🙏Teen Coder Made Catholic Saint

Good morning. It's Monday, Sep. 8, and we're covering, Tesla’s $1 Trillion Bet On Elon Musk, Red Sea Cable Cuts Disrupt Internet Across Asia & Middle East, Japan PM Ishiba Resigns After Election Losses, 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 $3.84 Trillion, a 0.79% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $97.24B, which makes a 24.02% increase.

• The total volume in Defi is currently $13.47B, 13.85% of the total crypto market 24-hours.

• The volume of all stablecoins is now $91.92B, which is 94.53% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 51.71%, a decrease of 0.09% over the day.

HashKey To Launch $500M Digital Treasury Fund

Hong Kong’s largest licensed crypto exchange, HashKey Group, announced Monday it will launch a $500 million Digital Asset Treasury (DAT) fund, targeting public companies and institutions looking to accumulate crypto as part of their balance sheet strategy. The fund will back projects tied to major ecosystems like Bitcoin and Ethereum, while advancing crypto asset standardization and Web3 adoption. (Read Deeper)

BUSINESS & FINANCE

Tesla’s $1 Trillion Bet On Elon Musk

Tesla’s board has unveiled a new historic pay package for CEO Elon Musk, one that could hand him up to 423.7M additional shares if the company hits ambitious growth targets. At today’s prices, the deal is worth ~$149B, but if Tesla reaches an $8.5T valuation, those shares could balloon to nearly $1 trillion. Musk has long said he needs 25% voting control to feel comfortable driving Tesla’s push into AI, autonomous vehicles, robotaxis, and humanoid robots. Today he holds just 13%.

Why It Matters: This is one of the boldest corporate pay bets in history. Shareholders are effectively wagering that Musk can transform Tesla into the world’s most valuable company or walk away with nothing if he can’t. (Read Deeper)

Nigeria Customs To Exempt Imports Under $300 From Duties

Starting September 8, 2025, the Nigeria Customs Service (NCS) will allow duty-free clearance for imported goods valued at $300 or less under a new De Minimis policy. The exemption applies to low-value consignments, e-commerce shipments, and passenger baggage, with individuals allowed up to four duty-free importations per year (excluding prohibited/restricted goods).

Why It Matters: This is a big win for Nigeria’s e-commerce, logistics, and SMEs. Faster clearance and reduced costs could boost trade flows and make Nigeria more competitive as a regional hub, but strict enforcement will be key to avoid abuse. (Read Deeper)

TECHNOLOGY & SCIENCE

Red Sea Cable Cuts Disrupt Internet Across Asia & Middle East

Internet connectivity has been hit across India, Pakistan, and parts of the UAE, after subsea cables in the Red Sea suffered outages near Jeddah, Saudi Arabia. The disruptions affected major telecom operators like Etisalat and Du in the UAE, with ripple effects across Asia and the Middle East. Microsoft confirmed that multiple undersea fiber cuts are impacting Azure cloud services, the world’s second-largest cloud provider.

Why It Matters: The Red Sea is a critical chokepoint for global internet infrastructure, carrying data between Asia, Africa, and Europe. Cable outages in this region can disrupt everything from cloud services to financial transactions. (Read Deeper)

Alibaba Backs $100M Bet On Chinese Humanoid Robot Startup

Alibaba Cloud has led a $100 million funding round into Shenzhen-based X Square Robot, one of China’s fastest-risng humanoid robot startups. The deal is the company’s eighth round since launching in late 2023 — brings its total fundraising to nearly $280 million. The company already sells units to schools, hotels, and retirement homes, with expansion plans into Japan and Singapore.

Why It Matters: China is racing to lead in humanoid robotics, blending hardware with AI breakthroughs. With Alibaba’s backing and open-source bets, X Square positions itself at the intersection of AI, automation, and consumer robotics, a sector expected to redefine domestic and commercial labor. (Read Deeper)

AROUND DE WORLD & POLITICS

Japan PM Ishiba Resigns After Election Losses

Japanese Prime Minister Shigeru Ishiba resigned Sunday after less than a year in office, stepping down amid a series of bruising election defeats blamed on soaring living costs. His exit ushers in fresh political uncertainty for the world’s fourth-largest economy just as it finalizes a $550B U.S. trade and investment deal to ease Trump-era tariffs. Ishiba’s ruling coalition lost its majority in both houses of parliament, forcing the Liberal Democratic Party (LDP) into an emergency leadership race.

Why It Matters: Ishiba’s resignation leaves Japan at a crossroads — with economic policy, central bank direction, and U.S. trade relations all hanging in the balance. (Read Deeper)

Carlo Acutis, ‘God’s Influencer,’ Becomes First Millennial Saint

The Catholic Church has canonized Carlo Acutis, a 15-year-old Italian teenager who died in 2006, making him the first official millennial saint. Nicknamed “God’s Influencer” for using his tech skills to spread faith online, Acutis created a website documenting Eucharistic miracles before his death from leukemia. Two miracles were attributed to Acutis — healing a Brazilian boy with a birth defect and a Costa Rican student who survived a severe head trauma paving the way for his rapid rise to sainthood.

Why It Matters: Carlo’s sainthood represents a generational shift in how the Church engages young people in a digital era. His tomb in Assisi, where he rests in casual clothes inside a glass sarcophagus, now attracts nearly 1 million visitors annually. (Read Deeper)

ENTERTAINMENT & SPORTS

Alcaraz Outshines Sinner For Second U.S. Open Crown, Reclaims No. 1

Carlos Alcaraz reclaimed the U.S. Open title and the world No. 1 ranking on Sunday, defeating Jannik Sinner 6-2, 3-6, 6-1, 6-4 in a blockbuster final at Arthur Ashe Stadium. The 22-year-old Spaniard now owns six Grand Slam titles, becoming the second-youngest man in the Open Era after Björn Borg to reach that milestone. (Read Deeper)

EXTRA BREVITI

• Carlo Acutis, ‘God’s Influencer,’ Becomes First Millennial Saint. (Read More)

• CBN Governor Sees Lower Interest Rates Ahead as Inflation Eases. (Read More)

• Australia’s ‘Mushroom Murderer’ Jailed for 33 Years (Read More)