FameEX Morning Crypto News Recap | March 29, 2024

US Senate Hopeful Demands SEC Chair Gary Gensler Step Down

Senate candidate John Deaton is advocating for SEC Chairman Gary Gensler's resignation, criticizing him for failing to protect investors. Deaton accuses Gensler of neglecting the SEC's core mission to safeguard innocent investors, suggesting a departure from the agency's essential objectives during his leadership.

Ethereum Blob Inscriptions Surpass 40%, Leading to Unprecedented 'Blob Contention'

After Ethereum's Dencun upgrade introduced blobs, users found ways to embed data similar to Ordinal inscriptions, leading to a surge in such activities. Now, inscriptions make up more than 40% of blob transactions, significantly boosting network activity. This rise in usage has led to congestion in blob transactions, pushing Ethereum's network utilization to its maximum capacity.

Crypto ATMs Set for Comeback as Bitcoin 'FOMO' Intensifies

In 2023, the installation of crypto ATMs saw its first annual decrease in ten years, influenced by a bear market and the downfall of numerous crypto companies. However, Brandon Mintz, CEO of Bitcoin Depot, predicts a revival in the sector following a potential surge in Bitcoin prices post-halving, suggesting a bounce back from the downturn.

Abra Reaches Settlement with Fifth State Amid Signs of US Operations Diminishing

Oregon has become the fifth state to act against the entities within the Abra ecosystem. The cryptocurrency platform Abra and its CEO, William Barhydt, have settled with the Oregon Division of Financial Regulation. As part of the settlement, Abra will return assets to its Oregon users and will stop offering unregistered securities within the state.

Biden Administration Implements Measures to Protect the Public Against AI Risks

A White House memorandum dated March 28 mandates federal agencies to appoint a chief AI officer, reveal their AI applications, and implement safety protocols within 60 days. This directive underscores the Biden administration's intent to capitalize on AI's capabilities while staying vigilant about its emerging risks.

Indonesia Plans to Launch Regulatory Sandbox for Cryptocurrency Assets

The Indonesian Financial Services Authority (OJK) has mandated that financial services institutions testing new products and services, including those related to crypto assets, participate in a regulatory sandbox. This initiative, set to be implemented by early 2025, aims to create a controlled environment for innovating with crypto products while safeguarding against fraudulent investment schemes.

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