FameEX Morning Crypto News Recap | August 14, 2024

Fed's Bostic Hints at Possible Rate Cut by Year-End

On August 14, Fed President Bostic suggested a rate cut is likely by year-end, depending on data confirming a sustained inflation trend. He emphasized the need to avoid raising rates again after a cut and noted that, if the economy meets expectations, a rate cut could happen before the year's end.

US Senator Ted Cruz Claims Bitcoin Enhances Texas Power Grid Security

U.S. Senator Ted Cruz highlighted Bitcoin's potential to enhance the power grid's resilience, describing it as an "energy storage device" and a "safety guarantee" for Texas. He emphasized its benefits for improving energy stability in the state.

South Korea's Unemployment Rate Falls to Lowest Since October, Central Bank May Delay Policy Change

South Korea's unemployment rate fell to 2.5% in July, the lowest since last October, with 172,000 more employed year-on-year and a 64.9% labor force participation rate. This bolsters the argument for maintaining restrictive monetary policy amid rising housing concerns. The Bank of Korea is likely to keep policy unchanged at its upcoming meeting.

Kamala Harris's Chances of Winning the 2024 US Presidential Election Now at 77%

On August 13, Harris's chances of winning the popular vote on Polymarket rose to 77%, while Trump's were reported at 21%, highlighting the latest changes in election predictions.

Harris Administration Set to Maintain Biden's Strict Cryptocurrency Regulation Policy

Alex Thorn, research director at Galaxy Research, predicts that Vice President Harris will likely maintain the Biden administration's strict cryptocurrency regulations. Her advisory team includes key figures like Brian Deese and Bharat Ramamurti, who played major roles in Biden's regulatory efforts, signaling a continued tough stance on cryptocurrencies under Harris.

US Justice Department Considers Breaking Up Google, Possibly Splitting Android and Chrome

After a landmark antitrust win, the US Department of Justice is considering breaking up Google. Sources suggest that the Android operating system and Chrome browser are the top candidates for divestment. Additionally, officials may push for the sale of AdWords, Google's text ad platform.

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