FameEX Morning Crypto News Recap | September 11, 2023

"I'm Optimistic About Bitcoin" — Ted Cruz Advocates Bitcoin's Benefits for Texas and Power Grid Enhancement
U.S. Senator Ted Cruz, a Republican from Texas, expressed his bullish outlook on Bitcoin, citing its potential benefits for the state. In a recent Forbes interview, Cruz discussed reports indicating that Bitcoin mining is having a positive impact on Texas' power grid (ERCOT), underscoring his optimism about the cryptocurrency.

Crypto Company Riot Stands by Texas Power Approach Amid Allegations of State Compensation for Mining Operations
Riot Platforms, a Bitcoin mining company, is addressing allegations that Texas paid them over $30 million to curtail their power usage in August. They're defending their involvement in Texas' electricity market programs amid these claims, seeking to clarify their role and any financial compensation received from the state.

Fourth Consecutive Week of Decrease: NFT Sales Decline by 6.75%
NFT sales continued their four-week decline, decreasing by 6.75% from September 2 to September 9, 2023. The total weekly sales reached approximately $80.69 million, with a significant portion, $42.61 million, coming from the Ethereum blockchain. Despite the decline, the NFT market remains active, reflecting ongoing interest and trading in digital assets.

Indonesia Bolsters De-Dollarization Initiatives Through National Task Force Establishment
Indonesia's central bank has formed a national task force to promote the use of its local currency in trade with partner nations. Several countries, including Malaysia, Thailand, Japan, and China, already engage in currency exchange with Indonesia using local currencies. Singapore and South Korea have also signed agreements to develop a local currency transaction framework with Indonesia, as reported by the central bank.

Palau Completes Stablecoin Pilot Distribution Phase, Initiates Feedback Survey
Palau is concluding its stablecoin pilot distribution phase after a 30-day extension to explore more use cases due to increased demand. The Ministry of Finance's Jay Hunter Anson described the pilot as temporary research and development, with data collection underway for a government report.

Increase in Digital Asset Management: Nearly 50% of Asset Managers Now Incorporate Cryptocurrencies
A recent study reveals that nearly 50% of asset managers now handle digital assets as part of their portfolio management. Both large and small firms are increasingly adopting cryptocurrency strategies to serve their clients and diversify their offerings.

One in Four Investment Firms Appoint Senior Executives for Digital Asset Management
A report by Amberdata indicates that 25% of U.S. and European asset managers and hedge funds have appointed senior executives to manage digital asset strategies. The report, titled "Digital Assets: Managers’ Data Infrastructure Fuel," reveals that 24% of asset management firms have already implemented digital asset strategies, and an additional 13% plan to do so within the next two years.

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