FameEX Morning Crypto News Recap | August 15, 2024

U.S. Senate Targets Year-End Passage for Cryptocurrency Regulation Bill

On August 15, U.S. Senate Majority Leader Chuck Schumer announced at the Crypto4Harris Town Hall Meeting that Congress plans to pass a cryptocurrency regulation bill by year-end. He stressed the importance of balanced legislation that fosters innovation while establishing common-sense safeguards, underscoring Congress's duty to implement reasonable regulation.

Over 7 Million Bitcoin Addresses Are Currently Underwater

IntoTheBlock data shows that over 7 million Bitcoin addresses, bought between the current price and the all-time high, are currently at a loss. Despite Bitcoin's struggles to surpass $70,000, market sentiment remains positive as it rebounds above $60,000.

Japanese Stocks Rise on Stronger-Than-Expected Economic Growth

Japanese stocks rose as economic growth data exceeded expectations, with Australian stocks also gaining. Inflation data reinforced expectations of a Federal Reserve rate cut next month. Evercore highlighted that the Fed is now focusing more on labor data than inflation, with future labor reports likely influencing the extent of rate cuts.

Federal Reserve Analyst: US Inflation Issue Remains Contentious

Federal Reserve analyst Nick Timiraos noted ongoing debates about US inflation. Some believe the mild inflation in late 2023 is an outlier, suggesting inflation remains uncontrolled. Others think the strong data in early 2024 is an anomaly, interrupting a trend of near-target inflation readings that began last summer.

Trump Organization to Reveal Cryptocurrency Plan, Possibly Featuring Digital Real Estate

The Trump Organization is set to launch a new cryptocurrency initiative. Executive Vice President Eric Trump announced the project will be revealed soon, withholding specifics but hinting it may involve "digital real estate" and enable lending or borrowing. The details will be disclosed publicly once "everything is ready."

MetaMask Unveils Blockchain Debit Card, Launching Pilot in EU and UK

MetaMask, in collaboration with Mastercard and Baanx, has introduced a blockchain-based debit card. The card is currently available in a limited pilot for users in the EU and UK, with a few thousand digital cards issued. A full launch in these regions is set for later this year, with additional pilots planned for other regions soon.

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