🚀SpaceX Catches Giant Starship

☀️Good morning. It's Monday, Oct. 14, and we're covering, Asia Shares Stumble As China's Stimulus Measures Fall Short Of Expectations, SpaceX Achieves Major Milestone By Catching Starship Booster In Mid-Air, Israeli Tanks Enter UN Peacekeeper Base, and much more. First time reading? Sign up to get this newsletter: Sign up here.

We always Listen and respond to questions and feedback, email us at [email protected]

MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.23 Trillion, a 1.81% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $61.77B, which makes a 36.30% increase.

• The total volume in Defi is currently $3.69B, 5.98% of the total crypto market 24-hours.

• The volume of all stablecoins is now $55.63B, which is 89.73% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.78%, an increase of 0.16% over the day.

Bitcoin Surges To $64,300 Amid Chinese Stimulus Optimism

Bitcoin saw a 2.14% increase, trading around $64,000 on Monday in Asia, driven by optimism surrounding China's fiscal stimulus announcement. The stimulus has boosted Chinese equities, with the Shanghai Composite Index rising by 2.12%. other cryptocurrencies also performed well, with Ethereum rising 3.24% to $2,539 and Solana gaining 4.67% to trade above $152. ( Read Deeper )

BUSINESS & FINANCE

Asia Shares Stumble As China's Stimulus Measures Fall Short Of Expectations

Asian stock markets experienced mixed trading on Monday as investors reacted to China's recent economic stimulus announcements, which lacked specific details. China's Finance Minister Lan Foan indicated a significant increase in debt but did not disclose the total size of the stimulus, leaving investors uncertain about its potential impact on the stock market. The Hang Seng Index in Hong Kong fell 0.41%, while mainland China's CSI300 index rose by 1.52%, and the Shanghai Composite Index gained 2.12%. Property stocks benefited from speculation that the stimulus could support the struggling sector.

Takeaway: The MSCI Asia-Pacific index saw a slight increase of 0.12%, while U.S. stock futures dipped slightly. Concerns over China's economic outlook were heightened by data showing easing consumer inflation and worsening producer price deflation. The onshore yuan weakened, and oil prices fell amid worries about declining demand from China. Despite these challenges, analysts at Goldman Sachs raised their GDP forecast for China to 4.9% for the year, though they maintained that long-term structural issues remain unresolved. (Read Deeper)

Global Banks Set Their Sights On Biodiversity At COP16 Summit

Some of the world's largest banks, including JPMorgan Chase, Standard Chartered, Citigroup, Bank of America, HSBC, and Deutsche Bank, are preparing to attend the upcoming COP16 biodiversity summit in Cali, Colombia. These banks seek to explore monetizing biodiversity and nature, a theme previously overlooked by Wall Street. The United Nations has emphasized the need for private finance to address the ongoing mass extinction of species and environmental degradation.

Takeaway: Banks are currently exploring innovative financial products, such as debt-for-nature swaps, which allow governments to refinance debt while directing savings towards conservation. There are also discussions around biodiversity credits, similar to carbon credits, to help investors offset their impact on biodiversity. However, the market for these products remains underdeveloped. ( Read Deeper )

TECHNOLOGY & SCIENCE

SpaceX Achieves Major Milestone By Catching Starship Booster In Mid-Air

During its fifth Starship test flight, SpaceX achieved a major milestone by successfully catching the Super Heavy booster, the rocket’s first stage, using giant mechanical arms. The booster launched from Boca Chica, Texas, and after separating from the Starship second stage at an altitude of 70 km, it re-lit its engines to descend back to the launch pad, where a towering launch tower caught it mid-air. This marks a key step in SpaceX’s goal of making rockets fully reusable for missions to the moon and Mars.

Takeaway: The second stage, Starship, reached space and re-entered Earth’s atmosphere before landing in the Indian Ocean. Although an explosion followed, it remains unclear whether this was planned or a result of a malfunction. The successful booster catch and other advancements bring SpaceX closer to its goal of revolutionizing space travel. (Read Deeper)

TikTok Acknowledges Its App Negative Effects On Teens, Lawsuit Claims

Recent court documents suggest that TikTok executives are aware of the app's negative effects on teenagers' mental health. The findings were part of a lawsuit filed by 14 U.S. attorneys general, which accuses TikTok of harming children's mental health. The company’s internal research allegedly reveals that compulsive use of the app is linked to issues like reduced analytical skills, memory problems, lower empathy, and increased anxiety.

