Good day valued readers,

We hope this week's carefully curated selection of news finds you well. In this edition, we cover the latest developments across investing, finance, crypto, AI, and other topics to help you stay informed.

As always, our goal is to provide you with a professional, unbiased roundup of noteworthy news to augment your understanding of what's happening in the world. We take pride in hand-selecting articles from trustworthy sources across a diverse range of industries.

Please enjoy this week's newsletter. We're grateful for the opportunity to share these insights with you and look forward to continuing to be a valuable resource.

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Investing and Finance

The financial landscape continues to evolve, with inflation remaining a key concern for many, particularly in terms of its impact on retirement planning. Despite this, some experts argue that we may be too fixated on cash, suggesting a need for diversified investment strategies. The concept of a "degenerate economy" is gaining traction, prompting discussions about new rules and advice for navigating these uncertain times.

Generational wealth dynamics are in the spotlight, with wealth managers expressing concern that millennials, despite being poised to become the wealthiest generation in history, may be ill-prepared to manage this wealth effectively. Meanwhile, Generation X faces its own retirement challenges, with most having saved less than 5% of the $1.5 million they believe they'll need for a comfortable retirement.

On the macroeconomic front, Federal Reserve officials now see balanced risks in their ongoing fight against inflation, potentially signaling a shift in monetary policy approach. In the stock market, notable moves include Cathie Wood's decision to unload shares of Tesla, reflecting changing sentiments in the tech sector. The June jobs report is anticipated to show a continuation of the "cooling but not cool" trend in the US labor market, providing crucial insights into the overall economic health.

Questions persist about whether America is saving enough for retirement, highlighting ongoing concerns about long-term financial security. Lastly, former President Trump's economic policies and statements are already influencing interest rates, underscoring the intricate relationship between politics and financial markets.

1. How Does Inflation Impact Retirement? - Read more

2. We're too obsessed with cash - Read more

3. An Update On The Degenerate Economy and Some Rules and Advice - Read more

4. Millennials are ‘very ill-prepared’ to be the richest generation in history, wealth manager says - Read more

5. Gen X says they’ll need more than $1.5 million to retire comfortably - but most have less than 5% of that saved - Read more

6. Federal Reserve Officials Now See Balanced Risks in Fight Against Inflation - Read more

7. Cathie Wood unloads shares of Tesla - Read more

8. June jobs report: US labor market set to show 'cooling but not cool' trend continues - Read more

9. Is America saving enough for retirement? - Read more

10. Trump is already pushing interest rates up - Read more

Crypto News

The cryptocurrency market is bracing for potential impact as the US and Germany move over $100 million in Bitcoin, signaling significant activity from major players. In regulatory news, crypto-friendly Silvergate Bank has settled charges with the SEC, Fed, and California regulators for $63 million, highlighting ongoing scrutiny in the sector. Coinbase's stock received a boost after the DOJ appointed Coinbase Prime as a custody partner, demonstrating growing institutional acceptance of crypto services.

Stablecoin issuer Circle has received approval to operate in the EU under the bloc's strict rules, marking a significant step for crypto regulation in Europe. Despite recent market volatility, a report suggests that historical patterns indicate Bitcoin may hit a new all-time high this year, offering a glimmer of optimism for investors. Robinhood is reportedly considering offering crypto futures in the US and Europe, potentially expanding trading options for retail investors.

Tether has signed a memorandum of understanding to promote crypto freedom in Turkey, showcasing the growing global influence of cryptocurrencies. Bitcoin's price recently lost its 200-day trendline for the first time in 10 months, a technical indicator that traders will be watching closely. In an interesting development, a Russian regulator is encouraging the use of crypto to counter sanctions, highlighting the complex geopolitical implications of digital currencies.

On the business front, Indian crypto exchange CoinDCX has acquired BitOasis as part of its international expansion plan, while Consensys has acquired Wallet Guard to enhance security for MetaMask users against hacks and scams, both moves indicating ongoing growth and consolidation in the crypto industry.

