In Today’s Edition

• Crypto Custody Firm BitGo Cancels Acquisition of Rival Prime Trust

• See the pitch memo that raised €105m for four-week-old startup Mistral

• Microsoft milestone brings it a bit closer to quantum supercomputer

• Overstock.com wins auction for Bed Bath & Beyond’s intellectual property, digital assets

• The next version of Stable Diffusion won't produce spaghetti hands

• The bad blood between Musk and Zuckerberg began with a bang

🚀Startups Nuts

Crypto Custody Firm BitGo Cancels Acquisition of Rival Prime Trust

Crypto custodian BitGo has called off acquiring rival Prime Trust due to undisclosed difficulties. Prime Trust has faced several challenges recently, including a change in CEO, layoffs, and its subsidiary Banq filing for bankruptcy. According to crypto exchanges Stably and Coinmetro, Prime Trust halted all deposits and withdrawals by order of the Nevada Financial Institution Division.

See the pitch memo that raised €105m for four-week-old startup Mistral

We are not normally a fan of the register-to-view-it kinds of stories like this, but we will say this memo is an interesting read and also a clear sign of the FOMO out there along with an EU-centric response to the current US domination in the AI-landscape.

🏭Business Nuts

Microsoft milestone brings it a bit closer to quantum supercomputer

Microsoft claims it achieved a breakthrough in fundamental physics by demonstrating the ability to create and control Majorana quasiparticles. Majorana quasiparticles are a stable but elusive particle that has properties that could lead to fewer errors in quantum computing. The breakthrough signifies the completion of the first of a six-step plan to creating a quantum computer. Microsoft's next step will be to work on hardware-protected qubits that will eventually lead to a resilient quantum system. The company believes that it will take less than 10 years for it to build a quantum supercomputer.

Overstock.com wins auction for Bed Bath & Beyond’s intellectual property, digital assets

Bed Bath & Beyond’s stores will disappear after Overstock.com agreed to buy the retailer’s intellectual property and digital assets for $21.5 million during a bankruptcy-run auction. The deal does not include keeping the chain’s brick-and-mortar presence alive. A separate auction for the Buy Buy Baby chain is slated for next week.

📱Tech Nuts

The next version of Stable Diffusion won't produce spaghetti hands

SDXL 0.9, the next version of Stable Diffusion, produces massively improved image and composition detail over its predecessors. The model is able to produce more convincing hands. Running the model requires a minimum of 16GB of RAM and a GeForce RTX 20 or higher graphics card with 8GB of VRAM. SDXL 0.9 will be available soon on Stability AI's Clipdrop web tool and Dream Studio. The open-source version of SDXL 1.0 will be released in mid-July.

An OpenAI alum is building a robot butler for your home

Prosper Robotics is building a household robot that will be able to load and empty dishwashers, do laundry, clean surfaces and floors, and prepare simple meals. Its robot runs on wheels and has two arms that can be raised up and down. Each robot will come with up to 100 tools for completing various tasks. Prosper Robotics hopes that the robot will be ready for market in the next couple of years. A timelapse video showing the robot cleaning a kitchen and dining area is available in the article.

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🎁Miscellaneous

The bad blood between Musk and Zuckerberg began with a bang

Elon Musk and Mark Zuckerberg have agreed to a cage match. The feud between the tech billionaires started nearly seven years ago when a satellite that Facebook leased was destroyed during launch on a SpaceX Falcon 9 rocket. Facebook had leased bandwidth on the satellite to provide some areas of Africa with internet access to Facebook. Zuckerberg's statement about the incident was not well received by Musk and those at SpaceX.

💡What else are we reading and seeing?

• Read TIME's Interview With OpenAI CEO Sam Altman

• Economics and Math of Token Engineering and DeFi

• Big Firms Want Normal Crypto Markets

• Shares of Startups Are Turning Dirt Cheap, Attracting Venture Funds

• Amazon’s Prime Day to battle falling consumer spending

• Bumble is testing a separate BFF app for finding friends

😎Fun Fact

The iconic Wall Street charging bull sculpture in New York City was originally placed there without permission by artist Arturo Di Modica as a symbol of the strength and resilience of the American people.

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