🚀SpaceX Loses Spacecraft

☀️Good morning. It's Friday, Jan. 17, and we're covering, Chinese Buyers Shifting To Brazilian Soybeans Amid U.S. Trade Concerns, SpaceX's Starship Upper Stage Lost On Seventh Test Flight, Booster Successfully Recovered, Netanyahu Confirms Hostage Deal With Hamas Amid Gaza Ceasefire Agreement, 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 $3.58 Trillion, a 2.22% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $163.87B, which makes a 5.75% increase.

• The total volume in Defi is currently $11.25B, 6.87% of the total crypto market 24-hours.

• The volume of all stablecoins is now $148.14B, which is 90.40% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.32%, a decrease of 0.15% over the day.

XRP Surges To 7-Year High, Now Third-Largest Cryptocurrency

XRP (CRYPTO: XRP) surged past $3 for the first time in seven years, becoming the third-largest cryptocurrency by market capitalization at $174 billion, surpassing Tether (USDT). The rally was driven by optimism over a potential shift in the SEC's stance under the incoming Trump administration, the possibility of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD stablecoin. Trading volume and open interest in XRP futures also soared, reflecting heightened market activity. (Read Deeper)

BUSINESS & FINANCE

Chinese Buyers Shifting To Brazilian Soybeans Amid U.S. Trade Concerns

Chinese soybean processors are shifting to Brazilian soybeans, driven by concerns that the U.S. may impose tariffs on imports after President-elect Donald Trump's return to office. This shift is affecting U.S. exports, with Chinese buyers securing nearly all their first-quarter soybean shipments from Brazil. Brazilian soybeans, priced more competitively than U.S. beans, have become a more attractive option for Chinese importers, with favorable weather conditions and a weakened Brazilian real lowering production costs.

Why It Matters: The U.S.-China trade tensions, particularly following Trump's threats of tariffs on Chinese goods, have already led to changes in trade flows. Brazil now accounts for a significantly larger share of China's soybean imports, having increased from 46% in 2016 to 74% in the first 11 months of 2024. In contrast, the U.S.'s share has dropped to just 18%. While China is likely to import fewer soybeans in the first quarter of 2025 compared to last year, state-owned stockpiler Sinograin is still purchasing U.S. soybeans. (Read Deeper)

Trump To Elevate Cryptocurrency As A National Priority With Executive Order

President-elect Donald Trump plans to issue an executive order making cryptocurrency a national priority. The order will establish a crypto advisory council, encourage government collaboration with the industry, and potentially pause ongoing litigation against major crypto firms like Binance and Ripple. A proposal to create a national Bitcoin stockpile, leveraging the government’s existing $20 billion Bitcoin holdings, is also under discussion.

Takeaway: This policy shift follows years of regulatory scrutiny under President Joe Biden and reflects Trump’s campaign commitment to positioning the U.S. as a global leader in digital assets. Industry support for Trump has been strong, with donations and events celebrating his pro-crypto stance. Bitcoin prices have surged over 50%, reaching $101,754, in anticipation of his administration’s favorable crypto policies. (Read Deeper)

TECHNOLOGY & SCIENCE

SpaceX's Starship Upper Stage Lost On Seventh Test Flight, Booster Successfully Recovered

SpaceX launched its Super Heavy-Starship rocket on its seventh test flight, achieving a significant milestone by successfully recovering the booster at the launch pad using mechanical arms. However, the mission faced a setback as the Starship upper stage disintegrated during ascent, with telemetry lost eight minutes after liftoff due to a reported fuel and oxygen leak that caused a fire.

Takeaway: The Federal Aviation Administration (FAA) confirmed brief air traffic disruptions due to falling debris near the Turks and Caicos Islands. Despite the anomaly, SpaceX tested key upgrades, including improved heat shields, advanced avionics, and a new satellite deployment mechanism. Starship is a critical component of NASA’s Artemis program, aiming to transport astronauts to the Moon in the late 2027. (Read Deeper)

TikTok Gains Momentum In Fight To Avoid U.S. Ban

TikTok's prospects of avoiding a U.S. ban improved as bipartisan support emerged to extend the deadline for ByteDance, its Chinese owner, to divest its U.S. assets. Lawmakers, including Senator Chuck Schumer and Representative Mike Waltz, called for a 90-day extension to finalize a deal, citing concerns over disrupting millions of users. The Biden administration has indicated it will not enforce the ban, leaving the decision to the incoming Trump administration.

