FameEX Morning Crypto News Recap | July 17, 2024

Fed's Kugler Indicates Rate Cuts Possible With Rising Unemployment

On July 17, Fed Governor Kugler noted that a rebalanced job market is key to reducing inflation to 2%. He suggested that rising unemployment could prompt the Fed to consider early rate cuts. Kugler expressed cautious optimism, based on non-government data, about achieving a 2% inflation rate without significantly cooling the labor market.

BlackRock's Spot Bitcoin ETF Hits $20 Billion Market Value

BlackRock recently updated its spot Bitcoin ETF, IBIT, data. As of July 15, IBIT's market value has surpassed US$20 billion, standing at US$20,224,466,745.68, with its bitcoin holdings increasing to 318,120.3577.

Argentina Establishes Rules for Regularizing Previously Unreported Assets, Including Cryptocurrency

Argentina has unveiled regulations for a legislative package that integrates cryptocurrency and other undeclared assets into its tax system. Only taxpayers with assets in registered Virtual Asset Service Providers (VASPs) qualify for tax benefits, which include an exemption on up to $100,000 held in cryptocurrency.

Gold Achieves Record Peak

Gold prices surged to a new record, hitting $2,451.44 per ounce, driven by rising expectations for a Federal Reserve rate cut and increased speculation on Trump's re-election. This peak surpasses the previous record from late May, fueled by signs of slowing U.S. inflation and anticipated Fed rate cuts.

Trump to Launch Fourth NFT Series, Affirms Cryptocurrency's Longevity

Trump revealed plans for a fourth NFT series, highlighting in a Bloomberg Businessweek interview that his previous collection rapidly sold out 45,000 cards in one day. Initially mentioned at a Mar-a-Lago event without commitment, Trump attributes the success of the first three series to effective supply and demand dynamics.

TRC20-USDT Circulation Exceeds 60 Billion

TRONSCAN reports that TRC20-USDT issuance has hit a record 60.849 billion, crossing the 60 billion threshold for the first time. Presently, there are 47.3 million accounts holding TRC20-USDT, with the cumulative number of transactions surpassing 1.85 billion.

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