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FameEX Afternoon Crypto News Recap | April 19, 2023

2023-04-19 16:52:45

SEC Classifies DASH, ALGO, and OMG as 'Unregistered Securities
The SEC has accused Bittrex of offering and selling some crypto asset tokens as investment contracts and securities. This comes after the SEC classified several crypto assets as securities, including LUNA and UST in a case against Terraform Labs, and Ethereum in a lawsuit by the New York attorney general against Kucoin, both alleging unregistered securities sales.

Microsoft to Create In-House AI Chip to Drive ChatGPT
According to a report from The Information, Microsoft has been developing its own AI chips since 2019 to handle the increasing costs of in-house and OpenAI projects. This development is expected to reduce the company's reliance on Nvidia's GPUs. The hardware project has been kept secret until now, and the move towards developing in-house AI chips signals a shift in strategy for Microsoft.

SEC Chair Gary Gensler Declines to Confirm Whether ETH Is a Security During Hearing
At an oversight hearing, SEC Chair Gary Gensler stated that the SEC views Bitcoin as a commodity but declined to categorize Ether. During the hearing, the chair of the U.S. House Financial Services Committee, Patrick McHenry, criticized the SEC and its leadership regarding digital assets.

EU Launches Research Hub to Examine AI Algorithms Used by Big Tech
The European Commission has launched a research unit to examine the impact of the AI-backed algorithms used by major tech firms such as Google and Meta. The research unit will be responsible for auditing the algorithms used by prominent online platforms and search engines, including Facebook and Google.

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

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