FameEX Morning Crypto News Recap | February 9, 2024

Bitcoin Futures Signals Point to Potential Rise in BTC Price Above $45K

Bitcoin hit over $45,000 on Feb. 8, a peak not seen since Jan. 12, following a 6% rise in just two days. This surge mirrored the S&P 500's record high, indicating a shift towards Bitcoin for inflation protection. With both cryptocurrencies and stocks rallying, and positive Bitcoin derivatives data, there's an indication of further upward trends.

US Senators Denounce SEC's Approach to Debt Box Case as 'Unconscionable'

Five GOP Senators from the U.S. have criticized the SEC over its lawsuit management against Digital Licensing, known as Debt Box. The SEC conceded that its legal submissions concerning Debt Box lacked accuracy and honesty, leading to a court petition to abandon the case. This event has ignited lawmaker critique over the SEC's honesty and ethical standards.

Ripple's President Anticipates DeFi Compliance Dominating 2024 Industry Trends

Monica Long, Ripple's president, anticipates a transformative year for the crypto sector in 2024, highlighting DeFi compliance as a pivotal breakthrough. This shift indicates a departure from speculative behaviors towards an era of rigorous on-chain compliance, marking a critical evolution in the operational standards and regulatory adherence within the cryptocurrency industry.

Leading Tech Firms Join Forces in New US Consortium for AI Safety

The U.S. Department of Commerce introduced the AI Safety Institute Consortium (AISIC) on Feb. 8, gathering an impressive array of tech industry leaders including Microsoft, Meta, Nvidia, and Google. Touted as an unprecedented initiative, AISIC aims to bolster AI safety standards within the tech industry, highlighting a major collaborative effort towards innovative and secure advancements in artificial intelligence.

Bitcoin's Hashrate Achieves Record Breakthrough of 609 EH/s Amidst Surging Prices

This week marked a milestone for Bitcoin as its computational power soared to 609 EH/s, as shown by the seven-day SMA. In the past year, Bitcoin's hashrate impressively increased by 332 quintillion hashes per second, highlighting a major improvement in the network's processing abilities and security standards.

Argentina's President Javier Milei Rejects Plans for Dollarization in 2024

In an interview, Argentina's President Javier Milei stated that due to current economic challenges and required groundwork, his goal for dollarization and coin convertibility won't be achievable in 2024. He highlighted the lack of sufficient time to enact and stabilize these significant economic reforms within the year.

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