FameEX Morning Crypto News Recap | July 3, 2024

Powell Suggests Fed May Implement Gradual Rate Cuts

Powell suggested the Fed may "slowly" cut interest rates, citing a strong labor market. He didn't specify timing, noting that important data will be released before the July and September meetings. His cautious approach aligns with expectations.

Texas Judge Approves Expedited Decision on SEC's Authority Over MetaMask

Fox Business reporter Eleanor Terrett disclosed that a Texas judge has approved an expedited decision in Consensys' lawsuit against the SEC regarding the agency's authority to regulate MetaMask. A ruling is anticipated by the end of the year or early 2025.

Vitalik Buterin Proposes Ethereum Transaction Confirmation Time Optimization for Layer 2 Strategy

Vitalik Buterin's insights on Ethereum transaction confirmation methods highlight that while the mainnet's confirmation time is similar to credit card transactions, it falls short of Layer 2's millisecond confirmations, posing security risks. Thus, optimizing the mainnet's confirmation time is essential to support the Layer 2 development strategy.

Tether and BTguru Sign MoU to Evaluate Digital Asset Education Programs in Turkey

On July 2, Tether signed a memorandum of understanding with BTguru, a technology and strategy company specializing in virtual and encrypted assets, to evaluate Turkey's digital asset education program. This initiative is part of Tether EDU's broader vision to make education unrestricted and accessible to everyone, everywhere.

Denmark’s Financial Supervisory Authority to Eliminate Non-Custodial Bitcoin Wallets, Keep Self-Custodial Crypto Wallets

The Danish Financial Supervisory Authority plans to abolish non-custodial Bitcoin wallets to enhance crypto platform supervision, emphasizing regulation of "interface providers" and mobile app developers to comply with MiCA regulations. Self-custodial cryptocurrency wallets will not be banned.

Ethereum and Solana NFT Sales Hit All-Time Lows in June

In June, Ethereum NFT sales fell to around $140 million, the lowest since January 2021, with 373,443 transactions, 50,908 unique buyers, and 45,645 unique sellers. Solana NFT sales also hit a low of $68.5 million, the lowest since November 2023.

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