FameEX Morning Crypto News Recap | May 19, 2023

US Bitcoin Corp Finalizes Hosting Agreements for 150,000 Bitcoin Miners
US Bitcoin Corp has secured hosting agreements with five companies to install 150,000 ASIC bitcoin miners. The mining machines will be placed in data centers in Texas and Nebraska, specifically at U.S. Bitcoin Corp's Charlie, Delta, and Echo locations. The successful agreements mark a significant step forward for the company in expanding its bitcoin mining operations.

Impact of Rate Hikes on Housing Markets: Findings from ECB Study on Eurozone and United States
The European Central Bank (ECB) disclosed that interest rate increases in the euro area have led to a decrease in housing investment, although the impact is currently less pronounced than in the United States. However, the ECB anticipates that the effects of tighter monetary policy on the housing market in Europe will likely intensify in the future.

Pakistan Set to Prohibit Online Services Associated with Cryptocurrencies
The Pakistani government plans to ban all internet-based cryptocurrency services, despite substantial investments in digital assets by its citizens. This decision reflects the strong opposition of government officials in Islamabad towards the legalization of cryptocurrencies such as Bitcoin.

Investors Turn to Cash as Recession Concerns Rise, Survey by BOFA Shows
A recent survey by Bank of America indicates that investors, facing growing pessimism, have opted to shift their investments into cash. The survey reveals a significant 5.6% rise in cash reserves in May, as investors express concerns about a potential credit crunch and an impending recession.

Hong Kong Collaborates with 16 Companies to Develop Central Bank Digital Currencies (CBDCs)
The Hong Kong Monetary Authority (HKMA) has introduced the cyber Hong Kong dollar pilot project, involving 16 companies from the financial, payment, and technology sectors. These companies, including Alipay Financial, Mastercard Asia, Ripple Labs, Visa, and HSBC, will conduct feasibility trials this year for a Hong Kong dollar central bank digital currency (e-HKD).

Singaporean Family Office to Establish Digital Bank in Bahrain
The Whampoa Group, a Singaporean family office, plans to launch a digital bank in Bahrain, as announced by the kingdom's Economic Development Board. The Group targets a global clientele and aims to have the bank operational by the end of the year.

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