FameEX Morning Crypto News Recap | March 14, 2024

Historic Milestone: Bitcoin Contract Holdings Surpass $33.94 Billion

On March 13th, SoSo Value reported that Bitcoin futures open interest soared to a new record of $33.94 billion, eclipsing the prior high of $23.04 billion from November 2021. This achievement underscores a notable advancement in the cryptocurrency futures market, indicating growing investor interest and market maturity.

South Africa Plans to Approve Licenses for 60 Cryptocurrency Platforms by March's Close

On March 13th, South Africa announced plans to license 60 cryptocurrency platforms by month's end, becoming an African pioneer in requiring licenses for digital asset exchanges. This move, regulated by the Financial Sector Conduct Authority (FSCA) under existing laws, represents a significant step in cryptocurrency oversight.

El Salvador's President Reveals: Country's Bitcoin Assets Exceed Anticipated Levels, Supported by Diverse Revenue Sources

President Nayib Bukele of El Salvador suggests the nation's Bitcoin reserves might surpass known estimates. With Bitcoin's legal tender status initiated in September 2021, El Salvador hasn't just benefited from investment gains but has also explored diverse avenues for Bitcoin-related earnings, as unveiled by Bukele.

Report by the US Patent and Trademark Office: Law Changes Not Required Despite Widespread Piracy and Infringement in the NFT Market

USPTO states NFT technology fails to prevent unauthorized copying, emphasizing extensive trademark infringement in the market. Despite prevalent piracy and IP violations in the NFT sphere, the US views current intellectual property laws as adequate and does not anticipate immediate amendments.

Over 20 Cryptocurrency Groups Advocate for Adding Bitcoin to Emoji Roster

Launched on March 13th, the "Bitcoin Deserves an Emoji" movement garnered backing from more than 20 cryptocurrency collectives. The initiative campaigns for integrating a Bitcoin emoji into digital keyboards, spotlighting Bitcoin's importance not merely as money, but as a key icon representing technology and cultural influence in today's world.

Market Anxiety Grows as Increased Inflation Signals Potential Stability in US Central Bank Rates

In February, the Bureau of Labor Statistics revealed a year-over-year inflation rise of 3.2%, with January's Consumer Price Index (CPI) marginally higher by 0.1%. This inflation data has led to a pessimistic response from financial markets, which now expect the U.S. Federal Reserve to hold off on reducing the benchmark federal funds rate.

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