joshua remained composed and delivered a devastating right hand that sent Ngannou to the canvas in the first round. ( Read Deeper )

Liverpool-Man City: The Epic Final Game Between Klopp Vs Pep

For over a decade, Klopp vs. Pep has been the defining rivalry of the Premier League, shaping tactics and elevating the league's competitiveness to new heights. Their mutual respect and admiration for each other's coaching prowess were evident, as they acknowledged the impact they've had on each other's careers. However, with Klopp set to depart Liverpool at the end of the season, this match felt like the end of an era, marking the potential final meeting between the two managerial giants. ( Read Deeper

PODCAST(WHAT WE ARE LISTENING TO)

• How To Make a Million Dollars in Revenue in Your Business ( Listen )

EXTRA BREVITI

• President Biden has begun a tricky maneuver: breaking with Israeli Prime Minister Benjamin Netanyahu and his Gaza war strategy. ( Read Deeper )

• Kate, Britain's Princess of Wales, thanked the public on Sunday for their support in her first public message since undergoing abdominal surgery in January. ( Read Deeper )

• Hollywood's finest are being rewarded with golden statuettes at the Oscars in Los Angeles. ( Read Deeper )