FameEX Morning Crypto News Recap | August 2, 2024

YouHodler Analyst: Harris's Victory Could Negatively Impact Bitcoin

YouHodler analyst Ruslan Lienkha stated that as the US election in November approaches, if Kamala Harris's chances of defeating pro-cryptocurrency opponent Donald Trump increase, Bitcoin's price may be negatively impacted. A Harris win would be bearish for Bitcoin as the regulatory environment would likely remain unchanged.

US Senator Officially Introduces BITCOIN Act to Create Strategic BTC Reserve

U.S. Senator Cynthia Lummis has introduced the BITCOIN Act in the Senate to establish a strategic bitcoin reserve, aiming to enhance America's balance sheet. The initiative proposes purchasing 1 million bitcoins to position the U.S. as a leader in financial innovation, alongside implementing robust security measures.

DeFi Market Recovery: Increase in Active Loan Amount and TVL Indicators

The crypto market analysis platform Token Terminal reported that DeFi is recovering. Active loan volume has returned to early 2022 highs at $13.3 billion, indicating increased leverage and a potential bull run. DeFi TVL, which fell 80% from its November 2021 peak of $180 billion to $37 billion in October 2023, currently stands at around $96.5 billion, doubling from $54 billion to $109 billion in the first half of 2024.

Nigerian Crypto Advocates Call for Regulatory Reforms Amid Protests

Amid the #EndBadGovernanceInNigeria protests, Nigerian cryptocurrency advocates are calling for industry-specific demands. They view this movement as an opportunity to push for regulatory reforms that could benefit the crypto sector and the broader economy, addressing various governance issues and improving the regulatory landscape for digital assets.

Google's New Gemini AI Model Outperforms GPT-4 and Claude-3 in Benchmarks

Google's Gemini 1.5 Pro has taken the top spot in generative AI benchmarks, surpassing OpenAI's ChatGPT-4o for the first time. This marks Google's debut at the top of the Chatbot Arena leaderboard. The achievement came on August 1, following a quiet, experimental release of Google's latest model.

Trump's Bitcoin Sneakers Listed on eBay for $2,500

Trump’s Bitcoin-themed sneakers went live for pre-order on July 31 on the official Trump Sneakers website, with a limited edition of 1,000 orange high-top shoes. They sold out within three hours. Scalpers are now listing these limited edition sneakers on eBay for $2,500.

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