Top stories today:

1. 11 Bitcoin ETPs approved by SEC, as Gensler calls BTC “non-security”
2. OpenAI launches GPT Store, Team plan
3. Song streams +33.7% YoY to $7.1T in 2023
4. Crypto VC funding -50% to $1.8B in Q4

0. Data and calendar

1. 11 Bitcoin ETPs approved by SEC, as Gensler calls BTC “non-security”

Bitcoin’s price was little changed, as the news appeared to be priced in:

• Trading to start today.

• Motivation of the approval: the U.S. Court of Appeals ruling on the Grayscale case, which said that the SEC “failed to adequately explain its reasoning in disapproving the listing and trading of Grayscale’s proposed ETP [exchange-traded product].”

• Yet, the SEC does not “approve or endorse bitcoin.”

• The FBI is now involved in investigating Tuesday’s false X post about an ETP approval.

ETP providers are promising fees as low as 0%, vs. 1.5% for Grayscale’s Trust

2. OpenAI launches GPT Store, Team plan

The Team version is a self-service pro plan at $25/mo/user, vs. $20 for Plus and $30-60 for Enterprise

• OpenAI is also in talks with CNN, Fox, and Time to license their news content.

4. Song streams +33.7% YoY to $7.1T in 2023

Music listeners are spending $116/mo on live music, little changed vs. 2021

5. Crypto VC funding -50% to $1.8B in Q4

6. Weight loss drugs boost valuation of Lilly, Novo

7. Interesting videos, posts, and memes

8. Other headlines

AI

• Rabbit’s R1 sells out 10K units in 1st day.

• Brave Search adds AI-powered answers for programming queries.

Tech

• ITC argues Apple Watch ban should be reinstated.

• Finn, subscriptions to buy cars, raises €100M at €600 post-money valuation.

• Netflix’s ad-supporter tier reaches 23M global users, from 15M in Nov.

• Netflix Games downloads +180% YoY to 81.2M.

• Google lays off 100s in several divisions.

• Amazon cuts 100s of jobs in Prime Video, MGM Studios.

• TikTok, LVMH plan to curb fake items on TikTok Shop.

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Tech & law

• Amazon won’t offer concessions for EU in bid to buy iRobot.

• SAP to more $230M+ to settle bribery charges: U.S.

Biotech

• Insilico Medicine leverages AI to develop anti-aging drug: profile.

• Teen marijuana use linked to psychosis.

• Ultra-processed diets: a look at, as industry fights back.

Business

• Alaska Air offering $1,500 for passengers aboard flight.

  • Cancels all Boeing 737 Max 9 flights through Jan. 13.

• Ellison family could take over Paramount.

• U.S. CPI for December out today, core CPI cooling expected.

• Abramovich invested $63M in VC via Target Global.

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Crypto

• Ripple initiates $285M share buyback at $11B valuation.

• X removes support for NFT profile pictures.

U.S. politics

• Chris Christie drops out of presidential race.

• No Labels seeks to raise $300M for new super PAC.

• Trump barred from speaking at NY civil trial closing argument.

• Hunter Biden gets contempt resolution from House Judiciary Committee.

World

• White House supports bill seizing $300B in frozen Russian assets.

• U.S., allies weigh retaliating against Houthis.

• Argentina’s inflation expected at 215% in December.

• North Korea to send more advanced missiles to Russia: Seoul.

• Al Jazeera journalists killed were terrorists: IDF.

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