FameEX Morning Crypto News Recap | April 15, 2024

Bitcoin Tumbles as Political Tensions Intensify in the Middle East

Following Iran's attack on Israel on April 13, which heightened Middle East tensions, Bitcoin's price significantly dropped by 8.4% to $61,625. This abrupt decline erased over $130 million from Bitcoin’s market capitalization within minutes, emphasizing the cryptocurrency's acute sensitivity to geopolitical developments.

Hollywood Union Pact with Music Companies Shields Against AI Use

Entertainment industry workers have negotiated a preliminary agreement with leading record labels, including Warner Music Group and Sony Music Entertainment. The deal boosts minimum wages and establishes protections against artificial intelligence use. It also requires labels to obtain consent and provide compensation before releasing songs that use digital replicas of artists' voices.

"China Set to Begin Bidding — Will Bitcoin ETFs in Hong Kong Trigger a Rally Before the Halving?"

Crypto commentator Bitcoin Munger stated that "mega whales" with at least 10,000 BTC are currently buying more Bitcoin. This surge in purchasing is due to their anticipation of Hong Kong approving its first spot Bitcoin ETFs today.

BlackRock Breaks Record, Manages $10.5 Trillion in Assets in Q1

For Q1 2024, BlackRock reported a record-breaking $10.5 trillion in assets under management, reflecting a $1.4 trillion increase from 2023. As a prominent Bitcoin investor, the company continued its growth trajectory, marking another quarter of success in both income generation and asset management.

Hong Kong OTC Providers for Digital Assets Request Exemption from USDT and USDC Trading Limits

The public consultation for Hong Kong's licensing system for virtual asset OTC service providers ended last Friday. The Hong Kong Virtual Asset Industry Association has appealed to the government to exempt USDT and USDC from trading restrictions, claiming these constraints could severely impact business development.

IRS Predicts Increase in Cryptocurrency Tax Evasion Cases This Year

Guy Ficco, the IRS's director of criminal investigation, announced an expected rise in crypto tax evasion cases this year. The IRS is ready to address these issues, working with blockchain analytics firm Chainalysis and various law enforcement agencies to combat cryptocurrency crimes effectively.

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