FameEX Morning Crypto News Recap | May 28, 2024

Kaiko Research Indicates Spot Ethereum ETF Approval Positively Affects Ethereum's Long-Term Growth

Kaiko's research highlights that the approval of the spot Ethereum ETF removes regulatory uncertainty and positively influences Ethereum's long-term growth. While short-term resistance may occur, the approval suggests the SEC views Ethereum more as a commodity than a security, providing a clearer regulatory environment.

Global Bitcoin ETFs Hold Over 1 Million Bitcoins, U.S. Funds Dominate

Global Bitcoin exchange-traded funds (ETFs) now collectively hold over 1 million Bitcoins, distributed across the U.S., Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia. Leading the pack, U.S. ETFs hold significant portions, with Grayscale GBTC at about 292,000 BTC, BlackRock IBIT at about 280,000 BTC, and Fidelity FBTC at 162,000 BTC, totaling approximately 734,000 BTC.

Nomura Securities and GMO Internet Collaborate to Launch USD and JPY Stablecoins in Japan

Nomura Securities, through its digital asset subsidiary Laser Digital, is collaborating with GMO Internet, parent of stablecoin issuer GMO-Z, to explore issuing US dollar and Japanese yen stablecoins in Japan. They aim to provide stablecoin-as-a-service solutions in the Japanese market, enhancing digital asset accessibility and utility.

Gold Prices Face Pressure Amid Hawkish Remarks from Fed Officials

Gold prices are declining due to tough remarks from Federal Reserve officials and positive U.S. economic data, according to UBS analyst Giovanni Staunovo. As expectations for a Fed rate cut are delayed, investors are now focusing on the upcoming release of the personal consumption expenditure price index on Friday, a key inflation indicator watched by the Federal Reserve.

Former US President Trump Holds Over $10 Million in Crypto Assets

Former US President Donald Trump's cryptocurrency holdings are valued at $10,302,518.35. His assets include 579,290 TRUMP tokens valued at $7.5 million, 463.35 Ethereum (ETH) worth $1.81 million, and 374.69 Wrapped Ethereum (WETH) valued at $1.17 million.

ECB Board Member Rehn Announces Rate Cuts Starting in June

ECB board member Rehn stated that with inflation approaching their 2% target sustainably, it's appropriate to ease monetary policy. He announced that interest rate cuts would commence in June, signaling a shift towards a more relaxed fiscal approach.

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