FameEX Morning Crypto News Recap | June 17, 2024

Bloomberg Analysts Predict Global ETF Assets Will Hit $35 Trillion by 2035

Global ETF assets could reach $35 trillion, tripling the current $13 trillion, based on a 10% compound annual growth rate. ETFs' low costs, intraday liquidity, tax efficiency, and flexibility will attract more investors and traders, driving the creation of new products, innovative designs, and increased sales efforts, building on the past decade's 17% growth rate.

T-Mobile Germany to Launch Bitcoin Mining Business

On June 15, T-Mobile (German Telecom) announced plans to expand into Bitcoin mining. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, stated at BTC Prague that they have been running Bitcoin nodes since 2023 and will soon begin Bitcoin mining activities.

SEC Commissioner Highlights Asset Tokenization's Potential, Projects Global Market to Reach $10 Trillion

SEC Commissioner Mark Uyeda highlighted the benefits of asset tokenization, including securities, on June 14. He noted that using digital tokens on the blockchain can enhance "security, transparency, and immutability," while also eliminating intermediaries, simplifying transactions, and reducing costs.

Crypto Startups Have Raised Over $100 Billion Since 2014

Since May 2014, crypto startups have raised over $100 billion. According to DefiLlama, by June 16, 2024, total funding in the cryptocurrency industry reached $101.35 billion. Initially, startups raised $17.14 million monthly, but by May 2024, this figure had surged to $280.25 million.

Former House Speaker Paul Ryan Advocates for US Stablecoin Regulatory Framework

Former House Speaker Paul Ryan urged lawmakers to create a U.S. stablecoin regulatory framework. In a Wall Street Journal commentary, Ryan argued that adopting stablecoins could enhance the attractiveness of U.S. debt in international markets, particularly as national debt grows, and help prevent failed debt auctions.

El Salvador Government Proposes Banking Law Changes to Enable Bitcoin Service Banks

El Salvador's government proposed a banking law reform to introduce banks offering Bitcoin and crypto services. This would allow private investors to establish banks providing Bitcoin and stablecoin services to sophisticated investors. These banks could offer economic risk management, financial product purchases, investment management, and hedging services if the reform passes.

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