FameEX Morning Crypto News Recap | July 20, 2023

Robert Kennedy Jr, US Presidential Candidate, Reveals Groundbreaking Proposal: Bitcoin as Backbone for US Dollar
US presidential candidate Robert F. Kennedy Jr. has proposed two reforms for bitcoin if elected president: supporting the US dollar with the cryptocurrency and eliminating capital gains taxes on bitcoin-to-USD conversions. He aims to position America as the leading center for cryptocurrency, particularly bitcoin.

Valkyrie's Spot Bitcoin ETF Application Receives Approval from US Regulatory Authority
The U.S. Securities and Exchange Commission (SEC) has accepted Valkyrie's application for a spot bitcoin ETF, allowing for an official review process. This comes shortly after Blackrock's bitcoin ETF application was also acknowledged, indicating growing interest in such investment vehicles.

Donald Trump, Former US President, Cautions of Potential Economic Depression Without His Election
Former US President Donald Trump has expressed concerns that the US economy would experience severe consequences beyond a recession if he is not re-elected. Additionally, he pledged to facilitate a swift agreement between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.

Nasdaq Pauses Crypto Custody Plans Due to Challenging US Regulatory Climate
Nasdaq CEO Adena Friedman revealed that the company is delaying its cryptocurrency custody plans citing the challenging regulatory environment in the United States. Originally planned for launch in the previous quarter, the service has been postponed, as announced during a Q2 earnings call.

Spencer Schiff Contradicts Father, Dismisses Depression Warning as "Fearmongering," Foresees Hyperdeflationary Boom and Bitcoin Crash
Spencer Schiff, son of gold advocate Peter Schiff, dismisses a Zerohedge article warning of an impending Great Depression as fearmongering. He distances himself from his father's views and predicts a hyperdeflationary economic boom. Notably, he also foresees Bitcoin's price potentially plummeting close to zero in the coming years, contrasting his previous support for the cryptocurrency.

BRICS Leaders to Discuss Expansion Plans at August Summit, Confirms Host
During the upcoming summit in South Africa, the leaders of BRICS nations will address the topic of expanding the organization, according to the country's president. With more than a dozen countries aspiring for membership, the August summit will provide an opportunity for potential pathways to be discussed.

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