FameEX Morning Crypto News Recap | March 1, 2024

Grayscale Advocates for SEC Approval on Bitcoin Spot ETF Trading Options

Grayscale Investments is advocating for the US Securities and Exchange Commission (SEC) to permit options trading on its Bitcoin ETF. This move aims to widen the cryptocurrency market's appeal to a diverse range of investors by securing regulatory approval.

SEC Reportedly Conducts Inquiry into OpenAI, Scrutinizing Internal Documents for Investor Misrepresentation

Following the temporary ousting of CEO Sam Altman, the Securities and Exchange Commission (SEC) has begun an investigation into OpenAI over concerns that the company may have misled its investors. The SEC's inquiry includes subpoenas for internal documents from OpenAI's current and former executives and board members to gather evidence.

Microsoft Unveils AI-Driven 'Copilot for Finance'

Microsoft launched "Copilot for Finance" in a public preview on February 29, entering the realm of virtual AI assistants. Integrated within the Microsoft 365 ecosystem, this service harnesses artificial intelligence to provide generative AI and automation improvements, aimed at augmenting both newly developed and existing workflows, enhancing the suite's productivity tools with sophisticated AI technology.

Bank of America Merrill Lynch and Wells Fargo Launch Spot Bitcoin ETF Offerings for Clients

Reportedly, select clients of Bank of America Merrill Lynch and Wells Fargo's wealth management sector now have access to spot bitcoin ETFs. They join the ranks of investment platforms such as Fidelity, Charles Schwab, Robinhood Markets, and UBS, all of which have extended access to spot bitcoin ETFs to some of their clients.

Election Concerns Temporarily Halt South Korea's Relaxation of Crypto and ETF Regulations

South Korea has postponed its plans to ease crypto regulations and lift the ban on spot bitcoin exchange-traded funds (ETFs). This decision comes amid deliberations by the People Power Party to potentially lift these restrictions before the upcoming general election in South Korea, leading to a delay in regulatory changes initially proposed by the government.

Former IMF Economist Warns of US Debt

A former International Monetary Fund (IMF) economist voices worries about rising US debt, while the Atlanta Federal Reserve leader indicates potential interest rate reductions. These divergent signals underscore concerns over the economic landscape, with one highlighting fiscal strains and the other suggesting adjustments in monetary policy to address them.

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