FameEX Morning Crypto News Recap | May 21, 2024

Analysis: Market Impact of US Regulators Approving an Ethereum ETF

Industry observers generally agree that US regulator approval of a spot Ethereum ETF would positively impact the asset. Conversely, if these ETFs are not approved, the market impact is expected to be minimal. This is because market expectations for approval from the U.S. Securities and Exchange Commission (SEC) are currently low.

Fed's Mester States: Interest Rates May Be Cut if Economy Worsens, Maintained or Raised if Inflation Stalls or Drops

Fed's Mester noted that should the economy deteriorate unexpectedly, lowering interest rates could be considered. Conversely, if the decline in inflation stalls or reverses, maintaining or even raising interest rates could be options.

European Stocks Approach Record Highs Amid Earnings Growth and Rate Cut Expectations

European stocks are nearing record highs, buoyed by optimism over earnings growth and possible interest rate cuts. The Stoxx 600 index increased by 0.2%, reaching a new all-time high last week. Basic resource stocks led gains amid record gold and copper prices, technology stocks also advanced, though auto stocks underperformed.

U.S. House of Representatives Set to Vote on FIT21 Bill, Potentially Transforming Crypto Market Structure

The U.S. House of Representatives is set to vote on the 21st Century Financial Innovation and Technology Act (FIT21 Act) on May 22. This landmark cryptocurrency market structure bill passed the House Agriculture and Financial Services Committee last summer and received approval from the Rules Committee earlier this month for the upcoming vote.

Grayscale May Be Purchased by a Global Asset Manager or Rival Firm

Cryptocurrency industry insider @AP Abacus shared on the X platform that sources anticipate Grayscale might be acquired by a global asset management firm or a competitor. This speculation stems largely from the track record of Grayscale's new CEO, Peter Mintzberg, who is recognized for his merger and acquisition expertise at Goldman Sachs and BlackRock.

Brazil's Central Bank to Implement Cryptocurrency Regulations in Phases, Aiming to Finalize Proposals by End of 2024

The Central Bank of Brazil announced plans to regulate cryptocurrencies in stages, with the goal of finalizing the normative proposal by the end of 2024.

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