FameEX Morning Crypto News Recap | February 22, 2024

Nvidia's Fourth-Quarter Net Earnings Surpass Expectations, Leading to a Broad Recovery in AI Concept Tokens

On February 22nd, Nvidia's financial results revealed a Q4 net profit of $12.285 billion, surpassing the anticipated $10.34 billion by the market. This outperformance has led to a significant rebound in AI concept tokens, indicating a positive market response to Nvidia's earnings report.

Crypto Firm in Texas Challenges SEC, Disputing Authority on Digital Asset Regulation

On February 22, Reuters disclosed that Texas-based Lejilex and the Crypto Freedom Alliance of Texas (CFAT) are suing the US Securities and Exchange Commission (SEC). They allege the SEC has overstepped its legal bounds in digital asset regulation, seeking a court decision to declare that digital assets traded on exchanges are not securities.

Hong Kong Financial Secretary Paul Chan Mo-po: To Expedite Submission of Draft Legislation on Virtual Asset OTC Trading Licensing to Legislative Council

On February 21st, Hong Kong's Financial Secretary, Paul Chan Mo-po, in a written response, highlighted that the Securities and Futures Commission enhanced disclosure on virtual asset trading platforms since last September. This included publishing a "suspicious virtual asset trading platform list" for public transparency. By February 14th, 14 platforms were identified, promoting clear and immediate information dissemination.

Meeting Minutes from the Federal Reserve: Peak of Current Cycle Possibly Reached by Policy Rates, with Many Officials Highlighting the Risks of Rapid Rate Cuts

Planet Daily reports that Federal Reserve meeting minutes reveal officials believe demand could be stronger than anticipated, suggesting policy interest rates might have hit this cycle's peak. The majority expressed concerns about the dangers of rapidly reducing interest rates. Additionally, there's worry among some officials that advancements in controlling inflation could potentially come to a halt.

Andrew Yang Alongside 300 Global Experts Calls for Government Measures Against AI Deepfakes

More than 300 global experts specializing in technology, artificial intelligence (AI), digital ethics, and child safety have united to sign an open letter. They are calling on governments worldwide to take "immediate action" against the proliferation of deepfakes, highlighting the urgent need for regulatory measures to address this growing digital threat.

ECB Announces Digital Euro CBDC Primarily Designed for Payments, Not for Investment Purposes

In a February 19 blog post, the ECB announced the digital euro CBDC is intended for payments rather than investments, featuring no interest and exclusivity from business holdings. Designed to minimize intermediation risks and bank deposit outflows, its structure includes restrictions and a "reverse waterfall" mechanism to deter investment usage.

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