FameEX Morning Crypto News Recap | August 22, 2023

Comparing Bitcoin to 1930 Stock Market Crash: Insights from Market Analyst
Drawing a parallel, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, likens Bitcoin's present situation to the 1930 stock market. Similar to the 1929 Great Crash, he correlates elevated equity prices with a subsequent 90% market fall, a significant factor in the prolonged Great Depression.

South Africa Affirms Attendance of Over 40 Heads of State at BRICS Summit
South Africa, the host of this year's BRICS summit, reveals over 40 heads of state will attend the Aug. 22-24 event. Significantly, 23 nations have formally applied for BRICS membership, underscoring the organization's growing global importance and popularity.

Report Highlights Privacy and Freedom Risks Posed by Federal Reserve CBDC
The AFPI cautioned against adopting a central bank digital currency (CBDC) due to risks outlined in a report by Michael Faulkender and David Vasquez. Concerns focus on potential hazards tied to the direct issuance of a digital dollar by the Federal Reserve.

Nobel Laureate Paul Krugman Suggests Argentina's Adoption of Euro Over US Dollar
Economics Nobel laureate Paul Krugman proposes Argentina's shift to the euro from the U.S. dollar due to the peso's devaluation. Highlighting the nation's robust trade connections with the European Union, Krugman asserts that the euro aligns better with Argentina's circumstances.

Distinguished UK University Teams Up with AI Startup to Analyze Cryptocurrency Market
Imperial College London partners with FluidAI, an AI startup, to tackle digital asset market challenges using advanced tech. Their goal is to improve the "tokenized market" for institutions, trading platforms, and retail investors, with a particular emphasis on addressing liquidity aggregation issues in the crypto space.

SEC Charges Crypto Investment Manager Titan for Deceptive Advertising Claims
Fintech adviser Titan Global Capital Management reaches an agreement with the U.S. Securities and Exchange Commission (SEC), agreeing to a cease-and-desist order, censure, and monetary penalties. This resolution stems from SEC allegations tied to deficiencies in advertising and compliance.

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