😲Humane’s AI Pin Is Dead

☀️Good morning. It's Wed, Feb. 19, and we're covering, Humane’s AI Pin Shuts Down As HP Acquires Startup’s Assets For $116M, Mira Murati Launches Thinking Machines Lab, An AI-Focused Startup, Trump Blames Ukraine For War, Clashes With Zelenskyy Over Peace Talks, 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 $3.16 Trillion, a 0.70% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $103.09B, which makes a 6.34% increase.

• The total volume in Defi is currently $6.95B, 6.74% of the total crypto market 24-hours.

• The volume of all stablecoins is now $96.96B, which is 94.06% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 60.09%, an decrease of 0.17% over the day.

Strategy Plans $2 Billion Debt Offering To Buy More Bitcoin

Michael Saylor’s company, now rebranded as Strategy, is raising $2 billion through a private convertible debt offering to fund more Bitcoin acquisitions. The 0% coupon senior notes will mature in 2030, with a 40-50% conversion premium and a three-year put option allowing investors to redeem early. Strategy currently holds 478,740 BTC (worth over $45 billion)—more than 2.5% of Bitcoin’s total supply. (Read Deeper)

BUSINESS & FINANCE

Humane’s AI Pin Shuts Down As HP Acquires Startup’s Assets For $116M

Humane, the once-promising hardware startup, announced on Tuesday that it is discontinuing its AI Pin and has sold most of its assets to HP for $116 million. As a result, all AI Pin devices will cease functioning on February 28, 2025, at 12 p.m. PST, with customers urged to back up their data before the shutdown. Customers who purchased an AI Pin within the past 90 days are eligible for a refund, but others will not receive compensation.

Takeaway: The AI Pin, initially launched in April 2024, aimed to replace smartphones with a wearable AI-powered assistant. However, the device faced severe criticism, poor sales, and battery safety concerns, forcing Humane to lower its price and ultimately shut down. HP will integrate Humane’s engineers and product managers into its new HP IQ division, focusing on AI innovation for personal computers and printers. (Read Deeper)

J&J Faces Legal Battle Over $10 Billion Baby Powder Settlement

Johnson & Johnson (J&J) is facing a crucial legal battle over its third attempt to resolve lawsuits alleging that its talc-based baby powder caused cancer. The company has proposed a $10 billion settlement through the bankruptcy of its subsidiary, Red River Talc, which it claims has broad support. However, critics argue that J&J manipulated the voting process to secure approval.

Takeaway: U.S. Bankruptcy Judge Christopher Lopez is overseeing the case, which will determine whether the settlement moves forward or if the bankruptcy should be dismissed. The hearing, set to last until the end of February, will also address whether a wealthy company like J&J should be allowed to use bankruptcy as a shield from litigation. J&J argues that its plan provides fair and efficient compensation, while opponents say it forces victims into a flawed settlement process that denies them their right to trial. ( Read Deeper )

TECHNOLOGY & SCIENCE

Mira Murati Launches Thinking Machines Lab, An AI-Focused Startup

Former OpenAI CTO Mira Murati has launched a new AI startup called Thinking Machines Lab, which aims to develop AI systems that are customizable, widely understood, and highly capable. Murati serves as CEO, with OpenAI co-founder John Schulman as Chief Scientist and Barret Zoph as CTO. While rumors suggested Murati sought to raise over $100 million from VCs, the company has not confirmed funding details.

Takeaway: The company plans to build multimodal AI models that work collaboratively with users and enhance domains like science and programming. AI safety is also a key focus, with plans to prevent misuse, share best practices, and contribute to external research. Thinking Machines Lab has already hired 29 employees from OpenAI, Character AI, and Google DeepMind and is actively recruiting more talent. ( Read Deeper)

Pokémon Go Maker Niantic Want To Sell Games Division For $3.5 Billion

Niantic Inc., the maker of Pokémon Go, is in talks to sell its video game business to Scopely Inc., a Saudi Arabia-owned mobile gaming company, for approximately $3.5 billion. The deal, which could be announced in the coming weeks, would include Pokémon Go and other mobile games. Niantic previously signed a deal with Savvy in 2023 to expand in Saudi Arabia, the UAE, and Egypt.

