FameEX Morning Crypto News Recap | July 3, 2023

Surpassing 10 Million Tokens: Liquid Staking DeFi Platforms Secure Ethereum Holdings Worth Close to $20B
Liquid staking derivatives platforms have locked up more than 10 million Ethereum, valued at almost $20 billion, according to recent data. Notably, Lido Finance and Rocket Pool, leading decentralized finance protocols, achieved remarkable 30-day growth rates between 7.57% and 9.69%.

Stablecoin Economy Suffers Devastating Blow as June Redemptions Wipe Out Over $2 Billion
Recent statistics reveal that the market capitalization of the stablecoin economy fell below $129 billion, reaching $128.21 billion on July 2, 2023. Withdrawals from the token economy have exceeded $2 billion in value over the course of one month, starting from May 28. This indicates a significant reduction in stability within the stablecoin market.

40% of South Africans Have Knowledge of the Web3 Concept
A Consensys survey reveals that approximately 40% of participants from South Africa have knowledge of the Web3 concept. Moreover, a noteworthy 80% of respondents express the belief that the underlying technology of cryptocurrencies has the capacity to "transform or fully rebuild the financial system."

Vitalik Buterin, Ethereum Co-Founder, Considers SEC Crypto Enforcement Actions as a Challenge to the Centralized World
Ethereum co-founder, Vitalik Buterin, commented on the recent enforcement actions taken by the U.S. Securities and Exchange Commission (SEC) against the crypto industry. He emphasized the impact on projects like Solana and emphasized that the real competition exists with the "centralized world."

Federal Reserve Chair Urges Stronger Actions to Combat Inflation, Contemplates Sequential Interest Rate Hikes
Federal Reserve Chair Jerome Powell has restated the central bank's hawkish stance, highlighting the need for a more restrictive and extended policy based on recent economic data. Powell has hinted at the potential for consecutive interest rate hikes in forthcoming meetings.

Biden Commits to Closing Crypto Tax Loopholes and Ensuring Equitable US Tax System
President Joe Biden has made a commitment to establish a just federal tax system by closing tax loopholes for crypto traders and hedge fund managers. His goal is to ensure fairness by shifting the burden to the wealthy, super-wealthy, and large corporations while safeguarding the middle class from any tax hikes.

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