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What on earth is Bitcoin halving?!
Girl Economics | 25th March 2024
Girl Economics Admin
March 25, 2024
In this edition…
We have a special feature on the upcoming Bitcoin Halving - what is it, when is it happening, and what does it mean for cryptocurrency?
This edition of Girl Economics marks one week of the newsletter’s establishment! It is wonderful to see how quickly it is growing and how many people are enjoying the content. As ever, be sure to join us on LinkedIn (and don’t tell anyone… but there’s a TikTok account coming soon!)
Articles of the Day
The World Bank is going to begin publishing more of its proprietary data in the hope that it will raise investor confidence in investments in the developing world - why might this work? This article explains why! TOPICS: World Bank, global development, investment | Talks of creating a global emissions tax have been simmering for a while (in fact, I was asked about this in my Cambridge interview!) and the latest meetings of the International Maritime Organisation make it likely that a tax will be implemented as soon as next year. TOPICS: emissions tax, UN |
In The News
Get out of Tech while you can?
Top tech executives including Peter Thiel, Jeff Bezos, and Mark Zuckerberg have been selling significant amounts of their company shares this quarter, indicating a potential downturn in the growth of tech stocks. The ratio of insider selling to buying is at its highest level since early 2021, suggesting caution among corporate insiders. Analysts interpret these insider sales as a negative indicator for investors, highlighting a desire for liquidity and possibly reflecting doubts about future market performance. Notable sales include Thiel's $175 million sale from Palantir, Bezos's $8.5 billion sale from Amazon, and Zuckerberg's increased selling from Meta. The trend raises concerns about the outlook for these tech companies and the broader market.
No room for ESG
Republican-led states have withdrawn approximately $13.3 billion from BlackRock, the world's largest asset manager with over $10 trillion under management, in response to the firm's emphasis on climate-related financial risks. The largest withdrawal came from the Texas Permanent School Fund, totaling $8.5 billion. In response to conservative attacks, BlackRock has taken steps to address concerns, such as hiring a senior lobbyist with Republican ties and scaling back involvement in initiatives addressing climate change. However, BlackRock has strongly opposed the decision by the Texas fund to withdraw funds, emphasizing the positive impact of their partnership on Texas schools and families. The divestment campaign has faced challenges in states like Kentucky, where pension officials deemed divestment contrary to fiduciary duty, and in North Carolina, where despite criticism of BlackRock, significant funds remain invested due to the absence of a cheaper alternative.
Ponzi scheme trail concludes
Simon and Helen Hume-Kendall, accused of benefiting from a £24 million "Ponzi scheme" orchestrated by London Capital & Finance (LCF), have settled with the firm's administrators. They deny wrongdoing, stating Simon wasn't a director during the alleged scheme, and Helen faced no specific accusations. LCF, which raised £237 million from investors promising high returns, collapsed in 2019. The couple allegedly spent large sums on luxury travel, dining, and political donations. The case against other defendants, including LCF's former CEO Michael "Andy" Thomson, continues.
IN DEPTH: BITCOIN HALVING
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