FameEX Morning Crypto News Recap | April 9, 2024

Ripple's CEO Predicts Doubling of Crypto Market Cap This Year, Expressing High Optimism

Ripple's CEO, Brad Garlinghouse, is highly optimistic about the crypto market's future, anticipating its market cap might double this year. He points to macro trends, especially the introduction of spot bitcoin ETFs, as key drivers bringing significant institutional investments into the cryptocurrency world for the first time.

Hester Peirce Criticizes SEC, While Gurbir Grewal Dismisses Criticism of the Agency

SEC Commissioner Hester Peirce has again criticized her own agency, particularly targeting its guidance on crypto custody and advocating for increased public engagement. In contrast, Gurbir Grewal, the SEC's Division of Enforcement director, has countered claims suggesting the regulator is improvising rules for cryptocurrencies, defending the SEC's approach to the rapidly evolving sector.

March Saw a 39% Decline in PayPal Stablecoin Circulation

Since late February, PayPal USD's market capitalization has seen a decline, falling from an all-time high of $312 million on February 26. The circulation of PayPal USD reached peaks of $304 million in February and $301 million in January. By March 2024, the total circulation had decreased to $188.5 million, marking a 39% reduction from February's figures.

Japan's Inflation Expectations Measure Reaches All-Time High Amid Rising Living Costs Due to Weak Yen

Investors' inflation expectations in Japan have reached a record high, exacerbated by the yen's weakness, which contributes to increasing living costs. Martin Whetton, Westpac Bank's head of market strategy in Sydney, attributes the spike in break-even inflation to rising energy prices and the yen's depreciation, indicating significant economic pressures.

Thai Prime Minister Srettha Urges Central Bank to Reduce Interest Rates by 25 to 50 Basis Points

At a central bank meeting on Wednesday, Thai Prime Minister Srettha advocated for a reduction in the policy interest rate by 25 to 50 basis points. He expressed his belief that such rate cuts should have commenced at the end of the previous year.

OpenAI's CEO Partners with Ex-Apple Design Head to Create AI-Driven Personal Gadgets, Aiming for $1 Billion Investment

Sam Altman of OpenAI and ex-Apple designer Jony Ive have united to innovate an AI-driven personal device, targeting $1 billion in funding. They're in discussions with notable investors including SoftBank's Masayoshi Son, Thrive Capital, and Emerson Collective, highlighting significant interest in this cutting-edge venture.

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