FameEX Morning Crypto News Recap | April 1, 2024

Microsoft and OpenAI Set to Allocate $100 Billion Towards the Development of "Stargate" AI Supercomputer

Microsoft and OpenAI revealed on March 30 their intention to embark on a $100 billion project to construct a data center, featuring the "Stargate" AI supercomputer, aiming for a 2028 debut. The project is a direct answer to the escalating need for AI-focused data centers, driven by the swift rise of generative AI technologies demanding more advanced functionalities than typical data centers offer.

NFT Sales Dip for Third Week in a Row, Raising Concerns About Market's Steadiness

NFT sales saw a 14.97% decrease for the third successive week. Despite the market's dip, Bitcoin NFTs led sales from March 23 to March 30 with $82.61 million, marking a 3.8% fall from the previous week's totals, continuing the trend of declining sales in the sector.

US Intensifies Sanctions Against Russian Fintech Companies

The U.S. Treasury's OFAC has escalated sanctions against important players in Russia's finance and tech sectors, especially those dealing with virtual assets, to thwart attempts at circumventing U.S. sanctions. The focus is on individuals and entities that play a significant role in aiding other sanctioned parties to sidestep U.S. restrictions through transactions or services.

China to Forego Quantitative Easing, Yet Likely to Slash Interest Rates

Amidst speculation on China starting a quantitative easing (QE) policy, international banks, scholars, and traders concur that China will not adopt QE now. Yet, there is unanimous agreement on the persistence of China's monetary easing, with widespread anticipation of further interest rate cuts this year, underscoring an ongoing easing of monetary policy.

Panasonic and Jasmy Introduce Web3 Platform for Managing IoT Data

Panasonic and Jasmy introduced a groundbreaking Web3 platform for decentralized IoT data management, employing agile and Web3 technologies with Jasmy's storage solutions. This initiative promises users unparalleled control over their data, setting new standards for privacy and management in the IoT landscape.

UK Financial Authority Establishes Marketing Standards for Meme Coins, Urges Transparency and Regulatory Adherence

The Financial Conduct Authority (FCA) in the UK has outlined new guidelines for meme coin marketing by financial entities and influencers, underscoring the importance of clear and truthful promotions. The rules require "financial influencers" to obtain permission from an FCA-authorized representative before they can advertise or share memes related to financial products and services.

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