FameEX Morning Crypto News Recap | July 18, 2023

Crypto Investment Funds Experience Surge in Inflows with Bitcoin Dominating 99% of the Market
Bitcoin remains dominant in the market as digital asset inflows experience positive growth for the fourth consecutive week, amounting to $137 million. The sustained momentum can be attributed to various factors, including a recent legal victory for the crypto community in the Securities and Exchange Commission v. Ripple lawsuit.

SEC Expresses Disappointment Over XRP Ruling's Impact on Retail Investors — Chair Gensler Teases Increased Crypto Industry Enforcement
U.S. SEC Chair Gary Gensler expressed disappointment over the SEC v. Ripple ruling on XRP, particularly concerning retail investors. He mentioned ongoing assessment of the opinion and emphasized the SEC's dedication to enforcing crypto industry regulations and ensuring compliance among crypto firms.

G20's Financial Stability Board Urges Global Crypto Regulations and Standards to Mitigate Risks of Crypto 'Spillover'
The Financial Stability Board (FSB), associated with the G20, has introduced guidelines for a global regulatory framework governing crypto assets. The FSB emphasizes the need for nations to address the risks posed by cryptocurrencies to global financial stability. They argue that recent events have highlighted the vulnerabilities of crypto assets and related entities.

Decentralized Finance Sector Stabilizes with $44B Total Value Locked (TVL) Unable to Surpass $50B Mark
The decentralized finance (defi) sector has experienced consolidation, with a total value locked (TVL) of $44.19 billion as of July 17, 2023. Despite a brief seven-day period in April, the TVL has consistently stayed below $50 billion throughout the year.

Crypto Crime Drops by 65% in 2023, According to Chainalysis
Chainalysis data reveals a substantial decrease in cryptocurrency-related crime in 2023. Crypto inflows to illicit entities have dropped by 65% compared to the previous year, while inflows to risky entities have decreased by 42%, as reported by the blockchain analytics firm.

Bitcoin Price Plunges Below $30K Amid Heightened Concerns over Macro and Regulatory Factors
Bitcoin's price faces downward pressure as regulatory and macroeconomic concerns overshadow investor enthusiasm. While there is growing demand for Bitcoin futures in derivatives markets, the slowing pace in Asian markets contributes to the overall challenges faced by BTC.

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