FameEX Morning Crypto News Recap | August 28, 2024

Citi: Skepticism Over U.S. Economic Trends May Result in Disappointing ETF Flows

On August 27, Citibank reported that the cryptocurrency market has faced challenges since the U.S. launch of spot Ethereum (ETH) ETF trading on July 23. Citigroup indicated that ETF flows might remain disappointing unless there is more clarity on whether the U.S. economy will undergo a "soft" or "hard" landing.

CME Group Plans to Introduce Bitcoin Friday Futures in 2024

CME will introduce Bitcoin Friday futures (BFF) on September 30, 2024, with each contract representing 1/50 of a Bitcoin. These contracts will expire weekly on Fridays at 4:00 PM, settling to the New York variant of the CME CF Bitcoin Reference Price, closely reflecting Bitcoin's spot price.

OpenAI Recruiting Internal Risk Technology Investigators to Tackle Security Threats

OpenAI has posted a job opening for an internal risk technical investigator to bolster defenses against internal security threats. The position involves analyzing unusual activities, detecting and mitigating risks, and working closely with HR and legal teams to investigate suspicious behavior.

New Zealand Tax Minister Introduces Legislation to Enforce OECD Crypto-Asset Information Exchange Framework

New Zealand’s Tax Minister proposed legislation to implement the OECD’s crypto asset information exchange framework, effective April 2026. By 2027, crypto service providers must collect and submit transaction data to the tax office, facing $300 fines per violation and $1,000 fines if users fail to provide required information.

Number of Crypto Millionaires Worldwide Jumps 95% to 172,300

Global crypto millionaires have increased by 95% over the past year, now totaling 172,300, according to a report by New World Wealth and Henley & Partners. This growth is driven by the rise of Bitcoin exchange-traded funds and other crypto assets, up from 88,200 millionaires last year.

BTC Declined 8.68% and ETH Tumbled 26.19% After Harris Announced Candidacy

Bitwise Chief Investment Officer Matt Hougan noted that following Harris's announcement to replace Biden as the next U.S. president, BTC declined by 8.68%, and ETH plummeted by 26.19%.

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