🚀Blue Origin Calls Off Launch

🌅Good morning. It's Monday, Jan. 13, and we're covering, Apple Faces Global Market Share Decline Amid AI Challenges In China, Blue Origin Calls Off New Glenn Launch Due To Rocket Issue, California's Home Insurance Crisis Worsens As L.A. Fires Devastate Communities, 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 $3.18 Trillion, a 3.22% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $99.69B, which makes a 40.89% increase.

• The total volume in Defi is currently $6.93B, 6.93% of the total crypto market 24-hours.

• The volume of all stablecoins is now $92.15B, which is 92.44% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 57.04%, an increase of 0.39% over the day.

2025 Could Be A Pivotal Year For Crypto ETFs, Laser Digital Predicts

In 2025, over 12 new cryptocurrency exchange-traded funds (ETFs) are expected to launch in the U.S. if approved by the SEC, according to Laser Digital, a subsidiary of Nomura. These ETFs could include products based on bitcoin, ether, litecoin, XRP, and Solana. A combined bitcoin/ether ETF is likely to be the first to gain approval. The success of Blackrock's iShares Bitcoin Trust in 2024, which amassed $53 billion in assets, has set a strong precedent. (Read Deeper)

BUSINESS & FINANCE

Apple Faces Global Market Share Decline Amid AI Challenges In China

Apple's global iPhone sales declined by 5% in the final quarter of 2024, losing market share to Chinese rivals like Xiaomi and Vivo. The company’s iPhone market share dropped to 18%, partly due to the absence of its AI features in China. Apple’s AI tools, such as writing assistance and image generation, are still being developed for the Chinese market, causing a mixed reception for the iPhone 16.

Takeaway: Despite the sales drop in China, Apple saw growth in premium models and strong performance in regions like Latin America. Chinese brands such as Lenovo’s Motorola, Huawei, and Honor were among the fastest-growing competitors, leveraging in-house AI tools and features to capture market share. (Read Deeper)

Groww, India’s Largest Trading App, Prepares For $6 Billion-$8 Billion IPO

Groww, India's largest retail stockbroker, is preparing to file for an IPO within the next 10 to 12 months, aiming for a valuation between $6 billion and $8 billion, according to sources. This would be the first IPO for a digital trading platform in India. Groww, which has backing from Peak XV, Tiger Global, and Alkeon, has already started talks with investment banks and plans to select advisors for the offering. The company, which allows users to invest in stocks, mutual funds, and make UPI transactions, recently moved its domicile from the U.S. to India to prepare for the IPO.

Takeaway: With 13.2 million active users, Groww has outpaced competitors like Zerodha, which has 8.1 million users. The company continues to see strong growth, adding between 325,000 and 550,000 new users each month. India has become a hotbed for tech IPOs, with numerous startups planning listings in 2025, driven by the country’s growing domestic capital and stable policy environment. (Read Deeper)

TECHNOLOGY & SCIENCE

Blue Origin Calls Off New Glenn Launch Due To Rocket Issue

Blue Origin's launch of its New Glenn rocket was called off due to "a few anomalies" discovered during the mission countdown. The launch, scheduled for 1:00 am ET, was delayed as the company worked to resolve the issue. The delay could last at least 24 hours as the team investigates the problem.

Takeaway: The inaugural mission aims to compete with SpaceX in the satellite launch market and includes an attempt to land New Glenn's first-stage booster on a barge in the Atlantic Ocean. The rocket carries a prototype of Blue Origin's Blue Ring spacecraft for national security and satellite servicing missions. (Read Deeper)

Researchers Release Sky-T1, A Open-Source “Reasoning” AI Model Developed For Under $450

Researchers from UC Berkeley’s Sky Computing Lab have released Sky-T1-32B-Preview, an open-source reasoning AI model that was trained for less than $450, a significant reduction compared to the millions of dollars previously required for similar models. Sky-T1 demonstrates competitive performance, outperforming an early version of OpenAI’s o1 on math and coding benchmarks, although it falls short in certain areas like advanced science questions.

