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FameEX Morning Crypto News Recap | December 11, 2023
2023-12-11 12:19:40
Novogratz Criticizes JPMorgan CEO Jamie Dimon's Bitcoin Stance as 'Supreme Arrogance'
Galaxy Digital CEO Mike Novogratz asserts that JPMorgan CEO Jamie Dimon's skepticism about Bitcoin has been disproven. Novogratz highlighted the support for Bitcoin from influential individuals, including Fidelity Investments CEO Abigail Johnson, investor Stanley Druckenmiller, and Bridgewater Associates founder Ray Dalio, as evidence that even Dimon's own clients and wealthy Americans believe in the cryptocurrency.
SEC Cautions on the High Risks Associated with Crypto Investments The U.S. Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy restated its concerns regarding investing in cryptocurrency assets via social media platform X. In a Friday post, the SEC emphasized the exceptionally risky and volatile nature of investments in crypto asset securities. China and Singapore Collaborate to Enable Tourists to Use Digital Yuan Singapore and China have joined forces in a pilot program to enable tourists from both countries to use China's central bank digital currency, the digital yuan, for their transactions. The initiative aims to enhance convenience for travelers during their overseas trips, according to Singapore's central bank. Russian President Putin: Western Financial System in Decline, Major Western Banks Will Lose Their Monopoly Russian President Vladimir Putin has commented on the decline of the Western financial system, emphasizing that it is becoming outdated. He also highlighted the potential of blockchain technology and central bank digital currencies (CBDCs) to bring about revolutionary changes that could challenge the monopoly of major Western banks. Nearly Half of Nigerians Participate in Crypto-Related Activities, Reveals Survey According to a recent study, 47% of Nigerians are actively participating in cryptocurrency trading, indicating a growing integration of cryptocurrencies into their financial activities. The research also highlights a 15% increase in crypto ownership in Nigeria between 2020 and 2023, underscoring the rising popularity of cryptocurrencies in the country's financial landscape. EU Authorities Achieve 'Landmark' Agreement on AI Regulations EU authorities have reached a landmark provisional agreement on AI regulations. This agreement addresses the governmental application of AI in biometric surveillance, the regulation of AI systems like ChatGPT, and the transparency guidelines for market entry. It encompasses requirements related to technical documentation, compliance with European Union copyright rules, and the sharing of training content summaries. Fidelity Holds Meeting with SEC to Discuss Application for Bitcoin ETF The United States Securities and Exchange Commission (SEC) recently met with Fidelity Investments to seek additional clarity on its spot Bitcoin exchange-traded fund (ETF) application. The United States SEC and Fidelity met to discuss Fidelity’s Wise Origin Bitcoin Trust application, reviewing diagrams and the operational functionality of the product. Microsoft Undergoes UK Antitrust Investigation Regarding OpenAI Deal Structure The United Kingdom's antitrust regulator is contemplating launching a merger investigation into Microsoft's extensive partnership with OpenAI, which involves a multibillion-dollar investment. Microsoft has responded by asserting that it holds a non-voting observer role on OpenAI's board, thereby challenging the need for a merger investigation. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
