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Jul 4, 2023 • 4 min read

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China's Rare Earth Export Controls:

China has decided to implement export controls on two rare earth metals, gallium, and germanium, beginning August 1, citing "national security" reasons. Exporting these metals will require a license.
Gallium and germanium are critical to several industries, especially in the technology and defense sectors. Gallium is primarily used in semiconductors, transistors, and LEDs, including military-grade Gallium Nitride, which is essential in advanced US defense technology. Germanium is typically used in rectifiers, transistors, and weapons-sighting systems.
China controls the global refining and processing of these rare earth metals, and they are crucial for manufacturing high-tech chips used in various applications. This move follows the Biden administration's recent clampdown on chips and signifies a new phase in tech and trade-related tensions between China and the US.

BlackRock's SSA with Coinbase:

BlackRock, the world's largest asset manager, has partnered with Nasdaq to include a Coinbase surveillance sharing agreement (SSA) in a refiling for a spot Bitcoin ETF (exchange-traded fund) under the iShares Bitcoin Trust.
This inclusion aims to address the U.S. Securities and Exchange Commission's (SEC) concerns about potential market manipulation. The spot Bitcoin ETF frenzy has gained momentum in recent weeks, with BlackRock leading the charge when it first filed for such an ETF. Other asset management firms like Fidelity have followed suit.
With this new filing, BlackRock intends for the Coinbase SSA to ensure that the exchange is combating potential market manipulation as it seeks regulatory approval. However, the SEC has yet to approve a spot Bitcoin ETF, indicating that asset management firms like BlackRock and Fidelity may still face regulatory challenges.

Flying Cars?

Alef Aeronautics, a mobility firm backed by SpaceX, has received a Special Airworthiness Certification from the U.S. Federal Aviation Administration (FAA) for its "Model A" flying car. This is the first time a vehicle of this kind has been granted legal approval to fly by the federal government.
The "Model A" is a 100% electric flying car, capable of driving on streets and performing vertical takeoffs when necessary. The FAA's certification allows it to be used for limited purposes, such as exhibition, research, and development.
FAA officials are developing regulations for electrical vertical takeoff and landing (eVTOL) vehicles and related ground infrastructure. They proposed a new rule last month that would require eVTOL operators to undergo training and become certified pilots.
The FAA anticipates demand for pilot training as eVTOLs become more affordable and widespread. Deliveries for preordered Model A vehicles are expected to start in 2025.

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