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FameEX Morning Crypto News Recap | February 3, 2025
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Rich Dad Poor Dad Author Cautions That Trump's Tariff Policy Could Lead to Collapse of Gold, Silver, and Bitcoin
On February 2, Rich Dad Poor Dad author Robert Kiyosaki tweeted that Trump's new tariff policy could trigger a collapse in gold, silver, and Bitcoin prices, presenting buying opportunities. He stressed, however, that the underlying issue is the growing debt crisis, which continues to worsen.
U.S. Treasury Secretary Affirms the Continued Existence of the Cryptocurrency Economy
U.S. Treasury Secretary Scott Bessent stated on FOX Business that cryptocurrency is based on freedom and assured that the cryptocurrency economy will continue to thrive, despite facing various challenges.
Stablecoin Market Exceeds $200 Billion, Gaining Almost $40 Billion Since Trump’s Victory
The stablecoin market has exceeded $200 billion, growing by nearly $40 billion since President Trump's victory. This surge suggests that cryptocurrency prices could rise in the first quarter of 2025.
Republican-Led SEC Committee Boosts Oversight of Ongoing SEC Investigation
Sources reveal the Republican-led U.S. SEC committee is ramping up oversight of the formal SEC investigation, aiming to heighten scrutiny of the agency’s operations.
CryptoQuant CEO Acknowledges Meme Coin Potential, Stresses Need for Positive Development
CryptoQuant CEO Ki Young Ju, while not particularly fond of meme coins, recognizes their potential value. He likens the current meme coin trend to a primitive collective consciousness, suggesting the community operates like a shared belief system that could eventually develop into a more structured and organized one.
El Salvador Repeals Bitcoin's Legal Tender Status to Comply with IMF Loan Terms
El Salvador’s Congress approved a reform to remove Bitcoin’s legal tender status, aligning with the IMF’s conditions for a $1.4 billion loan. The reform makes Bitcoin use voluntary, allowing merchants and institutions to choose whether to accept it, and prohibits its use for tax payments.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
