FameEX Morning Crypto News Recap | August 24, 2023

Bitcoin Miners Conquer Unprecedented Challenges During August's Dual Difficulty Spike
Bitcoin miners faced increased challenges as mining difficulty rose for the second consecutive time this month. A 6.17% surge on August 22, at block height 804,384, set a new difficulty peak for the cryptocurrency, intensifying miners' efforts to secure block rewards.

BRICS Bank Chair Affirms: Local Currencies Serve the System, Not as Dollar Replacements
Under Dilma Rousseff's leadership, the BRICS development bank seeks a diverse global financial landscape by encouraging lending in member states' local currencies like the South African rand and Brazilian real, thereby promoting a multipolar financial system.

Economist Asserts: Chinese Yuan Lacks Significance in Challenging US Dollar's Dominance
An economist downplays the Chinese yuan's influence on the US dollar's dominance due to its small global reserve share below 3%. They highlight the yuan's limited threat to dollar hegemony, with experts anticipating a future 'multi-currency' world and reduced dollar influence, as per the economist's view.

China Unveils Blockchain-Powered Data Exchange Initiative
China unveiled a blockchain-powered data exchange at the Hangzhou Summit, attracting 300+ enterprises such as Alibaba Cloud and Huawei. This platform facilitates Web3 data trading among companies, featuring participation from Alibaba Cloud and Huawei.

Thailand's Future Prime Minister, Srettha Thavisin, Holds Crypto Experience
Srettha Thavisin, a real estate tycoon, secured Thailand's prime minister position on August 22 via parliamentary election. His prior role as CEO of Sansiri, a prominent real estate firm, ties him to cryptocurrency due to the company's endorsement of projects like XSpring during his leadership.

Enhanced Settlement Speeds with CBDCs Revealed in Global Securities Firms' Citi Survey
Citi's research indicates rising support for CBDCs via domestic trials and cross-border initiatives. The drive to abbreviate financial settlement cycles within five years prompts numerous securities firms to contemplate adopting central bank digital currencies (CBDCs).

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