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, Ocean is back in the news for filtering certain privacy-related transactions. Oil prices fall further, and the ECB is tipped to start cutting rates soon. Early Binance users might be in line for a nasty shock as past transaction data is revealed as part of the exchange's deal with the US authorities. And SKALE validators have passed an important proposal.


Ocean Controversy Grows As Pool "Censors" Whirlpool CoinJoin Transactions

The Jack Dorsey-backed mining pool is already in the spotlight for filtering out Ordinals transactions, which it describes as "spam".

Ocean Controversy Grows As Pool “Censors” Whirlpool CoinJoin Transactions
Ocean’s Bitcoin node software, developed by Luke Dash Jr, filters out certain types of transaction.

Oil Slump Deepens Despite OPEC+ Cuts

Oil prices have dropped to a five-month low, with Brent at $74.30 and WTI at $69.38 a barrel. Market skepticism over OPEC+'s production cuts' efficacy, amidst rising non-cartel supply and declining demand, drives this trend. Geopolitical factors and increased US inventories add to the downward pressure.

Oil Slump Deepens Despite OPEC+ Cuts
Oil prices hit a five-month low as OPEC+ production cuts fail to offset global supply rise and demand concerns.

"Financial Colonoscopy" Incoming For Former Binance Users

As part of the $4 billion deal cut with US authorities, five years of transaction data on the exchange will be pored over and any evidence of illicit activity forwarded to law enforcement.

“Financial Colonoscopy” Incoming For Former Binance Users
Illicit crypto users’ worst nightmare could be about to become reality as Binance gives up years of data.

Markets Anticipate ECB Rate Reductions Amid Economic Downturn

Investors anticipate ECB rate reductions in 2024, reflecting a shift in expectations due to easing inflation and economic downturn fears. The eurozone's prolonged reliance on low rates and recent remarks by ECB executives support the prediction of multiple rate cuts.

Markets Anticipate ECB Rate Reductions Amid Economic Downturn
Markets predict ECB rate cuts in 2024 amid easing inflation and growing economic concerns in Europe.

Soaring Prices Of Grayscale Crypto Funds Signal Market Shift

Grayscale's cryptocurrency funds, including the Filecoin Trust, are experiencing high trading premiums, some over eight times their underlying value. This trend, contrasting the crypto winter, aligns with market dynamics and regulatory landscapes, with Grayscale pushing for ETF conversions.

Soaring Prices Of Grayscale Crypto Funds Signal Market Shift
Grayscale crypto funds trade at significant premiums, with Filecoin Trust exceeding 10 times its asset value.

Landmark SKALE Chain Pricing Vote Passes

SKL token holders and network validators have unanimously passed a key vote that aims to ensure the sustainability of the network and profitability of validators, starting in the new year.

Landmark SKALE Chain Pricing Vote Passes
Chain pricing will begin at $3,600 per chain per month, rising with overall network utilization.

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