FameEX Morning Crypto News Recap | April 19, 2024

Gary Gensler's Social Media Update Triggers Rumors of SEC Chair's Possible Resignation

Gary Gensler's recent social media post stating "it’s been an honor to serve" as SEC Chair ignited rumors of his resignation within the crypto community. His enforcement-centric regulatory stance on cryptocurrency has drawn criticism from various groups, including lawmakers. This controversy continues to stir debates about the future direction of cryptocurrency regulation under his tenure.

Bitcoin Halving: Goldman Sachs Dismisses Significance of 'Buy the Rumor, Sell the News' Effect

Goldman Sachs analysts believe the upcoming Bitcoin halving, potentially viewed as a "buy the rumor, sell the news" event, may minimally impact Bitcoin's medium-term outlook. They highlight that Bitcoin's price trends will likely remain influenced by supply-demand dynamics and steady demand for spot Bitcoin exchange-traded funds (ETFs).

World Gold Council Considers Gold Underowned, Anticipates Sustained Rally

The World Gold Council forecasts a sustained increase in gold prices, influenced by geopolitical risks, ongoing central bank acquisitions, and rising demand for coins and jewelry. They also expect that gold ETFs will contribute to future price surges, citing the metal’s currently low ownership levels.

Meta Unveils New Large Language Model, Challenging GPT and Claude

On April 18, Meta unveiled its new AI, Llama-3, touting it as the "most capable" and "best open source model" available. Analysts, having anticipated its release, observed that Llama-3's previews showed enhanced reasoning and performance over competitors like OpenAI's GPT and Google's Gemini, signaling a major step forward in the large language model field.

Former Disney Head Establishes Web3 Gaming Publisher with Marvel and Star Wars Creatives

A coalition of Hollywood and gaming veterans has established a AAA Web3 game publisher in the UAE. Their debut game, PlanetQuest, has attracted over 200,000 NFT holders. The team includes former professionals from major industry players such as Disney, Warner Bros., Activision-Blizzard, and Epic.

Canada to Implement International Standards for Cryptocurrency Tax Reporting

Canada is set to implement the OECD's Crypto-Asset Reporting Framework (CARF) by 2026, a year earlier than the agreed 2027 deadline with 46 other countries. This early adoption, highlighted in the 2024 budget supplement, aims to align Canada with global standards for cryptocurrency tax reporting, which will be adopted by 47 countries by 2027.

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