This Week's Fed Meeting (brace for crypto market upheaval)

June 12th, 2024

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Read Time: 10 Minutes

Today’s Menu

  • Markets Brace for Impact: $210M Token Unlocks This Week

  • Apple's AI Revolution: From Genmojis to Smart Handwriting

  • Memecoin Institutional Allocations Surge 300%

TODAY IN Crypto

Markets Brace for Impact: $210M Token Unlocks This Week

The June Fed meeting is upon us, so Jerome Powell and his compadres are about to release all the updates on inflation, interest rates, and economic policies. Markets are betting big (97.8%) on no change, with a 2.2% chance of a 25 bps rate cut. Chairman Powell speaks today and there'll be additional Fed speeches all week long. So, what's your take? Will we see a rate cut in the next 3 months? A/ It's a sure thing, B/ Maybe, maybe not, or C/ Not a snowball's chance in hell. Hit reply and give us your thoughts!

Moving on to earnings, we've got some heavy hitters reporting this week: Oracle on Tuesday, Broadcom on Wednesday, and Adobe, RH, and Lovesac on Thursday. If the stock market crushes it, expect the crypto markets to follow suit.

Finally, brace yourselves for $210M worth of tokens hitting the market this week. Some notable unlocks include Aptos with $95.8M (1.13% of circulating supply, 2.58% of float) on Tuesday, Arbitrum with $90.8M (0.93% of circulating supply, 3.2% of float) on Saturday, and ApeCoin with $8.5M (0.73% of circulating supply, 1.17% of float) on Saturday.

This week is not for the faint of heart. BTC took a large dip yesterday (I believe the bottom was at $66K). As of this morning it has stabilized at $69K. ETH also dipped and currently sits at $3,600.

TODAY IN AI

Apple's AI Revolution: From Genmojis to Smart Handwriting

Apple's finally jumping on the AI bandwagon, and it's not holding back. After OpenAI's chatbot demo earlier this year, Apple's ready to show the world what it's been cooking up behind closed doors. Brace yourselves for "Apple Intelligence," a suite of AI-powered features that'll make your iOS devices smarter than ever.

First up, say hello to "genmojis." These AI-generated illustrations can be created in seconds, featuring you, your friends, or whatever you want. No more generic emojis – it's time to get personal.

The new image wand will transform your rough sketches into stunning masterpieces. Got a vision in mind? Just describe it, and let the AI create it. Plus, your photos are getting a major upgrade. Apple Intelligence will clean up and enhance your shots automatically, and you can even search for specific photos by describing them in plain English.

On the text front, Apple's making big changes too. Proofreading emails? Summarizing key points? Generating multiple writing options? Check, check, and check. Your emails, notes, and keynotes are about to get a serious boost.

Ever wished you could transcribe meetings directly into your Notes app? Well, now you can. And not just that – you can ask for summaries and other details about your calls. It's like having a personal assistant without the hefty price tag.

iPad users, get excited. The new smart script feature will clean up your handwriting in real-time, making your scribbles look like a work of art. And if you want to add a personal touch to your messages, just copy the text and watch it transform into your own handwriting.

Now, you might be thinking, "What about privacy?" Don't worry; Apple's got that covered. Low-level AI tasks will happen directly on your device, while more intensive tasks will be handled by secure servers. And even though your device will understand personal details like your daughter's soccer game location and how long it'll take to get there, Apple swears this info is encrypted and inaccessible to anyone else – even Apple itself.

So, there you have it. Apple's AI revolution is here, and it's set to change the game. Get ready to embrace a smarter, more intuitive iOS experience. The future is now, and it's looking pretty darn exciting.

Also - and probably the biggest news of the week - the Apple + OpenAI partnership is HUGE. We’ll be covering this in depth later this week.

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 bought heavy into memecoins before the halving even took place a few weeks ago.

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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