FameEX Morning Crypto News Recap | August 2, 2023

Ron DeSantis Pledges to Halt Biden's Assault on Bitcoin and Cryptocurrency as President of the United States
Florida Governor and U.S. presidential candidate Ron DeSantis pledges to cease Joe Biden's crackdown on bitcoin and cryptocurrency if he becomes president. He also emphasizes that he will discard Central Bank Digital Currency (CBDC) from the agenda on his first day in office.

FTX Reveals Reorganization Plan, Introducing 'Offshore Crypto Exchange' and New Trust
Amidst bankruptcy proceedings, FTX submits its reorganization plan and term sheet to the U.S. bankruptcy court, outlining a vision to transform into an "offshore crypto exchange" and establish a new limited liability trust. The plan aims to achieve a comprehensive settlement with creditors, including customers and affiliated FTX entities.

IRS Releases Fresh Tax Guidelines on Crypto Staking
The IRS has mandated that U.S. citizens earning income from cryptocurrency staking services must classify the value of received digital assets as gross income at the time of receiving the staking reward.

Iran Intensifies Bid to Join BRICS, Bolsters Relations With Member Nations
Iran is actively working towards joining the BRICS group and has been strengthening its economic ties with BRICS member countries, particularly China, Russia, and India, in preparation for the economic bloc's summit, according to the Iranian deputy foreign minister for economic diplomacy.

CoinShares, European Digital Asset Manager, Reports 33% Revenue Growth in Q2
CoinShares, a prominent European digital asset manager offering BTC, ETH, and diverse altcoin crypto exchange-traded products (ETPs), records a total revenue of £20.3 million ($25.9 million) in Q2 2023, marking a significant 33% rise compared to the same period in the previous year.

MicroStrategy Returns to Profit and Holds $4.4B in Bitcoin Reserves
MicroStrategy, founded by Michael Saylor, reveals it now owns 12,800 Bitcoins as of July 30 and has returned to profitability. The Q2 earnings report, posted on Aug. 1, shows a net income of $22.2 million, a significant turnaround from a $1.1 billion net loss in the previous year. Total revenues remain relatively stable at $120.4 million.

Robert Kiyosaki Sounds Alarm on US Economy, Labels America as Broke — Reaffirms Bitcoin Preference
Robert Kiyosaki, author of "Rich Dad Poor Dad," warns that the US economy is weak and America is financially challenged. He highlights that the stock market surge is due to President Joe Biden raising the debt ceiling. Kiyosaki reiterates his preference for gold, silver, and bitcoin amid the economic concerns.

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