FameEX Morning Crypto News Recap | April 15, 2024

Bitcoin Plummets Amid Rising Political Tensions in the Middle East

Bitcoin's price dropped significantly, plunging 8.4% to $61,625 on April 13 following Iran's attack on Israel, which escalated tensions in the Middle East. This sudden decrease saw Bitcoin's market capitalization diminish by over $130 million within minutes of the attack's news breaking, highlighting the cryptocurrency's sensitivity to geopolitical events.

Hollywood Union Agreement with Music Industry Protects Against AI Usage

Entertainment industry workers have reached a preliminary deal with major record labels such as Warner Music Group and Sony Music Entertainment. This agreement aims to increase minimum wages and implement protections against the use of artificial intelligence. It includes stipulations for mandatory consent and compensation before songs featuring digital replicas of artists' voices can be released.

"China Prepares to Enter Bidding — Could Hong Kong's Bitcoin ETFs Ignite a Rally Ahead of the Halving?"

Crypto commentator Bitcoin Munger revealed on April 12 that major investors, known as mega whales, holding at least 10,000 BTC are actively buying more Bitcoin. This accumulation is driven by anticipation of Hong Kong approving its first spot Bitcoin ETFs today.

BlackRock Sets New Record with $10.5 Trillion in Managed Assets for Q1

BlackRock reported a record $10.5 trillion in assets under management (AUM) for Q1 2024, marking an increase of $1.4 trillion from 2023. The major Bitcoin investor maintained its growth trajectory, achieving another successful quarter in both income and managed assets.

Hong Kong Digital Asset OTC Services Seek Exemption from USDT and USDC Trading Restrictions

The public consultation on Hong Kong's licensing system for virtual asset OTC service providers concluded last Friday. The Hong Kong Virtual Asset Industry Association urged the government to exempt USDT and USDC from trading restrictions, arguing that such limitations could significantly hinder business development.

IRS Anticipates Rise in Crypto Tax Evasion Cases This Year

Guy Ficco, director of criminal investigation at the IRS, stated that crypto tax evasion cases are expected to increase this year. The IRS is prepared to tackle these cases, collaborating with blockchain analysis firm Chainalysis and other law enforcement agencies to effectively combat cryptocurrency-related crimes.

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