FameEX Morning Crypto News Recap | July 22, 2024

Biden Declares Withdrawal from 2024 Presidential Race

On July 22, US President Biden issued an open letter announcing he would not seek re-election. Although he initially intended to run, he decided to step down for the party's and country's best interests, focusing on his duties for the remainder of his term. Biden will give a speech later this week outlining his decision.

SEC Establishes Interagency Securities Committee to Enhance Anti-Fraud Coordination

The U.S. SEC has established the Inter-Agency Securities Committee (ISC) to enhance coordination among federal, state, and local agencies on securities fraud. The ISC aims to improve fraud prevention, share insights on emerging threats, and develop a unified approach against financial fraud. With over 100 agencies involved, it provides a platform for sharing information and innovative methods.

Musk's Private Jet Lands in Tennessee, Sparking Speculation of Bitcoin 2024 Conference Attendance

On July 22, FOX Business reporter Eleanor Terrett shared on social media that Musk's private jet landed in Tennessee and he changed his X platform avatar to the "laser eye" image of Bitcoin supporters. This has led to market speculation that Musk will attend the Bitcoin 2024 conference, possibly giving a speech or engaging in a dialogue with Trump.

President of The ETF Store: US-Listed Spot Bitcoin ETFs Hold Over 900,000 BTC

Nate Geraci, president of The ETF Store, tweeted that US-listed spot Bitcoin ETFs hold 900,000 Bitcoins, representing 4.3% of the total Bitcoin supply, with assets around $60 billion. Since their launch in January, these ETFs have seen net inflows of $17 billion.

MicroStrategy Shares Soar 1,339% Since Adopting Bitcoin Strategy

On July 21, MicroStrategy co-founder Michael Saylor shared data on social media revealing that since adopting its Bitcoin strategy on August 10, 2020, MicroStrategy's stock (MSTR) has surged 1,339%. This performance surpasses the 956% increase of Nvidia and the 153% rise of Tesla over the same period.

Trump Pledges to Protect Bitcoin Mining, Digital Asset Self-Custody, and Free Trade in New Republican Party Platform

The Republican National Convention approved a new policy platform proposed by former President Donald Trump, which largely aligns with standard Republican policies. However, it notably includes support for innovative encryption policies. Trump's platform pledges to defend Americans' rights to Bitcoin mining, self-custody of digital assets, and free trade.

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