FameEX Morning Crypto News Recap | February 7, 2024

Grayscale Cuts Back on Bitcoin Assets Amid Rising Reserves of Rival ETFs

Grayscale’s Bitcoin Trust sold around 5,992.38 bitcoin, worth approximately $257 million, over two days of trading. Meanwhile, Blackrock’s IBIT and Fidelity’s FBTC increased their holdings, acquiring 3,235.87 and 2,732.75 bitcoin respectively, indicating a shift in bitcoin asset distribution among leading financial institutions.

MicroStrategy Acquires $37M Worth of Bitcoin, Total Holdings Reach 190,000 BTC

In January, MicroStrategy, the top public Bitcoin investor, added 850 BTC to its portfolio, reaching 190,000 BTC valued at $8.1 billion. During the Q4 2023 earnings call on February 6, CFO Andrew Kang revealed the acquisition of 56,650 BTC in 2023 at an average price of $33,580.

SEC's Proposed 'Dealer' Redefinition to Extend Regulatory Reach over Crypto and DeFi

On February 6, the United States Securities and Exchange Commission implemented new rules mandating additional market participants to register, affiliate with a self-regulatory body, and adhere to federal securities laws. This move is set to enhance regulatory oversight over cryptocurrency and decentralized finance sectors.

US Treasury Secretary Advocates for Creation of Federal Body to Supervise Stablecoins

During a House Financial Services Committee hearing, United States Treasury Secretary Janet Yellen emphasized the need for a unified regulatory framework for stablecoins across all U.S. states. She urged Congress to close regulatory gaps in digital asset oversight, highlighting potential risks to investors and the financial system.

Advancements in Nuclear Fusion May Transform Artificial Intelligence Landscape

A significant physics breakthrough, now officially peer-reviewed, offers a proof-of-concept for nuclear fusion reactors designed to generate nearly unlimited energy. This development could pave the way for a future free from carbon-based energy reliance, significantly benefiting sectors like artificial intelligence (AI) and quantum computing by providing them with a supercharged energy source.

Grayscale Chief Calls on Regulators to Greenlight Options Trading for Spot Bitcoin ETFs

On February 5th, Grayscale CEO Michael Sonnenshein posted on X, urging regulators to allow exchange-listed options for spot Bitcoin ETFs. He highlighted the benefits for investors, noting that options facilitate price discovery and assist in navigating market conditions more effectively, enabling strategies like income generation.

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