FameEX Morning Crypto News Recap | May 18, 2023

Axie Infinity Origins Successfully Bypasses Apple's App Store Barrier, Allowing iOS Users to Access the Game
Axie Infinity Origins, a play-to-earn (P2E) game built on blockchain technology, has successfully completed Apple's rigorous App Store review and is now available for iOS users. Sky Mavis, the developer of Axie Infinity, has adopted a strategic approach by gradually releasing the game in specific countries across Latin America and Asia.

Russian Tax Authority Takes Center Stage as Primary Crypto Regulator
A senior government official in Russia has disclosed that the country's tax administration will assume the responsibility of regulating the cryptocurrency industry. As per the proposed regulatory framework, the tax authority will act as the main regulatory body and the designated entry point for market participants.

Top Executives Rally Behind Urgent Appeal to Biden, Urging Avoidance of US
A collective of 146 top executives, including representatives from Morgan Stanley, Goldman Sachs, Nasdaq, and Pfizer, have united in urging President Joe Biden and congressional leaders to take immediate measures to avert the looming risk of a US debt default. They highlight the grave consequences that could ensue if timely action is not taken.

DRC20 Tokens Spark Surge in Daily Transactions, Captivating the Dogecoin Community
The Dogecoin community is abuzz with enthusiasm following the introduction of the DRC20 token standard, which has injected new energy into the market. This heightened interest has led to a substantial increase in daily transactions on the Dogecoin blockchain, reaching over 820,000 confirmed transactions on Wednesday, May 17, 2023. Additionally, the BRC20 token economy boasts a market capitalization of approximately $500 million.

Ripple Completes $250M Acquisition of Swiss Blockchain Custody Firm Metaco
Ripple, the creator of the renowned payments network and XRP token, has successfully acquired Metaco, a Swiss company specializing in digital asset custody and tokenization services. With this strategic move, Ripple aims to enhance its enterprise offerings by providing custody, issuance, and settlement solutions for tokenized assets. The acquisition bolsters Ripple's presence in the blockchain sector and expands its expertise in tokenization.

Tether's Strategy: Acquiring Bitcoin with Monthly Net Profits
Tether has disclosed its plan to regularly allocate a portion of its profits towards purchasing Bitcoin. With a strategy in place, the company intends to utilize up to 15% of its net realized operating profits to acquire Bitcoin on a recurring basis.

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