📱iPhone 17 Air Leaked

☀️Good morning. It's Monday, Mar. 17, and we're covering, Forever 21 Files For Bankruptcy Again, Faces Possible Liquidation, Apple’s iPhone 17 Air Could Pave The Way For A Portless Future, U.S. Vows Continued Strikes On Houthis Until Red Sea Attacks End, 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 $2.72 Trillion, a 1.37% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $68.55B, which makes a 48.61% increase.

• The total volume in Defi is currently $5.42B, 7.91% of the total crypto market 24-hours.

• The volume of all stablecoins is now $64.33B, which is 93.85% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 60.74%, an increase of 0.08% over the day.

Solana Stablecoins Surge Past $12 Billion As Memecoins Drive Network Growth

Solana’s stablecoin market cap surged from $3 billion to over $12 billion since November 2024, driven by strong capital inflows and the rise of memecoins. This rapid growth, particularly fueled by the launch of the Official Trump meme coin, has solidified Solana's position as a key blockchain for stablecoins and digital assets. USDC has emerged as the leading stablecoin on Solana, challenging Tether's dominance on other blockchains. Increased network activity, low transaction costs, and high-speed processing have attracted both investors and developers. (Read Deeper)

BUSINESS & FINANCE

Forever 21 Files For Bankruptcy Again, Faces Possible Liquidation

Forever 21 has filed for Chapter 11 bankruptcy for the second time in six years, struggling with declining mall traffic and rising competition from online retailers. The company, which operates about 350 U.S. stores, is expected to liquidate after failing to find a buyer. Its trademark and intellectual property, owned by Authentic Brands Group, may continue in another form. The company will conduct liquidation sales while exploring a possible sale of assets. Its U.S. stores and website will remain open during the process, while international locations are unaffected.

Takeaways: The retailer previously filed for bankruptcy in 2019 and was later acquired by Sparc, a joint venture of Authentic Brands Group and mall operators Simon Property and Brookfield Asset Management. Despite efforts to revamp its business, Forever 21 has been unable to overcome industry challenges. Forever 21 is currently owned by Catalyst Brands, which had been evaluating strategic options for the struggling retailer. (Read Deeper)

Musk And OpenAI Agree To Fast-Track Legal Battle Over For-Profit Dispute

Elon Musk and OpenAI have agreed to expedite their legal dispute over OpenAI’s transition to a for-profit model, aiming for a trial in December. The lawsuit, filed by Musk, claims OpenAI "betrayed" its mission by deepening ties with Microsoft. A judge recently denied Musk’s attempt to block OpenAI’s restructuring but allowed other contract-related claims to proceed.

Takeaways: In a court filing on Friday, both parties agreed to move forward with a trial while deferring a decision on whether a jury will hear the case. OpenAI called the lawsuit "baseless" and reaffirmed its commitment to maintaining its nonprofit’s role. The feud between Musk and OpenAI CEO Sam Altman has escalated, with Altman dismissing Musk’s criticisms, saying, "I don’t think he’s a happy person." (Read Deeper)

TECHNOLOGY & SCIENCE

Apple’s iPhone 17 Air Could Pave The Way For A Portless Future

Apple is set to make a bold statement with the upcoming iPhone 17 Air, a device rumored to be just 5.5mm thick—the thinnest iPhone ever. But beyond its ultra-slim design and high-density battery, the iPhone 17 Air is also seen as a stepping stone toward a fully portless future for Apple’s smartphones. Other smartphone brands, including Samsung, Honor, and Oppo, are also working on ultra-slim devices, indicating a shift toward minimalist smartphone designs.

Takeaways: Apple considered making it the first portless iPhone, removing the USB-C port and SIM tray in favor of MagSafe wireless charging and cloud-based data transfers. However, due to regulatory concerns, especially in the EU, Apple decided to hold off on the portless design. Apple remains interested in a fully wireless iPhone in the future. If the iPhone 17 Air is successful, the company may revisit the port-free concept. (Read Deeper)

NASA Astronauts To Return Home After Nine-Month Stay In Space

NASA astronauts Suni Williams and Butch Wilmore are finally returning to Earth after spending nine months aboard the International Space Station (ISS)—a mission originally intended to last just 10 days. Their prolonged stay was due to technical failures in Boeing’s Starliner spacecraft, which suffered helium leaks and propulsion issues, forcing NASA to bring it back to Earth without its crew. Their experience will provide valuable insights into the risks of long-duration space travel, which could help in future missions to the Moon, Mars, and beyond.

