🚀NASA Delays SpaceX Crew-10

☀️Good morning. It's Thursday, Mar. 13, and we're covering, Abu Dhabi-Backed MGX Invests $2 Billion In Binance, Intel Appoints Industry Veteran Lip-Bu Tan As CEO, U.S. Officials Head To Moscow For Ukraine Ceasefire Talks As Putin Visits Kursk, 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 $2.69 Trillion, a 2.20% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $100.94B, which makes a 13.13% decrease.

• The total volume in Defi is currently $6.28B, 6.22% of the total crypto market 24-hours.

• The volume of all stablecoins is now $95.36B, which is 94.48% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 61.34%, an increase of 0.10% over the day.

Bank Of Russia Proposes Crypto Investment Pilot For High-Net-Worth Investors

The Bank of Russia has proposed a three-year crypto investment pilot for high-net-worth individuals and institutions, following a directive from President Vladimir Putin. The plan would create an Experimental Legal Regime (ELR) allowing only “particularly qualified” investors, those with over 100 million rubles ($1.14 million) in investments or an annual income exceeding 50 million rubles ($570,000), to trade cryptocurrencies. The central bank aims to increase transparency and establish crypto market standards while limiting risks. It also proposed banning crypto transactions between residents outside the ELR and introducing penalties for violations. (Read Deeper)

BUSINESS & FINANCE

Abu Dhabi-Backed MGX Invests $2 Billion In Binance

Abu Dhabi-backed investment firm MGX has made a $2 billion investment in Binance using stablecoins, marking the crypto exchange’s first institutional investment. This deal strengthens ties between Binance and the United Arab Emirates (UAE) as the country seeks to establish itself as a global hub for digital assets. The crypto market has rebounded after scandals in 2022, with Bitcoin hitting all-time highs. Binance still faces legal challenges, including a U.S. SEC lawsuit and a French investigation into tax fraud and money laundering.

Takeaways: MGX, chaired by UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan, has also invested in OpenAI and Elon Musk’s xAI. The company was launched a year ago to focus on AI and advanced technologies. Binance, the world’s largest crypto exchange, has been expanding in the UAE under CEO Richard Teng, after its founder, Changpeng Zhao (CZ), pleaded guilty to U.S. money laundering violations. The company employs around 1,000 of its 5,000 staff in the UAE. (Read Deeper)

Elon Musk Appeals Delaware Court Ruling To Restore $56 Billion Tesla Pay Package

Elon Musk has filed an appeal to reinstate his $56 billion Tesla pay package, arguing that the Delaware Court of Chancery made legal errors in its ruling. The court had voided the 2018 compensation plan, citing conflicts of interest among Tesla’s board and a lack of transparency for shareholders. Musk has encouraged companies to reincorporate outside Delaware, leading to a corporate exodus known as "DExit," with firms like Meta and TripAdvisor considering similar moves.

Takeaways: Musk’s legal team claims the decision defies Delaware law and corporate governance norms, noting that shareholders had approved the package twice. The compensation deal granted Musk 303 million stock options at $23 per share, which would be worth billions at current prices. Musk has suggested he may shift focus away from Tesla unless he secures a larger stake. (Read Deeper)

TECHNOLOGY & SCIENCE

Intel Appoints Industry Veteran Lip-Bu Tan As CEO

Intel has appointed Lip-Bu Tan as its new CEO, effective March 18, following the departure of Pat Gelsinger. Tan, a former Intel board member and veteran of the semiconductor industry, was previously the CEO of Cadence Design Systems and is a well-known technology investor. Intel is undergoing a major transformation, shifting to a contract manufacturing model while facing stiff competition from Nvidia and TSMC in AI chips and chip production. Reports suggest TSMC had approached Intel’s potential customers about a joint venture to operate Intel’s factories

Takeaways: His appointment signals Intel’s commitment to maintaining its chip design and manufacturing operations, despite recent speculation that parts of the company could be sold or spun off. Intel’s stock surged 12% after the announcement, as analysts saw Tan as a stabilizing force for the struggling company. Tan, who has previously criticized Intel’s bureaucracy and risk-averse culture, is expected to push for operational improvements. (Read Deeper)

NASA Delays SpaceX Crew-10 Launch To ISS Due To Technical Issue

NASA delayed the launch of SpaceX Crew-10 to the International Space Station (ISS) due to a clamp arm issue with the Falcon 9 rocket. The mission was scheduled for Wednesday evening but was called off 43 minutes before liftoff. NASA has not set a new launch date but has potential backup opportunities on Thursday and Friday. However, NASA insists the plan to use SpaceX for their return was set months ago.

