FameEX Morning Crypto News Recap | March 14, 2024

Historical Peak Reached as Bitcoin Contract Holdings Surpass $33.94 Billion

As of March 13th, Bitcoin futures open interest has hit a record high of $33.94 billion, according to SoSo Value data. This figure surpasses the previous peak of $23.04 billion in November 2021, marking a significant milestone in the cryptocurrency's futures market.

South Africa Set to Grant Licenses to 60 Cryptocurrency Platforms Before March Ends

On March 13th, it was announced that South Africa will license approximately 60 cryptocurrency platforms by March's end, pioneering in Africa by mandating operational licenses for digital asset exchanges. The Financial Sector Conduct Authority (FSCA) will regulate these platforms under existing financial services laws, marking a significant regulatory milestone.

President of El Salvador: National Bitcoin Reserves Surpass Public Expectations with Various Income Streams

Salvadoran President Nayib Bukele has indicated that El Salvador's Bitcoin holdings could be higher than publicly estimated. Since making Bitcoin legal tender in September 2021, not only has the country seen capital gains from its Bitcoin investments, but it has also tapped into multiple sources of Bitcoin-related income, according to Bukele's revelations.

US Patent and Trademark Office Report: Despite Prevalence of Piracy and Infringement in NFT Sector, Legal Amendments Unnecessary

USPTO declares NFT tech ineffective against unauthorized copying, highlighting widespread trademark infringement in the market. Despite prevalent piracy and intellectual property violations within the NFT sphere, the US deems current IP laws satisfactory and sees no imminent need for alteration.

More Than 20 Crypto Entities Push for Bitcoin Emoji Inclusion

The "Bitcoin Deserves an Emoji" initiative kicked off on March 13th with support from over 20 cryptocurrency groups. This effort seeks to secure a spot for a Bitcoin emoji on digital keyboards, underscoring Bitcoin's significance beyond its monetary value — as a pivotal emblem of technology and culture in modern society.

Financial Markets on Edge as Rising Inflation Hints at Steady US Central Bank Rates

The Bureau of Labor Statistics reported a 3.2% increase in inflation over the past year in February, with a slight 0.1% uptick from January's Consumer Price Index (CPI). Financial markets have reacted negatively to this news, anticipating that the U.S. Federal Reserve may delay cuts to the benchmark federal funds rate due to these inflation figures.

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