🤑xAI Raises $6 Billion

☀️Good morning. It's Tuesday, Dec. 24, and we're covering, Apple Nears $4 Trillion Market Cap Amid Investor Optimism On AI, xAI Raises $6 Billion To Accelerate AI, China To Issue $411 Billion In Special Treasury Bonds In 2025, 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 $3.34 Trillion, a 1.04% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $156.16B, which makes a 6.66% increase.

• The total volume in Defi is currently $12.66B, 8.11% of the total crypto market 24-hours.

• The volume of all stablecoins is now $147.35B, which is 94.36% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.21%, a decrease of 1.21% over the day.

Metaplanet Expands Bitcoin Holdings With 619.7 BTC Acquisition

Tokyo-based investment firm Metaplanet Inc. has further strengthened its commitment to Bitcoin, announcing the purchase of 619.7 BTC for approximately $58.9 million at current market rates. This latest acquisition brings the firm’s total Bitcoin holdings to 1,761.98 BTC, valued at around $167.1 million. The purchase follows a successful 9.5 billion yen ($60.6 million) bond issuance, which Metaplanet had earmarked for expanding its Bitcoin reserves. (Read Deeper)

BUSINESS & FINANCE

Apple Nears $4 Trillion Market Cap Amid Investor Optimism On AI

Apple is on the verge of becoming the first company to reach a $4 trillion market valuation. It is driven by investor optimism about its artificial intelligence (AI) advancements and expectations of an iPhone sales rebound. Its stock has surged 16% since early November, adding $500 billion to its market cap, now at $3.85 trillion. Still, Apple’s dominance in the tech sector and its pivot toward AI have reinforced investor confidence, putting it ahead of competitors Nvidia and Microsoft

Takeaway: Apple's recent AI push includes integrating OpenAI's ChatGPT into its devices and apps, aiming to rejuvenate iPhone demand. Analysts predict revenue from iPhone sales will rebound in 2025 as Apple expands its AI features and geographic availability. concerns persist about the company's high valuation, with its price-to-earnings ratio hitting a near three-year high. Challenges like potential U.S.-China trade tariffs and slowing iPhone sales this holiday season also loom. (Read Deeper)

Singapore Emerges As Crypto Hub Leader Over Hong Kong

Singapore is solidifying its position as Asia's leading digital-asset hub, awarding 13 crypto licenses in 2024 more than double its total in 2023 to key players like OKX, Upbit, Anchorage, BitGo, and GSR. In contrast, Hong Kong has struggled to gain momentum, issuing only seven full licenses to date, with many approvals delayed or restricted. Singapore is increasingly seen as the safer and more promising long-term choice for digital asset companies.

Why It Matters: Singapore’s regulatory framework encourages collaboration between new entrants and established institutions, making it a favorable environment for crypto innovation. Meanwhile, Hong Kong’s cautious approach and influence from China's crypto ban have deterred firms like OKX and Bybit from pursuing licenses. Both cities have seen progress in blockchain projects, but Singapore’s supportive stance and comprehensive tokenization initiatives, such as Project Guardian, give it a competitive edge. (Read Deeper)

TECHNOLOGY & SCIENCE

xAI Raises $6 Billion To Accelerate AI

Elon Musk’s AI company, xAI, has secured $6 billion in a fresh funding round, doubling its total capital raised to $12 billion. The announcement, disclosed via a U.S. Securities and Exchange Commission filing, reveals that the round included prominent investors such as Andreessen Horowitz, Nvidia, BlackRock, and Fidelity, among others. Notably, only previous xAI backers were allowed to participate.

Takeaway: The round involved 97 investors and required a minimum investment of $77,593. Only prior backers were allowed to participate. xAI’s generative AI model, Grok, is integrated into X (formerly Twitter) and offers features like real-time data access, text rewriting, Q&A, and image generation. A standalone iOS app and API for third-party platforms have also been launched. xAI operates a Memphis data center with 100,000 Nvidia GPUs, aiming to double its capacity. (Read Deeper)

South Korean Researchers Unveils ‘Iron Man’ Robot For Paraplegics

South Korean researchers at KAIST have developed a groundbreaking exoskeleton robot called WalkON Suit F1 to help paraplegic individuals regain mobility. The lightweight suit, made of aluminum and titanium, weighs 50 kg (110 lb) and is powered by 12 electronic motors that simulate joint movements. It features advanced sensors to ensure balance, predict user intent, and navigate obstacles, as cameras analyze the environment for stairs and hazards.

