Aurelia Butler

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    in Cryptocurrency

    Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

    Bybit, the world’s second-largest cryptocurrency exchange by trading volume, celebrates its 6th anniversary by championing a GameFi revival, heralded in its latest industry report. To mark the occasion, Bybit Web3 is also launching an exclusive Crypto Ark-ade to showcase emerging GameFi protocols and games, where players can explore a curated collection of blockchain-based titles across Base, Solana, opBNB, TON, and Xterio. With 360,000 USDT in prizes, the event underscores Bybit Web3’s commitment to advancing GameFi and highlights the sector’s growth this year.Bybit Learn GameFi Industry Report calls a 2024 revival with 3,500 Web3 gamesA recent Bybit report offers a comprehensive overview of the burgeoning industry at the intersection of gaming and on-chain finance. Titled GameFi: Reviving the New Era of Gaming, the report delves into a sector valued at approximately $20.3 billion—still a fraction of the $196 billion traditional video gaming market in 2023, filled with untapped potential. Since Aug. 2024, the GameFi sector has recorded a rebound at 35%. It also outperformed major cryptocurrencies BTC and ETH at the time of the report’s release, growing over 160% compared to 119% for BTC and ETH combined. With around 3,500 Web3 games, the landscape is dominated by leading blockchains such as BNB Chain, Ethereum, and Polygon. Meeting the GameFi Superstars at Bybit Web3 Crypto Ark-adeThe best players in Bybit Web3’s Crypto Ark-ade will divide up two grand prize pools: Solo Mission and Squad Mission, with the former boasting 260,000 USDT worth of multi-coin drops, points, and in-game assets, and the latter 10,000 USDT in airdrops.The immersive journey features enticing aesthetics and a smooth Web3 experience and offers a gameplay experience to all kinds of players. The Ark-ade promises to transport users to the Web3 universe in a fun ride with the best-known names among GameFi dApps, connecting leading chains in the ecosystem.This GameFi season at Bybit Web3 features a diversity of Web3 games ranging from rearing, and strategy to animal crossing types. The lineup includes the popular Catizen on TON, Sonic, the first atomic SVM chain on Solana, Xterio Games from the AI gaming camp, ElfinGames, nifty_island, scifi shooter game LowLifeforms, SuperChampsHQ and play-to-earn Legend of Arcadia.#Bybit / #TheCryptoArk / #BybitWeb3About Bybit Web3Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting. Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.Join the revolution now and open the door to your Web3 future with Bybit.For more details about Bybit Web3, please visit Bybit Web3.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

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    in Economy

    How vulnerable is the UK to Trumponomics?

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    in Economy

    How markets might be wrong about Trump

    Standard DigitalStandard & FT Weekend Printwasnow HK$209 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    in Economy

    Why the EU’s biometric border won’t come before spring 2025

    $1 for 4 weeksThen $75 per month. Complete digital access to quality FT journalism. Cancel anytime during your trial.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    in Cryptocurrency

    Bitcoin price today: upbeat near $90k as Trump boost persists; Doge rises

    Among meme tokens, Dogecoin extended gains and remained in sight of three-year peaks hit earlier this week. Social media buzz around Doge also rose after Trump announced the formation of the Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy. Bitcoin rose 3.8% to $89,885.4 by 00:30 ET (05:30 GMT). The token hit a record high of $93,226.6 on Wednesday, but swiftly fell from the level. Broader crypto prices also rose, and were undeterred by a rally in the dollar to one-year highs, after U.S. consumer inflation showed signs of stickiness in October. The world’s largest cryptocurrency remained underpinned by optimism over Trump’s victory in the 2024 presidential race, given that he had vowed to roll out crypto-friendly regulations.Trump had promised to make America the crypto capital of the world, and had also floated the idea of a national Bitcoin reserve.This notion saw traders pile into Bitcoin, on bets that the token would gain more credibility as an investment vehicle. But focus was now on exactly what Trump’s policies would entail for crypto, as he went about picking members of his cabinet. Trump is set to take office in early-2025.A risk-on rally in broader financial markets also appeared to have cooled, amid some uncertainty over the outlook for interest rates. Trump is expected to dole out expansionary policies, which are expected to underpin inflation and interest rates in the long term.Meme token Dogecoin rose on 9.1% to $0.394493 on Thursday, extending recent gains and remaining close to its strongest level since May 2021. Traders speculated whether Trump’s DOGE agency was a reference to the meme token, and whether it would entail any official recognition of Dogecoin.But analysts argued that DOGE- which Trump claimed was formed to streamline government operations and cut spending- would have little actual authority to make major changes. GLJ Research said the entity was “a toothless committee formed to make a few billionaires feel important.” Most major altcoins tracked gains in Bitcoin, although they traded below peaks hit earlier in the week.World no.2 crypto Ether rose 2.5% to $3,216.79, while SOL, XRP, XRP and MATIC rose between 2% and 9%. Crypto markets were little deterred by data showing U.S. consumer inflation remained sticky in October, as the reading sparked uncertainty over the long-term outlook for rates.Focus later on Thursday is an address by Federal Reserve Chair Jerome Powell. More

