FameEX Morning Crypto News Recap | April 1, 2024

Microsoft and OpenAI to Invest $100 Billion in Creating "Stargate" AI Supercomputer

On March 30, Microsoft and OpenAI announced plans for a $100 billion data center project, including the development of an AI supercomputer named "Stargate," set for a 2028 launch. This initiative responds to the growing demand for AI data centers, fueled by the fast adoption of generative AI technologies, which require more sophisticated capabilities than conventional data centers.

NFT Market Stability Questioned as Sales Decline for the Third Straight Week

For the third consecutive week, NFT sales have declined, this time by 14.97% compared to the last week. Despite the overall downturn, Bitcoin NFTs topped the sales charts between March 23 and March 30, bringing in $82.61 million, although this was a 3.8% decrease from the week before.

US Imposes Stricter Sanctions on Russian Financial Technology Firms

The U.S. Treasury Department’s OFAC has heightened sanctions on key figures and organizations within Russia's financial and technology sectors, particularly targeting those engaged with virtual assets. These sanctions aim to block efforts to bypass U.S. restrictions, focusing on those facilitating transactions or services that assist other sanctioned entities in evading U.S. sanctions.

China Rules Out Quantitative Easing Policy, but Interest Rate Reductions Remain Highly Probable

Speculation about China initiating a quantitative easing (QE) policy has been rife. International banks, scholars, and traders agree that China won't pursue QE currently. However, there's a consensus that China's monetary easing is ongoing, with expectations high for more interest rate cuts within the year, indicating a continued softening monetary policy stance.

Panasonic and Jasmy Unveil Web3 Platform for IoT Data Management

Panasonic and Jasmy have unveiled a decentralized Web3 platform for IoT data control, blending agile development with Web3 technology. By utilizing Jasmy's data storage, the platform aims to give users complete control over their data access, pioneering a new level of data privacy and management in the IoT domain.

UK's Financial Watchdog Sets Marketing Guidelines for Meme Coins, Demands Transparency and Compliance

The UK's Financial Conduct Authority (FCA) has issued guidance for the marketing of meme coins by financial firms and social media influencers, emphasizing the need for transparency and accuracy. It mandates that "financial influencers" must secure approval from an FCA-approved representative prior to promoting financial products and services through advertisements or memes.

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