FameEX Morning Crypto News Recap | July 31, 2024

SEC Unveils Information Page to Assist Terraform Labs Investor Compensation

The U.S. Securities and Exchange Commission (SEC) has published an information page for investors affected by Terraform Labs. After a settlement agreement last month, the SEC received inquiries about compensation procedures. The Chapter 11 plan confirmation hearing and commencement date are expected to occur in the fall.

Grayscale's Spot Bitcoin and Ethereum ETFs See Combined Outflows Exceeding $20 Billion

The combined outflow from Grayscale Investments' spot Bitcoin and Ethereum ETFs has exceeded $20.4 billion. Since its January 11 launch, Grayscale's spot Bitcoin ETF "GBTC" has averaged daily losses of about $137.7 million over seven months. By July 29, the total outflow for GBTC was $18.86 billion.

Bank of Ghana Finalizes CBDC Proof of Concept for Cross-Border Payments

The Bank of Ghana (BoG) has completed a proof of concept exploring digital credentials for international trade and cross-border payments based on CBDC. Maxwell Opoku-Afari, BoG's first deputy governor, stated that Project Desft aims to support African SMEs by eliminating significant obstacles in international trade.

Bahamas Bolsters Regulatory Framework with Digital Assets and Registered Exchanges Act of 2024

The Bahamas Securities Commission announced that the Bahamian Parliament has passed the Digital Assets and Registered Exchanges Act 2024 (DARE 2024), strengthening the country's digital asset regulation. Building on the 2020 DARE Act, the new bill introduces comprehensive reforms to address evolving changes in the digital asset and cryptocurrency markets.

Two NFT Artists Challenge US SEC on NFT Classification as Security

Two NFT artists, law professor Brian Frye and songwriter Jonathan Mann, sued the U.S. SEC over the classification of NFTs as securities and the agency's jurisdiction. Filed in the U.S. District Court for the Eastern District of Louisiana, the lawsuit accuses the SEC of trying to control digital art sales, citing two recent cases focused on NFTs.

Goldman Sachs CEO: Bitcoin May Have Potential as a Store of Value

On July 30, Bitwise research director Ryan Rasmussen reported that Goldman Sachs CEO David Solomon stated in a CNBC interview that Bitcoin could potentially be used as a value storage tool.

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