FameEX Morning Crypto News Recap | January 9, 2024

SEC Head Gary Gensler Delivers Cryptocurrency Cautions Ahead of Spot Bitcoin ETF Verdict

SEC Chairman Gary Gensler has cautioned investors about the risks of crypto investing as the market eagerly awaits potential approvals of spot bitcoin ETFs. He emphasized that investors might lack crucial information and essential protections related to their crypto investments, highlighting the need for awareness and caution in this emerging financial sector.

Morgan Stanley's Lead Economist Forecasts Interest Rate Reductions ‘This Year’, Amid Anticipation of Federal Reserve's Upcoming Action

Market participants are closely monitoring the U.S. Federal Reserve's anticipated decisions on the federal funds rate this year, especially regarding potential rate cuts. Ellen Zentner, Morgan Stanley’s chief economist in the U.S., anticipates these reductions in the coming months. Yet, she notes the central bank's ability to be patient, indicating that immediate changes may not be forthcoming.

Bitcoin Technical Analysis: BTC Investors Prepare for Possible ETF Approval

The cryptocurrency world is eagerly anticipating the U.S. Securities and Exchange Commission's (SEC) decision on a spot bitcoin ETF, affecting bitcoin's price dynamics. This anticipation creates a complex interplay between investor sentiment and market analysis. Traders are speculating if the potential approval will trigger a "buy the rumor, sell the news" event or lead to a substantial bullish market shift.

Visa Integrates Web3 Technology in Its Latest Loyalty Engagement Platform

Visa, renowned for its credit payment solutions, is set to incorporate Web3 features into its tailored loyalty programs. This initiative, in partnership with Web3-focused startup Smartmedia Technologies, will introduce cutting-edge enhancements to these programs, including the integration of virtual worlds, digital wallets, and gamified rewards, showcasing a leap forward in loyalty program innovation.

Central Banks Keep Acquiring Gold - 44 Tonnes Bought in November

Krishan Gopaul, a senior analyst at the World Gold Council, reported that central banks continued to increase their gold reserves in November. Public records and data from the International Monetary Fund (IMF) indicate that central banks accumulated 44 tonnes of gold during this period, with the Central Bank of Turkey making the largest purchase of 25 tonnes.

Japanese Online Retail Behemoth Mercari to Start Accepting Bitcoin Payments in June

Mercari, Japan's largest community-based e-commerce platform with 22 million monthly users, launched in 2013 and achieved a 94% usage rate within five years. In the third quarter of 2023, Mercari reported a profit of 2.8 billion yen ($19.4 million). Its decision to offer Bitcoin as a payment option could boost BTC adoption in this technologically advanced nation.

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