FameEX Morning Crypto News Recap | October 8, 2024

Crypto Market Financing Declines to $641 Million in September 2024

According to RootData, the crypto market's total financing in September 2024 was $641 million, marking a 9.6% drop from $709 million in September 2023 and an 18.6% decrease from $788 million in August 2024. The number of financings fell to 101, down 9.8% from August. The top three categories were other, CeFi, and DeFi.

ECB Officials Introduce "European Ledger" Concept to Foster Digital Asset Integration

European Central Bank officials proposed a "European ledger," a unified platform to integrate digital assets and currencies, enhancing efficiency and synergy. ECB board member Piero Cipollone noted that Europe's traditional capital markets are fragmented and face inconsistent legislation, offering an opportunity to establish a digital capital markets union to resolve these challenges.

Global Cryptocurrency Adoption Expected to Exceed 8% by 2025

Matrixport's October 7 report shows that 7.51% of the global population now uses digital currency, with adoption expected to surpass 8% by 2025. The report emphasizes that increased institutional involvement, particularly from firms like BlackRock, has helped legitimize cryptocurrencies and integrate them into the mainstream financial system, contributing to steady market growth.

DOJ and SEC Support Investor Class-Action Lawsuit Against Nvidia

The U.S. Department of Justice and the SEC asked the Supreme Court to approve a class action lawsuit against Nvidia investors, alleging the company misled sales data related to crypto miners. On October 2, U.S. Attorney General Elizabeth Prelogar and SEC lawyer Theodore Weiman argued there is sufficient evidence to revive the case in appeals court.

Tether's User Base Exceeds 350 Million as Market Share Continues to Grow

Tether, the company behind USDT, announced that its user base surpassed 350 million on October 7, reaching this milestone 10 years after its 2014 launch. Over the past year, Tether experienced a 24% growth in users, increasing from 141 million in 2022 to 282 million in October 2023,, showcasing its rapid expansion.

Hong Kong Securities and Futures Commission Outlines Four Strategic Priorities to Strengthen Regulation of Virtual Asset Trading Platforms

In honor of its 35th anniversary, the Hong Kong Securities and Futures Commission (SFC) announced four strategic priorities: enhancing regulation of virtual asset trading platforms, supporting tokenization of traditional products, utilizing blockchain and Web 3 technologies, and finalizing the regulatory framework by next year. These initiatives aim to modernize and advance Hong Kong's financial system.

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