On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, we look at how 2023's market conditions have impacted blockchain games, and what the effect of April's Halving might be on miners. China's economy stands at a crossroads, while business is booming for Apple. Vanguard has prompted anger and confusion from the crypto community, TrueUSD has lost its peg, and we look at the possible implications of a Trump presidency for the crypto industry.

Blockchain Gaming Hit By High Rate Of Project Shutdowns In 2023

In 2023, the blockchain gaming industry saw over 30% of its games discontinued, with 407 out of 1,318 games abandoned due to funding and market issues. The industry welcomed 65 new games in Q4, showing a trend towards multichain integration. Optimism persists for 2024, despite the setbacks.

Blockchain Gaming Hit By High Rate Of Project Shutdowns In 2023
Over 30% of blockchain games launched in 2023 were discontinued, reflecting challenges in the crypto gaming sector.

Making Sense Of Vanguard's BTC ETF Position

Vanguard has drawn fire from the crypto community for preventing customers from accessing bitcoin spot ETFs, despite the company itself being a major holder of Microstrategy shares. But, says one analyst, this is actually entirely in character.

Making Sense Of Vanguard’s BTC ETF Position
Vanguard has taken a principled stance against the bitcoin ETFs, but it hasn’t won them any friends in the crypto space.

What Would A Trump Presidency Do For Crypto?

With crypto regulation increasingly becoming a partisan issue, a win for Republicans would likely see some friendlier faces in the SEC, and clearer regulation for crypto businesses.

What Would A Trump Presidency Do For Crypto?
Crypto regulation is becoming an increasingly partisan issue, with pro-crypto Republicans holding the SEC to account.

TrueUSD Faces Instability As Holders Offload $330 Million In TUSD

TrueUSD, a stablecoin tied to Justin Sun, deviated from its $1 peg, dropping to $0.984. Over $330 million in TUSD was sold on Binance, with challenges in real-time reserve attestations and restricted withdrawals on Poloniex contributing to the instability.

TrueUSD Faces Instability As Holders Offload $330 Million In TUSD
TrueUSD stablecoin depegs, falling to $0.984 amid a massive sell-off and reserve attestation issues.

China's Economy: At A Crossroads In 2024

China enters a decisive 2024 with its economy under pressure from deflation and cautious consumer spending. Despite exceeding a 5.2% GDP growth in 2023, forecasts suggest a slowdown to 4.6%. Key issues include a struggling property sector, weak exports, and policy uncertainties, with the government aiming to stimulate growth and consumer confidence.

China’s Economy: At A Crossroads In 2024
China faces a critical economic year in 2024, grappling with deflation and consumer caution amid growth challenges.

Hashrate And Halvings: What's In Store?

Bitcoin's Halvings typically witness a short-term decline in hashrate, as unprofitable miners are forced offline. This Halving might bring the demise of at least one major mining company. However, the network as a whole has proven to be robust in the past, recovering quickly.

Hashrate And Halvings: What’s In Store?
Bitcoin’s network typically adapts rapidly to the cut in mining revenues.

Apple Surpasses Samsung In Global Smartphone Market

Apple surpassed Samsung in 2023 to become the world's top smartphone maker by volume, ending Samsung's 12-year reign. Despite a challenging market, Apple's shipments grew by 3.7% to 234.6 million units, while Samsung's fell by 13.6%. The shift reflects consumer preference for premium handsets, with Apple benefiting from its high-end market strategy.

Apple Surpasses Samsung In Global Smartphone Market
In 2023, Apple overtakes Samsung as the world’s largest smartphone maker by volume, marking a significant shift.

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