FameEX Morning Crypto News Recap | August 14, 2023

Tether's Grip Surpassed 80% in the Brazilian Cryptocurrency Market Throughout Q1 and Q2 of 2023
During Q1 and Q2 2023, USDT, the leading stablecoin, dominated the Brazilian crypto market, constituting over 80% of transactions. Data from the Brazilian tax authority revealed that USDT was utilized in transactions worth over 90 billion reales (nearly $18.4 billion) in the country.

DeFi Sector Rebounds: Total Locked Value Approaches $42 Billion as Token Market Expands
Despite nearing $40 billion on August 2, the decentralized finance (DeFi) sector rebounded, surpassing $41 billion in locked value. Furthermore, the DeFi crypto segment expanded significantly to $45.08 billion, with a notable 6.17% increase occurring within a single day.

Amidst Gold's Recent Decline, Analysts Forecast a Radiant Future with Potential Highs Surpassing $2,500 by 2024
Gold and silver have recently experienced declines, with gold down over 2% in the last month and silver dropping over 5% against the U.S. dollar. Despite this, David Neuhauser, founder of Livermore Partners, predicts gold could reach $2,500 by the end of 2024, despite its recent lackluster performance.

Zimbabwean Central Bank Plans to Utilize Gold-Backed Tokens for 'Transaction Purposes'
Zimbabwe's central bank is nearing the launch of gold-backed digital tokens for transactions, viewed as an effective monetary policy tool. A consumer survey revealed limited awareness of the upcoming central bank digital currency (CBDC), according to Governor John Mangudya.

Ex-SEC Official Cautions About Perpetual 'Crypto Regulatory Onslaught'
The ex-chief of internet enforcement at the U.S. SEC has cautioned that the continuous "crypto regulatory onslaught" is here to stay due to the agency's crucial mission of safeguarding investors, ensuring fair markets, and promoting capital formation. The importance of this mission makes relenting unlikely.

Peter Schiff Cautions Investors About 2 'Significant Surprises' - Anticipates Inflation Beyond Fed Rate Cuts' Boost'
Economist Peter Schiff predicts "two significant surprises" for investors, highlighting the Federal Reserve's struggle against inflation. He anticipates that when the U.S. economy enters a recession, inflation will be too elevated for the Fed to counter with interest rate cuts, signaling a challenging scenario.

Imminent Surge in Oil Prices as Supply Tightens and Demand Breaks Records
Global oil prices could witness a notable surge due to diminishing supply and surging demand. With depleting reserves, constrained OPEC capacity, and major consumers like China and India buying discounted Russian crude in large amounts, the International Energy Agency's August report suggests a sustained increase in oil prices is probable.

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