Takeaway: Team member Kim Seung-hwan, a paraplegic, demonstrated the suit, showcasing its ability to walk at 3.2 kph (2 mph), climb stairs, and perform lateral movements. Inspired by Iron Man, the team designed the suit to approach users and assist them in standing up, making it highly user-friendly. The WalkON Suit F1 earned international acclaim, winning gold in the exoskeleton category at Cybathlon 2024. (Read Deeper)

AROUND DE WORLD & POLITICS

China To Issue $411 Billion In Special Treasury Bonds In 2025

China plans to issue a record 3 trillion yuan ($411 billion) in special treasury bonds in 2025 to stimulate its struggling economy. This is to increase from this year's 1 trillion yuan. The funds will support initiatives such as consumer subsidies for durable goods, business equipment upgrades, and investments in advanced sectors like electric vehicles and green energy, some of the money will be used to recapitalize state banks facing financial challenges.

Why It Matters: This move comes on the heels of the Central Economic Work Conference, where officials acknowledged the need for steady economic growth and additional government debt issuance in 2025. The bond issuance will represent 2.4% of China’s GDP for 2023. Although such large-scale issuance has occurred in the past—like in 2007 when China raised 1.55 trillion yuan or 5.7% of GDP. (Read Deeper)

Luigi Mangione Pleads Not Guilty In Murder Of UnitedHealth CEO Brian Thompson

Luigi Mangione, accused of murdering Brian Thompson, the CEO of UnitedHealth Group’s UnitedHealthcare unit, pleaded not guilty to state charges of murder as an act of terrorism and weapons offenses. The killing occurred on December 4 in Manhattan. Mangione faces a maximum life sentence if convicted. The murder has sparked mixed reactions, with some rallying behind Mangione due to anger over healthcare costs.

Takeaway: Luigi Mangione was arrested in Pennsylvania and extradited to New York, where he faces both state and federal charges, including stalking and killing Thompson. The federal charges could result in the death penalty. Mangione's lawyer argues that he is being treated as a political symbol, affecting his right to a fair trial. (Read Deeper)

ENTERTAINMENT & SPORTS

Amber Heard Responds To Blake Lively’s Allegations Against Justin Baldoni

Amber Heard responded to Blake Lively's allegations against Justin Baldoni, her co-star in It Ends With Us, by discussing the power of social media in shaping public perceptions. Heard highlighted how "a lie travels halfway around the world before the truth can get its boots on," referring to her own experience with public scrutiny during her defamation trial with Johnny Depp. Lively accused Baldoni of sexual harassment and creating a hostile work environment, alleging that he hired a PR crisis team to manipulate social media and damage her reputation. Baldoni's lawyer, Bryan Freedman, denied the allegations. (Read Deeper)

Arsenal’s Bukayo Saka To Miss ‘Many Weeks’ With Hamstring Injury

Arsenal winger Bukayo Saka will be out for "many weeks" due to a hamstring injury sustained during the team's 5-1 win against Crystal Palace. Manager Mikel Arteta confirmed the severity of the injury, stating that Saka’s absence will significantly affect the team. Arteta emphasized the importance of managing Saka's recovery, mentioning the impact of the busy fixture schedule on players. Gabriel Martinelli is expected to step in to fill the void on the right wing. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• David Goggins, a retired Navy SEAL and ultramarathon runner, emphasizes the importance of discipline and mental toughness in waking up early and achieving success. (Listen)

EXTRA BREVITI

• Stranded NASA Astronauts Celebrate Christmas in Space with Santa Hats, Raising Questions. (Read More)

• Sudan Withdraws from Hunger-Monitoring System Ahead of Famine Report. (Read More)

• Electric aircraft startup Lilium has officially ceased operations and laid off around 1,000 workers after failing to secure the financing needed to overcome insolvency. (Read More)