FameEX Morning Crypto News Recap | June 13, 2024

Fed Chairman Powell: Further Interest Rate Hikes Unlikely

Federal Reserve Chairman Powell stated at a press conference that the Fed is unlikely to raise interest rates further. He clarified that while they are not completely ruling out rate hikes, it is not the basic assumption of anyone in the FOMC committee.

Bill Miller Explains Why Bitcoin Remains Undervalued

Bill Miller IV, chairman and CIO of Miller Value Partners, explains that Bitcoin remains undervalued despite its recent highs. He highlights Bitcoin's potential as a superior monetary system compared to fiat currencies, which are prone to human control and debasement. Miller believes Bitcoin's market cap has significant growth potential.

MoonPay Announces Crypto Purchases via PayPal for UK and EU Users

MoonPay announced that users in the UK and EU can now buy cryptocurrencies via PayPal, using PayPal balances, bank withdrawals, or debit cards. This follows a similar integration in the U.S. last month. The PayPal integration is now available to all U.S. users, allowing them to buy and sell over 110 cryptocurrencies.

Dubai International Financial Centre Seeks Fintech Collaboration with Hong Kong

Officials from the Dubai International Financial Centre (DIFC) expressed hopes to enhance cooperation with Hong Kong in the rapidly developing fintech ecosystem. Chief Legal Counsel Jacques Visser emphasized the focus on cross-border supervision of virtual assets. This includes all tokenized assets and assets with transaction value under Web3, aiming for close communication with other regions including Hong Kong.

AI-Crypto Integration Set to Boost Global Economy by $20 Trillion

Bitwise’s Senior Crypto Research Analyst, Juan Leon, predicts that the convergence of artificial intelligence (AI) and cryptocurrency could add $20 trillion to the global Gross Domestic Product (GDP) by 2030, significantly transforming the global economy.

12-Month Crypto Winners: Meme Coins Dominate 7 of Top 10 Spots

Bitcoin (BTC) has appreciated over 168% against the U.S. dollar, outperforming many global asset classes. However, in the past year, seven out of the top ten gainers have been meme coins, highlighting their significant impact on the crypto market.

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