FameEX Morning Crypto News Recap | April 9, 2024

Ripple CEO Foresees Crypto Market Capitalization Doubling in This Year, Shares Strong Optimism

Brad Garlinghouse, CEO of Ripple, foresees the cryptocurrency market's capitalization potentially doubling this year, fueled by optimism. He highlights macro trends like the launch of spot bitcoin ETFs as pivotal in attracting substantial institutional investment into crypto for the first time.

Hester Peirce Levels Criticism at SEC, Gurbir Grewal Refutes the Agency's Critique

Hester Peirce, a Commissioner at the SEC, has reiterated her criticism of the agency, specifically its policies on cryptocurrency custody and the need for greater public interaction. Meanwhile, Gurbir Grewal, director of the SEC’s Enforcement Division, refutes allegations that the regulator is formulating cryptocurrency rules on the fly, asserting a structured approach to overseeing the dynamic crypto industry.

PayPal's Stablecoin Circulation Experienced a 39% Reduction in March

PayPal USD's market cap has dropped since its peak at $312 million on February 26, after reaching highs of $304 million and $301 million in February and January, respectively. In March 2024, its circulation diminished to $188.5 million, experiencing a 39% decrease from the previous month.

Record High for Japan's Inflation Expectations Amid Soaring Living Expenses and Yen Devaluation

In Japan, investor expectations for inflation have hit an unprecedented level, driven by the declining value of the yen and escalating costs of living. Martin Whetton of Westpac Bank in Sydney points to surging energy costs and a weakening yen as key factors behind the increase in inflation expectations, highlighting the intense economic challenges faced.

Thai PM Srettha Advocates for Central Bank to Slash Rates by 25 to 50 Basis Points

In a central bank meeting, Thai PM Srettha called for cutting the policy interest rate by 25 to 50 basis points on Wednesday. He argued these reductions should have started at the previous year's end, emphasizing a proactive fiscal approach.

OpenAI CEO Collaborates with Former Apple Design Leader on AI Personal Devices, Targeting $1 Billion Funding

Sam Altman from OpenAI and former Apple designer Jony Ive are collaborating on an AI personal device project, seeking $1 billion in investments. They are currently negotiating with major investors like SoftBank's Masayoshi Son, Thrive Capital, and the Emerson Collective, demonstrating considerable backing for their innovative initiative.

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