💔DOJ Hints To Breakup Google

☀️Good morning. It's Wednesday, Oct. 9, and we're covering, DOJ Hints At Potential Google Breakup After Antitrust Ruling, X Returns To Brazil After Musk Complies With Supreme Court Demands, Hezbollah Launches Dozens Of Rockets Fire Into Israel, 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 $2.17 Trillion, a 0.30% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $67.64B, which makes a 15.29% decrease.

• The total volume in Defi is currently $3.59B, 5.31% 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 56.74%, a decrease of 0.15% over the day.

Bitcoin Whale Accumulates More Coins Despite $46 Million Losses

Bitcoin Whale has acquired an additional 750 BTC, bringing its total holdings to 10,158 BTC, despite facing unrealized losses of around $46.8 million. The whale's recent activity, which followed six months of dormancy, began with a withdrawal of 250 BTC from Binance. The average purchase price for the whale's holdings is $67,026, higher than the current market value, resulting in these losses. (Read Deeper) :

BUSINESS & FINANCE

DOJ Hints At Potential Google Breakup After Antitrust Ruling

The U.S. Department of Justice (DOJ) is considering breaking up Google as a potential remedy after a court ruled that the tech giant holds a monopoly in the search engine market. The DOJ's filing suggests measures that would prevent Google from using products like Chrome, Android, and the Play Store to unfairly benefit its search business. Remedies could also include sharing search data with competitors and limiting exclusive agreements with companies like Apple and Samsung. While Google plans to appeal the ruling, legal experts believe the most likely outcome will involve eliminating exclusive contracts rather than a full breakup.

Why Its Matters: Google’s search business is a cornerstone of its parent company Alphabet’s revenue, accounting for $48.5 billion, or 57%, of total earnings in the second quarter of 2024. The company currently holds a 90% share of the search market. While unlikely, a full breakup of Google’s businesses remains a possibility as the DOJ weighs its options. The final decision on remedies is expected by August 2025, but an appeal by Google could draw out the process for several years. (Read Deeper)

TSMC Reports Strong Quarterly Revenue Amid AI Chip Demand

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 39% increase in quarterly revenue, reaching NT$759.7 billion ($23.6 billion), surpassing analyst expectations. This growth reflects strong demand for AI chips, particularly following the launch of ChatGPT, which has driven significant investment in AI infrastructure. Despite some skepticism about the sustainability of AI spending from companies like Meta and Google, TSMC's shares have more than doubled since last year, with its market capitalization briefly exceeding $1 trillion.

Takeaway: TSMC remains optimistic about the future of AI investment, even amid escalating trade tensions between the U.S. and China. some analysts express concerns over potential delays in the delivery of Nvidia’s latest Blackwell chips, but most investors believe this will not pose a long-term challenge for TSMC. The company’s strong market leadership is expected to sustain its profit margins, particularly as competitors Intel and Samsung struggle in the bespoke chipmaking sector. ( Read Deeper)

TECHNOLOGY & SCIENCE

X Returns To Brazil After Musk Complies With Supreme Court Demands

Brazil’s Supreme Court has lifted its ban on X (formerly Twitter) after Elon Musk complied with the court's demands. Musk took down user accounts considered threats to democracy and appointed a legal representative for X in Brazil. The ban, which began in August 2024, followed a clash over local laws requiring X to remove certain profiles and maintain a presence in the country. Musk initially resisted, framing the conflict as a free speech issue. Now that X has fulfilled Brazil's requirements, the platform is allowed to resume operations in the country, which has over 22 million users.

Takeaway: Musk’s reversal comes after months of resistance, during which he framed the battle as a defense of free speech. The conflict between Musk, who has also cooperated with governments like India and Turkey to censor posts, and Brazil’s Supreme Court captured global attention. It raises questions about the role of tech companies in policing online content, especially in countries with different regulatory approaches compared to the U.S.(Read Deeper)

OpenAI Partners With Hearst To Enable AI Content Offerings

OpenAI has partnered with Hearst, a media conglomerate that owns well-known outlets like Cosmopolitan, Esquire, and the San Francisco Chronicle. This collaboration will enable OpenAI's products, such as ChatGPT and SearchGPT, to display content from over 20 magazine brands and more than 40 newspapers, complete with proper citations linking to the original sources.

