FameEX Morning Crypto News Recap | August 28, 2024

Citi: Market Skepticism Surrounding U.S. Economic Trends Could Lead to Disappointing ETF Flows

On August 27, Citibank reported that the cryptocurrency market has struggled since the U.S. launch of spot Ethereum (ETH) ETF trading on July 23. Citigroup noted that ETF flows may continue to disappoint unless there is greater clarity on whether the U.S. economy will experience a "soft" or "hard" landing.

CME Group Set to Launch Bitcoin Friday Futures in 2024

CME will launch Bitcoin Friday futures (BFF) on September 30, 2024, with each contract representing 1/50 of a Bitcoin. These contracts will expire weekly on Fridays at 4:00 and settle to the New York variant of the CME CF Bitcoin Reference Price, offering a closer alignment with Bitcoin's spot price.

OpenAI Hiring Internal Risk Technology Investigators to Address Security Threats

OpenAI recently posted a job opening for an internal risk technical investigator to enhance its defenses against internal security threats. The role involves analyzing unusual activities, detecting and mitigating internal risks, and collaborating with HR and legal departments to investigate suspicious behavior.

New Zealand's Tax Minister Proposes Legislation to Implement OECD Crypto-Asset Information Exchange Framework

New Zealand’s Tax Minister has proposed legislation to implement the OECD’s crypto asset information exchange framework, set to take effect in April 2026. By 2027, crypto service providers must collect and submit transaction data to the tax office or face fines of $300 per violation, and $1,000 if users fail to provide required information.

Global Number of Crypto Millionaires Surges 95% to 172,300

The number of global crypto millionaires has surged 95% in the past year, reaching 172,300, according to a report by New World Wealth and Henley & Partners. This increase is attributed to the rise of Bitcoin exchange-traded funds and other crypto assets, up from 88,200 millionaires last year.

BTC Dropped 8.68% and ETH Plummeted 26.19% Following Harris's Candidacy Announcement

Bitwise Chief Investment Officer Matt Hougan reported that after Harris announced her intent to replace Biden as the next U.S. president, BTC dropped 8.68%, and ETH fell 26.19%.

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