Before diving into today’s news on AI, VR, Crypto, Robotics, AND NOW Web 3 as well…

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Today’s Menu

• Surge in Generative AI Job Openings

• Bitcoin Stable After $400M Liquidation

• Memecoin Institutional Allocations Surge 300%

TODAY IN AI

Surge in Generative AI Job Openings

Generative AI is exploding, and it's changing the job market as we know it. Indeed, a job posting site, saw a 75-fold increase in AI job openings in just two years (wild).

Now, you may be thinking: "But AI is going to take away jobs!" And sure, some positions may become obsolete. But here's the thing - AI is also creating new opportunities, industries, and jobs. In fact, 40% of CEOs are planning to hire more staff because of AI, according to IBM. And guess what? These AI jobs often pay a lot more than non-AI roles. 77% higher wages on average.

The bottom line is this:

AI is here to stay, and it's going to keep changing things. If you adapt to it, you have an opportunity to reap some major rewards. If you fail to adapt, you’re going to get left behind.

^{TODAY IN CRYPTO}

Bitcoin Stable After $400M Liquidation

Bitcoin barely flinched over the weekend after getting hit with a $400 million liquidation on Friday. Why? Because the U.S. jobs report came out swinging harder than expected, causing open interest and trading volume to tap out. Since Friday, unsettled futures contracts across various tokens have gone from $99 billion to $60 billion. The analysts at Presto Research are calling for the market rollercoaster to crank up the intensity this week with the CPI release on Wednesday.

On the flipside, crypto investment products are having a BIG week. They brought in $2 billion last week (up to $4.3 billion over the last few weeks). Bitcoin raked in over $1.97 billion, while Ethereum had its best week since March, pulling in nearly $70 million. Trading volumes in exchange-traded products rose 55% from the previous week to a staggering $12.8 billion.

Now, let's talk about Robinhood acquiring Bitstamp (for $200 million). This is a clear signal that crypto is becoming a bigger part of their future plans. With this deal, they're setting themselves up to cater to institutions as they dive into the digital asset world. Plus, acquiring Bitstamp for $200 million cash is a GREAT deal (compared to the $500 million price tag it had back in 2018). Even though the SEC is bashing crypto in every way possible, Robinhood is still sprinting forward into this space.

TODAY IN WEB3

Memecoin Institutional Allocations Surge 300%

Memecoin madness has reached a whole new level, and it's not just crypto bros getting in on the action. Institutional investors, who usually stick to traditional assets, are now jumping on the bandwagon too.

Allocations to memecoins have shot up by 300% this year alone. We're talking about a jump from $63M in January to $300M in April.

Retail investors and the suits alike all piled into memecoins before the halving even took place.

But here's the catch - if this scenario plays out, we might be staring down the barrel of a brutal bear market afterward. It's the price we pay for chasing insanely high gains. It’s happened before and it will happen again.

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Thanks for reading!

Until next time,

Damon