FameEX Morning Crypto News Recap | March 21, 2024

SEC Aims to Classify Ether as a Security

The United States Securities and Exchange Commission (SEC) is probing companies with subpoenas, focusing on their efforts to classify Ether as a security. These subpoenas demand documents and financial records linked to their transactions with the Ethereum Foundation, indicating a regulatory scrutiny on cryptocurrency practices.

Countries Vie for Supremacy Amid Growing Shortage of AI Experts

As the quest for AI supremacy escalates globally, governments and tech companies are fixated on developing and deploying advanced AI models. This competitive landscape has led to companies considering relocation and countries rolling out incentives to attract scarce AI talent, highlighting the strategic importance of AI expertise in achieving technological leadership.

Sweden's Central Bank Probes Challenges of Offline CBDC Transactions

The Riksbank, Sweden's central bank, concluded its digital krona pilot with a report highlighting user experiences and offline capabilities, yielding mixed outcomes. It explored a system incorporating payment cards and shadow wallets to enable transactions. However, despite these innovations, the project still faces unresolved issues in security and accounting, indicating challenges ahead for digital currency implementation.

Elon Musk's Initial Brain Chip Recipient Controls Online Chess Game Using Thoughts

Neuralink, founded by Elon Musk, revealed its brain implant technology through a live-stream, demonstrating a quadriplegic individual playing computer games solely with his mind. The patient, first to receive the Neuralink implant, equated the sensation to "using the force" for computer manipulation, showcasing a groundbreaking advancement in brain-computer interfaces.

Fed Chair Powell: Balancing Risks Towards Employment and Inflation Objectives Improves

Federal Reserve Chairman Jerome Powell noted an improvement in balancing the risks towards meeting employment and inflation targets, attributing this progress to the relaxation of tight supply and demand in the labor market. Although inflation has notably decreased over the past year, it still exceeds the Fed's 2% long-term goal, with long-term inflation expectations continuing to be uncertain.

JPMorgan Alerts Investors to Leverage and Recession Dangers

JPMorgan Chase warns investors to tread carefully as the market and analysts' forecasts have yet to account for leverage and recession risks. According to Eduardo Lecubarri and his team, aggressive rate hikes by UK and European Central Banks, high corporate leverage, and narrow credit spreads highlight a concerning oversight of risk, with investors seemingly overlooking potential dangers.

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