FameEX Morning Crypto News Recap | June 19, 2023

JPMorgan Foresees Dollar Dominance Enduring Despite China's Overtaking of US as the World's Largest Economy
JPMorgan analysts anticipate China's rise as the world's largest economy by 2030, but expect the U.S. dollar to maintain its dominance throughout the 21st century. They draw parallels with the historical shift when the U.S. surpassed Great Britain as the largest economy.

Mixed Reactions on Twitter as FTX 2.0 Reboot Stirs Controversy: Supporters Rally, Skeptics Voice Doubt
The FTX estate's potential reboot is fueling intense discussions on Twitter, as users express contrasting views. Critics voice reservations, while supporters eagerly embrace the idea of a rejuvenated FTX 2.0, resulting in a divided sentiment among the community.

Venezuela Allegedly Set to Liquidate Petro Cryptocurrency, According to Reports
Venezuela reportedly contemplates discontinuing petro cryptocurrency operations amid corruption allegations involving the former head of Sunacrip. The allegations pertain to a potential $20 billion scheme linked to the settlement of Venezuelan oil sales.

Russian President Putin's Remarks on US Dollar Dominance and Russia's Lack of De-Dollarization Plan
Russian President Vladimir Putin has acknowledged the waning dominance of the U.S. dollar, affirming that Russia is not responsible for its decline. He clarified that de-dollarization is not a goal for Russia, but acknowledged the potential for global trends to eventually undermine the U.S. dollar's supremacy.

Economist Peter Schiff Forecasts US Dollar Decline Beyond Yellen's Warning, as Fed Chair Powell Expresses Financial Crisis Concerns
Economist Peter Schiff cautions that the decline of the U.S. dollar will exceed Janet Yellen's warning, posing a substantial threat to living standards. Meanwhile, Federal Reserve Chair Jerome Powell expresses worry about the ongoing financial crisis but aims to prevent market instability.

Economist Steve Hanke Raises Concerns Over Approaching 'Ugly' Recession, Critiques Federal Reserve's Directionless Policies
Steve Hanke, a respected economist and former member of Ronald Reagan's Council of Economic Advisors, asserts that the U.S. Federal Reserve lacks clear direction and exhibits uncertainty in its decisions. Hanke also predicts a troubling economic downturn in 2024, describing it as an "ugly recession."

Report Reveals SEC Enforcement Director's Explanation for Strategy Shift in Recent Actions
SEC's Enforcement Director, Gurbir Grewal, highlights that the crypto industry has a prevailing culture of noncompliance. In response, the SEC has undertaken enforcement actions and adjusted its strategies to tackle the industry's lack of compliance.

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