1. US, Germany Move Over $100 Million in Bitcoin as Market Braces for Impact - Read more

2. Crypto-Friendly Silvergate Bank Pays $63M to Settle Charges With SEC, Fed, California Regulator - Read more

3. Coinbase Stock Jumps After DOJ Appoints Coinbase Prime as Custody Partner - Read more

4. Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules - Read more

5. History suggests bitcoin will likely hit a new all-time high this year, report says - Read more

6. Robinhood Said to Consider Offering Crypto Futures in US, Europe - Read more

7. Tether signs MoU to promote crypto freedom in Turkey - Read more

8. Bitcoin Could Get Ethereum-Style Restaking as Startup Lombard Raises $16M - Read more

9. Bitcoin price loses its 200-day trendline for first time in 10 months - Read more

10. Russian regulator encourages use of crypto to counter sanctions - Read more

11. Indian crypto exchange CoinDCX acquires BitOasis as part of international expansion plan - Read more

12. Consensys acquires Wallet Guard to help protect MetaMask users against hacks and scams - Read more

Artificial Intelligence

The AI landscape continues to evolve rapidly across various sectors. In the financial world, Robinhood has acquired Pluto, an AI investment research platform, potentially revolutionizing how retail investors access and analyze market information. Meanwhile, Quora's chatbot platform Poe is pushing boundaries by allowing users to download paywalled articles on demand, raising questions about content accessibility and copyright.

Social media giant Instagram is venturing into the world of AI-generated content, allowing some creators to make AI versions of themselves, which could transform how influencers interact with their audiences. In the realm of AI development and evaluation, a new initiative for developing third-party model evaluations has been launched, aiming to provide more objective assessments of AI capabilities.

Despite the hype surrounding AI, some are questioning why its benefits aren't more widely distributed, prompting discussions about the technology's true impact on society and the economy. Apple's deal with OpenAI continues to evolve, with rumors of a potential board observer role for the tech giant, signaling deeper involvement in the AI space.

In scientific applications, AI is making strides in astrophysics, helping chart the origins of heavy elements, and in behavioral science, predicting how monkeys play Pac-Man. The technology is also enhancing IT productivity, with experts identifying 10 key ways AI can streamline operations.

For those concerned about AI's data collection practices, a new tool promises to block AI bots, scrapers, and crawlers with a single click, offering a measure of digital privacy. In the ongoing debate about AI's impact on employment, Citadel's Ken Griffin expresses skepticism about AI replacing human jobs in the near future.

OpenAI is taking steps to block China's access to its AI tools, highlighting the geopolitical implications of AI technology. The idea of AI bosses is being explored, with some wondering if they might be preferable to human managers. Lastly, researchers have made progress in using AI to decode emotions through movements, potentially opening new avenues for human-computer interaction and psychological studies.

1. Robinhood Acquires Pluto, AI Investment Research Platform - Read more

2. Quora’s Chatbot Platform Poe Allows Users to Download Paywalled Articles on Demand - Read more

3. Instagram is starting to let some creators make AI versions of themselves - Read more

4. A new initiative for developing third-party model evaluations - Read more

5. If AI’s a rising tide, why isn’t it lifting more boats? - Read more

6. A new twist in Apple's deal with OpenAI - Read more

7. AI for astrophysics: Algorithms help chart the origins of heavy elements - Read more

8. AI can predict how monkeys play Pac-Man - Read more

9. 10 ways AI can make IT more productive - Read more

10. Declare your AIndependence: block AI bots, scrapers and crawlers with a single click - Read more

11. Citadel’s Ken Griffin says he’s not convinced that AI will replace human jobs in the near future - Read more

12. Apple Poised to Get OpenAI Board Observer Role as Part of AI Pact - Read more

13. OpenAI Taking Steps to Block China’s Access to Its AI Tools - Read more

14. Would having an AI boss be better than your current human one? - Read more

15. AI Decodes Emotion Through Movements - Read more

Top Article Picks this week

In an exciting development for space exploration, scientists have identified a plant that could potentially grow on Mars, opening up new possibilities for future colonization efforts. For those seeking to boost their productivity, a new study outlines 10 scientifically proven methods to increase efficiency in daily tasks. On a more somber note, U.S. depression rates have reached new highs, highlighting the ongoing mental health challenges facing the nation.

