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“The Time Has Come For Policy To Adjust” - J. Powell
Damon James
August 26, 2024
August 26th, 2024
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Read Time: 10 Minutes
Today’s Menu
27 Humanoids Unveiled to Challenge Tesla’s Optimus
Bitcoin Eyes New Highs Amid Fed’s Rate Cut Signal, But Toncoin Tanks After CEO Arrest
Markets
Price | 1 Day Change |
|---|
Bitcoin | $63,568 | .8% ⬆️ |
|---|---|---|
Ethereum | $2,727 | 1.3% ⬇️ |
Solana | $158 | .7% ⬇️ |
TODAY IN Robotics
27 Humanoids Unveiled to Challenge Tesla’s Optimus
At the 2024 World Robot Conference in Beijing, Chinese companies showcased 27 humanoid robots, directly challenging Tesla’s Optimus.
Among the highlights were AGIBOT’s industrial robots powered by large language models and Astribot’s S1, capable of playing musical instruments. Despite the impressive display, experts point to significant technological and cost challenges ahead.
With this massive showcase, China is signaling its intent to dominate the humanoid robotics industry, bringing us closer to commercially available humanoids than many anticipated.
I’ve yet to check out the videos on this, but I’m curious how they compare in terms of price and also capability to the Figure 02 bots that were recently released.
A lot of robotics will be heavily centered on the manufacturing industry (an area where China is much more cost effective than the US), so it’s definitely important for the Chinese economy to stay ahead of the curve with robotics.
Today In Crypto
Bitcoin Eyes New Highs Amid Fed’s Rate Cut Signal, But Toncoin Tanks After CEO Arrest
“The Time Has Come For Policy To Adjust”
-Jerome Powell
Bitcoin hovered near $64,000 this morning, briefly hitting $65,000 over the weekend after Fed Chair Jerome Powell hinted at a potential rate cut in September.
Meanwhile, Solana outperformed other crypto majors, rising 3% despite doubts over a SOL-based spot ETF in the U.S. Conversely, Toncoin plummeted nearly 17% following the arrest of Telegram CEO Pavel Durov, stemming from legal issues in France.
Amidst these developments, spot bitcoin ETFs saw a $250 million inflow on Friday, with trading volume hitting a monthly high.
Another big development in politics is Robert F. Kennedy’s endorsement of Trump for President. Trump and RFK Jr. are both relatively pro-crypto so this additional endorsement will likely swing more voters in Trump’s direction.
As of now, it seems that Kamala Harris and Walz have yet to take a firm stance one way or the other on crypto.
In other news…
Kathie Wood (CEO of Ark Invest) just moved her price target on Bitcoin from $650,000 by 2030 to $1.5M by 2030.
I’m always a bit skeptical when I hear massive estimates like this (or the one from Balaji earlier this year)…
But I REALLY hope she is right.
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