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FameEX Morning Crypto News Recap | December 11, 2023
2023-12-11 12:19:40
Novogratz Challenges JPMorgan CEO Jamie Dimon's Bitcoin Views as 'Supreme Arrogance'
Galaxy Digital CEO Mike Novogratz challenges JPMorgan CEO Jamie Dimon's Bitcoin skepticism, citing influential backers like Fidelity Investments CEO Abigail Johnson, investor Stanley Druckenmiller, and Bridgewater Associates founder Ray Dalio. Novogratz contends that Dimon's doubts have been contradicted by the cryptocurrency's support from prominent individuals, including some of Dimon's clients and wealthy Americans.
SEC Issues Warning About the Elevated Risks of Crypto Investments The U.S. Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy has reaffirmed its warnings about investing in cryptocurrency assets through a social media post on X. The SEC emphasized the high risks and volatility associated with investments in crypto asset securities. China and Singapore Partner to Facilitate Tourist Use of Digital Yuan Singapore and China have initiated a pilot program allowing tourists from both nations to utilize China's central bank digital currency, the digital yuan, for their transactions. The collaborative effort seeks to enhance convenience for travelers during their overseas journeys, as stated by Singapore's central bank. Russian President Putin: Western Financial System Declining, Major Western Banks to Lose Monopoly Russian President Vladimir Putin has commented on the decline of the Western financial system, emphasizing its obsolescence. He has also highlighted the potential of blockchain technology and central bank digital currencies (CBDCs) to bring about revolutionary changes that could challenge the dominance of major Western banks. Survey Reveals 47% of Nigerians Engage in Crypto-Related Activities A recent study reveals that 47% of Nigerians are actively involved in cryptocurrency trading, signifying an increasing adoption of cryptocurrencies in their financial practices. The research also notes a 15% surge in crypto ownership in Nigeria between 2020 and 2023, reflecting the growing prominence of cryptocurrencies within the nation's financial sector. EU Officials Announce 'Historic' Agreement on AI Regulation EU officials have achieved a historic provisional deal on regulating artificial intelligence (AI). The agreement covers the government's use of AI in biometric surveillance, the regulation of AI systems like ChatGPT, and transparency rules for market entry. This includes specifications for technical documentation, adherence to EU copyright regulations, and the sharing of training content summaries. Fidelity Meets with SEC to Deliberate on Bitcoin ETF Application The United States Securities and Exchange Commission (SEC) recently held discussions with Fidelity Investments to gain further insights into its application for a spot Bitcoin exchange-traded fund (ETF). The meeting between the SEC and Fidelity revolved around Fidelity's Wise Origin Bitcoin Trust application and included an examination of diagrams and the operational aspects of the proposed product. Microsoft Faces UK Antitrust Probe Over OpenAI Deal Structure The UK's antitrust regulator is considering initiating a merger investigation into Microsoft's significant partnership with OpenAI, which entails a substantial investment. In response, Microsoft has argued that it serves merely as a non-voting observer on OpenAI's board, raising doubts about the necessity of a merger investigation. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
