Hala,
💾 Man loses hard drive with £600m in Bitcoin? 🚮 Solution: buy the entire landfill! 🤯 James Howells from Wales, who claims his fortune was mistakenly binned in 2013, is now considering purchasing the dump after losing a legal battle to search it.(1) Talk about high-stakes recycling! ♻️💰
amana’s Crypto Take
- Litecoin (LTC), the faster, cheaper cousin of Bitcoin, just jumped 8.5% to $134 as traders bet on a spot ETF approval. Designed for quick payments and low fees, LTC processes transactions in 2.5 minutes (compared to Bitcoin’s 10), making it a favorite for speed and efficiency. Now, with Grayscale pushing for an LTC ETF, the market is wondering: will regulators finally give it the green light?
- Betting markets now see an 87% chance of Litecoin’s ETF getting approved in 2025 — better odds than XRP (81%) and DOGE (66%). Analysts say LTC has a stronger shot because it’s further along in the SEC review process and doesn’t carry the same legal baggage as XRP (still stuck in a lawsuit). But before anyone gets too bullish, let’s not forget how unpredictable Washington can be — one shift in SEC leadership, and the whole thing could stall.
- A Litecoin ETF would open the floodgates for institutional investors, potentially driving adoption and lifting prices across the crypto market. LTC, currently the 13th largest cryptocurrency with a $10.15 billion market cap, could see renewed interest as traditional finance warms up to digital assets. But until the SEC stops playing crypto gatekeeper, traders will keep doing what they do best — speculating wildly.
Stock Market Update
💪📈 Wall Street hit the gym on Tuesday, powering past U.S. trade tariff plans and inflation jitters. The S&P 500 pumped up 0.24% to a record 6,129.58, the Dow eked out 0.02% to 44,556.34, and the Nasdaq 100 lifted 0.23% to 22,164.61. Energy stocks, led by Halliburton and Valero, kept the rally juiced.(2) These bulls didn’t skip leg day! 🏋️♂️🔥
⬆️💪 Meanwhile, Gulf markets shook off tariff jitters with a mixed finish — Abu Dhabi advanced 0.7% to 9,619, while Dubai tripped 0.2% to 5,375.(3) ⬇️👣
🎶💰 RBA’s Rate Cut: A Subtle Shift After a Long Drought!
Reserve Bank of Australia (RBA) just performed a delicate financial dance with its first rate cut in over four years, kind of like a cautious gardener finally loosening the soil after a long drought.(4) After holding steady for months, the RBA decided it was time to break free from its stubbornly high rates — just a little bit. It’s like they were waiting for the economic storm to pass, and with inflation easing up a bit, they’re planting the seeds for something a little calmer. 🌱📉
🌿🌱 The Seeds of Change:
- RBA cut the rates by 25 basis points to 4.10%, after holding at 4.35% since November 2023 (post 13 rate hikes).
- Inflation’s cooling off (2.4% over the year through the December quarter vs. 2.8% in the 12 months through September quarter), allowing this moment of rate-cut relief, even if it’s cautious. 💧
- The RBA says no quick dives into rate cuts, calling for a gradual approach to easing monetary policy further.
- Market was ready for this; government bonds rallied, with yields dropping on the anticipation.
- Unemployment’s still low at 4.0%, but consumption growth might take its sweet time. 🌾📉
🌱💡 The Growth Garden Awaits
Australia’s economy isn’t exactly blooming just yet. With GDP growing by a modest 0.3% in Q3 and annual growth slowing, it’s clear the RBA’s cautious watering of the economy is a thoughtful approach. While inflation’s slowing, the economic soil is still a little rocky — leaving the RBA tending carefully and nurturing growth at its own pace. 🌿⏳
Closer to Home
- 💼 Saudi bourse Tadawul’s IPO engine is at full throttle — with 50+ applications under review, 100 more queued, and 15 already stamped, it’s gearing up for a record-breaking year of listings!(5) Tadawul isn’t just busy — it’s booming. 💥
- 💰 Qatar is going all in on India with a $10B investment pledge to strengthen ties — tech, energy, and other sectors are getting a boost. This partnership just got a serious upgrade.(6) 🚀
- 💳 Mastercard and fintech platform Tamara are making spending even smoother in the UAE with a new virtual card — split your payments and shop stress-free online or in-store.(7) Because who doesn’t love a little flexibility? 🛍️
What Else Is Trending
- 💾 Intel shares rallied 16.1%, closing at $27.39 on Tuesday — its best day since 2020 — after reports that Broadcom and TSMC are eyeing a potential split of the embattled chipmaker. No formal bids yet, but Wall Street is buzzing!(8) 📊
- ✂️ New Zealand’s central bank chopped rates by 50 bps to 3.75% — its fourth straight cut — as cooling inflation gives it room to jumpstart a sluggish economy. #RateCutAlert!(9) 🚀
- 🔥 Meanwhile, oil prices rose as supply snags hit Russia and the U.S., but Ukraine peace talks kept gains in check. Brent climbed 0.8% to $75.84, and WTI jumped 1.6% to $71.85.(10) 🚀
💬Quote of the Day
“He who plants a garden plants happiness.” — Chinese Proverb
Check out now: https://amana.app/campaigns/interest
Sources:(1) Sky News, (2) (4) (8) (9) CNBC, (3) (5) (6) (7) Zawya, (10) Reuters
