FameEX Morning Crypto News Recap | August 3, 2023

Gamestop's Crypto Wallet to Close Amid Regulatory Uncertainty; Users Urged to Secure Passphrase
Gamestop, a popular video game retailer, is set to terminate its iOS and Chrome Extension crypto wallets on November 1, 2023, due to crypto industry's regulatory uncertainty. The move is a response to the changing regulatory landscape.

Bitcoin ETF Approval Odds at 65%: Analysts Cite Blackrock's Influence
The chance of a spot bitcoin ETF being introduced in the U.S. has reached 65%. Analysts attribute this rise to pressure from Blackrock and possibly Democrats, which may prompt the U.S. Securities and Exchange Commission to act.

Japanese Yen Hits 20-Year Low Against US Dollar as BOJ Maintains Loose Policy Amid Inflation Pressure
In the past month, the Japanese yen has fallen by over 1% against the US dollar. On Tuesday, it hit its weakest point in more than 20 years due to the Bank of Japan's decision to maintain its loose monetary policy amid rising inflationary pressures and a declining currency.

White House and Janet Yellen Disapprove of Fitch's 'Bizarre and Baseless' US Rating Downgrade
Fitch Ratings' downgrade of the United States' debt rating faces criticism from Biden officials, who label it "bizarre and baseless." The White House and Treasury Secretary Janet Yellen strongly oppose the decision, citing its arbitrariness and reliance on outdated data.

Despite Decrease in Crypto Revenue, Robinhood Attains Profitability in Q2
In Q2, Robinhood's cryptocurrency revenue dropped 18% to $31 million, alongside declines in options and equities revenue. Overall, the company's revenue fell 4% from $202 million in the past year to $193 million in June.

India's Proposed Recommendations for G20's Crypto Roadmap
India's August 1 presidency note suggests a global crypto framework, aligning with FSB, FATF, and IMF guidelines. It seeks input for an international cryptocurrency regulation roadmap.

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