Takeaway: The U.S. Supreme Court is deliberating on the legality of the ban and could issue rulings soon. Meanwhile, reports suggest Trump may issue an executive order to allow TikTok's continued operation until a buyer is secured. TikTok has not publicly commented but plans to shut down U.S. operations if a solution is not reached. (Read Deeper)

AROUND DE WORLD & POLITICS

Netanyahu Confirms Hostage Deal With Hamas Amid Gaza Ceasefire Agreement

Israeli Prime Minister Benjamin Netanyahu has confirmed a finalized agreement for a hostage release deal with Hamas, brokered by the U.S. and Qatar. The deal involves a six-week ceasefire, during which 33 Israeli hostages will be exchanged for Palestinian prisoners. Israeli forces will pull back from densely populated areas in Gaza, allowing aid to flow and displaced Palestinians to return home. The ceasefire, expected to start Sunday, follows weeks of intense conflict that has caused over 46,788 deaths in Gaza

Takeaway: The agreement, signed in Doha, requires approval from Israel's security cabinet and full government. Two right-wing ministers have opposed the deal but won’t destabilize the government if the war resumes after six weeks. The deal includes plans for further negotiations to release remaining hostages, ensure a full Israeli troop withdrawal, and begin Gaza’s reconstruction. (Read Deeper)

China Vice President Han Zheng Will Attend Trump's Inauguration

China is sending Vice President Han Zheng to President-elect Donald Trump's inauguration, marking the first time a senior Chinese leader will attend a U.S. presidential swearing-in. Han will attend as Xi Jinping’s special representative, following an invitation from the U.S. transition team. China aims to strengthen dialogue with the new U.S. government and improve bilateral relations.

Takeaway: While U.S.-China relations have been tense, particularly over trade, technology, and Taiwan, Trump’s tough stance on China is expected to continue, with potential tariffs and national security concerns, especially related to tech companies like TikTok. As the two powers continue to manage their complex relationship, the upcoming inauguration will set the tone for what is likely to be another challenging chapter in U.S.-China relations. (Read Deeper)

ENTERTAINMENT & SPORTS

Naomi Osaka Retires Injured from Australian Open, Ending Promising Run

Naomi Osaka, a two-time Australian Open champion, has retired injured from her third-round match against Belinda Bencic. Osaka was leading 4-1 in the first set but began struggling with an abdominal injury. She called for a physio at 6-5 but continued to suffer, ultimately deciding to retire before the start of the second set. Osaka, who returned to the WTA Tour after maternity leave following the birth of her daughter Shai in July 2023, had previously struggled at Grand Slams last year. (Read Deeper)

Manchester United Reject Napoli’s Bid For Alejandro Garnacho

Napoli’s bid to sign Alejandro Garnacho from Manchester United has been rejected, with their £40 million offer falling short of United's valuation. Despite being open to selling academy players to fund a rebuild, manager Ruben Amorim views Garnacho as a crucial part of the team’s future. Garnacho, 20, has made 117 appearances and scored 23 goals since joining United in 2021. He has been in good form this season, contributing eight goals in 31 matches. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Achieving a net worth of $1,000,000 after graduation is an ambitious goal that requires strategic planning, dedication, and informed decision-making. Here are five steps to guide you on this journey. (Listen)

EXTRA BREVITI

• Amazon Lays Off 200 Employees in North America Stores Unit Amid Cost-Cutting Efforts. (Read More)

• Apple Halts AI-Generated News Summaries After Backlash Over False Alerts.(Read More)

• Microsoft has announced that its Copilot AI features will now be available to individual consumers through its Microsoft 365 suite. (Read More)