FameEX Morning Crypto News Recap | February 6, 2024
Bitcoin Leads Surge in Digital Asset Market as Grayscale's Sell-off Decelerates
The digital asset market saw an influx of $708 million in a week, predominantly in the United States with $703 million of the total. This represents a significant turnaround from the $499.7 million outflow in the week of January 22. Bitcoin dominated the inflows for the week of January 29, accounting for 99% or $703 million of the total.
Tether Spearheads $25 Million Investment in Mobile Payment Start-Up Oobit
Tether, the top stablecoin issuer, announced on Monday its lead investment in Oobit's Series A funding round, raising $25 million. The mobile payment startup's financing attracted significant participants, including Titan Fund, Anatoly Yakovenko of Solana, and 468 Capital, marking a notable collaboration in the fintech and cryptocurrency sectors.
Cybersecurity Experts Expose AI-Driven Deepfake Audio Attack Disrupting Live Conversations
IBM Security researchers have uncovered a technique using artificial intelligence (AI) that can hijack and manipulate live conversations between two people, alarmingly without their awareness. This AI-driven method is described as "surprisingly and scarily easy" to execute, highlighting significant vulnerabilities in real-time communication security.
Integrating AI with DeFi Could Yield Advantages for Both Sectors
Experts suggest that merging artificial intelligence (AI) with decentralized finance (DeFi) could unlock unprecedented opportunities in both fields. This combination has the potential to revolutionize aspects like auditing smart contracts and enhancing credit scoring mechanisms for lending, showcasing the transformative impact AI could have on the efficiency and reliability of DeFi services.
South Korea Suggests FSC Review of Crypto Executives Prior to Hiring
South Korea's financial regulatory body has put forward amendments that mandate prospective executives of cryptocurrency projects to secure regulatory clearance prior to their appointment at crypto firms. This proposal, aimed at modifying the nation's reporting requirements for virtual asset service providers, is anticipated to be implemented by the end of March 2024.
South Korea's Regulator Plans to Discuss Bitcoin Spot ETF with SEC Chairman Gary Gensler
The Financial Supervisory Service (FSS) of South Korea, the nation's primary financial regulatory body, intends to engage with the United States Securities and Exchange Commission (SEC) to gain insights into spot Bitcoin exchange-traded funds (ETFs). Operating under the Financial Services Commission's extensive oversight, the FSS oversees and regulates financial institutions within the country.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.