FameEX Morning Crypto News Recap | June 5, 2024

BIS Entrepreneur Projects Swift Increase of Bitcoin to $95,000

BIS entrepreneur and BTC investor Alistair Milne argues that after prolonged consolidation at resistance levels, Bitcoin's breakout will lead to a dramatic rise. Citing the 2015-2016 period when Bitcoin soared from $470 to $790 after struggling to stay above $470, Milne predicts that a breakthrough above $74,000 could quickly propel Bitcoin to around $95,000 within 2 to 3 weeks.

Russia to Enforce Tight Cryptocurrency Regulations from September 1, Excludes Miners and Central Bank Initiatives

Russian State Duma member Anatoly Aksakov has reintroduced a proposal to ban private cryptocurrency circulation starting September 1. The bill aims to tightly restrict the general circulation of crypto assets, including Bitcoin and the digital ruble. However, it exempts crypto mining and central bank-related experimental projects from these restrictions. The action aims to curb unregulated transactions, though it does not constitute a total prohibition on the use of digital currencies.

Thailand’s Securities and Exchange Commission Grants One Asset Management Approval to Launch the Country's First Bitcoin Spot ETF

The Thai Securities and Exchange Commission has approved One Asset Management to launch Thailand's first Bitcoin spot ETF, ONE-BTCETFOF-UI, on June 4. The offering period is set from May 31 to June 6. With an investment risk level of eight, this ETF targets high-net-worth individuals and institutional investors.

U.S. Job Openings Anticipated to Decline in April, Potentially Weighing on the Dollar

U.S. job vacancies have been below 9 million for six months since peaking at 9.3 million last September. Vacancies are expected to decrease slightly to 8.34 million in April from 8.48 million in March. Analyst Eren Sengezer notes that if April's job vacancies drop to or below 8 million, it could signal loose labor market conditions and pressure the U.S. dollar.

AI Specialists Call for Enhanced Whistleblower Protections and Increased Awareness of Advanced AI System Risks

Thirteen former and current employees from OpenAI (ChatGPT), Anthropic (Claude), DeepMind (Google), and leading AI experts are advocating for enhanced whistleblower protections. They aim to increase public awareness about the potential risks associated with advanced artificial intelligence systems.

BIS Initiates Project Rialto to Enhance Traditional Cross-Border Payment Systems

The Bank for International Settlements has launched Project Rialto to improve traditional cross-border payments. This initiative aims to enhance instant payments by integrating modular foreign exchange components with CBDC settlements. Developed by the BIS Innovation Center and Singapore Center in collaboration with multiple central banks, Project Rialto addresses the high costs, slow speeds, and complexities of current foreign exchange services.

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