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    in Economy

    Germany tells its ports to reject Russian gas cargoes

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    in Economy

    A crumbling system of trade rules awaits Trump’s wrecking ball

    Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldWhen Joe Biden departs the White House and Donald Trump re-enters, America’s trading partners fear the US will distort commerce with high import tariffs, treat World Trade Organization rules with open contempt and use threats of trade restrictions to force them to follow the US lead.“No change there” would be an exaggeration, but not a grotesque one.The standard view is that recent years have seen the decay of a US-led postwar order in which world trade was governed by a rules-based legal and political framework. The decline, the story goes, rapidly accelerated under the first Trump administration and only slightly recovered under Joe Biden.In reality, that’s too positive about the state of grace before the Trumpian fall. You can make a pretty good case that, adapting Mahatma Gandhi’s observation about western civilisation, the thing about a multilateralist trading order anchored by Washington is that it would have been a very good idea.Before the creation of the WTO itself in 1995, the rules were embedded in a treaty, the General Agreement on Tariffs and Trade, essentially run by a small cold war club of allied rich countries. Dispute settlement wasn’t binding. The US was dominant. It was a club of equals in the way Nato is. The US started losing patience with true multilateralism as soon as it was tried, disapproving of the Appellate Body (AB) of the WTO dispute settlement system for its expansive interpretations of the rules. The US was also often reluctant to comply with rulings, a scofflaw as well as a sheriff. It spent a decade ducking a landmark ruling in Brazil’s favour against US cotton subsidies before simply paying off the Brazilians rather than reforming its trade-distorting payouts.The US moved away from multilateralism under George W Bush towards creating a preferential system, launching the Trans-Pacific Partnership in the Asia-Pacific region, a project later pursued by Barack Obama’s administration. But even before Trump withdrew the US from TPP, Congress had blocked it and Hillary Clinton disowned it in her 2016 presidential election campaign. Now the fun really starts. Enter the Trump administration with WTO-sceptic Robert Lighthizer, whose own nomination to join the AB had been rejected, as trade representative. The Trump administration hobbled the WTO dispute settlement by refusing to reappoint judges to the AB.When Biden was elected, his administration talked a good multilateralist game but other member governments increasingly regarded it as being in bad faith. True, it did participate in WTO talks on various subjects, but they created nothing of substance.Yet the Biden White House continued to stymie the AB, forcing other governments to use an ersatz workaround version, and treated WTO rules with broad indifference. The rationale changed but the effect was similar. Trump ignored WTO rules for purely protectionist reasons, Biden because they stood in the way of the subsidies and tariffs of his expansive green industrial interventions.In his second term, Trump might well simply continue to treat the WTO with malign neglect rather than actively trying to destroy it. There’s an early test with the coming reappointment of WTO director-general Ngozi Okonjo-Iweala, whose selection Lighthizer initially blocked the first time round. In reality the main danger from Trump will come from his threatened unilateral tariffs, not just the direct distortions to world trade but what other governments will do to avoid them. The evasive manoeuvres during Trump’s first term were already legally dicey: quotas on steel imports from Japan, a proposed bilateral deal on industrial goods violating the EU’s own rules.If Trump decides other countries have to join the US in whacking big unilateral tariffs on China or face reprisals, the collateral damage could be much more serious. It’s not just the US ignoring international law but dragging trading partners along with it. Again, this would not entirely be a novelty. The Biden administration attempted (though failed) to bully the EU into putting almost certainly WTO-illegal steel tariffs on imports from China. It also successfully leaned on Canada to impose 100 per cent tariffs on electric vehicles from China and consider a ban on Chinese software in connected cars. But under Trump II the pressure is likely to be an order of magnitude greater, and governments will have to decide how far they will follow rules-based principles at the cost of Trump’s wrath.There are a few positive things they can do to bolster the system. The EU and Mercosur, the South American trading bloc, for example, could finalise a long-awaited trade deal in the coming weeks. That would be a useful signal that the rules-based flame continues to flicker in the Trumpian darkness. Otherwise, as ever, they will be relying on their companies to keep production networks going despite official impediments.The reality is that the multilateral system has been sufficiently weakened by US disapproval over the decades that it’s not promising much resistance even before Trump starts his work. Mutterings of disquiet from Washington right from the creation of the WTO have gradually become deep rumbles of discontent that have shaken the institution’s foundations. Even if Trump does not dispatch a wrecking ball, the edifice of multilateralism has progressively crumbled away.alan.beattie@ft.com More

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    in Economy

    Europe’s growth prospects hit by fiscal restraint

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