FameEX Morning Crypto News Recap | May 27, 2024

US Spot Bitcoin ETF Daily Purchases Outstrip Bitcoin Production

HODL15Capital's data shows daily US spot Bitcoin ETF purchases of at least 1,000 BTC, significantly exceeding the 450 BTC mined each day. This disparity indicates a potential shortage of tokens for short-term traders.

Trump Vows to Back 50 Million US Cryptocurrency Users, Considers Reducing Ross Ulbricht’s Sentence If Elected

Former US President Trump, speaking at the Libertarian Party National Convention, pledged to secure the future of cryptocurrency and uphold the self-custody rights of 50 million US cryptocurrency holders. Additionally, he promised to reduce the sentence of Silk Road founder Ross Ulbricht if re-elected.

Licensing Period for Virtual Asset Service Providers Ends in Hong Kong, Prompting Withdrawals of Several Applications

The transition period for licensing virtual asset service providers in Hong Kong concludes this month, with the Securities and Futures Commission (SFC) set to decide on the continued operations of existing providers post-June. Recently, several platforms have retracted their applications, citing high operational costs, such as licensing fees and the expense of hiring qualified personnel, according to tech leader Xu Jiansheng.

Apple to Showcase New AI Features at Developer Conference Next Month

At its upcoming developer conference, Apple will unveil new AI features under the "Gray Matter Project," integrating AI tools into core applications such as Safari, Photos, and Memos. These features will function partly on-device, while the more demanding tasks will be cloud-processed, supported by the M2 Ultra chip, aiming to enhance daily consumer tools.

Abu Dhabi Outlaws Crypto Mining on Farms, Sets Fines Up to $2,722 for Violations

The Abu Dhabi Agriculture and Food Safety Authority has prohibited cryptocurrency mining on farms, with fines up to 10,000 dirhams ($2,722) for infractions. Despite this, the UAE continues to be a favorable location for Bitcoin mining, accounting for approximately 4% of the global computing power in 2023.

Survey Finds 60% of US Cryptocurrency Investors Lack Knowledge of Blockchain Technology

A Preply survey found that 60% of US cryptocurrency investors do not understand blockchain technology. Interest in learning about cryptocurrencies is present in 41% of respondents, with Generation Z showing the least interest. Additionally, the survey indicated that Americans who invest in NFTs tend to also invest in cryptocurrencies.

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