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FameEX Morning Crypto News Recap | August 22, 2023

2023-08-22 12:28:05

Market Analyst Compares Bitcoin to 1930 Stock Market Crash
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, likens Bitcoin's current state to the 1930 stock market. Comparing it to the 1929 Great Crash, he draws parallels between high equity prices and the subsequent 90% market decline, a key factor in the decade-long Great Depression.

South Africa Confirms Participation of More Than 40 Heads of State in BRICS Summit
South Africa, hosting the BRICS summit this year, announces 40+ heads of state joining the Aug. 22-24 event. Notably, South Africa reports 23 countries have officially sought BRICS membership, underlining the organization's expanding global significance and appeal.

Report Raises Concerns Over Privacy and Freedom Threat from Federal Reserve CBDC
The America First Policy Institute (AFPI) warned about risks in adopting a central bank digital currency (CBDC) in a report by Michael Faulkender and David Vasquez. Concerns revolve around dangers linked to the Federal Reserve's direct issuance of a digital dollar.

Nobel Laureate Paul Krugman Recommends Euro Adoption Over US Dollar for Argentina
Paul Krugman, Nobel laureate in economics, suggests Argentina consider adopting the euro instead of the U.S. dollar due to the peso's devaluation. He points out Argentina's stronger trade ties with the European Union and asserts the euro could be a more suitable option for the country.

Prestigious UK University Collaborates with AI Startup for Cryptocurrency Market Analysis
Imperial College London has joined forces with AI startup FluidAI to address challenges in the digital asset market using cutting-edge technologies. The collaboration aims to enhance the "tokenized market" for institutions, trading platforms, and retail investors. FluidAI emphasizes resolving liquidity aggregation concerns within the crypto space as a primary focus.

SEC Accuses Crypto Investment Manager Titan of Misleading Advertising Claims
Fintech advisor Titan Global Capital Management settles with the U.S. Securities and Exchange Commission (SEC), accepting a cease-and-desist order, censure, and fines. The resolution follows SEC charges linked to advertising and compliance shortcomings.

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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