A researcher who studies highly successful individuals has shared 11 small but impactful habits these people practice daily, offering insights into the routines that contribute to their achievements. The traditional three-meal-a-day eating pattern is being questioned by nutritionists and health experts, prompting a reevaluation of our dietary habits. Public health concerns have arisen as high bacteria levels cause beach closures across the United States, reminding us of the importance of environmental monitoring.

For the budget-conscious, a comprehensive list of 100 frugal habits provides practical tips for those trying to save money in today's economic climate. In the world of finance, despite the success of Bitcoin ETFs, many financial advisors remain reluctant to discuss cryptocurrency investments with their clients, reflecting the ongoing uncertainty in this sector. Lastly, a fascinating article titled "Viruses Are Us" explores the intricate relationship between viruses and human biology, challenging our understanding of these microscopic entities.

1. Scientists Identify Plant That Could Grow on Mars (Reading time: 2 min) - Read here

2. 10 Scientifically Proven Ways to Be Incredibly Productive (Reading time: 15 min) - Read here

3. Hush-Hush Affair (Reading time: 36 min) - Read here

4. U.S. Depression Rates Reach New Highs (Reading time: 5 min) - Read here

5. I study highly successful people for a living. Here are 11 little habits they practice every day (Reading time: 5 min) - Read here

6. Should We Be Eating Three Meals a Day? (Reading time: 8 min) - Read here

7. What to Know as High Bacteria Levels Cause Beach Closures Across the United States (Reading time: 4 min) - Read here

8. 100 Frugal Habits to Live By, If You’re Trying to Save Money (Reading time: 5 min) - Read here

9. Why Advisors Remain Reluctant To Talk Crypto Despite Bitcoin ETF Success (Reading time: 2 min) - Read here

10. Viruses Are Us (Reading time: 16 min) - Read here

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Book of the week

"What Got You Here Won't Get You There" is a compelling guide for executives seeking to reach the pinnacle of their careers. Marshall Goldsmith, a renowned executive coach, identifies subtle behavioral flaws that can hinder even the most successful professionals. The book's central premise is that the skills and behaviors that led to initial success may actually impede further advancement. Goldsmith presents a list of 20 common habits that can derail careers, such as failing to listen or constantly trying to add value to every discussion.

He argues that these seemingly minor transactional flaws can significantly impact how others perceive us, potentially limiting our professional growth. The author provides practical, actionable advice on how to identify and correct these behaviors, emphasizing the importance of self-awareness and feedback from colleagues. Goldsmith's approach is refreshingly straightforward and jargon-free, making the book accessible to a wide range of readers. He emphasizes that behavioral change is achievable and can lead to dramatic improvements in both professional and personal relationships.

The book is peppered with real-world examples and anecdotes from Goldsmith's coaching experiences, which help illustrate his points effectively. While primarily aimed at high-level executives, the principles discussed are applicable to professionals at various stages of their careers. Goldsmith's insights on the power of small behavioral changes and the importance of perception management are particularly valuable. The book also touches on the significance of expressing gratitude and actively listening, skills often overlooked in the pursuit of success.

Overall, "What Got You Here Won't Get You There" offers a unique perspective on professional development, focusing on refining interpersonal skills rather than technical abilities. It serves as a wake-up call for successful individuals who may be unknowingly sabotaging their own advancement and provides a roadmap for overcoming these self-imposed limitations.

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