FameEX Morning Crypto News Recap | October 17, 2024

Even if Tesla Sells Its Bitcoin, the Impact Would Be Only Slightly More Than Half of the German Government's

CryptoQuant CEO Ki Young Ju stated that Tesla's recent transfer of $770 million in Bitcoin would have less market impact if sold, amounting to just over half of the German government’s $816 million profit, with Tesla’s potential profit at $515 million.

Vitalik Buterin Suggests Lowering Ethereum Staking Threshold to 1 ETH and Reducing Block Confirmation Time

Vitalik Buterin proposed reducing Ethereum’s staking threshold from 32 ETH to 1 ETH to attract more independent stakers, as he believes the current limit restricts participation. He also suggested shortening transaction finalization time from 15 minutes to 12 seconds to improve network speed and efficiency.

Tether Reveals USDT User Base Hits 330 Million, Growth Accelerating

Tether announced that USDT adoption surged to 330 million on-chain wallets and accounts by the end of Q3 2024, matching the U.S. population. The user base has grown at an average rate of 9% over the past year, with a record 36.25 million new users in Q3 2024.

Hong Kong Chief Executive John Lee Promotes Central Bank Digital Currency and Virtual Asset Trading

On October 16, Hong Kong Chief Executive John Lee stated that the government will promote policies and guidelines for using artificial intelligence in innovative financial services, covering central bank digital currency, mobile payments, virtual banks, virtual insurance, and virtual asset trading.

Ireland’s Finance Minister to Draft Urgent Legislation for Updating Cryptocurrency Regulations

On October 16, the European Union rolled out new regulations to address money laundering and terrorist financing. In response, Irish Finance Minister Jack Chambers pledged to draft urgent legislation to update the country's cryptocurrency regulations, though he did not specify the details or timeline for the new rules.

El Salvador: Just 7.5% Use Cryptocurrency, While 58% Support the President

A survey by Francisco Gavidia University in El Salvador revealed that 58% of respondents support President Nayib Bukele's administration, yet only 7.5% use cryptocurrencies for transactions. While Bukele enjoys strong backing, his Bitcoin policy has seen limited adoption among the public.

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