FameEX Morning Crypto News Recap | April 10, 2024

Peter Schiff Sounds the Alarm on Soaring Inflation, Accuses JPMorgan CEO Jamie Dimon of Minimizing the Concern

Economist Peter Schiff forecasts a return of high inflation, urging substantial Fed rate hikes. He condemns JPMorgan CEO Jamie Dimon for downplaying US economic challenges. Despite this, Schiff admits Dimon's perspective aligns more closely with reality than other Wall Street CEOs.

Metaplanet, a Japanese Firm, Boosts Treasury with $659M Bitcoin Injection, Triggering 90% Surge in Shares

Metaplanet, listed on the Japanese stock exchange, witnessed a remarkable 90% increase in share price in a single day following its announcement to incorporate 1 billion yen worth of bitcoin into its balance sheet. This reflects a rising trend of traditional companies embracing cryptocurrency integration.

Critiquing Biden's 2025 Budget: The Unsound Mining Tax Proposal

In President Biden's fiscal 2025 budget, three crypto-related proposals are highlighted. It positively suggests aligning crypto with securities laws, but controversially proposes a 30% tax on Bitcoin miners' electricity. This could lead miners to move overseas, challenging the U.S. mining industry by potentially affecting its growth and sustainability in the face of global competition.

US Treasury Official Unveils Strategies for Enhanced Cryptocurrency Crime Oversight

During an April 9 Senate Banking Committee session, Deputy Treasury Secretary Adewale Adeyemo pushed for stronger enforcement capabilities to combat illicit finance and terrorism. He introduced three key reforms to bolster the U.S. in its fight against international offenders using cryptocurrencies, underscoring the urgency of upgrading regulatory frameworks to protect against these evolving threats.

Rep. McHenry Seeks Passage of Digital Asset Bill

Rep. Patrick McHenry, leading the US House Financial Services Committee and not running for reelection in 2025, shared his hope for digital asset bill passage before retiring. Speaking at Washington, D.C.'s Bitcoin Policy Summit, he outlined his goals for his final term, emphasizing the push for progress in regulating digital assets.

Microsoft AI Commits to Long-Term Investment Strategy in the UK

Led by CEO Mustafa Suleyman, Microsoft AI pledges significant, ongoing investment in the UK, aiming to attract innovative minds. This commitment is highlighted by the opening of a new AI hub in London, underlining Microsoft's strategic investment in the UK's capacity for innovation and tech advancement.

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