😢Los Angeles Wildfires Kill Five

☀️Good morning. It's Thursday, Jan. 9, and we're covering, Quantum Computing Stocks Decline After Nvidia CEO's Forecast, SoftBank’s Arm Wants To Acquire Ampere Computing, Wildfires Ravage Los Angeles Area, Hollywood Hills And Pacific Palisades, 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 $3.3 Trillion, a 0.71% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $159.62B, which makes a 10.85% decrease.

• The total volume in Defi is currently $11.91B, 7.46% of the total crypto market 24-hours.

• The volume of all stablecoins is now $147.65B, which is 92.50% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.60%, a decrease of 0.35% over the day.

Bitcoin Falls Below $93K Amid Crypto Selloff

Bitcoin experienced a significant dip on Wednesday, falling below the $93,000 mark as a global crypto selloff gathered momentum. The leading cryptocurrency erased its early-2025 gains, shedding nearly 10% of its value in just two days from a peak of $102,000 earlier this week. Bitcoin recently traded at $94,300, still reflecting a 2.5% drop over the past 24 hours. Several major cryptocurrencies, such as Cardano, Render, and Aptos, seeing significant losses. (Read Deeper)

BUSINESS & FINANCE

Quantum Computing Stocks Decline After Nvidia CEO's Forecast

Quantum computing stocks experienced a significant drop on Wednesday after Nvidia CEO Jensen Huang predicted that practical quantum computing is still 15-30 years away, with 20 years being the most realistic estimate. This cautious outlook halted a year-long rally in the sector, which has been driven by optimism around the technology's future. While revenue is limited, the technology's potential to disrupt classical computing remains significant.

Takeaway: The declines came after a strong performance in the previous year, fueled by breakthroughs like Google’s recent quantum computing advancements. Stocks of Rigetti Computing, D-Wave Quantum, Quantum Computing, and IonQ fell over 40%, erasing $8 billion in market value. Quantum computing is seen as critical for national security and cryptographic applications. (Read Deeper)

FTV Capital Raises $4 Billion For Growth Equity Funds Amid IPO Slowdown

FTV Capital, a growth-equity investment firm, has raised over $4 billion across two funds to support fast-growing companies seeking alternatives to IPOs in a challenging market. FTV VIII Closed at $3.4 billion, the firm’s largest to date, targeting investments of $60 million to $300 million and FTV Ascend I raised $651 million, targeting smaller investments of $20 million to $60 million. FTV Capital, areas of interest include artificial intelligence, financial technology (payments and insurance), healthcare IT, and musculoskeletal technologies.

Why It Matters: A slowdown in IPOs, particularly for companies valued under $5 billion, has increased demand for growth equity as companies seek alternative funding. FTV offers equity and liquidity solutions for founders, angel investors, and VCs. FTV Capital’s latest funds position it to capitalize on a growing need for growth equity, enabling it to support innovative companies while navigating uncertain market conditions. (Read Deeper)

TECHNOLOGY & SCIENCE

SoftBank’s Arm Wants To Acquire Ampere Computing

SoftBank Group and its chip-design subsidiary, Arm Holdings, are in discussions to acquire Ampere Computing, a semiconductor company backed by Oracle. Ampere designs data center processors using Arm's architecture and was previously valued at $8 billion during a proposed 2021 SoftBank investment. The potential deal comes as Ampere, facing challenges in the competitive chip market, explores strategic alternatives and reportedly struggles with its IPO plans.

Why It Matters: Acquiring Ampere would strengthen Arm's expertise in server and AI-focused chips, supporting its shift from licensing technology to producing complete chips. Ampere’s processors are tailored for AI and cloud computing, markets experiencing significant growth but dominated by competitors like Nvidia, Intel, and AMD. This move aligns with SoftBank’s AI-focused strategy and capitalizes on a surge in semiconductor deals. (Read Deeper)

ByteDance’s Lemon8 Gaining Traction Amid TikTok’s U.S. Ban Threat

ByteDance's sister app, Lemon8, is gaining popularity among U.S. users as concerns grow over a potential ban on TikTok. Lemon8, which blends TikTok-style videos with Instagram and Pinterest-like aesthetics, has seen a surge in downloads, especially after the U.S. Supreme Court agreed to hear a case that could force TikTok to sever ties with ByteDance.

