FameEX Morning Crypto News Recap | January 11, 2024

Broad Approvals: SEC Gives Nod to 11 Spot Bitcoin ETFs

The SEC has sanctioned 11 spot bitcoin ETFs for trading on major U.S. exchanges, surpassing significant regulatory barriers. Set to begin trading this Thursday on NYSE Arca, Nasdaq, and Cboe BZX Exchange, this move represents a crucial step in incorporating bitcoin into conventional financial markets.

SEC Chairman Gary Gensler Emphasizes That Spot Bitcoin ETF Approval Does Not Imply Support for BTC

Following the SEC's approval of spot bitcoin ETFs, Chairman Gary Gensler emphasizes that this does not signify a validation of bitcoin. He asserts that many crypto assets qualify as securities and advises investors to be aware of the risks associated with bitcoin and similar products, underscoring the importance of prudence in cryptocurrency investments.

Former SEC Authority Slams Spot Bitcoin ETFs as Potential Cause for 'Financial Catastrophe'

Former SEC internet enforcement head John Reed Stark strongly advises against investing in spot bitcoin ETFs. He lambasts the creators of these funds as a self-serving coalition of rich financial magnates, accused of designing products that lead investors towards substantial financial risks and potential ruin, all in the pursuit of their own financial benefits and gains.

Michigan University to Enable AI to Enroll in Courses, Choose Major, and Earn a Degree

Ferris State University in Michigan is embarking on an experiment to enroll two artificial intelligence (AI) students in its classes this year. The goal is to study how AI interacts with a university curriculum. Instead of actively participating, the AI systems will observe classes using audio and video feeds, providing valuable insights into this innovative educational approach.

Phoenix Invests $187 Million in Bitcoin Mining Machinery Acquisition

Phoenix Computer Equipment, part of the Phoenix Group, announced on the Abu Dhabi Securities Exchange (ADX) on January 9, 2023, its finalized deal through Cypher Capital DMCC with Bitmain Development PTI Ltd. The agreement focuses on the purchase of cutting-edge bitcoin mining machines, marking Phoenix's significant venture into the domain of cryptocurrency mining technology.

X (Previously Known as Twitter) Drops NFT Profile Pictures from Support Page

Twitter, on January 20, 2022, launched NFT profile pictures with a verification feature for its paid subscribers, giving those using NFTs a distinct hexagonal border on their avatars. Recently, in a notable change, NFTs have been discontinued from X's (previously known as Twitter) premium support page, indicating a significant alteration in the platform's offerings.

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