Disruptiv Newsletter: Byju's 🎓 Figure AI 🤖 Crypto 💰 and more

Welcome to the Disruptiv newsletter! You're about to get this week's top tech and innovation insight that we saw this week. Enjoy! [disruptivflow-header] Hello FlowBankers Welcome to the Disruptiv newsletter! A weekly aggregate of relevant tech-focused quick takes. Saturday 27th January, 2024 [Start trading](113/cXx8Z04/VWsJxk3QpD7vW6Pb76C3BgdT7W6cqVBw5b8KGMN880g3H2-ZVTW6N1vHY6lZ3nTV5mYXw5s8ww8W1p9g2b1ksKJ3N9558zthHXznV7rpFZ4Y5pRHN4l0JXFCBfDwW7mDzPs2r75G4VL957W4tLWZyN11Tq7s39sr5W1wWRzm2vnQCMVmCYZB1t4xbCW18CwKh4g80_0W5cKD838P5X2lW7lWB623CBSq3W2B1pwZ3jM8PmW4HDSWx5wkJQSW33JJxl8CS1hsW2xjY8g25hb3JVxZwS33sF_89W3zlkZn9l7YTJW5gDJ_D4_fSvTW2pvdJs4tYcKWW3mGB3p8ppWsVf4llFj804) FlowBank tech articles 📚 Bitcoin ETFs: The New Opportunity [shutterstock_2327473803](113/cXx8Z04/VWsJxk3QpD7vW6Pb76C3BgdT7W6cqVBw5b8KGMN880g342-ZVTW5BW0B06lZ3mzW4WYjSS9l_7C8W5C8PtV3S6hnvVzXcPv4DjKvCW9d571-3D8lj5N7QPDwPsN-ZtW2bl_r84cxRRlVwcLWV16YzPrW5jdX-g6JjKv2W4RRVpt2kg9p_W7BFDrv3WWnslW97zHzg27s2tFW2dMb_y2tg8wdW71-PKm4x3y87W8Jh8GQ43shrhM1mckPDV-PzW5GG81q69GcsfW543kjB3k3C4qW2Fgdqs2YK5j1d1gSK804) Finally, a cash Bitcoin ETF has been approved by the SEC but what does it mean for the adoption and price of cryptocurrencies? [Read me](113/cXx8Z04/VWsJxk3QpD7vW6Pb76C3BgdT7W6cqVBw5b8KGMN880g342-ZVTW5BW0B06lZ3kCW1ZK3_l7bP_WtW1MW6Rl9g_2zSW4jkQ_T17hQXQW8KZ6K16sPHM-VxhBtP6gCTlQW6qJpFn27DDYHW6w_m9W1tQrsNVbQSnw3dx3lqW9l5dGy59mp1YW1lXyWB4pCFsHW3VtXQJ7y2m0pW8PWFT83WFdpKW21Rmp31SSdcdW1DFVNf7-DGQSN1TQvX6nkd6lV1-bvl1T-vKsW3q-CLG3bcWPfW1TS0bD6YfFfmf8XFLcY04) Big Technology 🍎 - Byju's, India's edtech titan, faced a staggering valuation drop from $22 billion to $1 billion, marred by alleged accounting issues, mismanagement, and a post-pandemic slowdown in online learning. The company's aggressive expansion through acquisitions couldn't stave off the crisis, leading to layoffs, severed ties with auditor Deloitte, and leadership upheavals as shareholders voted to oust founder Byju Raveendran. Amidst financial strain, Byju's U.S. unit filed for bankruptcy, casting shadows over its future and governance practices. - Microsoft unveils Copilot AI for finance professionals in Excel and Outlook, aiming to boost efficiency with tasks like data reconciliation and variance analysis. Initially tested by Microsoft's finance team for time-saving benefits, the tool integrates with SAP and Dynamics 365, promising future enhancements. Copilot for Finance joins Microsoft's suite of AI-enhanced tools, including offerings for sales and customer service, as part of its broader strategy to empower department-specific workflows. - Figure AI, a startup focused on developing general-purpose humanoid robots, has secured $675 million in funding at a $2.6 billion valuation from high-profile investors including Jeff Bezos, Nvidia, and Microsoft. Founded in 2022, the company's robot, Figure 01, aims to tackle jobs in sectors facing labor shortages, such as manufacturing and logistics, avoiding military applications. The funding will boost AI development for the robot to perform autonomous tasks. Figure AI collaborates with OpenAI and will utilize Microsoft Azure for AI infrastructure, positioning itself in a burgeoning market alongside competitors like Agility Robotics and Tesla's Optimus. VC + Startups 🎯 - ENVIRIA, Germany’s leading commercial and industrial (C&I) decentralized energy solutions provider, announced it has entered into a definitive agreement on an equity investment of over €185 million from BlackRock. The additional capital will support the expansion of the already existing 500 C&I solar projects across Germany