Why It Matters: Niantic has struggled to replicate the success of Pokémon Go, leading to staff cuts and game cancellations in recent years. Scopely, acquired by Saudi Arabia’s Savvy Games Group for $4.9 billion in 2023, is looking to strengthen its mobile gaming portfolio. This potential acquisition aligns with Saudi Arabia’s broader push to expand into the gaming industry through its Public Investment Fund (PIF). (Read Deeper)

AROUND DE WORLD & POLITICS

Trump Blames Ukraine For War, Clashes With Zelenskyy Over Peace Talks

President Donald Trump criticized Ukrainian President Volodymyr Zelenskyy on Tuesday, blaming Ukraine for the war and calling Zelenskyy a poor negotiator. His comments came as U.S. and Russian officials held talks in Saudi Arabia without Ukraine’s involvement, sparking concerns among European allies. Trump’s remarks, along with reports that the U.S. has proposed claiming half of Ukraine’s rare earth mineral rights as compensation for past aid.

Takeaway: Trump dismissed Zelenskyy’s frustrations over being excluded from negotiations, suggesting Ukraine should have ended the war earlier. He also pushed for elections in Ukraine, claiming Zelenskyy’s approval is low, despite recent polls showing majority support. (Read Deeper)

First Openly Gay Imam Murdered In South Africa, Leaving Legacy Of Progress

Muhsin Hendricks, the world’s first openly gay imam, was shot dead in Gqeberha, South Africa, in what appears to have been a targeted killing. Hendricks was known for advocating LGBTQ+ inclusion in Islam and officiating interfaith marriages—something rarely accepted by traditional Muslim leaders. Activists say his death will not stop the push for greater inclusion, with leaders like Reverend Toni Kruger-Ayebazibwe emphasizing that his legacy of challenging conservative religious norms will live on.

Takeaway: South Africa’s progressive laws on LGBTQ+ rights, including the legalization of same-sex marriage in 2006, religious groups largely distanced themselves from Hendricks, refusing to recognize him as an imam. Following his murder, some social media reactions have been filled with hate, sparking concerns about safety for LGBTQ+ individuals in religious communities. (Read Deeper)

ENTERTAINMENT & SPORTS

A$AP Rocky Acquitted In Firearm Assault Case on LA Street

A$AP Rocky has been found not guilty of two felony assault charges in Los Angeles, avoiding a potential 24-year prison sentence. The case stemmed from a 2021 altercation in which former friend Terell Ephron (A$AP Relli) accused Rocky of firing a gun at him, grazing his knuckles. Mayers denied the allegations, claiming the weapon was a prop gun and accusing Ephron of attempting to extort him. (Read Deeper)

Tiger Woods Returns To Golf As TGL Continues

Tiger Woods returned to competitive golf in the TGL indoor golf league on Tuesday night, playing for Jupiter Links Golf Club against Rickie Fowler’s New York Golf Club. However, Woods' team suffered a 10-3 loss as New York dominated the match. This was Woods' first public golf appearance since his mother’s passing last week. He had withdrawn from the Genesis Invitational to grieve but briefly attended as the event’s host. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• The Department of Government Efficiency (DOGE), established by President Trump in January 2025, aims to modernize federal technology and enhance governmental efficiency. Elon Musk, appointed as a senior adviser to the President, oversees DOGE's operations, focusing on cost-cutting measures across various federal agencies. (Listen)

EXTRA BREVITI

• Elon Musk’s social media platform, X (formerly Twitter), is in discussions to secure new funding at a $44 billion valuation. (Read More)

• Elon Musk’s DOGE Universe: Inside His Influence in U.S. Government. (Read More)

• HSBC Announces $2 Billion Share Buyback as Annual Profit Rises 6.5%. (Read More)