FameEX Morning Crypto News Recap | August 1, 2023

Robert Kennedy Jr. and Ron Paul Unite in Identifying the Lack of a Genuine Free Market in America
Robert F. Kennedy Jr., a U.S. presidential candidate, and former Representative Ron Paul agree that America lacks a free market. They both recognize the existence of a "crony corporatist system," with Paul supporting Kennedy's viewpoint.

Shark Tank Star Kevin O'Leary Forewarns of Additional US Bank Failures
Kevin O'Leary, aka Mr. Wonderful from Shark Tank, warns of imminent bank failures in the US as the Federal Reserve raises interest rates. He highlights the vulnerability of regional banks that support a substantial part of the economy and notes early indications of instability.

President Isaias Afwerki of Eritrea Advocates for a Dollar and Euro-Independent Financial Architecture
President Isaias Afwerki of Eritrea urged the establishment of an independent economic system, free from traditional power influences. Speaking at the Russia-Africa Summit, he informed President Vladimir Putin about the existing world order's domination by the dollar and its use of sanctions to constrain China and Russia's growth.

Japan Blockchain Association Calls for Extensive Crypto Taxation Reform in Tokyo
A Japanese industry group advocates tax reform in the crypto sector, attributing the current regulations to hindering Web3 economy growth and deterring cryptocurrency adoption by taxpayers. They urge the government to create a more conducive environment for Japan's crypto industry through revised rules.

Cato Institute Experts Support Dollarization as a Shield for Ordinary People's Purchasing Power
Cato Institute experts argue that complete dollarization in Argentina protects ordinary people's purchasing power from corrupt politicians and inefficient central bankers. They view the loss of seigniorage as a minor drawback compared to the advantages and stability that dollarization brings.

Generative AI's Potential to Drive Trillion-Dollar Growth in the Global Economy
McKinsey & Company's report indicates that generative AI, including ChatGPT, could boost the global economy by trillions annually. The study, titled "The Economic Potential of Generative AI," published on June 14, 2023, assesses how AI tools can bring transformative changes across different sectors.

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