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FameEX Morning Crypto News Recap | October 17, 2023
2023-10-17 12:19:00
in Soars Amid False BlackRock ETF Approval Reports: Crypto Markets Affected by Misinformation Wave
Cryptocurrency news outlet Cointelegraph erroneously reported on Monday that the U.S. Securities and Exchange Commission (SEC) had approved BlackRock's iShares spot bitcoin exchange-traded fund (ETF). This unverified news caused a rapid surge of over 10% in BTC's value against the U.S. dollar. However, neither the SEC nor BlackRock had officially confirmed the approval at the time.
BlackRock Provides Clarification on Bitcoin ETF Speculation, Urges Caution in Market Reaction BlackRock, the world's largest asset manager, has dismissed rumors suggesting that its highly anticipated Bitcoin Exchange-Traded Fund (ETF) has obtained approval from the U.S. Securities and Exchange Commission (SEC). The clarification comes amidst market speculation about the status of BlackRock's ETF, emphasizing that it has not yet received official approval from the regulatory body. Yellen Asserts Feasibility of Supporting Two Wars Despite U.S. Debt Surge U.S. Treasury Secretary Janet Yellen, amid a substantial increase in national debt and significant financial support to Ukraine, reassured on Monday that the United States is financially capable of sustaining two wars. This statement followed the accumulation of a substantial debt burden and a commitment of over $75 billion to Ukraine. SEC Chair Gary Gensler Cautions of Inevitable AI-Driven Financial Crisis Gary Gensler, Chair of the United States Securities and Exchange Commission (SEC), has expressed concerns about an impending financial crisis resulting from widespread artificial intelligence usage. Gensler warned of the crisis's likelihood in an interview with the Financial Times, suggesting it could occur within a decade if no intervention takes place. He emphasized the need for measures to address this growing AI-driven risk. Australia Explores the Concept of CBDC as the Future of Currency During a speech titled "A Tokenised Future for the Australian Financial System," Brad Jones, assistant governor (financial system) of the RBA, discussed the possibilities and obstacles related to asset and money tokenization in the digital era. He also outlined plans to explore the use of Central Bank Digital Currencies (CBDCs) as a form of currency in Australia's financial system. NYC Mayor Unveils Blueprint for Ethical AI Implementation in Local Government The administration of New York City Mayor Eric Adams has introduced a plan outlining a framework for government agencies to incorporate and regulate artificial intelligence (AI) in local governance. Additionally, the city launched its inaugural AI chatbot as part of this initiative, aiming to enhance AI integration into various city applications. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
