FameEX Morning Crypto News Recap | July 25, 2023

AI Crypto Market's Value Plunges by $1.42B Since February Peak; Top Tokens Witness Weekly Declines
In February 2023, the AI-driven crypto market reached $4 billion but later faced a substantial $1.42 billion decline. Recently, eight leading AI-based crypto tokens saw declines against the U.S. dollar in the past week.

Harnessing Heat for Profit: Bitcoin Miners Convert Warmth into Satoshis
Bitcoin miners creatively repurpose ASIC mining rig heat, as shown by "Rev.Hodl" on Twitter, using a miner for laundry drying while earning satoshis. This dual-purpose approach highlights the versatility of mining equipment for practical applications and additional incentives.

Algeria's $1.5B BRICS Bid: Pursuing Membership Prospects?
Algerian President Abdelmadjid Tebboune seeks BRICS membership, with a $1.5 billion contribution as a shareholder in the bank. He anticipates this alignment with major emerging economies to unlock promising economic opportunities for all nations involved.

Ripple Bolsters Commitment to Asian and European Markets Following Legal Triumph in the US
Ripple focuses on crypto markets with clear regulations, targeting Asia (Singapore, Hong Kong) and planning expansion in the UK and Europe after its recent US court win. Executives revealed these strategic moves in media reports.

Russia Adopts Digital Ruble as Putin Signs New Legislation
President Vladimir Putin signs the digital ruble bill into law on July 24, advancing Russia's central bank digital currency (CBDC). The new legislation is scheduled to take effect from August 1, 2023, with all regulations ready for implementation, except one.

Bitcoin Standard Adoption: UK Carpet Retailer Moves from Rugs to Riches
Amidst rising inflation and low bank interest rates, a UK online carpet and flooring retailer has diversified its balance sheet by acquiring Bitcoin. Joining the ranks of Tesla, MicroStrategy, and Real Bedford, small businesses explore inventive measures to secure finances and capitalize on the cryptocurrency's potential value.

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