FameEX Morning Crypto News Recap | December 5, 2024

10 U.S. States Prepare to Introduce Strategic Bitcoin Reserve Legislation

Dennis Porter, co-founder of the Satoshi Act Fund, announced that several U.S. states are set to propose sovereign Bitcoin reserve legislation. Porter is lobbying policymakers in 10 states to introduce the legislation and shared the update on X (formerly Twitter).

Altcoin Market Cap Jumps 78.16% in a Month, Still Below 2021 Peak

Since November 4, altcoin market capitalization increased by 78.16%, reaching $1.55 trillion from $870 billion, though still below the $1.71 trillion peak in November 2021. Bitcoin's market share fell from 61.35% to 55.17%, yet remains higher than the 45% share seen in the same period of 2021.

Trump's Proposal to Eliminate Capital Gains Tax on U.S. Coin Issuance Sparks Altcoin Market Surge

QCP Capital on December 4 linked the altcoin market surge to Trump’s November proposal to remove capital gains taxes on U.S. company-issued cryptocurrencies. The market frenzy has also been fueled by rising expectations for a crypto-friendly U.S. cabinet, further boosting investor sentiment in the altcoin space.

New York Mayor Applauds Cryptocurrency Salary Move as Bitcoin Price Rises

New York Mayor Eric Adams praised his decision to take a cryptocurrency salary, calling it wise as Bitcoin approaches $100,000. In January 2022, he converted his first three months' salary, approximately $30,000, into Bitcoin and Ethereum. His choice is now viewed as a smart financial move.

BTC Digital to Install 2,000 Bitmain T21 Miners in North American Mining Farms

BTC Digital confirmed a successful partnership with Bitmain, aiming to deploy 2,000 Bitmain T21 miners at North American mining farms in the next 3 to 6 months. This expansion will increase BTC Digital's total computing power to 600P, nearly doubling its current capacity.

Japan's Prime Minister Cautious on Separate Taxation of Crypto Assets, Considering Tax Reforms

Japanese Prime Minister Shigeru Ishiba expressed caution regarding the proposal for a 20% separate tax on crypto assets during a House of Representatives meeting. He stressed the need to carefully assess public understanding of self-assessed taxes before proceeding with the policy.

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