FameEX Morning Crypto News Recap | August 27, 2024

ETF Fees Projected to Hit Decade-High in 2024

The growing popularity of ultra-low-cost passive ETFs has sparked an unexpected trend in fund management, with new ETFs launching at higher fees. In 2024, the average fee for these new ETFs is projected to reach 61 basis points, the highest since 2010, according to Bloomberg.

U.S. Corporate Equipment Orders Dropped in July, Casting Doubt on Future Investment Prospects

In July, U.S. corporate equipment orders declined, with June's increase revised down, signaling growing investment caution. Orders for capital goods excluding aircraft and military equipment fell 0.1%. While companies continue long-term investments, uncertainty about the presidential election and future demand has prompted them to scale back expansion plans.

UK Financial Conduct Authority Hasn't Approved a Cryptocurrency Business in Almost Six Months

The UK Financial Conduct Authority hasn't registered any cryptocurrency companies in almost six months, citing failure to meet anti-money laundering standards. Out of 34 applications received over the past year, only four were approved.

Indian Government Investigates Telegram for Criminal Activity, Possible Ban Ahead

The Indian government is investigating Telegram for alleged involvement in criminal activities, including extortion and gambling. Depending on the investigation's findings, Telegram could face a ban. The inquiry is being conducted by India's home ministry and the ministry of electronics and information technology, which focus on such crimes.

Trump Family Crypto Project Set for Major Announcement

The official Telegram channel for the Trump family's crypto project, "World Liberty Financial," revealed that significant updates and exciting news are coming soon. Followers are urged to stay updated by following the project's official X account, WLFI (@worldlibertyfi).

TD Cowen Recommends Managing Expectations for U.S. Crypto Legislation in 2024

TD Cowen recommends moderating expectations for U.S. crypto legislation in 2024, highlighting the growing risk of political deadlock. The investment bank points to declining prospects for passing the FIT21 market structure bill and the Senate Agriculture Committee bill, cautioning that optimism may be misplaced as voting chances for both bills decrease this year.

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