FameEX Morning Crypto News Recap | June 13, 2024

Fed Chairman Powell: Additional Interest Rate Hikes Unlikely

Federal Reserve Chairman Powell announced at a press conference that the Fed is unlikely to raise interest rates further. He clarified that while rate hikes are not entirely ruled out, no one in the FOMC committee considers them the basic assumption.

Bill Miller Discusses Why Bitcoin Is Still Undervalued

Bill Miller IV, chairman and CIO of Miller Value Partners, asserts that Bitcoin is still undervalued despite its recent highs. He emphasizes Bitcoin's potential as a superior monetary system to fiat currencies, which are vulnerable to human control and debasement. Miller sees significant growth potential for Bitcoin's market cap.

MoonPay Enables Crypto Purchases via PayPal for UK and EU Users

MoonPay announced that users in the UK and EU can now buy cryptocurrencies via PayPal using balances, bank withdrawals, or debit cards. This follows a similar U.S. integration last month. The PayPal integration now available to all U.S. users allows buying and selling over 110 cryptocurrencies.

Dubai International Financial Centre Aims for Fintech Partnership with Hong Kong

Officials from the Dubai International Financial Centre (DIFC) aim to strengthen cooperation with Hong Kong in the fintech sector. Chief Legal Counsel Jacques Visser highlighted the focus on cross-border supervision of virtual assets, including all tokenized assets and Web3 transaction assets, emphasizing close communication with regions like Hong Kong.

AI-Crypto Integration Expected to Boost Global Economy by $20 Trillion

Bitwise’s Senior Crypto Research Analyst, Juan Leon, forecasts that the convergence of artificial intelligence (AI) and cryptocurrency could add $20 trillion to the global Gross Domestic Product (GDP) by 2030, significantly transforming the global economy.

12-Month Crypto Standouts: Meme Coins Secure 7 of Top 10 Positions

Bitcoin (BTC) has surged over 168% against the U.S. dollar, outperforming many global asset classes. Despite this, meme coins have dominated, with seven of the top ten gainers in the past year being meme coins, underscoring their significant influence on the crypto market.

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