☎️ Trump And Putin Call

🌞Good morning. It's Thursday, Feb. 13, and we're covering, Apple Partners With Alibaba To Bring AI To iPhones In China, OpenAI Calls Musk’s Takeover Bid A Contradiction Amid Legal Battle, Trump And Putin Agree To Start Ukraine War Talks, 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 $3.18 Trillion, a 0.88% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $131.83B, which makes a 30.42% increase.

• The total volume in Defi is currently $11.48B, 8.71% of the total crypto market 24-hours.

• The volume of all stablecoins is now $122.37B, which is 92.82% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 59.87%, a decrease of 0.54% over the day.

Coinbase Q4 Earnings Expected To Show Best Volume Since 2021

Coinbase (COIN) is set to report Q4 2024 earnings, with analysts expecting $1.8 billion in revenue, its highest trading volume since Q4 2021. Driven by a strong crypto market rally, trading volume is projected at $195.9 billion, up from $185.3 billion in Q3. Analysts see 2025 as a pivotal year, with a focus on diversifying revenue beyond trading fees, including tokenization, smart contracts, and blockchain use in AI governance. (Read Deeper)

BUSINESS & FINANCE

Apple Partners With Alibaba To Bring AI To iPhones In China

Apple has reportedly struck a deal with Alibaba to integrate its Qwen AI models into Apple Intelligence for iPhones in mainland China. The move aims to comply with China's regulatory requirements and boost Apple's flagging sales in the region. Apple reportedly explored partnerships with Tencent and ByteDance before settling on Alibaba.

Takeaway: Alibaba’s Qwen AI models will power Apple Intelligence in China, while OpenAI’s GPT models remain the default internationally. Chinese iOS developers see the partnership as a boon for innovation, with easier AI integration into apps. Alibaba’s stock surged 8.5%, while Apple’s rose 2.2%, reflecting market optimism. (Read Deeper)

China’s Bond Rally Stalls As Yields Hit Decade-Long Discount

China’s bond rally appears to be losing steam as long-term sovereign bond yields hit their deepest discount in over a decade compared to short-term borrowing costs. The yield on 30-year bonds fell 10 basis points below the overnight interbank rate, making it less attractive for investors to borrow money to buy bonds.

Why It Matters: The rally had been driven by concerns over China’s slowing economy and a lack of high-return investment options, pushing government bond yields to multi-year lows. However, delays in interest rate cuts and efforts by the central bank to stabilize the yuan are keeping borrowing costs from falling further, limiting demand for bonds. (Read Deeper)

TECHNOLOGY & SCIENCE

OpenAI Calls Musk’s Takeover Bid A Contradiction Amid Legal Battle

OpenAI has accused Elon Musk of contradicting himself by offering $97.4 billion to buy the company while simultaneously suing it to block its shift to a for-profit model. In a letter to a federal court, OpenAI argued that Musk’s lawsuit claims the company’s assets should remain in a charitable trust, yet his bid seeks to transfer those same assets to himself and private investors. The legal battle comes as Musk’s xAI competes directly with OpenAI, further fueling tensions in the AI space.

Takeaway: Musk, who co-founded OpenAI in 2015 but left before ChatGPT’s rise, sued CEO Sam Altman in August, arguing that OpenAI’s shift to a for-profit entity violates its original mission. OpenAI, however, maintains that going for-profit is necessary to fund AI development. With Musk positioning himself as both a legal challenger and a potential buyer, OpenAI has framed his latest move as an attempt to “undermine a competitor” rather than protect OpenAI’s nonprofit roots. (Read Deeper)

X Settles Trump Lawsuit Over Twitter Suspension For $10 Million

X (formerly Twitter) has settled a lawsuit with Donald Trump for about $10 million over his 2021 suspension from the platform following the January 6 riots. Trump originally sued Twitter, Meta, and YouTube, arguing that his ban violated his First Amendment rights. Though the lawsuit against Twitter was dismissed in 2022, his lawyers appealed before reaching this settlement.

Takeaway: The case is particularly notable given Elon Musk’s relationship with Trump. Musk reinstated Trump’s account in 2022 and later spent $250 million on his 2024 campaign. Reports suggest Trump’s lawyers considered dropping the lawsuit before agreeing to the settlement. The settlement follows Meta’s recent $25 million agreement with Trump, some of which will fund his presidential library. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump And Putin Agree To Start Ukraine War Talks

U.S. President Donald Trump announced that he and Russian President Vladimir Putin have agreed to begin negotiations to end the war in Ukraine following a 90-minute phone call on Wednesday. Trump described the conversation as “highly productive” and stated that their teams would start talks immediately. Both leaders also extended invitations to visit each other’s capitals.

Takeaway: Trump hinted that Ukraine may not regain all of its pre-2014 borders, but suggested that some lost territory could be returned. He also referenced the possibility of elections in Ukraine, despite Zelensky’s insistence that martial law makes them impossible. The call comes as the war nears its third anniversary, with Russia controlling about 20% of Ukraine’s territory. (Read Deeper)

Germany Extends Border Controls As Migration Dominates Election Debate

Germany has extended its border checks for six more months until September 15 to curb irregular migration. The move, announced by Chancellor Olaf Scholz, comes as migration becomes a major issue ahead of the February 23 election. The Schengen Area allows free travel, but countries can temporarily reintroduce border checks in response to security threats.

Takeaway: Since last fall, Germany has turned back 47,000 migrants, seen a one-third drop in asylum requests, and arrested 1,900 smugglers. Originally imposed on borders with Poland, Czech Republic, Austria, and Switzerland, the checks were later extended to France, Luxembourg, Netherlands, Belgium, and Denmark. (Read Deeper)

ENTERTAINMENT & SPORTS

Tragic Lightning Strike Kills Four Female Soccer Players In Colombia

A lightning strike during a soccer match in Cajibio, Colombia, claimed the lives of four female players and left two others severely burned. The victims are Jeidy Morales, Daniela Mosquera, Luz Lame, and Etelvina Mosquera were seeking shelter from a storm when a lightning bolt struck a nearby tree, causing the fatal incident. Witnesses reported that it was not raining, but the sky was cloudy when the lightning struck. A male spectator also died later in the hospital from injuries. (Read Deeper)

Goodison’s Merseyside Derby Ends In Chaos And Controversy

In an explosive farewell to Goodison Park, Liverpool’s last-ever Merseyside derby at the historic ground ended in chaos and controversy. The match, which finished 2-2, saw dramatic twists including a 98th-minute equalizer from Everton defender James Tarkowski making him the last scorer in a Goodison derby. The game was marked by multiple red cards, with four issued after the final whistle, including one to Liverpool manager Arne Slot for arguing with the officials. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• In China, WeChat has become an integral part of daily life, offering a multitude of services from messaging and social networking to payments and e-commerce within a single platform. (Listen)

EXTRA BREVITI

• Nigerians are furious over a sharp rise in mobile data prices by major telecom providers MTN and Airtel. (Read More)

• Anthropic, the AI startup competing with OpenAI, has projected that its revenue could soar to $34.5 billion by 2027. (Read More)

• Blue Origin is preparing for a layoffs as the company shifts its focus from research and development to increasing rocket launches. (Read More)

• Cisco’s stock jumped 6% in after-hours trading following a better-than-expected Q2 earnings report and an increased full-year revenue forecast. (Read More)