FameEX Morning Crypto News Recap | May 21, 2024

Exploring the Market Effects of US Regulators Approving an Ethereum ETF

Industry observers concur that U.S. regulator approval of a spot Ethereum ETF would benefit the asset. However, if disapproved, the market impact would likely be minimal due to currently low expectations for approval from the U.S. Securities and Exchange Commission (SEC).

Fed's Mester: Interest Rates Could Be Cut with Economic Downturn, Adjusted Upward if Inflation Declines or Stabilizes

Fed’s Mester stated that if the economy worsens unexpectedly, a reduction in interest rates might be considered. However, if inflation's decline halts or reverses, there could be a case for maintaining or even increasing interest rates.

European Stocks Near Record Highs Driven by Earnings Growth and Anticipation of Rate Cuts

European stocks are close to hitting record highs, driven by positive earnings growth and potential rate cuts. The Stoxx 600 index rose by 0.2%, hitting an all-time high last week. Basic resource stocks surged due to soaring gold and copper prices, while technology stocks saw gains. However, auto stocks did not perform as well.

U.S. House to Vote on FIT21 Bill, Which Could Alter Crypto Market Structure

The U.S. House of Representatives is scheduled to vote on May 22 on the 21st Century Financial Innovation and Technology Act (FIT21 Act), a significant cryptocurrency market structure bill. It passed the House Agriculture and Financial Services Committee last summer and was approved by the Rules Committee this month for the vote.

Grayscale Could Be Acquired by a Competitor or Global Asset Manager

Industry insider @AP Abacus revealed on the X platform that Grayscale is expected to be acquired by a global asset management company or competitor. This speculation is largely due to the new CEO, Peter Mintzberg, known for his M&A successes at Goldman Sachs and BlackRock.

Brazil's Central Bank Sets Staged Cryptocurrency Regulation Plan, Targeting Completion by Late 2024

The Central Bank of Brazil has revealed a plan to introduce cryptocurrency regulations in stages, aiming to finalize the regulatory framework by the end of 2024.

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