FameEX Morning Crypto News Recap | February 9, 2024

Bitcoin Futures Indicators Suggest BTC Price Could Surge Past $45K

On Feb. 8, Bitcoin exceeded $45,000 for the first time since Jan. 12, marking a 6% increase over two days. This rise paralleled the S&P 500's record high on Feb. 7, suggesting investors turned to Bitcoin as an inflation hedge. The rally in both crypto and stocks, along with optimistic Bitcoin derivatives data, hints at potential continued upward momentum.

US Senators Criticize SEC's Handling of Debt Box Case as 'Unconscionable'

Five Republican U.S. Senators have condemned the SEC for its conduct in a lawsuit against Digital Licensing, operating as Debt Box. The SEC acknowledged its filings in the Debt Box case were not "accurate and candid," subsequently requesting the court to dismiss the lawsuit. This incident has sparked significant criticism from the lawmakers regarding the SEC's transparency and integrity.

Ripple President Foresees DeFi Compliance as a Key Trend in 2024

Ripple's president, Monica Long, predicts that 2024 will mark a significant shift in the crypto industry, with decentralized finance (DeFi) compliance being the most notable breakthrough. She envisions a move away from speculative trends towards a new era characterized by stringent on-chain compliance, signaling a major evolution in how the crypto sector operates.

Major Tech Giants Unite in Newly Formed US AI Safety Consortium

On Feb. 8, the U.S. Department of Commerce unveiled the AI Safety Institute Consortium (AISIC), featuring a diverse lineup of leading tech companies. This groundbreaking initiative includes industry giants such as Microsoft, Meta, Nvidia, and Google, marking it as a "first of its kind" effort to enhance AI safety across the technology sector, demonstrating a significant collaboration for future advancements.

Bitcoin's Hashrate Soars to a New High of 609 EH/s as It Climbs to Unprecedented Levels During Price Increase

This week, Bitcoin's computational power reached a new milestone, hitting 609 exahash per second (EH/s) based on the seven-day SMA. Over the past year, the hashrate of Bitcoin surged impressively by 332 quintillion hashes per second, showcasing a significant boost in the network's processing power and overall security.

Argentine President Javier Milei Dismisses Dollarization for 2024

Argentina's libertarian president, Javier Milei, announced in a local media interview that his administration's eventual goal of dollarization and free coin convertibility will not be feasible in 2024. Milei explained that the current economic conditions and the necessary preparatory steps mean there isn't enough time to stabilize and implement these changes within the country's economy this year.

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