FameEX Morning Crypto News Recap | February 7, 2024

Grayscale Trims Bitcoin Portfolio as Competitor ETFs Expand Their Holdings

Over two trading days, Grayscale's Bitcoin Trust divested itself of nearly 5,992.38 bitcoin, valued at about $257 million. Concurrently, Blackrock's IBIT and Fidelity's FBTC bolstered their bitcoin reserves, adding 3,235.87 and 2,732.75 bitcoin respectively, highlighting a notable reallocation of bitcoin assets among premier financial entities.

MicroStrategy Purchases Bitcoin Valued at $37M, Elevating Total Assets to 190,000 BTC

MicroStrategy, leading in public Bitcoin holdings, increased its stash by 850 BTC in January, totaling 190,000 BTC worth $8.1 billion. In the Q4 2023 earnings call, CFO Andrew Kang announced the company acquired 56,650 BTC throughout 2023, with purchases averaging $33,580 each.

SEC Aims to Broaden Regulatory Scope in Crypto and DeFi with 'Dealer' Redefinition

The U.S. Securities and Exchange Commission enacted regulations on February 6, demanding that further market entities must register, align with a self-regulatory organization, and follow federal securities statutes. This initiative is designed to intensify the regulatory supervision of the cryptocurrency and decentralized finance arenas.

US Treasury Secretary Proposes Establishing Federal Authority for Stablecoin Oversight

In a House Financial Services Committee hearing, U.S. Treasury Secretary Janet Yellen stressed the importance of establishing a comprehensive regulatory structure for stablecoins throughout the U.S. and called on Congress to address the oversight deficiencies in digital asset regulation to protect investors and the financial ecosystem.

Breakthroughs in Nuclear Fusion Poised to Redefine the Future of Artificial Intelligence

The recent peer-reviewed physics advancement provides a foundational concept for nuclear fusion reactors, which could produce boundless energy. This innovation holds the potential to eradicate dependency on fossil fuels and greatly empower industries such as artificial intelligence (AI) and quantum computing, by furnishing them with an enhanced and inexhaustible energy resource.

Grayscale's Head Advocates for Regulatory Approval of Options Trading on Spot Bitcoin ETFs

Grayscale CEO Michael Sonnenshein, in a February 5th X post, pressed regulators to sanction exchange-listed options for spot Bitcoin ETFs, emphasizing their investor benefits. He pointed out that options enhance price discovery and offer improved market navigation, allowing for tactics such as generating income, thus advocating for more versatile investment tools in the cryptocurrency space.

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