FameEX Morning Crypto News Recap | September 20, 2024

U.S. Treasury Secretary Yellen Says Fed's Actions Signal Positive Economic Outlook

U.S. Treasury Secretary Janet Yellen stated that the Federal Reserve's recent actions signal a positive outlook for the U.S. economy. She highlighted that the labor market is stable and healthy, resembling conditions seen before the pandemic.

Traders Rush to Buy Bitcoin Ahead of Fed Rate Cut

On September 19, crypto analysis firm Kaiko reported that traders purchased a significant amount of Bitcoin ahead of the Federal Reserve's interest rate cut announcement. Following the Fed's 50 basis point rate reduction, the cumulative volume Delta, indicating net buying and selling, showed a positive $50 million, highlighting strong buying momentum.

Government Bitcoin Holdings Ranking: U.S. Leads, Germany Falls to Zero

On September 19, Arkham released updated government Bitcoin holdings rankings, revealing the U.S. leads with $12.16 billion. The top four countries are the U.S. ($12.16B), the U.K. ($3.67B), Bhutan ($782.46M), and El Salvador ($351.75M). Notably, Germany's holdings fell from $3.56 billion to zero, a significant change in the rankings.

Institutions Reduce Bitcoin Shorting as CME Futures Net Positions Drop by 75%

CryptoQuant founder Ki Young Ju revealed that institutions have significantly reduced shorting Bitcoin, as CME futures net positions dropped by 75% over the past five months. This shift suggests declining bearish sentiment among institutional investors.

OpenAI Secures $6.5 Billion in Funding, Reaching a $150 Billion Valuation

OpenAI is set to complete a $6.5 billion funding round, with the final list of investors determined by Friday. The round is highly oversubscribed, and some potential investors may not participate. Strategic investors like Microsoft, Nvidia, and Apple are expected to join, giving OpenAI a $150 billion valuation. Thrive Capital will lead the round with a $1.25 billion contribution.

EU Warns Apple to Open iPhone Operating System or Face Hefty Fine

The European Union has warned Apple to open its iPhone operating system to competitors, making it compatible with other technologies. Failure to comply could result in a formal investigation and a potential fine of up to 10% of Apple's global annual revenue. This move aims to increase competition and interoperability within the tech industry.

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