FameEX Morning Crypto News Recap | August 14, 2023

Tether's Dominance Exceeded 80% in the Brazilian Crypto Market During the First Half of 2023
In the first two quarters of 2023, the Brazilian crypto market was largely controlled by USDT, the top stablecoin, representing more than 80% of dealings. According to the Brazilian tax authority, transactions exceeding 90 billion reales (around $18.4 billion) were conducted with USDT.

Resurgence in DeFi: Locked Value Nears $42 Billion while Token Market Expands
Although it approached $40 billion on August 2, the decentralized finance (DeFi) sector made a swift recovery, exceeding $41 billion in locked value. Additionally, the DeFi crypto segment saw substantial growth, reaching $45.08 billion, marking an impressive 6.17% increase within a span of just one day.

Amid Gold's Recent Dip, Analysts Predict Bright Future with Potential Highs Exceeding $2,500 by 2024
Gold and silver have faced recent declines, with gold losing over 2% in the past month and silver falling over 5% against the U.S. dollar. Despite this, Livermore Partners' founder David Neuhauser anticipates gold could reach $2,500 by 2024's end, disregarding its recent lackluster performance.

Zimbabwean Central Bank Envisions Use of Gold-Backed Tokens for Transactions
Zimbabwe's central bank is approaching the introduction of gold-backed digital tokens, recognized for their efficacy in monetary policy. Governor John Mangudya noted a consumer survey indicating scant awareness of the impending central bank digital currency (CBDC).

Former SEC Official Alerts to Ongoing Wave of 'Crypto Regulatory Measures'
The former head of internet enforcement at the U.S. SEC warns that the persistent "crypto regulatory onslaught" is enduring due to the agency's pivotal role in safeguarding investors, maintaining fair markets, and fostering capital formation. This vital mission makes relenting improbable.

Peter Schiff's Warning: 2 Major Unforeseen Events for Investors, Predicts Inflation's Resistance to Fed Rate Cuts
Economist Peter Schiff foresees "two significant surprises" for investors, underscoring the Federal Reserve's battle with inflation. He predicts that as the U.S. economy faces a recession, inflation will be too high for the Fed to address through interest rate cuts, presenting a formidable situation.

Upcoming Spike in Oil Prices Amid Shrinking Supply and Record-Breaking Demand
Oil prices are poised to surge due to shrinking supply and rising demand. Depleting reserves, limited OPEC capacity, and substantial purchases of discounted Russian crude by major consumers like China and India indicate a probable sustained increase in oil prices, as highlighted in the August report by the International Energy Agency.

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