FameEX Morning Crypto News Recap | September 11, 2024

U.S. Congress Examines the Future of DeFi and Regulatory Challenges

The U.S. House Financial Services Committee held its first post-recess hearing on decentralized finance (DeFi). Organized by the Digital Assets, Fintech, and Inclusion Subcommittee, the hearing, titled “Decoding DeFi: Analyzing the Future of Decentralized Finance,” focused on discussing the future and regulatory challenges of the DeFi sector.

Analyst Cautions: Fed Rate Cuts Often Signal Recession, Advising Investors to Prepare

Peter Berezin, chief global strategist at BCA Research, cautions investors to brace for a potential U.S. recession, noting the Federal Reserve may be unable to prevent it. He highlights past recessions that followed rate cuts in 2001 and 2007, urging investors to adjust their strategies in response.

SpaceX Launches Spacecraft with Four Astronauts for Historic First Private Spacewalk Mission

Arkham, an on-chain data analysis platform, reported on X (formerly Twitter) that SpaceX successfully launched a spacecraft with four astronauts for the first private spacewalk mission. Additionally, SpaceX’s marked addresses hold nearly $500 million in Bitcoin.

Exchange USDT Holdings Have Surged Significantly Since August

CryptoQuant analyst Yonsei_dent noted a sharp rise in USDT stablecoin holdings on exchanges since August. This inflow is often seen as funds preparing for asset purchases, potentially boosting cryptocurrency prices.

Standard Chartered Bank Introduces BTC and ETH Custody Services in the UAE

Standard Chartered Bank will provide cryptocurrency custody services in the UAE, supporting BTC and ETH. This service, launched in partnership with Brevan Howard Digital, the crypto division of hedge fund Brevan Howard, is licensed by the Dubai Financial Services Authority (DFSA).

Putin Asserts Russia as a Global Leader in Bitcoin Mining

At the Eastern Economic Forum, President Vladimir Putin stated that Russia has become a global leader in Bitcoin mining. He noted that surplus energy from regions like Siberia can be used for mining but stressed that such activities must not hinder regional development.

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