FameEX Morning Crypto News Recap | September 2, 2024

On-chain indicators suggest Bitcoin nearing ‘favorable’ buy levels

A crypto analyst noted that the Puell Multiple, a popular Bitcoin indicator used to gauge miner selling activity, is nearing a level that could signal a buying opportunity. According to CryptoQuant contributor Grizzly's August 31 report, if the indicator drops below 0.6, as seen historically, it could indicate a favorable time for investors to buy Bitcoin.

New Poll Reveals Crypto Holders Are More Likely to Back Trump

A new Fairleigh Dickinson University poll shows that cryptocurrency holders are more likely to support Trump over Vice President Harris in a potential election matchup. 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: Lower-than-expected Ethereum ETF trading volume may be linked to limited leverage trading options

Galaxy Research noted that Ethereum ETF trading volume has been significantly lower than Bitcoin ETF trading volume since its launch. It also lags behind the ETH/BTC trading volume ratio on centralized exchanges. One key factor is the lack of leveraged trading services for the Ethereum ETF on major platforms.

OpenAI and Anthropic Partner with US AI Safety Institute for Early Access to New Models

OpenAI and Anthropic have agreed to grant the U.S. AI Safety Institute early access to any significant new AI models they develop. While the agreement stems from shared security concerns, the government's exact role in managing the security implications of these technological advancements remains unclear.

Tether CEO: The Future of Exchanges Will Be Peer-to-Peer

Tether CEO Paolo Ardoino stated on X that many builders are worried about censorship attempts, noting that most current technologies are centralized and designed for optimal conditions. He emphasized that the future of communication will be peer-to-peer, designed for worst-case scenarios, and believes this shift is inevitable and unstoppable.

Brazilian Government Blocks X Platform and Threatens Fines

On September 1, Michael Shellenberger reported that the Brazilian government blocked X (formerly Twitter) and threatened citizens with a daily fine of $8,900 for using the platform. Elon Musk retweeted in support, stating that while Twitter respects Brazilian laws, it also reserves the right to refuse compliance when 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.