FameEX Morning Crypto News Recap | March 15, 2024

'Financial Expert Anticipates Widespread Crypto Enthusiasm to Resurge as DOGE Reaches Unprecedented Peaks'

Scott Melker, known as the "Wolf of All Streets," believes mainstream crypto FOMO could return, driven by past enthusiasm for "dog coins" like Dogecoin and non-fungible tokens (NFTs). He suggests that the public's previous fervor during the last bull market, centered around these assets, indicates a potential resurgence of interest in the cryptocurrency space.

Elon Musk Supports Using DOGE for Tesla Transactions, Declares 'Dogecoin to the Moon'

Elon Musk, CEO of Tesla and SpaceX, advocates for Dogecoin as a future payment option for Tesla vehicles, citing popular demand among his companies' staff. Proclaiming "Dogecoin to the moon," Musk highlighted his support for the meme cryptocurrency, contrasting it with the wealthier demographic's preference for Bitcoin, to align more closely with the preferences of his employees.

Tether Partners with US Officials to Seize $1.4 Million from a Non-Custodial Wallet

Tether, the issuer of USDT, the leading stablecoin, collaborated with the U.S. government to confiscate $1.4 million from an unhosted wallet connected to a purported fraud scheme. This operation, as noted by the Northern District of Illinois U.S. Attorney’s Office, represents one of the inaugural instances of the U.S. retrieving USDT, marking a significant milestone in regulatory enforcement.

Bitcoin Mining Reaches Unprecedented Complexity Ahead of 2024 Halving Countdown

On Thursday, the difficulty of the Bitcoin network increased by 5.79% at block 834,624, marking the year's fourth upward adjustment. This pushed the mining difficulty to a record high of 83.95 trillion. The next adjustment in the network's difficulty is expected to occur around March 27, 2024, reflecting ongoing changes and challenges within Bitcoin mining operations.

Microstrategy Plans $500 Million Convertible Note Offering to Increase Bitcoin Investments

On March 13, Virginia-based Microstrategy announced its intention to raise $500 million through the issuance of convertible notes maturing in 2031. In line with past initiatives, the company aims to use the proceeds for purchasing bitcoin and addressing other general corporate needs, continuing its strategy of investing heavily in the cryptocurrency.

Federal Reserve Identifies CBDCs as Among Seven Critical Responsibilities in Report to Congress

According to U.S. Representative and CBDC critic Tom Emmer, the Federal Reserve still prioritizes the development of a U.S. central bank digital currency (CBDC). In its list of seven "Key Duties" for payment systems, the Fed includes Automated Clearinghouse and FedNow, two electronic payment systems that could facilitate the Fed's goal of digitalizing the U.S. dollar, indicating a continued focus on CBDC advancement.

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