FameEX Morning Crypto News Recap | August 2, 2023

Ron DeSantis Promises to Stop Biden's Attack on Bitcoin and Cryptocurrency During Presidency
Ron DeSantis, Florida Governor and U.S. presidential candidate, vows to end Biden's crypto restrictions if elected. He further commits to eliminating Central Bank Digital Currency (CBDC) from the agenda immediately upon taking office.

FTX Announces Restructuring Initiative: Introducing 'Offshore Crypto Exchange' and New Trust
During bankruptcy proceedings, FTX presents its reorganization plan to the U.S. court, seeking to become an "offshore crypto exchange" and create a new limited liability trust. The plan aims to achieve an all-inclusive settlement with creditors, encompassing customers and related FTX entities.

New IRS Tax Guidelines for Crypto Staking Now Available
U.S. citizens who earn income through cryptocurrency staking services are now required by the IRS to consider the value of received digital assets as gross income upon receiving the staking rewards.

Iran Expands Efforts to Join BRICS, Enhances Ties With Member Countries
Iran is actively seeking BRICS membership and enhancing economic ties with member countries, including China, Russia, and India, in preparation for the upcoming summit, as per the Iranian deputy foreign minister for economic diplomacy.

European Digital Asset Manager CoinShares Sees 33% Revenue Surge in Q2
In Q2 2023, CoinShares, a leading European digital asset manager offering BTC, ETH, and various altcoin crypto exchange-traded products (ETPs), achieves impressive revenue of £20.3 million ($25.9 million), showing a notable 33% increase compared to the previous year's corresponding quarter.

MicroStrategy Reports Profit and Bolsters Bitcoin Reserves to $4.4B
MicroStrategy, led by Michael Saylor, announces holding 12,800 Bitcoins as of July 30 and achieving profitability. Their Q2 earnings report, posted on Aug. 1, displays a net income of $22.2 million, a remarkable recovery from a $1.1 billion net loss in the prior year. Total revenues remain relatively steady at $120.4 million.

Robert Kiyosaki Issues Warning on US Economy, Declares America as Financially Struggling — Reiterates Bitcoin Preference
"Rich Dad Poor Dad" author Robert Kiyosaki cautions about the US economy's fragility and America's financial challenges. He attributes the stock market surge to President Joe Biden's raised debt ceiling. Despite economic concerns, Kiyosaki reaffirms his preference for gold, silver, and bitcoin as safe assets.

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