Playmakers Brew: Inter Milan’s accidental owner – What’s driving the price of copper – SEC approves spot ether ETF

Inter Milan’s accidental owner – What’s driving the price of copper – SEC approves spot ether ETF | Business briefing beyond sports by Irg Torben Bührer

Table of Contents

Subscribe here to Playmakers Brew

SPORTSMONEY

Thomas Zilliacus wants to buy Inter Milan from club’s new owner Oaktree

Inter Milan’s accidental owner and the club’s future

Finnish entrepreneur Thomas Zilliacus wants to buy Inter Milan from the Italian soccer giant’s new owners Oaktree Capital Management — less than a week after the American company took ownership as a result of a defaulted debt.

Thomas, known for his previous attempt to purchase Manchester United, is now focusing his efforts on Inter Milan. His vision? An ownership structure similar to “some of the biggest clubs in the world,” citing the fan-based ownership structures at European giants Real Madrid and Bayern Munich.

Thomas wants to harness his fan-services company Champions Circle in the bid. “I am now looking at the possibility of channeling part of these revenues into a fund that would be involved in a possible bid for the club,” he said. “It would be a combined bid by my investment company, XXI Century Capital, and Champions Circle. Fans would become a shareholder in the fund that becomes a co-owner in the club,” Thomas added.

Your legacy. Your choice.

Get in touch to find mentors and business opportunities, add the missing link to build your legacy as an entrepreneur or investor beyond sports and check out our Playmakers Squad community on Common Ground (THE Web3 alternative to Discord, Teams, Slack, … for people serious about blockchain).

👉 In any case, feel free to drop me a line via [email protected].

I look forward to reading from you or welcoming you as a Playmaker!

COMMODITIES

What’s driving the price of copper and other metals higher

Main facts about the copper market as prices hit record highs

Copper prices fall in their worst single-day performance over the year to date, as the market decides to cash in on the commodity’s recent rally. On Monday, the metal had hit an all-time record of around $11,100 a ton, but as latest research shows, there was no clear trigger for the rise. Furthermore, the latest figures from the International Copper Study Group for February show the market is still oversupplied, and analysts remain cautious about any potential upside potential for copper.

I recently discussed investing in copper in this article. Below, again, the main facts about the copper market:

  • Industrial Uses: Copper is crucial for power and construction industries and is set to benefit from the green energy transition. It plays a vital role in electric vehicles (EVs) and AI data centers.

  • Production Chain: Copper production starts from mining copper-bearing ores, followed by smelting and refining processes. In 2023, global copper mine production totaled 22.4 million tons, with Chile, Peru, and the Democratic Republic of Congo leading the way. Refined copper production, including scrap, reached 26.5 million tons, with China as the largest producer.

  • Trade Dynamics: Major exporters include Chile, Peru, and Indonesia, while China, Japan, and South Korea are key importers. The refined copper trade sees Chile, DRC, and Russia as major exporters, with China, the U.S., and Italy as significant importers.

  • Supply-Demand Balance: The market was balanced in 2023, but a surplus of 162,000 metric tons is expected this year and 94,000 tons in 2025, according to the ICSG, as refined production is forecast to rise by 2.8% in 2024 and 2.2% in 2025. Despite tight supply, weak demand in China is evident with high inventory levels.

In response to supply chain vulnerabilities, the U.S. and China are fiercely competing to secure copper sources. This geopolitical battle underscores copper's significance in achieving sustainable energy goals and maintaining technological supremacy. The Biden administration's involvement in securing stakes in major mines globally, including Zambia's First Quantum Minerals, emphasizes the strategic importance of copper.

Top Tickers

Some of the most active and relevant securities and quotes (compared to previous day's closing price)

Ticker

Name

Bitcoin

Gold Spot

Copper 3m

Euro

Tesla

Microsoft

Nvidia

Apple

Meta

Alphabet

Quote

⬆️ 69,084.12

⬆️ 2,333.76

⬇️ 10,324.00

⬆️ 1.0856

⬇️ 178.85

⬆️ 430.30

⬆️ 1,069.00

⬇️ 189.95

⬇️ 477,50

⬆️ 174.99

CRYPTO

SEC approves exchange applications to list spot ether ETFs

New funds will allow mainstream investors to buy and sell the cryptocurrency as easily as stocks or mutual funds

The Securities and Exchange Commission approved the first U.S. exchange-traded funds holding ether the second-largest cryptocurrency after bitcoin. This decision allows mainstream investors to buy and sell ether as easily as stocks or mutual funds, marking a significant shift in the accessibility of crypto assets.

Ether ETFs will be available for trading on major exchanges, pending final approvals. At least 10 asset managers, including BlackRock and Fidelity Investments, applied to launch the first batch of ether ETFs. This move comes after the SEC's landmark decision to approve bitcoin ETFs earlier this year, which saw a massive influx of over $30 billion in investor assets. However, it remains to be seen if ether ETFs will attract similar enthusiasm.

The decision caught the crypto industry by surprise because it suggests that SEC Chair Gary Gensler has given up his fight to classify ether as a security, securities lawyers say. The SEC chair had long suggested that tokens outside of bitcoin were securities, instead of commodities. The distinction determines which agency oversees the asset and the regulations to which it is subject.

Then, Kabosu, a rescue dog and unlikely internet sensation, died at 18 in Japan. What began as a cute snapshot shared by her owner, a kindergarten teacher in Tokyo, transformed Kabosu into an internet sensation and the mascot for a cryptocurrency that reached a peak market value of nearly $90 billion.

Billy Markus, a developer who wanted to craft a parody cryptocurrency to poke fun at the rise of nascent tokens, co-created dogecoin, centered on the internet meme of Kabosu. (The meme pretended the dog had bad spelling habits, thus “doge” instead of “dog.”) Programmers transposed Kabosu’s likeness onto a gold coin as the emblem for dogecoin in 2013. They picked silly slogans such as “wow much coin.”

Despite her fame, Kabosu remained a humble and playful pet, often seen napping with her feline friends or causing minor household chaos. Her iconic wide-eyed expression became synonymous with the speculative nature of the volatile cryptocurrency, captivating businessmen, celebrities, and crypto enthusiasts alike.

Elon Musk tweeted the doge meme often in 2021. Dogecoin, previously worth a few thousandths of a penny, surged to 8 cents as people became day traders. Today, Dogecoin is worth a fraction of its peak value in May 2021.

Have a great weekend!

Irg

Your legacy. Your choice.

Get in touch to find mentors and business opportunities, add the missing link to build your legacy as an entrepreneur or investor beyond sports and check out our Playmakers Squad community on Common Ground (THE Web3 alternative to Discord, Teams, Slack, … for people serious about blockchain).

👉 In any case, feel free to drop me a line via [email protected].

I look forward to reading from you or welcoming you as a Playmaker!

Subscribe here to Playmakers Brew