FameEX Morning Crypto News Recap | October 14, 2024

Private Bitcoin Holders Now Hold More Than Governments

Statistics reveal that ordinary users hold about 11.97 million bitcoins, exceeding governments' about 500,000 holdings, highlighting a notable shift in Bitcoin ownership dynamics.

2024 Ranking of Top Countries for Cryptocurrency Business Unveiled: Dubai, Switzerland, and South Korea Lead the Pack

The 2024 ranking of top countries for cryptocurrency business names Dubai, Switzerland, and South Korea as the leading destinations. Dubai tops the list with its regulatory clarity, no capital gains tax, 9% corporate tax, and affordable licensing fees. Other top-ranked countries include Singapore, the U.S., Estonia, Italy, Russia, Germany, and Brazil.

USDT Balance on Crypto Exchanges Surges 146% to All-Time High

On October 12, Onchain HQ research director Leon Waidmann reported on X that USDT balances on major cryptocurrency exchanges surged 146%, reaching a record $22.7 billion. Historically, such increases have signaled strong upcoming buying pressure for Bitcoin and the broader crypto market.

South African Revenue Service Plans to Integrate Crypto Assets into Tax Compliance Program

The South African Revenue Service (SARS) will include crypto assets in its tax compliance program, seeking information on crypto users and intensifying efforts to identify and audit taxpayers who fail to comply with crypto-related tax obligations.

Bitcoin Rally Powered by $1.5 Billion in Leverage

Cryptoquant analyst Maartunn shared on X that the ongoing Bitcoin rally is fueled by more than $1.5 billion in leverage, similar to the previous drop from $64,000 to $59,000, which was also caused by excessive leverage. He cautions that risks remain very high.

Elon Musk Confirms Starship's Successful Landing and Completion of Fifth Flight Test

Elon Musk announced on X that Starship successfully landed on its target, achieving its second key objective. NASA Administrator Bill Nelson highlighted that further testing will prepare for future missions to the lunar south pole and Mars. Musk expressed enthusiasm for helping NASA return humans to the moon.

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