FameEX Morning Crypto News Recap | August 29, 2024

California enacts bill requiring AI companies to disclose data usage practices

On August 27, the California Legislature passed a bill mandating AI companies to be transparent about the data used in training their models. The bill now awaits Governor Gavin Newsom's approval, who has not yet commented.

ING: Euro's stability lags behind US dollar, ECB more likely to reduce interest rates

ING points out the euro's instability compared to the US dollar, driven by higher expectations of ECB rate cuts. Analyst Francesco Pesole noted that while the market expects a 50 basis point rate cut from the Federal Reserve by year-end, it anticipates the ECB to reduce rates by 64 basis points in its last three meetings of 2024.

BlackRock Introduces Ethereum ETF in Brazil, Slashes Management Fees by Half for First Year

On August 28, BlackRock launched its Ethereum ETF, iShares Ethereum Trust (ETHA), on Brazil's B3 exchange under the ticker ETHA39. Available to both retail and institutional investors, the ETF has an annual management fee of 0.25%, which will be reduced to 0.12% in the first year or until assets reach $2.5 billion.

HKMA Launches Ensemble Sandbox to Explore Four Major Tokenized Asset Use Cases

The Hong Kong Monetary Authority (HKMA) launched the Ensemble project sandbox, targeting four key tokenized asset use cases. The first phase focuses on facilitating interbank settlement with experimental tokenized currencies and exploring tokenized asset trading, all within a controlled environment to test and develop these technologies.

Nvidia's Q2 FY 2024 Revenue Hits $30 Billion, Exceeding Market Expectations

On August 29, Nvidia announced Q2 FY 2024 revenue of $30 billion, more than doubling last year's $13.507 billion and surpassing market expectations of $28.61 billion. Data center revenue also exceeded forecasts, reaching $26.3 billion against a predicted $25.08 billion.

OpenAI in Talks for Funding with Valuation Over $100 Billion

The Wall Street Journal reported on August 29 that OpenAI is in financing talks, with the company's valuation exceeding $100 billion.

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