FameEX Morning Crypto News Recap | February 6, 2024

Bitcoin Fuels Digital Asset Market Rally as Grayscale Sell-off Eases

In a single week, the digital asset market experienced a substantial inflow of $708 million, with the United States contributing $703 million. This marked a considerable recovery from the previous week's $499.7 million outflow. During the week of January 29, Bitcoin was the primary beneficiary, representing 99% of these inflows, amounting to $703 million.

Tether Takes Lead in $25 Million Funding for Mobile Payment Newcomer Oobit

Tether, the foremost stablecoin issuer, declared on Monday its principal investment in the Series A funding of Oobit, amassing $25 million. This fundraising effort for the mobile payment startup welcomed major backers such as Titan Fund, Anatoly Yakovenko from Solana, and 468 Capital, indicating a prominent partnership within the fintech and cryptocurrency fields.

Security Analysts Reveal AI Deepfake Audio Assault on Real-Time Conversations

Researchers at IBM Security have found an artificial intelligence (AI) technique capable of covertly hijacking and altering live conversations between individuals. This AI method is notably easy to implement, raising serious concerns over the security of real-time communications. It operates without detection, exposing critical flaws in the protection of live dialogues.

Merging AI and DeFi May Offer Mutual Benefits to Both Fields

Merging artificial intelligence (AI) with decentralized finance (DeFi) is seen by experts as a pathway to unparalleled advancements in both sectors. The integration is poised to revolutionize functions such as smart contract audits and the improvement of credit score assessments for loans, highlighting AI's potential to significantly boost the efficiency and trustworthiness of DeFi offerings.

South Korea Recommends Pre-Employment FSC Evaluation for Crypto Executives

South Korea's financial regulator has introduced amendments requiring incoming executives of cryptocurrency projects to gain regulatory consent before their engagement with crypto entities. Aimed at adjusting the country's reporting standards for virtual asset service providers, these amendments are slated for implementation by March 2024's end.

S. Korea's Regulatory Authority Set to Talk Bitcoin Spot ETF with SEC Chief Gary Gensler

South Korea's Financial Supervisory Service (FSS), the leading regulatory authority, plans to consult the United States Securities and Exchange Commission (SEC) for expertise on spot Bitcoin ETFs. The FSS, functioning under the broad supervision of the Financial Services Commission, is responsible for the oversight and regulation of financial entities within the nation.

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