FameEX Morning Crypto News Recap | June 5, 2024

BIS Entrepreneur Foresees Quick Jump in Bitcoin to $95,000

BIS entrepreneur and BTC investor Alistair Milne believes Bitcoin will surge dramatically after breaking through key resistance levels. He references the 2015-2016 period, where Bitcoin jumped from $470 to $790, predicting a similar rise from $74,000 to around $95,000 within 2 to 3 weeks after breaking resistance.

Russia Set to Impose Strict Cryptocurrency Controls from September 1, Exemptions for Miners and Central Bank Projects

Anatoly Aksakov, a member of the Russian State Duma, has proposed a bill to ban private cryptocurrency circulation from September 1. The legislation seeks to severely limit the circulation of crypto assets like Bitcoin and the digital ruble but will not apply to crypto mining and central bank experimental projects. This measure is designed to restrict unregulated transactions without completely banning the use of digital currencies.

Thailand's SEC Authorizes One Asset Management to Introduce the Country's First Bitcoin Spot ETF

The Thai Securities and Exchange Commission authorized One Asset Management to launch Thailand's inaugural Bitcoin spot ETF, ONE-BTCETFOF-UI, scheduled for June 4. Available from May 31 to June 6, this ETF, with a risk level of eight, is aimed at high-net-worth individuals and institutional investors.

Expected Drop in U.S. Job Openings in April May Pressure the Dollar

U.S. job vacancies have stayed under 9 million for six months after reaching 9.3 million last September. Expected to drop from 8.48 million in March to 8.34 million in April, a further decline to 8 million or less could indicate a loosening labor market and potentially weaken the U.S. dollar, notes analyst Eren Sengezer.

AI Experts Push for Stronger Whistleblower Safeguards and Greater Public Knowledge of Advanced AI Risks

Thirteen former and current employees of OpenAI (ChatGPT), Anthropic (Claude), and DeepMind (Google), alongside top AI experts, are pushing for stronger whistleblower protections. Their objective is to heighten public understanding of the risks linked to advanced artificial intelligence systems.

BIS Starts Project Rialto to Upgrade Conventional Cross-Border Payment Methods

The Bank for International Settlements introduced Project Rialto to enhance traditional cross-border payments. The project integrates modular foreign exchange components with CBDC settlements to facilitate instant payments. Initiated by the BIS Innovation Center and Singapore Center, alongside various central banks, Project Rialto targets the inefficiencies, high costs, and complexities of existing foreign exchange services.

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