FameEX Morning Crypto News Recap | August 14, 2024

Fed's Bostic Suggests Potential Rate Cut Before Year-End

On August 14, Fed President Bostic indicated that a rate cut is likely by year-end, contingent on further data confirming a real inflation trend. He stressed the importance of avoiding a scenario where rates must be raised again after a cut, noting that if the economy performs as expected, a rate cut could occur before year-end.

US Senator Ted Cruz Asserts Bitcoin Strengthens Texas Power Grid Security

U.S. Senator Ted Cruz emphasized Bitcoin's role in boosting the power grid's resilience, calling it an "energy storage device" and a "safety guarantee" for Texas, highlighting its potential benefits for energy stability.

South Korea's Unemployment Rate Hits Lowest Since Last October, Central Bank May Postpone Policy Shift

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

Kamala Harris's Odds of Winning the 2024 US Presidential Election Increase to 77%

On August 13, Harris's chances of winning the popular vote on the prediction market Polymarket climbed to 77%, while Trump's chances were temporarily reported at 21%, reflecting the latest shifts in election predictions.

Harris Administration to Uphold Biden's Strict Cryptocurrency Regulation Policy

Alex Thorn, research director at Galaxy Research, suggests that Vice President Harris is likely to continue the Biden administration's strict cryptocurrency regulatory policies. Her advisory team includes key anti-cryptocurrency officials like Brian Deese and Bharat Ramamurti, both of whom were instrumental in Biden's regulatory efforts. This indicates a continuation of a tough stance on cryptocurrencies under Harris.

US Justice Department Weighs Breaking Up Google, Potentially Targeting Android and Chrome

Following a landmark antitrust victory, the US Department of Justice is contemplating a breakup of Google. Sources indicate that the Android operating system and Chrome browser are the most likely divisions to be divested. Additionally, officials are considering forcing the sale of AdWords, Google's platform for selling text ads.

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