FameEX Morning Crypto News Recap | August 15, 2024

U.S. Senate Aims to Pass Cryptocurrency Regulation Bill by Year-End

On August 15, U.S. Senate Majority Leader Chuck Schumer stated at the Crypto4Harris Town Hall Meeting that Congress aims to pass a cryptocurrency regulation bill by year-end. He emphasized the need for balanced legislation that promotes innovation while providing common-sense guardrails for the industry, highlighting Congress's responsibility to enact reasonable regulation.

More Than 7 Million Bitcoin Addresses Are Currently in the Red

IntoTheBlock data reveals that over 7 million Bitcoin addresses, purchased between the current price and the historical peak, are now at a loss. Despite Bitcoin's repeated failures to break the $70,000 mark, market sentiment remains optimistic as it climbs back above $60,000.

Japanese Stocks Climb as Economic Growth Exceeds Expectations

Japanese stocks climbed as economic growth data surpassed expectations, with Australian stocks also rising. Inflation data bolstered expectations of a Federal Reserve rate cut next month. Evercore noted that the Fed is now prioritizing labor data over inflation, and future labor data will determine the extent of rate cuts.

Federal Reserve Analyst: US Inflation Debate Continues

Federal Reserve analyst Nick Timiraos highlighted ongoing debates over US inflation. Some argue that the mild inflation trend in late 2023 is an outlier, indicating that inflation hasn't been fully controlled. Others believe that the strong data in early 2024 is an anomaly, disrupting a trend of inflation readings close to the target that started last summer.

Trump Organization Set to Unveil Cryptocurrency Plan, Potentially Including Digital Real Estate

The Trump Organization is preparing to launch a new cryptocurrency initiative. Eric Trump, the executive vice president, mentioned that the project will be unveiled soon but withheld specific details, stating it will be announced publicly once "everything is ready." He hinted that the project might involve "digital real estate," potentially enabling people to lend or borrow money.

MetaMask Introduces Blockchain-Based Debit Card, Initial Pilot Launches in EU and UK

MetaMask, in partnership with Mastercard and Baanx, has launched a blockchain-based debit card. Initially available in a limited pilot for users in the EU and UK, the pilot includes a few thousand digital cards. A full launch in these regions is planned for later this year, with additional pilots expected in other regions in the coming quarters.

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