FameEX Morning Crypto News Recap | August 26, 2024

Fed Chairman Powell Suggests Possible Rate Cut at Jackson Hole Gathering

At the Jackson Hole meeting, Fed Chairman Powell indicated a probable interest rate cut, with a September reduction nearly assured. He stressed the increasing risks to employment and affirmed that policy adjustments are necessary. Powell reiterated the Fed's strong commitment to bolstering the labor market.

MicroStrategy Founder Asserts Bitcoin Surpasses All S&P 500 Companies

On August 25, MicroStrategy founder Michael Saylor stated on social media that Bitcoin has outperformed all S&P 500 companies over the past four years.

Vitalik Raises Concerns Over Telegram Founder’s Arrest: Worries About the Future of Software and Communication Freedom in Europe

Vitalik Buterin, commenting on X about the Telegram founder's arrest, expressed concern over the charges, which appear to involve "unrestrained" actions without compromising user data. He warned that this situation raises significant concerns about the future of software and communication freedom in Europe.

Microsoft Commits $1.5 Billion to UAE AI Company G42

Microsoft's $1.5 billion investment in UAE AI firm G42 is a strategic move to gain access to extensive data, leverage a robust market, and take advantage of relaxed regulations. This aligns with Microsoft's and OpenAI's broader goals to solidify AI leadership and expand their global influence, marking a significant step in their strategic efforts.

Thai Authorities Raid Illegal Bitcoin Mining Site in Bangkok

Thai authorities raided an illegal Bitcoin mining site in Ratchaburi, near Bangkok, after residents reported frequent power outages. During the raid, police and Provincial Electricity Authority officials found that most of the mining equipment had been relocated, indicating the operation was partially dismantled before their arrival.

Asian Stocks Set to Rise After Fed Chairman's Speech

Asian stocks were anticipated to rise on Monday after the Federal Reserve chairman's positive signals, with markets expecting policy easing in September. Powell's remarks bolstered investor confidence, while gold jumped 1.3% to near a record high and remained steady in early Monday trading.

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