FameEX Morning Crypto News Recap | August 26, 2024

Fed Chairman Powell Hints at Potential Rate Cut During Jackson Hole Meeting

Fed Chairman Powell signaled a likely interest rate cut at the Jackson Hole meeting, with a September reduction almost certain. He highlighted rising downside risks to employment and stated that it's time for policy adjustments. Powell emphasized the Fed's commitment to supporting the labor market.

MicroStrategy Founder Claims Bitcoin Outperforms Every S&P 500 Company

On August 25, MicroStrategy founder Michael Saylor announced on social media that Bitcoin has outperformed every S&P 500 company over the past four years.

Vitalik Expresses Concern Over Telegram Founder’s Arrest: Questions Future of Software and Communication Freedom in Europe

Vitalik Buterin commented on X regarding the arrest of Telegram's founder, expressing concern over the charges, which he noted seem to be related to "unrestrained" actions without compromising user data. He warned that this development poses serious concerns for the future of software and communication freedom in Europe.

Microsoft Invests $1.5 Billion in UAE AI Firm G42

Microsoft's $1.5 billion investment in UAE AI company G42 is part of a strategic plan to access vast data, capitalize on a strong market, and benefit from relaxed regulations. This move aligns with Microsoft's and OpenAI's efforts to strengthen AI leadership and expand their global presence. Industry observers view it as a key step in consolidating their influence.

Thai Authorities Crack Down on Illegal Bitcoin Mining Operation in Bangkok

Thai authorities raided an illegal Bitcoin mining site in Ratchaburi, near Bangkok, following complaints of frequent power outages. The raid, conducted by police and Provincial Electricity Authority officials, revealed that most mining equipment had already been relocated, suggesting the operation had been partially dismantled before the authorities arrived.

Asian Stocks Poised to Climb Following Fed Chairman's Speech

Asian stocks were expected to rise on Monday following positive signals from the Federal Reserve chairman, with markets anticipating policy easing starting in September. Powell's comments boosted investor confidence, while gold surged 1.3% to near a record high and remained stable in early trading on Monday.

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