Takeaways: This delay impacts NASA astronauts Suni Williams and Butch Wilmore, who have been stranded on the ISS for nine months after Boeing’s Starliner spacecraft encountered thruster and docking issues. They will return to Earth aboard a SpaceX Dragon capsule, along with two other astronauts, once Crew-10 arrives. The delay has sparked political controversy, with Elon Musk and President Donald Trump alleging, without evidence, that the Biden administration deliberately held up Williams and Wilmore’s return.(Read Deeper)

AROUND DE WORLD & POLITICS

U.S. Officials Head To Moscow For Ukraine Ceasefire Talks As Putin Visits Kursk

U.S. officials are traveling to Moscow to discuss a potential 30-day ceasefire in Ukraine, following talks between American and Ukrainian officials in Jeddah. President Donald Trump confirmed the diplomatic move, stating he had received “positive messages” but warned that action was needed. This diplomatic push follows a February 28 clash between Trump and Ukrainian President Volodymyr Zelensky, which had temporarily halted U.S. military aid before being restored after the Jeddah talks.

Takeaways: The Kremlin is reviewing the ceasefire proposal, and a call between Trump and Russian President Vladimir Putin is possible. Meanwhile, fighting continues, with Russian missile strikes hitting multiple Ukrainian cities, and Putin visiting the Kursk region, where Russian forces are reclaiming territory. Trump suggested he could apply financial pressure on Russia to encourage a deal but emphasized that he prefers a peaceful resolution. (Read Deeper)

G7 Foreign Ministers Meet In Canada As Tradewar Tensions Rising

Foreign ministers from the G7 nations, Britain, Canada, France, Germany, Italy, Japan, and the U.S., are meeting in Canada to discuss global issues, including the war in Ukraine and trade tensions. The meeting comes as President Donald Trump’s administration pushes for a quick resolution to the Ukraine war while imposing tariffs on steel and aluminum imports, straining relations with allies.

Takeaways: Secretary of State Marco Rubio is expected to brief partners on U.S. talks with Ukraine in Jeddah, where Kyiv signaled support for a 30-day ceasefire. However, the U.S. has clashed with allies over the wording of a G7 statement, particularly regarding Russia and China. Relations between the U.S. and Canada are particularly strained, with Trump threatening tariffs on all Canadian imports and even joking about annexing the country as the "51st state." (Read Deeper)

ENTERTAINMENT & SPORTS

Real Madrid Edge Atletico In Controversial Champions League Shootout

Real Madrid defeated Atlético Madrid 4-2 in a dramatic Champions League penalty shootout, extending their dominance in such encounters. Atlético took an early lead through Conor Gallagher, but the match remained tied 2-2 on aggregate through extra time. The turning point came when Julian Alvarez's penalty was ruled out after VAR confirmed he had accidentally touched the ball twice while slipping—a violation of IFAB rules. Atlético coach Diego Simeone questioned the decision, while Real Madrid’s Carlo Ancelotti and goalkeeper Thibaut Courtois defended the call. (Read Deeper)

Aston Villa Cruise Into Champions League Quarter-Finals, Set For PSG Clash

Aston Villa advanced to the Champions League quarter-finals with a commanding 3-0 victory over Club Brugge, sealing a 6-1 aggregate win. Brugge’s hopes were dashed early when Kyriani Sabbe received a red card for fouling Marcus Rashford in the 15th minute. Villa took full control in the second half, with Marco Asensio scoring twice and Ian Maatsen adding another. The win sets up a quarter-final clash with PSG, where Unai Emery will face his former club, and Asensio will go up against his parent team. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Prices are influenced by a multitude of dynamic factors, making it challenging for them to remain constant over time. (Listen)

EXTRA BREVITI

• Anthropic CEO Warns of Espionage Threat to AI Industry, Calls for Government Action. (Read More)

• Wife of Detained Palestinian Columbia Student Says She Was Naive to Believe He Was Safe from Arrest. (Read More)

• White House Plans High-Profile Tesla Purchase as Trump Rallies Support for Musk. (Read More)