FameEX Morning Crypto News Recap | October 15, 2024

Harris Proposes Lending Plan and Backs Cryptocurrency Regulatory Framework

U.S. Vice President Harris announced a plan to provide loans to black entrepreneurs and others facing financing challenges, offering 1 million loans with up to $20,000 forgiven. Additionally, Harris pledged to support a cryptocurrency regulatory framework, aiming to offer greater investment certainty for the 20% of black Americans who own or have owned digital assets.

Market Forecasted to Surge 565.4% in Q3 2024, Driven by U.S. Presidential Election

According to an Oct. 14 CoinGecko report, prediction market betting volume surged by 565.4% to $3.1 billion in Q3, up from $463.3 million in Q2, driven largely by bets on the upcoming U.S. presidential election. Elon Musk suggested that decentralized prediction markets may predict the 2024 election outcome more accurately than traditional polls, potentially influencing cryptocurrency regulations.

Google Discontinues Displaying Bitcoin and Cryptocurrency Price Charts in Search Results

Google Search has removed price charts for Bitcoin and other major cryptocurrencies from its search results, though they remain accessible through Google Finance. Over the weekend, users noticed that searching for Bitcoin’s price no longer displayed a graph, while stock price searches continued to show charts in the search results.

Tether Explores Offering USDT Loans to Support Commodity Trading

Tether is in talks with companies about dollar lending opportunities through USDT, potentially expanding its use in mainstream commodity trading. In countries like Venezuela and Russia, USDT has been used to bypass sanctions. Unlike traditional loans, Tether's financing isn't subject to strict regulatory conditions, which could accelerate payments and transactions for commodity trading companies relying on credit lines.

South Korea Establishes Virtual Asset Committee to Discuss Bitcoin and Ethereum Spot ETFs

South Korea's Virtual Asset Committee, set to launch this month under the Financial Services Commission, will hold its first meeting soon. Analysts believe the committee will accelerate discussions on Bitcoin and Ethereum spot ETFs. Industry insiders also report that the committee will explore allowing companies to invest in virtual assets, signaling increased regulatory attention to the sector.

India's Central Bank Warns of AI's Potential Threats to Financial Stability

Elon Musk announced on X that Starship successfully landed on its target, completing its second major objective. NASA Administrator Bill Nelson noted that continued testing will prepare for future missions to the lunar south pole and Mars. Musk responded, expressing his excitement to support NASA in returning humans to the moon.

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