FameEX Morning Crypto News Recap | October 27, 2023

DeFi Makes a Robust Comeback as Total Value Locked Surpasses $40 Billion

During the recent crypto market resurgence, the total value locked (TVL) in decentralized finance (DeFi) protocols has surpassed $40 billion, marking a significant recovery from levels seen in mid-August. The combined market capitalization of the top 100 DeFi coins is now approaching the $50 billion mark.

Nigeria to Incorporate Fintechs into Expanded Official Currency Market

Nigeria plans to broaden its official foreign exchange market to include "legitimate" participants like bureaux de change and fintech companies, as announced by Finance Minister Wale Edun. Additionally, the country anticipates receiving $10 billion in inflows in the next few weeks.

Circle Introduces 'Points-to-Crypto' Initiative in Partnership with Taiwanese Convenience Store Chain

Circle, a stablecoin issuer from the United States, has partnered with Taiwan's second-largest convenience store chain, FamilyMart. Their joint initiative introduces a "Points-to-Crypto" service, integrated into the FamilyMart app, as revealed in an announcement on October 26th.

The Potential Impact of Google's AI Legal Protections on Art and Copyright Rights

Google faces several legal challenges over its AI services, particularly regarding the effects of generative AI on copyright and privacy. Nevertheless, Google is resolute in protecting its users and its AI technologies. It is actively addressing these legal issues as it navigates the evolving legal landscape around AI-generated content and its impact on intellectual property and personal privacy.

Gary Gensler Hints at SEC's $5 Billion in Enforcement Actions and Shares Crypto Insights

During his speech at the 2023 Securities Enforcement Forum, SEC Chair Gary Gensler addressed the agency's enforcement actions, which amounted to $5 billion in judgments and orders. He emphasized the economic implications of these actions and revealed that the SEC had initiated over 780 enforcement actions in 2023, with more than 500 of them being standalone cases.

Meta Faces Legal Challenges as AI Advancements Heighten Child Safety Concerns

Rapid advancements in artificial intelligence, especially in text and generative AI, have raised concerns about child safety. Meta, the parent company of Facebook and Instagram, is facing a lawsuit from 34 U.S. states. They accuse Meta of exerting improper influence on minors using its platforms. This legal action underscores the evolving landscape of AI technologies and their potential impact on child protection.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​