FameEX Morning Crypto News Recap | March 1, 2024

Grayscale Urges SEC to Greenlight Trading Options for Bitcoin Spot ETF

Grayscale Investments, a leading cryptocurrency asset manager, is pushing the US Securities and Exchange Commission (SEC) to authorize options trading for its Bitcoin ETF. Approval would pave the way for attracting a broader spectrum of investors to the cryptocurrency market.

SEC Allegedly Investigates OpenAI for Possibly Misleading Investors, Examining Internal Documents

The Securities and Exchange Commission (SEC) has launched an investigation into OpenAI, exploring the possibility that the company misled its investors. This inquiry was initiated following the temporary removal of CEO Sam Altman last year, with the SEC now subpoenaing internal documents from both current and former executives and board members of OpenAI.

Microsoft Introduces 'Copilot for Finance' Powered by AI

On February 29, Microsoft introduced "Copilot for Finance" through a public preview, marking its venture into virtual AI assistants. This AI-driven service is part of the Microsoft 365 suite, designed to offer generative AI and automation enhancements for both new and pre-existing workflows, thereby optimizing productivity tools with advanced artificial intelligence capabilities.

Bank of America Merrill Lynch and Wells Fargo Start Providing Clients with Spot Bitcoin ETF Options

Bank of America Merrill Lynch and the wealth management division of Wells Fargo have reportedly started to provide select clients with access to spot bitcoin ETFs. This move places them among other investment platforms like Fidelity, Charles Schwab, Robinhood Markets, and UBS, which also offer access to spot bitcoin ETFs to certain clients.

Election Worries Pause Relaxation of Crypto and ETF Regulations in South Korea

South Korea has postponed its plans to ease crypto regulations and lift the ban on spot bitcoin exchange-traded funds (ETFs). This decision comes amid deliberations by the People Power Party to potentially lift these restrictions before the upcoming general election in South Korea, leading to a delay in regulatory changes initially proposed by the government.

Ex-IMF Economist Sounds Alarm on US Debt

A former International Monetary Fund (IMF) economist raises concerns regarding the escalating US debt levels. Meanwhile, the head of the Atlanta Federal Reserve suggests the likelihood of potential interest rate cuts. These contrasting signals reflect apprehensions about the economic outlook, with one emphasizing fiscal challenges and the other hinting at monetary policy adjustments to navigate them.

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