FameEX Morning Crypto News Recap | January 8, 2025

U.S. Senator Engages SEC Chairman Nominee on Digital Asset Legislative Reform

U.S. Senator Cynthia Lummis met with SEC chairman nominee Paul Atkins to discuss regulatory reforms and digital asset legislation. She hinted at possible changes ahead and jokingly suggested restructuring the SEC to make it more streamlined and efficient.

Corporate Bitcoin Holdings Grow 63% in the Last Year

Bitwise research director Ryan Rasmussen revealed that corporate Bitcoin holdings surged 63% in one year, rising from 262,635 BTC in Q4 2023 to 590,649 BTC in Q4 2024, highlighting increasing institutional adoption of Bitcoin as a strategic investment.

Only 13 Days Remaining Until Gensler Steps Down as SEC Chairman

As of January 7, Gary Gensler has 13 days remaining as chairman of the U.S. Securities and Exchange Commission (SEC). He announced on November 22, 2024, that his resignation would take effect on January 20, 2025.

U.S. Companies Filed 686 Bankruptcies in 2024, Marking Highest Total Since 2010

In 2024, U.S. corporate bankruptcy filings increased 8% year-on-year to 686, marking the highest level since 2010. At least 30 firms reported debts exceeding $1 billion. Filings rose from 636 in 2023, following 777 cases in 2021-2022. Fitch Ratings reported a 2:1 ratio of out-of-court restructurings to bankruptcies.

Analysts Forecast a Unique 2024 Altcoin Season with Gradual Liquidity Inflows Unlike 2021

Cryptocurrency analyst Miles Deutscher emphasized that the 2024 altcoin season will differ from 2021, which saw widespread dilution caused by a surge in new projects. Instead of broad-based gains across all altcoins, growth is anticipated to concentrate on specific sectors like AI and Meme coins, reflecting a more targeted and selective rotation.

Musk Confirms X Platform Won’t Implement Cryptocurrency Payments Anytime Soon

Elon Musk announced during an X stream discussion that cryptocurrency payments won’t be introduced on the X platform soon due to licensing requirements. He emphasized prioritizing fiat currency for now and is focused on improving its usability and efficiency for seamless transactions.

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