FameEX Morning Crypto News Recap | February 7, 2025

U.S. House of Representatives Holds Hearing on Biden Administration's Cryptocurrency Crackdown

The U.S. House Financial Services Committee's Oversight and Investigations Subcommittee will hold a hearing on February 6 at 2:00 PM ET. The session, titled "Choke Point 2.0: How the Biden Administration Will Crack Down on Cryptocurrencies," will address the banking service restrictions imposed on the crypto industry.

SEC Confirms Receipt of Grayscale's Solana 19b-4 Filing

The U.S. Securities and Exchange Commission (SEC) has acknowledged receipt of Grayscale's Solana 19b-4 document submission. This marks a shift, as the SEC had previously declined to process submissions related to Solana.

U.S. Legislators Call for Legal Protections for NFTs in Digital Asset Regulation

U.S. Congressmen William Thiemens and Richard Torres are advocating for the inclusion of legal protections for NFTs in the Digital Asset Regulatory Framework Act.

Ethereum to Unveil Pectra Upgrade in April 2024, Focusing on Improved Wallet and Validator Capabilities

Ethereum developers have announced the testing date for the Pectra upgrade, set for release in April 2024. This first upgrade in 11 months will focus on enhancing wallet and validator functionality, bringing several key improvements to the network.

Bitcoin Supply in Asia Pacific Rises 6.4% Year-on-Year Driven by Increased Retail Investor Demand

Glassnode's analysis shows that retail-driven Bitcoin activity in the Asia-Pacific region is outpacing the U.S. and EU. Since December 2022, Bitcoin supply in Asia-Pacific rose by 6.4%, while it fell by 5.7% in the U.S. and 0.7% in the EU, reflecting growing demand from retail investors in the region.

Ethereum's Market Capitalization Reaches Lowest Point in Four Years

JPMorgan analysts highlighted Ethereum’s market capitalization dropping to a four-year low, driven by increasing competition. Despite a growing crypto market, Ethereum has underperformed against Bitcoin and other tokens. This decline is attributed to the lower fees and better scalability offered by public chains like Solana and second-layer solutions.

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