FameEX Morning Crypto News Recap | October 9, 2024

Fed Governor Kugler: Seeking a Balanced Strategy to Address Inflation

Federal Reserve Governor Kugler stressed the importance of a "balanced approach" to managing inflation without hindering employment and economic growth. He indicated that faster rate cuts might be needed if employment risks intensify, but if inflation data shows insufficient progress toward the 2% target, a slower normalization process may be more suitable.

Harris Leads Trump by 6 Points in Polls with 51% Support

On October 8, a Newsweek poll showed Harris leading Trump by a record margin. The Morning Consult survey, conducted from October 4 to 6, found Harris with 51% support, 6 points ahead of Trump at 45%. The poll included 11,353 likely U.S. voters, with a margin of error of +/- 1 percentage point.

Bitcoin Mining Daily Revenue Falls to $31 Million as Mining Stocks Show Strong Performance

Matrixport reported a sharp decline in daily Bitcoin mining revenue from $70 million to $31 million following the April 2024 halving. Despite this, mining stocks have remained stable and outperformed expectations. Many mining companies are holding their Bitcoin inventory, reducing market selling pressure by avoiding sales on exchanges.

South Korea’s Ministry of Economy and Finance Considers Solutions for Cross-Border Stablecoin Transactions

South Korea's Ministry of Economy and Finance is considering steps to ensure the integrity of cross-border stablecoin transactions. The ministry noted that while stablecoins are mostly used within the cryptocurrency ecosystem, they have the potential to expand into the real economy as a cross-border payment and transaction tool, highlighting their increasing relevance beyond crypto.

JPMorgan Chase CEO Dimon: Artificial Intelligence Will Revolutionize Many Areas

JPMorgan Chase CEO Dimon emphasized that artificial intelligence is real and will greatly impact various sectors, providing people with assistants and enhancing fundraising through private capital. He also revealed that JPMorgan Chase has hired 1,000 AI specialists to lead this transformation within the company.

X Social Platform May Lift Ban After Paying 28.6 Million Brazilian Reals Fine

Brazilian authorities may lift the ban on Elon Musk's social platform X after it paid a 28.6 million Brazilian reals fine (around $5.5 million). On October 7, X met the conditions for reinstatement. The platform was suspended in August by Brazil's Supreme Federal Court for failing to comply with an investigation into the spread of false information.

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