FameEX Morning Crypto News Recap | September 9, 2024

Fed Governor Waller: We will back ongoing or significant rate cuts if supported by data

Fed Governor Waller stated that it's time to begin a series of rate cuts this month, expressing openness to the size and pace of reductions. He emphasized that if the data justifies multiple cuts, he'll support them, and if larger cuts are necessary, he will back those as well.

U.S. Treasury Secretary Yellen: Economy is strong, employment data suggests a soft landing

U.S. Treasury Secretary Janet Yellen expressed confidence in the U.S. economy's health, citing recent cooling employment data as a sign of a soft landing, not a recession. She emphasized there have been no major layoffs and the economy is in strong recovery, assuring that there are no alarming signs of economic trouble.

Russia mined 54,000 Bitcoins in 2023, yielding 50 billion rubles in tax revenue

In 2023, Russia mined approximately 54,000 Bitcoins, valued at over $3 billion, generating around 50 billion rubles in tax revenue. Bezdelov, president of the Russian Industrial Mining Association, believes that the recent legalization of crypto mining will attract more investors and boost future tax revenues further.

OpenAI surpasses one million paid users, valuation could hit $100 billion

OpenAI's paying users, including ChatGPT Enterprise, Team, and Edu, have increased by 67% since April, surpassing one million by September 5. The company plans to introduce subscription plans costing up to $2,000 per month. With Apple and Nvidia expressing investment interest and Microsoft holding a 49% stake, OpenAI's valuation could reach $100 billion.

Musk projected to become the world’s first trillionaire by 2027

Reports predict Elon Musk will become the world’s first trillionaire by 2027, with his wealth from Tesla, SpaceX, and X growing at an annual rate of 110%. Currently worth $251 billion, Musk is followed by Indian tycoon Gautam Adani, projected to become the second trillionaire by 2028, with a 123% annual growth rate.

Mitsubishi UFJ Bank and partners to launch stablecoin platform pilot for cross-border transfers

Mitsubishi UFJ Bank, Sumitomo Mitsui, and Mizuho Bank are launching "Project Pax," a stablecoin platform to facilitate cross-border transfers. Supported by Progmat for stablecoin issuance, along with SBI Holdings and Japan Exchange Group, the project will begin with a prototype and aims for full commercialization by 2025.

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