FameEX Morning Crypto News Recap | January 11, 2024

Widespread Endorsements: SEC Approves 11 Spot Bitcoin ETFs

The U.S. Securities and Exchange Commission (SEC) has approved 11 spot bitcoin ETFs for listing on U.S. exchanges, overcoming long-standing regulatory challenges. These ETFs are set to commence trading on NYSE Arca, Nasdaq, and Cboe BZX Exchange from Thursday, marking a milestone in the integration of bitcoin into mainstream financial markets.

SEC Head Gary Gensler Clarifies Approval of Spot Bitcoin ETF Doesn't Equate to BTC Support

As the U.S. Securities and Exchange Commission (SEC) approves spot bitcoin ETFs, Chairman Gary Gensler clarifies that this action doesn't equate to an endorsement of bitcoin itself. He maintains that most crypto assets are securities and cautions investors about the various risks linked to bitcoin and related financial products, highlighting the need for careful consideration in the crypto space.

Ex-SEC Official Criticizes Spot Bitcoin ETFs as Pathway to 'Financial Disaster'

John Reed Stark, ex-chief of internet enforcement at the U.S. Securities and Exchange Commission, has issued a stern warning against investing in spot bitcoin ETFs. Stark criticized the applicants behind these funds as an exploitative group of wealthy financial giants, creating products that expose investors to extreme financial risk and ruin, solely for profit and personal gain.

Michigan University to Allow AI to Join Classes, Select Major, and Obtain Degree

Ferris State University in Michigan is planning to admit two artificial intelligence (AI) students to its classes this year. This unique experiment aims to gain insights into how AI interacts with a university curriculum. Rather than participating directly, the AI systems will observe classes through audio and video feeds.

Phoenix Secures $187 Million Worth of Bitcoin Mining Equipment

On January 9, 2023, Phoenix Computer Equipment, a Phoenix Group subsidiary, revealed on the Abu Dhabi Securities Exchange (ADX) that it has completed an agreement via Cypher Capital DMCC. This deal, with Bitmain Development PTI Ltd, is for acquiring the latest bitcoin mining machines, indicating Phoenix's strategic move into the cryptocurrency mining technology sector.

X (Formerly Twitter) Eliminates NFT Profile Pictures from Its Support Page

On January 20, 2022, Twitter introduced NFT profile pictures, featuring a unique verification system for paid subscribers. Users employing NFTs as their profile images were distinguished by a special hexagonal border around their avatars. However, as of the latest update, NFTs have been removed from X’s (formerly Twitter) premium support page, marking a shift in the platform's features.

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