In Today’s Edition

• Ripple Splashes $250 Million on Metaco Acquisition

• Tiger Global Looking To Sell Off Startup Stakes

• Tether to Further Strengthen Reserves Through Purchase of Bitcoin with Realized Net Operating Profits

• The AI takeover of Google Search starts now

• StableStudio is Stability AI’s latest commitment to open-source AI

• Long-sought universal flu vaccine: mRNA-based candidate enters clinical trial

• Researchers treat depression by reversing brain signals traveling the wrong way

🚀Startups Nuts

Ripple Splashes $250 Million on Metaco Acquisition

Ripple, a cryptocurrency company, has acquired Swiss crypto custody startup Metaco for $250 million. The purchase indicates Ripple's expansion into crypto custody services for institutional investors. Despite being embroiled in a long-standing legal dispute with the SEC, Ripple's move signals its intent to keep moving forward and offering tools for custody, issuance, and settlement of tokenized assets. While Ripple acquired 100% of Metaco, which operates in various global markets, Metaco will continue to function as an independent brand.

Tiger Global Looking To Sell Off Startup Stakes — Report

The New York-based investment firm is reportedly planning to sell off some stakes in startups through a secondary sale to return capital to its investors, following recent markdowns and a reduction in the target size of its latest venture fund.

🏭Business Nuts

Tether to Further Strengthen Reserves Through Purchase of Bitcoin with Realized Net Operating Profits

Tether plans to allocate up to 15% of its net realized operating profits toward purchasing Bitcoin monthly. The move is aimed at strengthening and diversifying its reserves portfolio. The strategy will only consider tangible gains from operations, excluding unrealized capital gains from price increases. Tether's investment in BTC aligns with its belief in BTC's growth potential and its decentralized nature. Tether will also invest in building peer-to-peer communication, energy, and Bitcoin mining infrastructure. While this may be perceived as risky given the volatility of the price of BTC, the Company emphasizes adherence to stringent risk management practices to maintain the stability of USDT.

📱Tech Nuts

The AI takeover of Google Search starts now

Google is putting AI into its search results. It implemented an AI snapshots feature that appears at the top of Search. The feature pulls information from the web and outputs a summary and links. An algorithm determines whether the AI can provide a useful answer, so not all searches will trigger an AI response. The feature can be accessed by opting into Search Generative Experience in Search Labs. Screenshots of the feature are available in the article.

StableStudio is Stability AI’s latest commitment to open-source AI

Stability AI is releasing an open-source version of DreamStudio called StableStudio. StableStudio will allow community developers to improve and experiment with Stable Diffusion's interface. Stability AI's approach to open-source has helped drive interest in its products and improve the company's software. StableStudio could compete with DreamStudio. Stability AI has previously said that it plans to create customized versions of DreamStudio for corporate clients, but it is unclear how successful this strategy has been.

🎁Miscellaneous

Long-sought universal flu vaccine: mRNA-based candidate enters clinical trial

An mRNA-based flu vaccine designed to offer long-lasting protection against various influenza viruses is now in phase I clinical trial. Health systems worldwide battle seasonal influenza by reformulating yearly shots to match circulating strains. A universal influenza vaccine would be a major public health achievement. It would eliminate the need for annual flu shots. The vaccine could also help protect against the spread of a future flu pandemic.

Researchers treat depression by reversing brain signals traveling the wrong way

Researchers have discovered the mechanism behind how transcranial magnetic stimulation helps bring relief to severely depressed patients. The treatment works by reversing the direction of abnormal brain signals. Those with the most severe depression were the most likely to benefit from the treatment. The research suggests that backward streams of neural activity between key brain areas could be used as a biomarker to help diagnose depression.

💡What else are we reading and seeing?

• Web3 Social Media Under the Lens

• The Promise of Crypto Has Not Lived Up to Its Initial Excitement

• Can OSOP give artisans a new lease on life?

😎Fun Fact

The Antwerp Bourse was a major center for international trade and finance for centuries. It was eventually closed in 1795 during the French Revolutionary Wars.

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