Takeaway: This agreement is part of a trend where media outlets are forming partnerships with AI startups to navigate the challenges posed by AI-generated content. Earlier this year, OpenAI secured similar deals with Condé Nast and Time magazine, granting access to extensive archives and content. (Read Deeper)

AROUND DE WORLD & POLITICS

Hezbollah Launches Dozens Of Rockets Fire Into Israel

Hezbollah has ramped up its rocket fire into Israel, launching dozens of rockets on Tuesday, targeting areas as far south as Haifa. The militant group’s acting leader, Sheikh Naim Kassem, asserted that Hezbollah would maintain its pressure on Israel, contributing to the displacement of tens of thousands of Israelis living near the Lebanese border. Israeli Prime Minister Benjamin Netanyahu stated that Hezbollah is currently weaker than in previous years, citing the loss of numerous operatives.

Takeaway: The Israeli military reported about 180 rockets launched from Lebanon, prompting the government to advise residents in northern Israel to limit activities, leading to school closures. While many rockets were intercepted, there were reports of minor injuries and damage. (Read Deeper)

Disney World Is Set To Close Its Theme Parks As Hurricane Milton approaches

Walt Disney World is set to close its Orlando theme parks and resorts in phases starting Wednesday at 1 p.m. due to Hurricane Milton. It will join other major parks like SeaWorld and Universal Orlando Resort in shutting down operations. The closures include attractions, water parks, miniature golf facilities, and campgrounds. Travel disruptions are widespread, affecting cruise ship operations and airport closures throughout Florida. Tampa's airport has already halted operations, with others, including Orlando's, expected to follow.

Takeaway: The Orlando area, a popular tourist destination, draws millions of visitors annually, especially during October for Halloween festivities. Families like the Downs, who traveled from Arkansas for a 12-day vacation, expressed disappointment over the unexpected closures. ( Read Deeper)

ENTERTAINMENT & SPORTS

Pogba To Join Major League Soccer (MLS) Amid Barcelona And Marseille Links

Paul Pogba is increasingly likely to join a Major League Soccer (MLS) club after his suspension ends in 2025, despite recent links to Barcelona and Marseille. Reports suggest that Pogba, who owns property in Miami, is leaning toward an MLS move, although no specific club has been identified. Pogba received a four-year suspension after failing a doping test but had his ban reduced to 18 months last week. Although still under contract with Juventus until 2026, the club hopes to terminate his deal due to his high salary of around €8 million and increased competition for midfield positions. (Read Deeper)

Foxy Brown Responds To Jay-Z Relationship Rumors

Foxy Brown recently took to Instagram to address rumors regarding her past relationship with Jay-Z, specifically allegations of a sexual relationship when she was underage. The rapper, who gained prominence in the 1990s alongside Jay-Z on tracks like “Ain’t No N—a,” dismissed the claims as "fake news," emphasizing that no one could silence her story, even with a non-disclosure agreement (NDA). She expressed frustration that people wanted her to take an anti-Jay stance, asserting, “Y’all want me to be anti-Hov so bad. FOH. Post that.” (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Improving an investing operating system with Vitaliy Katsenelson, a well-known investor and author, would likely involve incorporating his insights and methodologies into various aspects of investment analysis and decision-making. ( Listen )

EXTRA BREVITI

• Biden's administration aims to negotiate a ceasefire in exchange for the release of hostages taken by Hamas, amid a severe humanitarian crisis in Gaza. (Read More)

• OpenAI has fired back at Elon Musk in a legal battle that escalates as the startup contemplates a shift to a for-profit business model. (Read More)

• Fisker Bankruptcy Faces Major Setback Among Fleet Sale Concerns. (Read More)