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FameEX Morning Crypto News Recap | August 31, 2023

2023-08-31 12:02:45

Bloomberg Analysts Increase Chances of Spot Bitcoin ETF Approval Following Grayscale's Legal Triumph
Bloomberg's ETF analysts, Eric Balchunas and James Seyffart, initially predicted a 65% chance of a spot bitcoin ETF approval in August 2023. Following a US court ruling favoring Grayscale in a legal battle against the SEC, their estimate has been revised to a 75% likelihood.

Nodal Power Raises $13M to Transform Landfill Gas into Eco-Friendly Bitcoin Mining
Utah's Nodal Power, known for converting landfill gas into energy for bitcoin mining, has raised $13 million in a seed round supported by strategic investors. CEO Bryan Black highlights the technology's potential to greatly influence local energy markets.

PYUSD's Unobtrusive Role: A Narrative of Serene Achievement Among Stablecoin Titans
PayPal's stablecoin, PYUSD, has seen recent growth, yet lags significantly behind top stablecoins in terms of scale and trading activity. Compared to Tether (USDT)'s $82B market cap, PYUSD constitutes only 0.052%. Similarly, against USDC's $26.12B valuation, PYUSD represents just 0.16% of the total.

Tether Adopts Bahamas' Britannia Bank Amid Challenges in US Banking Landscape
Tether (USDT), the leading stablecoin by market cap, has reportedly shifted its banking operations to Britannia Bank & Trust, according to anonymous sources. Over the past month, USDT's supply has decreased by 1.3%, resulting in a circulation of 82.85 billion USDT.

Crypto Expert Forecasts Surge in Stablecoin Adoption Despite Hostile Regulation
Bloomberg Intelligence analyst Jamie Coutts envisions robust growth in stablecoin adoption, anticipating a surge once U.S. regulatory concerns are addressed. Coutts highlights the rapid expansion of stablecoin usage, potentially surpassing bitcoin, as companies like PayPal integrate them into payment systems.

Notice of Inquiry Issued by US Copyright Office Regarding Artificial Intelligence
The US Copyright Office has invited comments and inquiries on copyright concerns related to artificial intelligence (AI), particularly generative AI like OpenAI's ChatGPT and Google's Bard. They aim to gather insights and factual information about copyright challenges posed by advancements in AI technology.

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