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, CoinGecko charts the evolution of GameFi and the rise of new blockchain platforms. Recent developments suggest that a spot bitcoin ETF is all but a done deal. Google has settled a major antitrust case. And AI continues to make waves, though not all for positive reasons.

2023 GameFi Industry Insights By CoinGecko

Blockchain gaming, led by early hits like CryptoKitties, evolved with trends like Play-to-Earn, despite challenges in gameplay and tokenomics. In 2023, games like Alien Worlds and Farmers World dominate daily active addresses, with farming/mining as the top genre. SKALE Network emerged as the leading blockchain for gaming, while other networks like Ronin and ImmutableX show varied GameFi activity levels.

2023 GameFi Industry Insights By CoinGecko
CoinGecko’s 2023 GameFi report highlights shifts in blockchain gaming, with a focus on active games and blockchain usage.

Cevian Capital's €1.2 Billion Investment In UBS Signals High Expectations

Cevian Capital, an activist investor, has acquired a €1.2 billion stake in Swiss bank UBS, aiming to increase its valuation significantly. This strategic move, following Cevian's involvement with Credit Suisse, supports UBS’s potential in wealth management, contrasting with its current undervaluation compared to peers like Morgan Stanley.

Cevian Capital’s €1.2 Billion Investment In UBS Signals High Expectations
Activist investor Cevian Capital targets UBS for growth, investing €1.2 billion with a vision to double its valuation.

Bitwise Ads and Cash Creations Signal ETF Is Done Deal

The new developments suggest that providers are fully expecting their ETFs to be approved, and are positioning accordingly—even to the extent of starting their marketing campaigns.

Bitwise Ads and Cash Creations Signal ETF Is Done Deal
Bitwise has already started its marketing campaign, even though there has been no official approval from the SEC.

Google Settles Antitrust Case For $700 Million Over Play Store Practices

Google agrees to a $700 million settlement in a US antitrust case over Play Store practices. The deal involves changing billing options and allowing more developer flexibility, following accusations of limiting competition and imposing excessive fees.

Google Settles Antitrust Case For $700 Million Over Play Store Practices
Google has agreed to a $700 million settlement in an antitrust lawsuit led by US states, challenging the company’s competitive practices in its Android app store.

Milei's Presidency: Economic Pragmatism Amidst Argentina's Crisis

Javier Milei, Argentina's president, shifts from radical libertarianism to orthodox economics amidst crisis. His administration prioritizes budget balance with spending cuts and tax rises, devalues the peso by 54%, and engages internationally, especially with the US, to manage the IMF debt and economic challenges.

Milei’s Presidency: Economic Pragmatism Amidst Argentina’s Crisis
Milei steers Argentina with conventional fiscal strategies, contrasting his prior radical stance, amid severe economic turmoil.

World Unprepared For AI Impacts In Biggest Ever Election Year

As voters in the US, UK, and India head to the polls next year, generative AI technologies, combined with bots and the reach of social media, means it is easier to create and disseminate convincing misinformation than ever before.

World Unprepared For AI Impacts In Biggest Ever Election Year
AI has the potential to end democracy as we know it - starting next year.

Scrutiny Over Microsoft's Financial Ties With OpenAI

Regulators are examining Microsoft's multibillion-dollar investment in OpenAI, focusing on the nature of their financial relationship. OpenAI redefined Microsoft's role from "minority owner" to "minority economic interest," reflecting profit-sharing without equity. The deal's structure aligns with OpenAI's AGI development mission and investor return caps.

Scrutiny Over Microsoft’s Financial Ties With OpenAI
Microsoft’s investment in OpenAI scrutinized for equity and profit-sharing details amid regulatory review.

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