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FameEX Morning Crypto News Recap | November 20, 2023
2023-11-20 12:56:30
US Presidential Hopeful Pledges to Defend Bitcoin Against Government Meddling
U.S. presidential candidate Vivek Ramaswamy expressed concern over the government feeling threatened by Bitcoin's rise, fearing it might challenge the U.S. Federal Reserve's status. He pledged, if elected, to prevent government interference in the innovation sector, particularly regarding cryptocurrencies like Bitcoin, to maintain a free environment for technological advancement.
SEC Chair Gensler Criticized for Claiming SEC Does Not Pursue Legal Action Against Honest Businesses
SEC Chairman Gary Gensler faced criticism from the cryptocurrency community for stating that the SEC doesn't target honest businesses but doesn't defend dishonesty either. Crypto advocates argue that under Gensler's tenure, the SEC has unfairly targeted legitimate businesses such as Ripple and LBRY, while allegedly showing leniency towards individuals like former FTX CEO Sam Bankman-Fried.
As 93% of Bitcoin's Total Supply is Mined, Both Network Hashrate and Difficulty Experience Simultaneous Increase On November 19, 2023, Bitcoin's network hashrate reached 468 exahash per second (EH/s), exceeding the average ten-minute block interval with a block processed in just 7 minutes and 37 seconds. Current trends indicate that if such block intervals continue, the network may see a 3% increase in difficulty, which would be the seventh consecutive rise since September 19. Defi's 30-Day Growth Spurt — Total Value Locked Rises by $9.3 Billion, Rocket Pool at the Forefront Over the past month since October 18, 2023, decentralized finance (defi) has seen a significant increase of $9.3 billion in its total value locked. Among the top ten defi protocols, Rocket Pool, recognized for its liquid staking offerings, recorded the most impressive growth, surging 26.94% in the last 30 days. Meta Disbands its Responsible AI Team as Part of Organizational Restructuring Meta, a leading social media company, has dissolved its division focused on overseeing the development and deployment of its artificial intelligence (AI) projects. Following this move, numerous members of the disbanded responsible AI team have been reassigned within Meta, with many joining the generative AI product division and others moving to the AI infrastructure team. International Securities Organization IOSCO Proposes Framework for Cryptocurrency Regulation The International Organization of Securities Commissions (IOSCO) has issued detailed recommendations outlining regulatory expectations for cryptocurrencies. Their report suggests that these expectations could be met either by adapting existing regulations or introducing new ones, varying by jurisdiction. The primary goal of these guidelines is to address and mitigate key areas of risk in cryptocurrency markets. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
