FameEX Morning Crypto News Recap | August 3, 2023

Gamestop Decides to Shut Down Crypto Wallet Due to Regulatory Uncertainty; Urges Users to Safeguard Passphrase
Gamestop, a well-known video game retailer, will discontinue its iOS and Chrome Extension crypto wallets on November 1, 2023, due to regulatory uncertainty in the crypto industry. The decision comes as a response to the evolving regulatory landscape.

Bitcoin ETF Approval Chances Reach 65%: Analysts Attribute Influence to Blackrock
The probability of a spot bitcoin ETF launching in the U.S. has risen to 65%. Analysts believe this surge is driven by pressure from Blackrock and possibly Democrats, which could prompt the U.S. Securities and Exchange Commission to take action.

Japanese Yen Reaches 20-Year Low Against US Dollar; BOJ Maintains Loose Policy Amid Inflationary Pressures
Over the past month, the Japanese yen has depreciated by over 1% against the US dollar. On Tuesday, it reached its weakest level in more than 20 years as the Bank of Japan maintained its loose monetary policy, despite increasing inflationary pressures and a weakening currency.

White House and Yellen Condemn Fitch's US Rating Downgrade as 'Bizarre and Baseless'
Fitch Ratings downgrades the United States' debt rating, prompting criticism from Biden officials who deem it "bizarre and baseless." The White House and Treasury Secretary Janet Yellen strongly oppose the decision, arguing it is arbitrary and relies on outdated data.

Robinhood Achieves Profitability in Q2 Despite Declining Crypto Revenue
Robinhood's Q2 quarterly report reveals a decline in cryptocurrency revenue, down 18% to $31 million, along with decreases in options and equities revenue. Overall, the company's revenue has fallen by 4% over the past year, from $202 million to $193 million in June.

India Proposes Recommendations for G20 Crypto Roadmap
India's presidency note on August 1 outlines its proposals for a global crypto framework in line with guidelines from the FSB, FATF, and IMF. The document seeks input for a roadmap on cryptocurrency regulation at the international level.

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