FameEX Morning Crypto News Recap | June 2, 2023

Russian Businesses Seek Putin's Support to Legalize Cryptocurrencies
Russian businesses have appealed to President Putin for support in legalizing cryptocurrencies. Their suggestions, including the use of digital currencies in global trade settlements, have been included in a report submitted to the president.

Elon Musk Sounds Alarm: Commercial Real Estate Experiencing Swift Decline, Anticipates Impact on Home Values
Elon Musk's warning of the fast decline in commercial real estate highlights potential implications for home values. Although Barbara Corcoran and others acknowledge the troubles ahead for commercial properties, opinions diverge on the impact on residential real estate. Corcoran emphasizes a challenging phase for the commercial market before any signs of recovery.

Economist Peter Schiff Sounds Alarm: US Dollar Crisis Looms, Foresees 'Catastrophic End' Amid Escalating National Debt
Economist Peter Schiff's warning highlights an approaching U.S. dollar crisis, attributing it to the newly approved debt ceiling agreement that permits unrestricted government spending and borrowing. Schiff predicts a catastrophic outcome as the nation's sovereign debt and U.S. dollar crisis inevitably converge.

Tether Achieves Milestone: Market Cap Soars Past $83.23 Billion
Tether, the stablecoin issuer, achieved a noteworthy feat by surpassing its previous record. On June 1, 2023, the market capitalization of its dollar-linked token USDT exceeded $83.2 billion. This remarkable accomplishment reflects a substantial 27.15% increase in value compared to November 2022, when USDT hit a market cap low of $65.43 billion.

Cleanspark Supercharges Hashrate: Acquires 12,500 Bitcoin Miners for $40.5 Million
Cleanspark, the publicly-traded bitcoin mining company, revealed its purchase of 12,500 Antminer S19 XP bitcoin miners for $40.5 million on June 1, 2023. This strategic investment is expected to substantially enhance Cleanspark's mining capacity, contributing an additional 1.76 exahash per second (EH/s) to their overall hashrate.

Georgian Central Bank Launches AML Investigation on Cryptocurrency Firms
Georgia's National Bank (NBG) plans to implement mandatory oversight of virtual asset service providers (VASPs) starting September 1, 2023. This initiative aims to curb money laundering and enforce adherence to sanctions, as the country takes measures to monitor cryptocurrency firms within its crypto-friendly environment.

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