FameEX Morning Crypto News Recap | October 17, 2024

Even if Tesla Sells Its Bitcoin, the Impact Would Be Just Over Half of the German Government's

CryptoQuant CEO Ki Young Ju commented on Tesla's recent transfer of $770 million in Bitcoin, noting that if Tesla sells, the impact would be just over half of the German government's sale. The German government profited $816 million, while Tesla's potential profit stands at $515 million.

Vitalik Buterin Proposes Reducing Ethereum Staking Threshold to 1 ETH and Shortening Block Confirmation Time

Vitalik Buterin proposed lowering Ethereum’s staking threshold from 32 ETH to 1 ETH to encourage more independent stakers. He believes the current threshold limits participation. Buterin also suggested reducing transaction finalization time from 15 minutes to 12 seconds, aiming to enhance network efficiency and speed.

Tether Reports USDT User Base Reaches 330 Million, with Accelerating Growth

Tether reported a significant increase in USDT adoption, with 330 million on-chain wallets and accounts holding the stablecoin by the end of Q3 2024, matching the U.S. population. The user base continues to grow, averaging a 9% increase over the past four quarters, and reaching a record 36.25 million new users in Q3 2024.

Hong Kong Chief Executive John Lee Announces Push for Central Bank Digital Currency and Virtual Asset Transactions

On October 16, Hong Kong Chief Executive John Lee announced that the government will advance policies and guidelines for applying artificial intelligence in innovative financial services, including central bank digital currency, mobile payments, virtual banks, virtual insurance, and virtual asset trading.

Ireland’s Finance Minister to Prepare Emergency Legislation for Cryptocurrency Regulation Update

On October 16, the European Union introduced new regulations to combat money laundering and terrorist financing. In response, Irish Finance Minister Jack Chambers announced plans to draft urgent legislation to update the country’s cryptocurrency regulations. However, he did not provide specific details on the new rules or a timeline for their implementation.

El Salvador: Only 7.5% of Respondents Use Cryptocurrency, 58% Support President

A recent survey by Francisco Gavidia University in El Salvador found that while 58% of respondents support President Nayib Bukele's administration, only 7.5% use cryptocurrencies for transactions. Despite backing Bukele, the public has not widely embraced his Bitcoin policy, indicating limited adoption of digital currencies in the country.

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