FameEX Morning Crypto News Recap | January 9, 2024

SEC Chief Gary Gensler Issues Alerts on Cryptocurrency Before Decision on Spot Bitcoin ETF

SEC Chairman Gary Gensler has issued a warning to investors about the potential risks associated with crypto investing, especially with the anticipation of spot bitcoin ETF approvals. He underlined the possibility of investors being uninformed and unprotected in their crypto investments, underscoring the importance of vigilance in this evolving financial field.

Morgan Stanley's Top Economist Projects Rate Decreases ‘This Year’ in View of Federal Reserve's Imminent Decisions

Investors are keenly focused on the U.S. Federal Reserve's decisions about the federal funds rate in 2023, with particular interest in expected rate cuts. Ellen Zentner, Morgan Stanley's top U.S. economist, foresees these cuts occurring soon. However, she emphasizes the central bank's capacity for patience, suggesting that these changes might not be implemented immediately.

Bitcoin Market Analysis: BTC Traders Gear Up for Potential ETF Approval

The crypto community is highly attentive to the SEC's upcoming decision on a spot bitcoin ETF, significantly influencing bitcoin's pricing trends. This situation has led to a nuanced mix of investor emotions and market predictions. Traders are debating whether the approval might instigate a "buy the rumor, sell the news" effect or result in a marked bullish turn in the market.

Visa Incorporates Web3 Innovations into New Customer Loyalty Platform

Visa, a leader in credit payment technology, plans to integrate Web3 elements into its custom loyalty programs. Teaming up with Smartmedia Technologies, a startup specializing in Web3 loyalty rewards, Visa aims to revolutionize these programs with advanced features like virtual worlds, digital wallets, and gamified rewards, representing significant innovation in loyalty program offerings.

Central Banks Maintain Gold Buying Spree - 44 Tonnes Purchased in November

Senior analyst Krishan Gopaul from the World Gold Council disclosed that in November, central banks globally bolstered their gold reserves. As per the International Monetary Fund (IMF) and public records, a total of 44 tonnes of gold were added, with Turkey's Central Bank leading by acquiring 25 tonnes.

Japanese E-Commerce Powerhouse Mercari to Introduce Bitcoin Payment Options in June

Mercari, Japan's leading e-commerce platform with a user base of 22 million, has seen rapid growth since its 2013 launch, achieving a 94% usage rate in just five years. Reporting a 2.8 billion yen ($19.4 million) profit in Q3 2023, its move to introduce Bitcoin payments could further propel BTC adoption in Japan's tech-forward environment.

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