FameEX Morning Crypto News Recap | May 27, 2024

US Daily Spot Bitcoin ETF Purchases Surpass Bitcoin Production

HODL15Capital monitoring data reveals that while only 450 BTC are mined daily, US spot Bitcoin ETFs purchase at least 1,000 BTC each day. This significant disparity suggests that short-term traders may soon face a shortage of tokens available for trading.

Trump Pledges Support for 50 Million US Cryptocurrency Holders, Promises to Commute Ross Ulbricht’s Sentence If Elected

Former US President Trump spoke at the Libertarian Party National Convention, pledging to secure the future of cryptocurrency and Bitcoin in the US and to uphold the self-custody rights of 50 million cryptocurrency holders. He also promised to reduce the sentence of Silk Road founder Ross Ulbricht if re-elected as president.

Hong Kong's Licensing Window for Virtual Asset Providers Closes, Leading to Withdrawals by Several Platforms

The licensing transition period for virtual asset service providers (VASPs) in Hong Kong is set to end this month. Subsequently, the Securities and Futures Commission (SFC) will determine if current providers can operate beyond June. Recently, due to high operational costs, including licensing fees and the need for qualified personnel, several platforms have withdrawn their license applications, as noted by Xu Jiansheng, a key figure in Hong Kong's tech industry.

Apple Set to Reveal New AI Features at Upcoming Developer Conference

Apple is set to introduce new artificial intelligence features at its upcoming developer conference. The features, part of the "Gray Matter Project," will integrate AI tools into core apps like Safari, Photos, and Memos. These will operate partially on-device, with more demanding tasks processed in the cloud, supported by the M2 Ultra chip. This development focuses on enhancing everyday consumer tools.

Abu Dhabi Prohibits Cryptocurrency Mining on Farms, Imposes Fines Up to $2,722 for Violations

The Abu Dhabi Agriculture and Food Safety Authority has banned cryptocurrency mining on farms, imposing fines up to 10,000 dirhams ($2,722) for violations. Despite the ban, the UAE remains favorable for Bitcoin mining, contributing about 4% to global computing power in 2023.

Survey Reveals 60% of US Cryptocurrency Investors Lack Understanding of Blockchain Technology

A Preply survey revealed that 60% of US cryptocurrency investors lack an understanding of blockchain technology. While 41% are interested in learning about cryptocurrency, the least interest comes from Generation Z. The survey also highlighted that Americans who invest in NFTs are likely to invest in cryptocurrencies as well.

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