FameEX Morning Crypto News Recap | May 7, 2024

SEC Postpones Galaxy Spot Ethereum ETF Decision to July

The SEC has deferred its decision on Invesco Galaxy's Ether ETF application until July 5. This postponement provides the commission with extra time to comprehensively evaluate the proposed rule change and tackle any associated issues. The SEC emphasizes that this delay is crucial to thoroughly review the proposal's details and address any concerns before finalizing their approval or disapproval decision.

Bitcoin Mining Earnings Drop to Yearly Low Post-Halving

Bitcoin mining daily revenue has drastically fallen to below $3 million from approximately $6 million in early 2024. CryptoQuant CEO Ki Young Ju states that for mining to remain profitable post-halving, Bitcoin's price must exceed $80,000. In response, many miners have taken steps to upgrade their equipment, aiming to reduce operational costs and stay competitive in the market.

ECB Official Urges Central Banks to Overhaul Business Models and Embrace CBDCs

Joachim Nagel, Bundesbank president and ECB member, underscored the necessity for central banks to overhaul their business models and swiftly implement central bank digital currencies (CBDCs) to stay pertinent. He emphasized the essential integration of distributed ledger technology, citing the diminishing attractiveness of physical currency.

Marathon Digital Discusses Crypto Policy and Energy Use with Kenyan Government

Marathon Digital is discussing cryptocurrency policies and energy requirements for mining with the Kenyan government. These talks, part of Kenya's ongoing efforts to regulate the crypto market, were announced by the Kenyan president at an American business summit in Nairobi, also attended by the U.S. Commerce Secretary.

South Korea Hesitates to Include Crypto in Updated Donation Laws

South Korea's revised donation regulations exclude digital currencies, potentially hindering charity and donation efforts. Accepted donations include department store vouchers, stocks, and loyalty points from tech giants, but not cryptocurrencies.

Apple Develops AI Chips for Data Centers, Aiming for a Lead in Artificial Intelligence

Apple is bolstering its stance in the artificial intelligence sector by crafting chips specifically for server use in data centers. The initiative, known internally as Project ACDC (Apple Chips in Data Center), has been in progress for several years. While the launch date for these new chips is still undecided, this development may provide Apple with a significant competitive advantage in AI.

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