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, risk assets soar as the Fed indicates interest rate cuts in 2024. Meanwhile, Argentina has just smashed the value of its currency and Germany is addressing its own budget shortfall. Hedge funds are challenging the SEC over its short-selling rules, Tether has been given the thumbs down by a major ratings agency, and the blockchain gaming market could be set for huge growth over the coming years.


Blockchain Gaming Market Set For $600 Billion Surge By 2030

Projected to reach $600B by 2030, the North American blockchain gaming market is experiencing a 21.8% CAGR. RPGs are driving growth, while web-based games dominate. Despite the robust market, over 75% of blockchain games launched since 2018 have failed.

Blockchain Gaming Market Set For $600 Billion Surge By 2030
Explosive growth is forecast for blockchain gaming, with a focus on RPGs and evolving platforms.

Hedge Funds Challenge SEC Over Short-Selling Regulations

Hedge fund groups are suing the SEC, challenging new rules on short selling that they argue conflict with each other and risk exposing investor positions. The lawsuit addresses two measures aimed at increasing transparency in short selling but criticized for their contradictory approaches and potential market impact.

Hedge Funds Challenge SEC Over Short-Selling Regulations
Hedge fund groups file a lawsuit against the SEC over new short-selling disclosure rules.

The Rothschilds Part 2: Political Influence And Intrigue

The article explores the Rothschilds' significant financial impact during the Napoleonic Wars, their strategic use of information networks, and their lasting influence on European politics, including their role in the Balfour Declaration and shaping British policies.

The Rothschilds Part 2: Political Influence And Intrigue
Examining the Rothschilds’ role in the Napoleonic Wars and their influence on 19th-century European politics.

Germany's Budget Agreement Addresses €17 Billion Deficit Challenge

Germany addresses a €17bn deficit by cutting green energy, construction, and transport funding, while upholding Ukraine support and social security. The budget deal follows a court ruling challenging the allocation of funds under Germany's debt brake, with a focus on fiscal consolidation.

Germany’s Budget Agreement Addresses €17 Billion Deficit Challenge
Germany’s government tackles a €17bn budget shortfall with strategic cuts in green subsidies and transport.

USDT's Stability Questioned By S&P Global Ratings

S&P Global Ratings evaluated the stability of key stablecoins, assigning lower ratings to USDT due to transparency issues. Other coins like GUSD, USDP, and USDC were rated higher for asset quality. The study, part of S&P's ongoing market monitoring, emphasized the importance of issuer asset management and liquidity in determining stablecoin stability.

USDT’s Stability Questioned By S&P Global Ratings
S&P Global Ratings assesses stablecoins; USDT’s transparency issues lead to lower rating.

Fed Hold Sees Bitcoin Soar

As the Fed appears to make the long-awaited pivot, risk assets benefit from increased confidence, with the Dow Jones hitting all-time highs.

Fed Hold Sees Bitcoin Soar
Powell’s dovish stance gave traders confidence that rate rises are in the past, prompting them to pour money into risk assets.

Argentina's Milei Devalues Peso By 50 Percent

The country's controversial new president has taken his chainsaw to public spending in an attempt to wrest Argentina's persistent hyperinflation back under control.

Argentina’s Milei Devalues Peso By 50 Percent
Milei is an advocate of hard money, but Argentina may not be ready for Bitcoin.

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