Takeaway: Influencers are increasingly promoting Lemon8 as an alternative to TikTok, though there are concerns that ByteDance-owned apps like Lemon8 could also be affected by new laws targeting TikTok. Despite the uncertainty, Lemon8's user base is expanding, especially in the U.S., where it has seen significant growth. (Read Deeper)

AROUND DE WORLD & POLITICS

Wildfires Ravage Los Angeles Area, Hollywood Hills And Pacific Palisades

Deadly wildfires are sweeping through Los Angeles and its surrounding areas, including the Hollywood Hills and Pacific Palisades, causing widespread destruction. The Sunset Fire near the Hollywood Bowl threatens iconic landmarks, while the Pacific Palisades has seen devastating losses, including celebrity homes and historical buildings. More than 1,000 structures have been destroyed, and five people have died. Over 130,000 people have been evacuated.

Takeaway: Strong winds and erratic fire behavior continue to challenge firefighters, with several schools, homes, and businesses heavily impacted. Climate change is contributing to the longer wildfire season, and emergency response efforts are underway, with President Biden declaring a federal emergency and Governor Newsom deploying National Guard troops. The fires have left over 450,000 people without power, and Hollywood studios have suspended production. (Read Deeper)

Migrant Woman Gives Birth On Dinghy During Dangerous Crossing To Canary Islands

A migrant woman gave birth aboard a crowded dinghy while attempting the perilous journey from West Africa to Spain's Canary Islands. The mother, along with 63 other people, was rescued by the Spanish coast guard off Lanzarote. The rescue team was notified of the woman's condition early in the morning, and they arrived at the scene just minutes after the baby was born. The newborn, a healthy boy, was immediately attended to by the crew before being transferred to a hospital in Lanzarote along with his mother, where they were reported to be in good health.

Takeaway: The incident is part of a broader migration crisis, with many migrants attempting the dangerous Atlantic crossing due to increased controls on other Mediterranean routes. The Canary Islands have become a key destination, but the journey is perilous, with rough seas and long distances contributing to high risks. In 2024, a record 46,843 migrants reached the islands, while estimates suggest that between 1,000 and 10,000 may have died attempting the journey. (Read Deeper)

ENTERTAINMENT & SPORTS

Tottenham Secured A Crucial 1-0 Victory Over Liverpool In Carabao Cup

Tottenham won 1-0 against Liverpool in the first leg of the Carabao Cup semi-final at home. The match saw several stoppages due to injuries, with Rodrigo Bentancur and Jarrell Quansah both forced off. Despite some near-misses, including a disallowed goal by Dominic Solanke, Tottenham grabbed the lead late in the match when Lucas Bergvall scored from close range after a pass from Dominic Solanke. Liverpool pushed for an equalizer but Tottenham held firm, taking a 1-0 advantage to Anfield for the second leg. (Read Deeper)

Billy Crystal, Paris Hilton, And Other Celebrities Lose Homes In L.A. Wildfires

Several high-profile celebrities, including Billy Crystal, Paris Hilton, and James Woods, are among the victims of the deadly wildfires ravaging the Los Angeles area. Over 1,000 structures have been destroyed as multiple blazes have swept through neighborhoods, including the scenic Pacific Palisades, known for its star-studded residences. The Pacific Palisades neighborhood, nestled between the Santa Monica Mountains and the Pacific Ocean, has been particularly hard-hit. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Why I Invested 50% of my Net Worth in Bitcoin, Anthony Scaramucci, founder of SkyBridge Capital discusses his substantial investment in Bitcoin and its implications for the global economy. ( Listen )

EXTRA BREVITI

• Meta is testing a new feature on Facebook Marketplace that allows users in Germany, France, and the U.S. to view eBay listings directly on the platform. (Read Deeper)

• Tencent Responds to US Blacklist With Biggest Buyback Since 2006. (Read More)

• Yahoo Co-founder Jerry Yang: Masayoshi Son’s $100 Billion Bet on AI Signals His Push into the Future. (Read More)

• Sir Keir Starmer has appointed Sir Olly Robbins, the former chief negotiator of Theresa May's soft Brexit plan, as the most senior civil servant at the Foreign Office. (Read More)