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FameEX Morning Crypto News Recap | November 20, 2023
2023-11-20 12:14:45
US Presidential Contender Commits to Shielding Bitcoin from Government Intervention
Presidential candidate Vivek Ramaswamy in the U.S. voiced concerns about government apprehension towards Bitcoin's growth, potentially challenging the Federal Reserve. He committed to safeguarding the innovation sector from government intrusion, especially in the realm of cryptocurrencies like Bitcoin, to ensure freedom for technological progress if he wins the election.
SEC Chair Gensler Faces Backlash for Asserting SEC Avoids Prosecutw-Abiding Businesses
Gary Gensler, SEC Chairman, drew criticism from the crypto sector for his comment on not prosecuting honest firms while not defending the dishonest. Critics within the crypto community claim that the SEC, under Gensler, has been unjustly pursuing companies like Ripple and LBRY, while purportedly being lenient towards figures like ex-FTX CEO Sam Bankman-Fried.
With Over 90% of Bitcoin Mined, Network Sees Concurrent Surge in Hashrate and Difficulty Levels On November 19, 2023, Bitcoin's hashrate hit 468 EH/s, surpassing the usual ten-minute block interval as a block was processed in 7 minutes and 37 seconds. If this pattern of block intervals maintains, the network is likely to face a 3% difficulty increase, marking its seventh continuous rise since September 19. Defi's Remarkable 30-Day Expansion — $9.3 Billion Surge in Total Value Locked, Spearheaded by Rocket Pool In the month following October 18, 2023, the decentralized finance (defi) sector experienced a remarkable boost, with a $9.3 billion increase in total value locked. Leading this growth, Rocket Pool, famed for its liquid staking services, achieved a substantial 26.94% rise, making it the standout among the top ten defi protocols during this period. Meta Eliminates Its Responsible AI Division in Company-Wide Restructuring Efforts Meta, a major player in social media, has disbanded its team dedicated to managing its artificial intelligence (AI) initiatives. After the dissolution, several former members of this responsible AI division have shifted to new roles within the company, with a significant number moving to the generative AI product division, and others joining the AI infrastructure team. IOSCO, a Global Securities Authority, Releases Proposed Framework for Cryptocurrency Regulations IOSCO has released a comprehensive set of recommendations to guide the regulation of cryptocurrencies, indicating that jurisdictions could either adjust current regulations or establish new ones to align with these standards. The primary aim of this framework is to identify and mitigate significant risks within the cryptocurrency markets, ensuring a more standardized and secure approach to cryptocurrency regulation globally. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
