FameEX Morning Crypto News Recap | December 5, 2024

10 U.S. States Set to Propose Strategic Bitcoin Reserve Legislation

Dennis Porter, co-founder of the Satoshi Act Fund, revealed that multiple U.S. states are preparing to introduce sovereign Bitcoin reserve legislation. Porter is actively lobbying policymakers in 10 states to propose such legislation, sharing the update on X (formerly Twitter).

Altcoin Market Capitalization Soars 78.16% in One Month, Yet Remains Below 2021 High

Since November 4, altcoin market capitalization surged 78.16%, rising from $870 billion to $1.55 trillion. However, it remains below its November 2021 peak of $1.71 trillion. Bitcoin’s market share has decreased from 61.35% to 55.17%, still higher than the 45% share during the same period in 2021.

Trump’s Plan to Abolish Capital Gains Tax on U.S. Coin Issuance Fuels Altcoin Market Frenzy

On December 4, QCP Capital attributed the altcoin market frenzy to Trump’s November proposal to eliminate capital gains taxes on cryptocurrencies issued by U.S. companies. Additionally, expectations for a crypto-friendly U.S. cabinet have further fueled the surge in altcoin market activity.

New York Mayor Praises Cryptocurrency Salary Decision as Bitcoin Price Climbs

New York Mayor Eric Adams praised his decision to receive a cryptocurrency salary, noting its wisdom as Bitcoin nears $100,000. Adams had converted his first three months' salary, around $30,000, into Bitcoin and Ethereum when he took office in January 2022. His choice is now seen as a savvy move.

BTC Digital to Deploy 2,000 Bitmain T21 Miners at North American Mining Farms

BTC Digital announced a smooth partnership with Bitmain, planning to deploy 2,000 Bitmain T21 miners at North American mining farms within 3 to 6 months. This deployment will boost BTC Digital's total computing power to 600P, nearly doubling its current capacity.

Japan's Prime Minister Cautious About Separate Taxation of Crypto Assets, Weighing Tax Reform

Japanese Prime Minister Shigeru Ishiba expressed caution about implementing a 20% separate tax on crypto assets during a House of Representatives meeting. He emphasized the importance of carefully considering public understanding of self-assessed taxes before moving forward with such a tax policy.

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