Steven Lubka, head of private clients and family offices at Swan Bitcoin, stated that crypto markets moved down sharply, triggering a leverage-driven liquidation. The price of bitcoin dropped 6.2% to $59,504.68, while ether tumbled more than 8% to $2,457.61. According to CoinGlass, $93.52 million in long ether liquidations and $85.93 million in bitcoin liquidations occurred across centralized exchanges.

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The global water and wastewater treatment market is expected to reach half a trillion dollars by the end of this decade. Companies like Xylem, Veolia, and Boston-based startup Gradiant are trying to reduce costs and energy consumption by finding ways to reclaim and recycle water inexpensively. Heavy industry uses up to half of the world's water, making it essential to find new ways to recycle water, especially in the face of increased drought.

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Klarna, a buy now, pay later firm, reported an adjusted operating profit of 673 million Swedish krona ($66.1 million) in the first half of the year, a significant improvement from a loss of 456 million krona in the same period last year. Revenue grew 27% year-on-year to 13.3 billion krona. The company cited adjusted operating income as its primary metric for profitability, which better reflects underlying business activity.

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Hindenburg Research, a short seller, disclosed a short position in Super Micro Computer, citing evidence of accounting manipulation. The company's shares fell about 5% in early trading. Super Micro has close ties with chip giant Nvidia, allowing it to quickly roll out servers with AI chips.

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Sony has announced a 19% price hike for its PlayStation 5 console, increasing the suggested retail price to 79,980 yen ($553) from September 2. The company cited a challenging external environment, including global economic fluctuations, as the reason for the price increase.

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Nvidia CEO Jensen Huang has led the company to a significant market expansion, with its market cap growing nine-fold since 2022. The company briefly became the world's most valuable public company, but lost almost 30% of its value over seven weeks, shedding $800 billion in market cap. Nvidia is now in the midst of a rally, pushing its stock within 7% of its all-time high.

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Russia issued a warning to France over the detainment of Pavel Durov, the CEO and founder of Telegram, suggesting the move may be politically motivated. The Paris Public Prosecutor's Office issued a warrant for Durov's arrest over an investigation into organized crime, drug trafficking, fraud, and the distribution of pornographic images of minors on the platform. The Kremlin spokesman, Dmitry Peskov, urged Paris to provide evidence to support its allegations against Durov.

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Mark Zuckerberg, CEO of Meta, alleged that the Biden Administration pressured Facebook-parent Meta to censor Covid-19 content, including humor and satire, in 2021. Senior officials from the White House repeatedly pressured Meta's teams for months. Zuckerberg regrets some of the decisions taken in relation to the U.S. government's requests.

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Canada's Prime Minister Justin Trudeau announced that the country will impose 100% import tariffs on China-made electric vehicles, effective October 1, and 25% tariffs on China-made steel and aluminum imports, effective October 15. The tariffs are a response to concerns over unfair subsidies. Canada already imposes a 6.1% tariff on EVs manufactured in China and imported into Canada.

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Sustainable Metal Cloud, a data center company, operates 'sustainable AI factories' in Singapore and Australia, using Nvidia processors submerged in synthetic oil to reduce energy consumption by up to 50%. The company's HyperCubes enable high-density hosting for GPUs, suitable for platforms like Nvidia's Grace Blackwell. Tim Rosenfield, co-founder, highlighted the benefits of the platform.

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