FameEX Morning Crypto News Recap | July 9, 2024

German Government Moves Another $900M in Bitcoin, Amplifying BTC Selling Pressure

Repeated Bitcoin transfers to centralized exchanges suggest the German government plans to sell its remaining $1.3 billion in BTC holdings. A “German Government (BKA)” wallet recently sold $900 million in Bitcoin, raising concerns that this selling pressure could lower BTC prices.

Six U.S. Firms Submit Updated Ethereum Spot ETF Applications and Announce Rates

Six U.S. firms—Fidelity, VanEck, Franklin Templeton, 21Shares, Grayscale, and BlackRock—submitted revised S-1 documents for Ethereum spot ETFs. VanEck will initially waive fees, Franklin Templeton set fees at 0.19%, and BlackRock, along with others, have yet to disclose their fees.

Judge Dismisses DMCA Claims by Coders Against Microsoft, OpenAI, and GitHub

California Northern District Judge Jon S. Tigar dismissed DMCA ( Digital Millennium Copyright Act ) class claims, according to Bloomberg Law and Law360. The dismissal resulted from the claimants' failure to prove identical code reproduction. The lawsuit accused OpenAI of using unauthorized GitHub coding snippets to train GitHub Copilot.

Tether CEO Endorses Localized AI Models to Prevent Hacks

Tether CEO Paolo Ardoino emphasized the importance of localized AI models for ensuring independence and privacy and preventing hacks, in response to OpenAI's recent security breach. Tether is expanding into AI and is "actively exploring" integrating locally executable models into its solutions, Ardoino stated.

Japanese Firm Metaplanet Acquires Additional $2.5M Worth of Bitcoin

On July 7, Metaplanet disclosed on X their acquisition of 42.466 bitcoins for 400 million Japanese yen ($2.5 million). This purchase increases their total bitcoin holdings to 203,734 BTC, acquired at an average price of about $62,000 each.

Under Trump, US Republicans Incorporate Crypto into Official Party Platform

A July 8 update on Donald Trump’s campaign website shows the Republican Party's draft policy now embraces crypto to “champion innovation” in the U.S. economy. It accuses Democrats of an "unlawful" crackdown on crypto and rejects the creation of a Central Bank Digital Currency (CBDC).

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