Coin World News Report:
Harris Expresses Support for the Cryptocurrency Industry, Boosting Bitcoin Market Sentiment
According to reports, with Kamala Harris expressing support for the cryptocurrency industry, the bullish sentiment in the Bitcoin market has strengthened. Harris promised to help the development of the cryptocurrency industry during a fundraising event, significantly driving the rebound of Bitcoin. Data shows that Bitcoin has rebounded nearly 12% from its low point of 57.5k and is expected to continue to rise.
Correlation between Cryptocurrencies and the US Stock Market Approaching Historic High
Data from Bloomberg shows that the 40-day correlation coefficient between the top 100 cryptocurrencies by market capitalization and the S&P 500 index is 0.67, slightly lower than the second quarter of 2022 at 0.72. This data indicates that the correlation between cryptocurrencies and the US stock market is approaching a historic high.
Only 5.91% of the Total 21 Million Bitcoins Remain Uncirculated
According to data from the HODL15Capital platform, out of the total 21 million Bitcoins, 19,757,900 have been mined, leaving only 5.91% of the supply yet to be mined, approximately 1.24 million coins.
OpenAI CEO: The Era of Artificial Intelligence Has Arrived!
On September 23rd, Sam Altman, the CEO of OpenAI, announced in a blog post that humanity is entering an “unimaginably prosperous era” due to the success of deep learning technology. He believes that artificial intelligence systems will gradually address global challenges, including climate change and space colonization, marking a period of transformation in society.
Wall Street Investors Shift to Financial and Technology Stocks After Fed Rate Cut
According to reports, after the Federal Reserve announced a rate cut, Wall Street investors have turned to favor financial and technology stocks instead of traditional industries such as consumer goods and healthcare. The fundamental reason for this shift is that lower interest rates reduce the financing costs of financial companies and increase net interest margins, making them more attractive than high-dividend traditional industries.
Musk Loses Lawsuit for Not Paying Severance to Thousands of Former Employees
On September 24th, Bloomberg reported that Musk lost a lawsuit for not paying severance to thousands of former Twitter employees during the 2022 takeover. This case could set a precedent for thousands of similar arbitration complaints and impact many others affected by layoffs.
Disclaimer: The information provided in this section is for reference only and does not constitute any investment advice or the official views of FameEX.
