FameEX Morning Crypto News Recap | September 2, 2024

On-chain indicators point to Bitcoin approaching ‘favorable’ buy levels

A crypto analyst highlighted that the Puell Multiple, a key Bitcoin indicator for assessing miner selling activity, is approaching a level that might signal a buying opportunity. According to CryptoQuant contributor Grizzly's August 31 report, if the indicator falls below 0.6, it could historically indicate a favorable time for investors to purchase Bitcoin.

New Poll Indicates Crypto Holders Are More Likely to Support Trump

A new Fairleigh Dickinson University poll reveals that cryptocurrency holders are more likely to support Trump over Vice President Harris in a potential election. Half of crypto holders favor Trump, while 38% back Harris. Among non-crypto owners, Harris leads by 12 points, with 53% supporting her and 41% favoring Trump.

Galaxy Research: Ethereum ETF Trading Volume Falls Short, Possibly Due to Limited Leverage Trading Options

Galaxy Research observed that Ethereum ETF trading volume has been notably lower than Bitcoin ETF volume since its launch, and it also trails the ETH/BTC trading volume ratio on centralized exchanges. A significant factor is the absence of leveraged trading services for the Ethereum ETF on major platforms.

OpenAI and Anthropic Collaborate with US AI Safety Institute for Early Model Access

OpenAI and Anthropic have agreed to give the U.S. AI Safety Institute early access to significant new AI models they create. Although the agreement is driven by shared security concerns, the government's specific role in addressing the security implications of these advancements is still uncertain.

Tether CEO: Exchanges of the Future Will Operate Peer-to-Peer

Tether CEO Paolo Ardoino expressed on X that many developers are concerned about censorship, highlighting that current technologies are centralized and built for ideal conditions. He stressed that the future of communication will be peer-to-peer, designed for worst-case scenarios, and believes this shift is both inevitable and unstoppable.

Brazilian Government Shuts Down X Platform and Issues Fine Threats

On September 1, Michael Shellenberger reported that the Brazilian government blocked X (formerly Twitter) and threatened users with a daily fine of $8,900. Elon Musk responded, emphasizing that while Twitter respects Brazilian laws, it reserves the right to refuse compliance if asked to break them.

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