FameEX Morning Crypto News Recap | July 9, 2024

German Government Transfers Additional $900M in Bitcoin, Increasing BTC Selling Pressure

Repeated Bitcoin transfers to centralized exchanges indicate the German government intends to sell its remaining $1.3 billion in BTC holdings. A wallet labeled “German Government (BKA)” recently sold $900 million worth of Bitcoin, raising concerns that this selling pressure could drive BTC prices lower.

Six U.S. Companies Submit Revised Applications for Ethereum Spot ETFs, Announce Rates

Six U.S. firms, including Fidelity, VanEck, Franklin Templeton, 21Shares, Grayscale, and BlackRock, have submitted revised S-1 documents for Ethereum spot ETFs. VanEck plans to waive fees initially, while Franklin Templeton set a fee rate at 0.19%. BlackRock and some others have not yet disclosed their fees.

Judge Rejects Coders' DMCA Claims Against Microsoft, OpenAI, and GitHub

California Northern District Judge Jon S. Tigar dismissed class claims under the DMCA ( Digital Millennium Copyright Act ) , as reported by Bloomberg Law and Law360. The dismissal was based on the claimants' inability to demonstrate that their code was reproduced identically. The lawsuit alleged that OpenAI used coding snippets from GitHub without permission to train GitHub Copilot.

Tether CEO Supports Localized AI Models to Deter Hacking

Tether CEO Paolo Ardoino, responding to OpenAI's recent hack, advocated for localized AI models as crucial for ensuring independence, privacy, and preventing future hacks. Tether, expanding into AI, is "actively exploring" the integration of locally executable models into its AI solutions, according to Ardoino.

Japanese Company Metaplanet Purchases an Additional $2.5M in Bitcoin

On July 7, Metaplanet announced on X the purchase of 42.466 bitcoins for 400 million Japanese yen ($2.5 million). This latest acquisition brings their total holdings to 203,734 BTC, purchased at an average price of approximately $62,000 per coin.

US Republicans Add Crypto to Official Party Platform Under Trump

A July 8 update on Donald Trump’s campaign website revealed that the Republican Party’s draft policy now includes crypto to "champion innovation" in the U.S. economy. The platform criticizes Democrats for an "unlawful" crypto crackdown and opposes the creation of a Central Bank Digital Currency (CBDC).

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