FameEX Morning Crypto News Recap | October 4, 2024

Standard Chartered Bank Recommends Buying Bitcoin on Dips

On October 4, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated that while gold is a geopolitical hedge, Bitcoin (BTC) is not effective against geopolitical risks. However, BTC can hedge against traditional financial issues like bank failures and de-dollarization. Therefore, Kendrick recommends investors buy BTC during price dips.

Crypto Analyst: Bitcoin Sees Its Worst October Performance in Nearly a Decade

On October 4, Timothy Peterson, founder of Cane Island Alternative Advisors, revealed data showing Bitcoin's performance in October 2024, down 4.27%, marking its worst October in nearly 10 years. Historical trends, however, suggest that most gains in October typically occur after the 19th, leaving room for potential recovery later in the month.

JPMorgan Analyst: Geopolitical Tensions and U.S. Election Push Investors to Gold and Bitcoin

JPMorgan analysts highlight that rising geopolitical tensions and the upcoming presidential election are pushing investors to view gold and Bitcoin as safe-haven assets. This "debasement trade" is fueled by factors such as ongoing geopolitical uncertainty, inflation concerns, large government deficits, and declining confidence in fiat currencies, particularly in emerging markets, making gold and Bitcoin attractive alternatives.

OpenAI Secures $4 Billion Revolving Credit Line with Multiple Banks

OpenAI has secured a $4 billion revolving credit line from major banks including JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, Sumitomo Mitsui Banking Corporation, UBS, and HSBC, according to market sources.

Taiwan Financial Supervisory Commission to Finalize VASP Registration Regulations by Year-End

Taiwan's Financial Supervisory Commission has drafted the Anti-Money Laundering Registration Regulations for Virtual Asset Service Providers (VASP) and revised the Anti-Money Laundering and Combating Terrorism Financing Regulations for Virtual Currency Platforms and Trading Businesses. These updates aim to strengthen the regulatory framework for virtual assets and improve anti-money laundering measures within the cryptocurrency industry.

Visa Introduces Tokenized Asset Platform to Support Stablecoins and CBDCs

Visa has launched the Visa Tokenized Asset Platform (VTAP) to support the issuance and management of fiat-backed tokens. VTAP enables the secure minting, transfer, and settlement of tokenized assets, including stablecoins and central bank digital currencies (CBDCs), providing institutional investors and central banks with a comprehensive infrastructure for managing digital assets.

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