FameEX Morning Crypto News Recap | October 8, 2024

Crypto Market Financing Falls to $641 Million in September 2024

RootData reports that the crypto market's total financing in September 2024 reached $641 million, down 9.6% from $709 million in September 2023 and 18.6% from $788 million in August 2024. The number of financings also dropped to 101, down 9.8% from 112 in August. The top three financing categories were other, CeFi, and DeFi.

ECB Officials Propose "European Ledger" Concept to Enhance Digital Asset Integration

European Central Bank officials proposed a "European ledger," a unified system to integrate European digital assets and currencies, aiming to improve efficiency and synergy. Piero Cipollone, an ECB executive board member, highlighted that Europe's traditional capital markets face fragmentation and inconsistent legislation, presenting an opportunity to create a digital capital markets union to address these issues.

Global Cryptocurrency Adoption Projected to Surpass 8% by 2025

Matrixport's October 7 report revealed that 7.51% of the global population currently uses digital currency, with adoption expected to exceed 8% by 2025. The report highlights that increased institutional participation, led by firms like BlackRock, has been crucial in legitimizing cryptocurrencies and integrating them into the mainstream financial system, driving steady growth in the market.

DOJ and SEC Back Investor Class-Action Lawsuit Against Nvidia

The U.S. Department of Justice and the SEC requested the Supreme Court to approve a class action lawsuit against Nvidia investors, accusing the company of misleading sales data related to crypto miners. In court documents on October 2, U.S. Attorney General Elizabeth Prelogar and SEC lawyer Theodore Weiman argued that enough evidence exists to revive the case in appeals court.

Tether's User Base Surpasses 350 Million as Market Share Expands

Tether, the company behind USDT, announced that its user base exceeded 350 million on October 7, marking a significant milestone 10 years after its 2014 launch. Tether saw a 24% increase in users over the past year, rising from 141 million in 2022 to 282 million in October 2023, highlighting its rapid growth.

Hong Kong Securities and Futures Commission Proposes Four Key Strategies to Enhance Regulation of Virtual Asset Trading Platforms

In celebration of its 35th anniversary, the Hong Kong Securities and Futures Commission (SFC) outlined four strategic priorities. These include promoting the regulation of virtual asset trading platforms, supporting the tokenization of traditional products, leveraging blockchain and Web 3 technologies, and completing the relevant regulatory framework by next year. These efforts aim to modernize Hong Kong's financial landscape.

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