Takeaway: The team used synthetic data and a combination of other models to train Sky-T1, which offers more reliable results in fields like physics and mathematics. The researchers aim to continue developing efficient, high-performance reasoning models in the future. (Read Deeper)

AROUND DE WORLD & POLITICS

California's Home Insurance Crisis Worsens As L.A. Fires Devastate Communities

The Los Angeles wildfires have intensified California's home insurance crisis, with rising premiums and insurer withdrawals leaving many homeowners uninsured or under insured. Francis Bischetti, a Pacific Palisades resident, lost his uninsured family home after his premium from Farmers Insurance skyrocketed from $4,500 to $18,000, forcing him to go without coverage. Peggy Holter, an 83-year-old retired journalist, lost her condo, which was covered only by the limited California FAIR Plan, far below the cost needed to rebuild.

Takeaway: As insurers retreat from fire-prone regions and premiums soar, the California FAIR Plan has seen its policies more than double in recent years, though its limited payouts fall short for rebuilding. The crisis highlights the urgent need for reforms to address rising climate risks and stabilize the insurance market. (Read Deeper)

Zelenskiy Offers Exchange Of Captured North Korean Soldiers For Ukrainians In Russian Captivity

Ukrainian President Volodymyr Zelenskiy announced that Ukraine is ready to exchange captured North Korean soldiers for Ukrainian prisoners held in Russia. This follows Ukraine's capture of two North Korean soldiers in Russia's Kursk region, marking the first known instance of such captures. North Korea has reportedly deployed around 11,000 troops to support Russia, with heavy casualties attributed to their lack of modern warfare training.

Why It Matters: Zelenskiy stated that some captured soldiers expressed a willingness to stay in Ukraine or assist in spreading the truth about the war. South Korean intelligence revealed that North Korean authorities had instructed troops to commit suicide to avoid capture. Zelenskiy’s offer highlights efforts to secure the release of Ukrainian captives while exposing North Korea's controversial involvement in the conflict. (Read Deeper)

ENTERTAINMENT & SPORTS

Barcelona Crush Real Madrid In Supercopa de España

Barcelona triumphed over Real Madrid in the Supercopa de España final, securing a 5-2 victory in Jeddah. Despite an early goal by Kylian Mbappé for Real Madrid, Barcelona dominated with goals from Lamine Yamal, Robert Lewandowski, Raphinha (twice), and Alejandro Balde. Rodrygo scored a penalty for Madrid after Wojciech Szczęsny's red card but couldn’t spark a comeback. The win gave Barcelona their 15th Supercopa title, further asserting their dominance in Spanish football. (Read Deeper)

Tyler Perry Condemns Insurance Companies Over Los Angeles Wildfires Impact

Tyler Perry criticized insurance companies for canceling homeowners' policies before the devastating Los Angeles wildfires, leaving many without coverage despite years of paying premiums. The fires displaced 180,000 residents, destroyed thousands of homes, and severely impacted areas like Pacific Palisades. Companies like State Farm, Chubb, and Allstate ceased offering policies in high-risk areas, while others like Mercury Insurance provided options for affected residents. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• In a recent Joe Rogan Experience interview, Meta CEO Mark Zuckerberg criticized Apple for a lack of innovation since the creation of the iPhone, claiming the company hasn’t introduced any major advancements in nearly 20 years. (Listen)

EXTRA BREVITI

• Jeff Bezos, founder of Blue Origin, expressed confidence that SpaceX CEO Elon Musk's ties with U.S. President-elect Donald Trump won't negatively impact his space company. (Read Deeper)

• Stichting Pensioenfonds ABP, Europe’s largest pension fund, sold its entire €571 million ($585 million) stake in Tesla in the third quarter of 2024. (Read More)

• As the incoming Trump administration gears up to take office in 2025, a pro-crypto legislative agenda is expected to take center stage in Washington, D.C.(Read More)

• British Prime Minister Keir Starmer is set to announce an ambitious plan to position the UK as the global leader in artificial intelligence. (Read More)