FameEX Morning Crypto News Recap | April 10, 2024

Peter Schiff Raises Alarm Over Resurgence of High Inflation — Calls Out JPMorgan CEO Jamie Dimon for Downplaying the Issue

Renowned economist Peter Schiff predicts a resurgence of high inflation, advocating for substantial Fed rate increases. He criticizes JPMorgan CEO Jamie Dimon for underestimating the US economic challenges. Schiff acknowledges Dimon's perspective as more accurate than other Wall Street CEOs.

Japanese Company Metaplanet to Inject $659M in Bitcoin into Treasury, Sparking 90% Surge in Shares

Japanese stock exchange-listed company Metaplanet experienced a staggering 90% surge in share price within a day after unveiling plans to add 1 billion yen worth of bitcoin to its balance sheet, underscoring growing interest in cryptocurrency integration among traditional businesses.

The Least Sensible Aspect of Biden's 2025 Budget Proposal: Mining Tax

President Biden's fiscal year 2025 budget proposal includes three cryptocurrency-related changes. While some changes are positive, such as applying existing securities regulations to crypto, one controversial aspect is the proposed 30% tax on electricity used by Bitcoin miners. This could prompt miners to relocate overseas, posing potential challenges to the domestic mining industry.

US Treasury Representative Details Plans for Stricter Crypto Crime Regulation

In a Senate Banking Committee hearing on April 9, US Deputy Treasury Secretary Adewale Adeyemo advocated for enhanced enforcement powers to counter illicit finance, terrorism, and sanctions evasion. Adeyemo proposed three reforms aimed at strengthening U.S. efforts against global malfeasants exploiting cryptocurrency, emphasizing the need for improved regulatory mechanisms to safeguard against these threats.

Rep. McHenry Aims for Approval of Digital Asset Legislation

Representative Patrick McHenry, not seeking reelection in 2025 and chair of the US House Financial Services Committee, expressed optimism for digital asset legislation passing before his political career concludes. At the Bitcoin Policy Summit in Washington, D.C., McHenry highlighted his aspirations for the remainder of his term, focusing on the advancement of digital asset regulation.

Microsoft AI Plans Extended Investments in the UK

Microsoft AI, under CEO Mustafa Suleyman, commits to a substantial, enduring investment in the UK, focusing on hiring "passionate innovators." The launch of a new AI hub in London marks Microsoft's artificial intelligence division's strategic move, showcasing a significant bet on the UK's innovation and technological growth potential.

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