FameEX Morning Crypto News Recap | May 24, 2024

SEC Approves 19B-4 Form for Spot Ethereum ETF, Trading Time Yet to Be Determined

The U.S. Securities and Exchange Commission (SEC) has approved the 19B-4 form for the spot Ethereum ETF. However, trading cannot begin until the S-1 form is also approved, and the timeline for this approval is still undetermined.

US House Approves Bill Preventing Federal Reserve from Creating Central Bank Digital Currency

The U.S. House of Representatives has passed a bill prohibiting the Federal Reserve from creating a central bank digital currency (CBDC).

JPMorgan Chase Anticipates Steady U.S. Economic Growth and Continued S&P 500 Increases

JPMorgan Chase's trading department forecasts further gains for the S&P 500, fueled by steady growth in Nvidia and the U.S. economy. Andrew Taylor, head of U.S. market intelligence, noted that the AI trend and stable macroeconomic conditions could lead to new historical highs for the market.

UK Consumer Confidence Rebounds for Second Month, Economic Outlook Brightens

British consumer confidence rebounded for the second consecutive month, driven by a positive economic outlook and increased household budgets following a near three-year low inflation rate. The potential for timely interest rate cuts has further boosted consumers' perceptions of an improving economy, indicating continued growth in confidence in the coming months.

Federal Reserve May Consider 2024 Interest Rate Cuts, Citing Small Business Challenges as a Key Factor

Small businesses significantly impact U.S. employment but face challenges due to the delayed interest rate cut cycle, affecting operations and the job market. Federal Reserve Board member Waller stated on May 22 that if economic data remains weak over the next three to five months, the Fed might consider cutting interest rates by the end of 2024.

Reserve Bank of India Releases Bulletin on Risks Associated with DeFi and Cryptocurrencies

The Reserve Bank of India's (RBI) May 2024 bulletin discussed the significant impact and risks of decentralized finance (DeFi) and cryptocurrencies on the financial system. It noted that interest in cryptocurrencies is mainly speculative, rather than for use as a payment method in actual economic transactions.

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