FameEX Morning Crypto News Recap | July 22, 2024

Biden Announces He Will Not Run in 2024 Presidential Race

On July 22, President Biden announced in an open letter that he would not seek re-election. Initially intending to run, he chose to step down for the party's and country's best interests, focusing on his duties for the remainder of his term. Biden will outline his decision in a speech later this week.

SEC Forms Interagency Securities Committee to Bolster Anti-Fraud Efforts

The U.S. SEC has created the Inter-Agency Securities Committee (ISC) to boost coordination among federal, state, and local agencies on securities fraud. The ISC aims to enhance fraud prevention, share insights on emerging threats, and develop a unified approach to combating financial fraud. It includes over 100 agencies, facilitating information sharing and innovative methods.

Musk's Private Jet Touches Down in Tennessee, Fuels Speculation of Bitcoin 2024 Conference Visit

On July 22, FOX Business reporter Eleanor Terrett revealed on social media that Musk's private jet landed in Tennessee and he changed his X platform avatar to the "laser eye" Bitcoin supporter image. This sparked speculation that Musk might attend the Bitcoin 2024 conference, potentially giving a speech or engaging with Trump.

President of The ETF Store: US-Listed Spot Bitcoin ETFs Contain Over 900,000 BTC

Nate Geraci, president of The ETF Store, tweeted that US-listed spot Bitcoin ETFs hold 900,000 Bitcoins, which is 4.3% of the total supply, with assets valued at $60 billion. Since their January launch, these ETFs have seen net inflows of $17 billion.

MicroStrategy Shares Skyrocket 1,339% Following Bitcoin Strategy Implementation

On July 21, MicroStrategy co-founder Michael Saylor shared on social media that since adopting its Bitcoin strategy on August 10, 2020, MicroStrategy's stock (MSTR) has surged 1,339%. This growth outpaces Nvidia's 956% increase and Tesla's 153% rise during the same period.

Trump Vows to Safeguard Bitcoin Mining, Digital Asset Self-Custody, and Free Trade in New GOP Platform

The Republican National Convention approved a new policy platform by former President Donald Trump, which aligns with standard Republican policies but notably supports innovative encryption policies. Trump's platform pledges to defend Americans' rights to Bitcoin mining, self-custody of digital assets, and free trade.

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