Takeaways: The astronauts’ extended time in space may have long-term health effects, including bone and muscle loss, vision impairment, cognitive changes, and increased radiation exposure. Studies have shown that astronauts can experience weakened immune systems, cardiovascular risks, and genetic alterations, though most effects subside after returning to Earth. Upon landing, Williams and Wilmore will undergo a 45-day rehabilitation program to regain strength and adapt to Earth’s gravity. (Read Deeper)

AROUND DE WORLD & POLITICS

U.S. Vows Continued Strikes On Houthis Until Red Sea Attacks End

The United States has vowed to continue military strikes against Yemen’s Houthi rebels until they stop attacking commercial shipping in the Red Sea. U.S. Defense Secretary Pete Hegseth stated that the campaign would be “unrelenting” to protect global trade routes. In response, Houthi leader Abdul Malik al-Houthi warned of further escalation, vowing to target U.S. ships.

Takeaways: The strikes, which reportedly killed at least 53 people, have drawn condemnation from Iran and Russia, with Iran warning the U.S. against further action. The United Nations has urged restraint, warning that the conflict could further destabilize Yemen. Meanwhile, the Houthis' Red Sea attacks have continued to disrupt global commerce, adding to tensions in the region. (Read Deeper)

Airbus, European Tech Firms Call For Sovereign Infrastructure Fund

Airbus, Dassault Systèmes, and over 90 European tech firms and lobby groups have urged European Commission President Ursula von der Leyen to establish a sovereign infrastructure fund to boost public investment in cutting-edge technologies. Their March 14 open letter highlights concerns over Europe’s dependence on foreign technology, which they argue threatens security, sovereignty, and economic growth.

Takeaways: The companies propose that the EU prioritize technological independence in AI, quantum computing, semiconductors, and cloud services, funding capital-intensive sectors to compete with U.S. and Chinese initiatives. They also advocate for a “Buy European” policy in government procurement to stimulate domestic innovation. The call comes amid U.S. subsidies for semiconductor production and China’s state-backed tech push, signaling Europe’s urgency to secure its competitive edge in global markets. (Read Deeper)

ENTERTAINMENT & SPORTS

Newcastle End Trophy Drought With Carabao Cup Victory Over Liverpool

Newcastle United ended their 56-year trophy drought by winning the Carabao Cup, marking their first domestic silverware in 70 years. They defeated Liverpool in a high-energy performance, overcoming past disappointments at Wembley. Manager Eddie Howe solidified his status as one of England’s top coaches, guiding his team to victory through relentless pressing and defensive discipline. (Read Deeper)

Kanye West Drops New Song Featuring Diddy, North West

Kanye West released a new song, Lonely Roads Still Go to Sunshine, featuring Diddy, Diddy’s son King Combs, North West, and artist Jasmine William. The track includes a phone call where Diddy thanks West for supporting his children. North West also contributes a rap verse. The release has caused controversy, with Kim Kardashian allegedly attempting to block North’s involvement through trademark protections. West reportedly responded aggressively in a text exchange, warning of a public fallout. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• China's fundamental economic problem lies in its unbalanced growth model, demographic challenges, and a struggling property sector. (Listen)

EXTRA BREVITI

• Baidu Unveils Two New AI Models Amid Growing Industry Rivalry. (Read More)

• China Plans Meeting Between Xi Jinping and Global CEOs Amid Economic Challenges. (Read More)

• A fire at the Pulse nightclub in Kocani, North Macedonia, killed at least 59 people and injured 155 during a concert by hip-hop duo DNK. (Read More)

• Ferrari’s CEO, Benedetto Vigna, revealed that younger buyers are increasingly purchasing the luxury brand’s cars, with 40% of new clients now under 40. (Read Deeper)