FameEX Morning Crypto News Recap | August 27, 2024

New ETF Fees to Reach Decade-High in 2024

The rise of ultra-low-cost passive ETFs has led to a surprising trend in fund management, new ETFs are launching with higher fees. In 2024, the average fee for new ETFs is expected to be 61 basis points, the highest since 2010, according to Bloomberg.

U.S. Corporate Equipment Orders Declined in July, Leaving Future Investment Prospects Uncertain

In July, U.S. corporate equipment orders dropped, and June's increase was revised down, reflecting growing caution among companies about investment. Orders for capital goods excluding aircraft and military equipment fell 0.1%. Despite ongoing long-term investments, uncertainty surrounding the presidential election and future demand has led companies to scale back expansion plans.

The UK Financial Conduct Authority Hasn't Approved Any Cryptocurrency Businesses in Nearly Six Months

The UK Financial Conduct Authority hasn't registered any cryptocurrency companies in nearly six months due to their failure to meet anti-money laundering standards. Of the 34 applications received in the past 12 months, only four were approved.

Indian Government Probes Telegram for Criminal Activity, Potential Ban Looms

The Indian government is investigating Telegram for alleged involvement in criminal activities like extortion and gambling. Depending on the investigation's outcome, Telegram could face a ban. The investigation is being led by India's home ministry and the ministry of electronics and information technology, which specialize in probing such crimes.

Trump Family Crypto Project Poised for Major Announcement

The official Telegram channel of the Trump family's crypto project, "World Liberty Financial," announced that major updates and exciting news are on the way. Followers are encouraged to stay informed by following the project's official X account, WLFI (@worldlibertyfi).

TD Cowen Advises Setting Realistic Expectations for U.S. Crypto Legislation in 2024

TD Cowen advises tempering expectations for U.S. crypto legislation in 2024, citing increased risks of political deadlock. The investment bank notes declining prospects for passing the FIT21 cryptocurrency market structure bill and the Senate Agriculture Committee bill, warning that optimism may be misplaced as voting chances for both bills diminish 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.