FameEX Morning Crypto News Recap | May 19, 2023

US Bitcoin Corp Secures Hosting Contracts for 150,000 Bitcoin Mining Machines
US Bitcoin Corp has partnered with five companies to install 150,000 ASIC bitcoin miners in data centers located in Texas and Nebraska. The hosting agreements, established at US Bitcoin Corp's Charlie, Delta, and Echo locations, represent a substantial advancement in the company's expansion of bitcoin mining operations.

"ECB Study Reveals Rate Hikes' Impact on Housing Markets in Eurozone and United States
According to a recent disclosure by the European Central Bank (ECB), rising interest rates in the euro area have resulted in a decline in housing investment, albeit with a lesser impact compared to the United States. Nevertheless, the ECB foresees that the tightening monetary policy's effects on the European housing market will likely strengthen in the coming times.

Pakistan Implements Ban on Online Services Linked to Cryptocurrencies
The Pakistani government is preparing to prohibit all cryptocurrency services conducted online, disregarding the significant investments made by Pakistani citizens in digital assets. This decision underscores the firm opposition of government officials in Islamabad to the legalization of cryptocurrencies like Bitcoin.

BOFA Survey Reveals: Rising Recession Concerns Prompt Investors to Shift Towards Cash
According to a recent survey conducted by Bank of America, investors are choosing to shift their investments into cash due to increasing pessimism. The survey highlights a noteworthy 5.6% increase in cash reserves during May, as investors express apprehensions about a possible credit crunch and an upcoming recession.

Hong Kong Teams Up with 16 Companies to Pioneer Central Bank Digital Currencies (CBDCs)
The Hong Kong Monetary Authority (HKMA) has initiated the cyber Hong Kong dollar pilot project, enlisting the collaboration of 16 companies from the financial, payment, and technology sectors. Key participants such as Alipay Financial, Mastercard Asia, Ripple Labs, Visa, and HSBC will conduct feasibility trials in 2023 for the development of a central bank digital currency (CBDC) denominated in Hong Kong dollars, known as e-HKD.

Singaporean Family Office Expanding into Bahrain with Digital Bank Venture
The Whampoa Group, a Singaporean family office, has unveiled its plan to establish a digital bank in Bahrain, according to the country's Economic Development Board. With a vision to serve a diverse international customer base, the Group aims to have the bank fully operational by the end of this year.

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