FameEX Morning Crypto News Recap | August 31, 2023

Bloomberg Experts Enhance Probability of Spot Bitcoin ETF Approval Post Grayscale's Legal Victory
Bloomberg's ETF experts, Eric Balchunas and James Seyffart, initially foresaw a 65% chance for spot bitcoin ETF approval in August 2023. After a US court favored Grayscale in their SEC legal clash, their projection has now risen to a 75% probability.

Nodal Power Secures $13M Funding to Convert Landfill Gas into Sustainable Bitcoin Mining
Nodal Power of Utah, renowned for transforming landfill gas into energy for bitcoin mining, secures $13 million in a seed round with strategic investor backing. CEO Bryan Black emphasizes its capacity to significantly impact local energy markets.

PYUSD's Subtle Presence: A Story of Quiet Performance Among Stablecoin Giants
Recently, PayPal's stablecoin (PYUSD) has grown, yet it significantly trails leading stablecoins in scale, engagement, and trading. In comparison, it constitutes only 0.052% of Tether's $82B market cap and 0.16% of USDC's $26.12B valuation, highlighting its limited presence within the stablecoin landscape.

Tether Embraces Bahamas' Britannia Bank Amidst US Banking Challenges
According to undisclosed sources, Tether (USDT), the primary stablecoin by market cap, has moved its banking operations to Britannia Bank & Trust. In the last month, USDT's supply dropped by 1.3%, leaving 82.85 billion USDT in circulation.

Cryptocurrency Analyst Anticipates Increased Stablecoin Adoption Despite Regulatory Challenges
Bloomberg Intelligence analyst Jamie Coutts predicts strong uptick in stablecoin adoption after resolving U.S. regulatory issues. He points to rapid expansion of stablecoin usage, possibly surpassing bitcoin, with companies like PayPal integrating them into payment systems.

US Copyright Office Initiates Inquiry Regarding Artificial Intelligence
The US Copyright Office seeks input and inquiries about copyright issues tied to artificial intelligence, notably generative AI such as ChatGPT and Google's Bard. Their goal is to accumulate insights and factual data regarding copyright challenges stemming from AI technological progress.

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