as part of the company’s growth plan. - - Filigran, a European cybertech startup, announced a €15 million Series A fundraising led by global venture capital firm Accel, just six months after its initial €5 million seed round. Existing investors Moonfire Ventures and Motier Ventures also participated in the round. - Sonichem, a UK-based startup that converts low-value forestry by-products into high-value, renewable biochemicals, has secured €1.4 million in Pre-Series A funding including a follow-on investment by ACF Investors. The investment will be used to further develop its technology and finalise plans for a biorefinery plant — the first of its kind. Crypto 👾 - Bitcoin and ether experienced their best monthly performance since 2020 and 2022, respectively, with Bitcoin closing February at $62,216.43, marking a nearly 45% increase, and ether advancing over 47%. This surge was bolstered by record inflows into bitcoin ETFs and anticipation of the upcoming bitcoin halving event, expected to further tighten supply. The strong February showing continues a historical trend for both cryptocurrencies, with Bitcoin and ether typically posting significant gains during this month. - The long-awaited debut of gaming token and cross-chain platform Portal has finally arrived. The token, minted on Ethereum, is currently priced at $2.54 per token with a market cap of about $425 million. Despite a 24% dip in less than 10 hours, nearly $500 million worth of Portal has already been traded. Law and regulation 🕵️ - According to the governor of Nigeria's central bank, $26 billion in untraceable funds flowed through Binance Nigeria last year, raising concerns about illicit financial activities. Nigeria, facing a foreign exchange crisis, has been exploring ways to limit outflows and has recently made headlines for blocking user access to certain crypto exchanges, including Binance. The country's securities watchdog previously declared Binance and Binance Nigeria Limited as illegal entities, prompting further investigation by the central bank and other government agencies. - Terraform Labs co-founder Kwon Do-hyeong may miss the start of the SEC trial due to delays in his extradition. Kwon's defense attorney stated that he does not seek to postpone the trial date and wants to attend in person. Delays in Montenegrin legal proceedings have been caused by mistakes from the local lower court. Disruptiv Figure 📊 E-commerce Giants: Amazon Leads the Charge Amazon dominates the global e-commerce market, with revenues and market capitalization far outpacing competitors like Pinduoduo and JD.com. Alibaba Group is a distant second in net income, while other major players struggle to match Amazon's profitability. Despite challenges in 2022, leading e-commerce companies rebounded strongly in 2023, with Amazon turning a significant profit. Source: Statista [Screenshot 2024-03-01 074307] [INSTAGRAM](113/cXx8Z04/VWsJxk3QpD7vW6Pb76C3BgdT7W6cqVBw5b8KGMN880g342-ZVTW5BW0B06lZ3nDW854bgR9bTCZYW87rp0v4HKcCzW2WVrCC7rvKdkW4TPnQQ156bnMW63qRNq7_FFmyW1m2DZ359plfCW2v-Zpr1bpNDZW8yc9p-8fwmQFW46QWXb2YJtJkW3vqXcn7l5QZjW4qK47S5tBLmkW4yc6-Q5H5vrDVS-P2D2KbxCkW85QqgF58Mkk_W7GBCsk2D2p2sW6tVk6Y22wtczW6Z69q67y7ZqXW8qGWTZ37pCp_dLfk3l04)Highlights Click [here](113/cXx8Z04/VWsJxk3QpD7vW6Pb76C3BgdT7W6cqVBw5b8KGMN880g342-ZVTW5BW0B06lZ3kBW5-qFbP4WPjZ5W5xvQBW6VdZrVN8rpxCh42D-yW2dJmZT5qyyfhN2FXq_cMd4LPN3M1F0jkHpxMW4N7bqk1jHX3ZW4H7Gzj1zYbVcVDTv2y7dNzFGN25b36gwSYnVW5zT04q6wr-MVW7HHBXK6xQ2flW1zf8qf3-RtnFW1JbTxM7ChhStVvkbWb5smtLbMB2LXZjdncgVX7Mvh6ZBfh9W5jQwvX38FNpHf1qF1N604)to see our page. [ambass] Don't forget to... 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