FameEX Morning Crypto News Recap | August 29, 2024

California passes bill mandating AI companies to disclose data practices

The California Legislature passed a bill on August 27 requiring AI companies to increase transparency about the data used to train their models. The bill now awaits approval from Governor Gavin Newsom, who has yet to comment on it.

ING: Euro less stable than US dollar, ECB more likely to cut interest rates

ING highlights the euro's relative instability compared to the US dollar due to greater expectations of interest rate cuts by the European Central Bank (ECB). Analyst Francesco Pesole noted that while the market anticipates a 50 basis point cut by the Federal Reserve by year-end, it expects the ECB to reduce rates by 64 basis points in its final three meetings of 2024.

BlackRock Launches Ethereum ETF in Brazil, Halves Management Fees for First Year

BlackRock has launched its Ethereum ETF on Brazil's B3 exchange on August 28, under the ticker ETHA39. The iShares Ethereum Trust (ETHA) is available to both retail and institutional investors. The ETF carries a management fee of 0.25% annually, which will be halved to 0.12% in the first year or until assets under management reach $2.5 billion.

HKMA Unveils Ensemble Sandbox to Explore Four Key Tokenized Asset Use Cases

The Hong Kong Monetary Authority (HKMA) launched the Ensemble project sandbox, focusing on four major tokenized asset use cases. The first phase aims to facilitate interbank settlement using experimental tokenized currencies and explore tokenized asset trading. The sandbox is designed to test and develop these technologies within a controlled environment.

Nvidia's Q2 FY 2024 Revenue Surpasses Market Expectations, Reaches $30 Billion

On August 29, Nvidia reported Q2 FY 2024 revenue of $30 billion, significantly higher than the $13.507 billion from the same period last year and exceeding the market expectation of $28.61 billion. Data center revenue reached $26.3 billion, surpassing the forecast of $25.08 billion.

OpenAI in Funding Discussions with Valuation Exceeding $100 Billion

On August 29, the Wall Street Journal reported that OpenAI is engaged in financing negotiations, with the company valued at over $100 billion.

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