FameEX Morning Crypto News Recap | March 15, 2024

'Market Analyst Predicts Renewed General Interest in Cryptocurrencies as DOGE Achieves Record Highs'

Scott Melker, the "Wolf of All Streets," predicts a comeback of widespread crypto interest, spurred by previous excitement over Dogecoin and NFTs. He points to the last bull market's focus on these assets as a sign that public enthusiasm for cryptocurrencies may reignite, hinting at a potential revival of mainstream crypto FOMO.

Elon Musk Endorses Dogecoin for Tesla Purchases, Proclaims 'To the Moon with DOGE'

Elon Musk, the head of Tesla and SpaceX, supports Dogecoin as a payment method for Tesla vehicles, driven by his staff's enthusiasm. With the rallying cry "Dogecoin to the moon," Musk shows a preference for the meme cryptocurrency over Bitcoin, which is popular among wealthier circles, seeking to better align with his employees' wishes.

Tether Joins Forces with US Government to Recover $1.4 Million from a Self-Custody Wallet

Tether, the creator of the dominant stablecoin USDT, assisted the U.S. in seizing $1.4 million tied to an alleged scam, involving funds from a non-custodial wallet. The Northern District of Illinois U.S. Attorney’s Office highlighted this event as a pioneering case of USDT recovery by the U.S., underscoring a pivotal development in the realm of financial regulation.

Bitcoin Mining Difficulty Sets New Record as 2024 Halving Event Approaches

The Bitcoin network experienced a 5.79% rise in difficulty at block 834,624 on Thursday, marking the fourth increase this year. This surge set a new all-time high for mining difficulty at 83.95 trillion. Anticipated around March 27, 2024, the upcoming difficulty adjustment will further highlight the evolving challenges and dynamics in the realm of Bitcoin mining.

Microstrategy to Raise $500 Million Through Convertible Notes for Expanding Bitcoin Portfolio

On March 13, Microstrategy, a company from Virginia, revealed plans to secure $500 million by offering convertible notes that will mature in 2031. This move, consistent with their historical fundraising strategies, is intended for acquiring bitcoin and managing various corporate expenses, underscoring their ongoing commitment to investing significantly in the digital currency.

Federal Reserve Highlights CBDCs as One of Seven Principal Obligations in Congressional Report

U.S. Representative Tom Emmer, a known CBDC opponent, states the Federal Reserve maintains its focus on creating a U.S. central bank digital currency (CBDC). Highlighted among the Fed's seven "Key Duties" for its payment systems are the Automated Clearinghouse and FedNow—both electronic payment mechanisms poised to support the Fed's objective of transitioning the U.S. dollar into a more digital form, underscoring ongoing efforts towards CBDC development.

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