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Bitcoin, Nasdaq Reach Records After Global VC Turns In Massive Q3

Morning Report: All signals point up today, something that we should note for posterity.

It’s always surprising how rallies feel unbreakable before they break. Today, the current bull cycle kept firing on all cylinders, raising the asset values of public tech companies and public tech goods.

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Or more simply, tech is up and to the right at the moment and not (yet) showing signs of slowing down.

When the fourth quarter started, we noted that the Nasdaq Composite set a new record. Now we need to wipe that slate clean. Indeed, today the Nasdaq Composite set a new intra-day 52 week high of  6,616.58, according to Google Finance. And, according to CoinMarketCap, bitcoin set a price record earlier this morning of around $5,840 (the price has since come down slightly, but it remains at record levels).

All that after we learned that the global venture market is projected to set a local maximum in the third quarter, putting up the biggest numbers since the Dotcom boom.

Pretty positive stuff to head into the weekend with, aside from the fact that eventually good times end.

From the Crunchbase Daily:

Magic Leap said to seek $1B

  • Magic Leap, the secretive and heavily funded developer of augmented reality glasses, may be raising as much as $1 billion in fresh financing, according to a securities filing. The new round would likely value Plantation, Florida-based Magic Leap at between $6.5 billion and $7 billion, TechCrunch reports.

Startups want to replace your keys

  • Opening doors with metal keys could soon seem quite primitive if investors have their way. So far this year, VCs have poured over $200 million into companies with businesses and technologies tied to keys, locks, and building access, a Crunchbase News analysis finds. Several are focused on tech-enabling the front door with virtual key and smartphone-enabled access systems.

Outcome Health said to mislead ad buyers

  • Healthcare advertising unicorn Outcome Health has placed three employees on leave following a Wall Street Journal report charging that the company misled pharmaceutical clients about the reach and effectiveness of ads. Chicago-based Outcome, founded in 2005, raised a massive $500 million first-time venture funding round in May.

As we bid adieu to the third quarter of 2017, get a quick recap on key trends for global and U.S. startup ecosystems. Crunchbase News has aggregated all of our Q3 coverage here.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

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