FameEX Morning Crypto News Recap | September 20, 2024

U.S. Treasury Secretary Yellen Highlights Fed's Actions as Positive Signal for Economic Outlook

U.S. Treasury Secretary Janet Yellen said the Federal Reserve's recent measures indicate a positive economic outlook. She emphasized that the labor market remains stable and healthy, similar to its pre-pandemic state.

Traders Flock to Bitcoin in Anticipation of Fed Rate Cut

On September 19, crypto analysis firm Kaiko revealed that traders heavily bought Bitcoin ahead of the Federal Reserve's interest rate cut. After the Fed reduced rates by 50 basis points, the cumulative volume Delta, reflecting net buying and selling, reached a positive $50 million, signaling robust buying activity.

Government Bitcoin Holdings: U.S. Takes the Lead, Germany Drops to Zero

On September 19, Arkham published updated government Bitcoin holdings rankings, showing the U.S. leading with $12.16 billion. The top four are the U.S. ($12.16B), the U.K. ($3.67B), Bhutan ($782.46M), and El Salvador ($351.75M). Notably, Germany's holdings dropped from $3.56 billion to zero, marking a significant shift.

Institutions Scale Back Bitcoin Shorting as CME Futures Net Positions Plunge 75%

CryptoQuant founder Ki Young Ju stated that institutions have sharply decreased their Bitcoin short positions, with CME futures net positions falling by 75% in the last five months. This indicates a reduced bearish outlook among institutional investors.

OpenAI Raises $6.5 Billion in Funding, Valuing the Company at $150 Billion

OpenAI is nearing completion of a $6.5 billion funding round, with the final investor list expected by Friday. Oversubscription is high, potentially excluding some investors. Strategic participants like Microsoft, Nvidia, and Apple are likely to join, pushing OpenAI's valuation to $150 billion. Thrive Capital will lead the round, contributing $1.25 billion.

EU Warns Apple to Unlock iPhone Operating System or Face Significant Fine

The European Union has warned Apple to open its iPhone operating system to competitors for better compatibility with other technologies. Non-compliance could lead to a formal investigation and a fine of up to 10% of Apple's global annual revenue, aiming to boost competition and interoperability in the tech industry.

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