Takeaway: The lawsuit highlights that a parental control feature, designed to limit kids' screen time, only reduced usage by an average of 1.5 minutes per day, with TikTok reportedly focusing more on improving public trust than addressing mental health concerns. TikTok has denied the claims, calling the reporting misleading and out of context. (Read Deeper)

AROUND DE WORLD & POLITICS

Israeli Tanks Enter UN Peacekeeper Base

Israeli tanks entered a United Nations peacekeeping base (UNIFIL) in southern Lebanon, destroying the main gate and triggering an incident that sickened U.N. personnel after smoke from nearby explosions drifted across the base. Israel's military explained that the tank had accidentally backed into the base during heavy fire from Hezbollah, which had launched an attack that wounded 25 Israeli soldiers. Israel denied any intention of storming the base and claimed the tank was retreating under fire. The situation has drawn international concern, including from Italy, France, and Spain, all of which have personnel in the UNIFIL force.

Takeaway: The incident is part of the larger conflict between Israel and Hezbollah, which resumed over a year ago and has sharply escalated in recent weeks, following Hezbollah's support for Hamas in the Gaza conflict. The United Nations condemned the incident and reiterated that attacks on peacekeepers are illegal under international law and may constitute war crimes. Peacekeepers have struggled to monitor the conflict, with previous Israeli actions already limiting their capabilities. (Read Deeper)

Man Arrested Near Trump Rally In Coachella With Guns And Fake Passports

A man named Vem Miller was arrested near a Donald Trump rally in Coachella, California, for possessing two firearms, including a loaded handgun and shotgun, as well as fake passports. Miller was stopped at a security checkpoint, and authorities discovered a high-capacity magazine and irregularities like fake license plates and multiple IDs in his vehicle. He was taken into custody without incident and released on $5,000 bail. The U.S. Secret Service confirmed Trump was not in danger, and federal authorities are continuing to investigate, though no federal charges have been filed yet.

Takeaway: The arrest comes as security around Trump remains heightened due to previous assassination attempts earlier this year. Sheriff Chad Bianco, an outspoken Trump supporter, suggested that his officers might have averted a possible assassination attempt but added it was too early to determine the suspect's intentions. Miller, who was released on $5,000 bail. (Read Deeper)

ENTERTAINMENT & SPORTS

Kanye West Accused Of Drugging And Assaulting Former Assistant In Lawsuit

Kanye West is facing serious allegations in a lawsuit filed by his former personal assistant, Lauren Pisciotta. According to court documents obtained by the New York Post, Pisciotta accuses West of drugging and sexually assaulting her during a party hosted by Sean "Diddy" Combs at a Santa Monica music studio. The incident allegedly occurred before she worked for West from 2021 to 2022. Pisciotta claims that West forced party guests to drink, and after taking a few sips, she began to feel disoriented and could not recall what followed. (Read Deeper)

Djokovic Denied 100th Title As Sinner Triumphs In Shanghai

Novak Djokovic fell short of claiming the 100th title of his illustrious career as Jannik Sinner secured a 7-6 (7-4), 6-3 victory in the Shanghai Masters final. The win marks Sinner's seventh title of the year, showcasing his impressive form, especially as he continues to dominate the 2024 season with a record of 65 wins in 71 matches. Djokovic, aiming to become the third player in history to reach the milestone of 100 titles, faced a challenging match against the 23-year-old Italian. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• A deep Dive into the concept of "data center vampires" large technology companies that extract immense amounts of data and resources. (Listen)

EXTRA BREVITI

• As AI becomes increasingly reliant on vast amounts of data for training, the potential for using synthetic data generated by AI itself has garnered attention. (Read More)

• Anthropic CEO Dario Amodei Embraces Techno-Optimism in 15,000-Word Essay on AI. (Read More)

• A suspect in the killing of an off-duty Florida sheriff’s deputy, Brad McNew, was captured in North Carolina on Sunday. (Read More)

• The United States wants to send a Terminal High Altitude Area Defense (THAAD) missile defense battery to Israel, along with U.S. troops to operate the sophisticated system. (Read More)