FameEX Morning Crypto News Recap | June 12, 2024

JPMorgan Report: Investors Optimistic About US Election's Market Impact

JPMorgan Chase reported that market consensus expects former President Trump to win the White House, Republicans to take the Senate, and Democrats to control the House. Investors are optimistic about the US election's market impact. Additionally, only 12% of survey respondents see the election as the biggest market threat.

EU Report Warns: Bitcoin's Lightning Network and Other L2 Solutions Could Be Exploited by Criminals

A European Union report highlights that Bitcoin's Lightning Network and other L2 solutions are seen as "data obfuscation" technologies potentially "abused by criminals." It notes that the Lightning Network's "two-party multi-signature payment channels" only broadcast channel openings and closings to the blockchain, which could complicate law enforcement investigations.

Three Democratic Senators Urge Federal Reserve to Lower Interest Rates

In a letter to the Federal Reserve, three Democratic senators urged for interest rate cuts, suggesting the Fed abandon its 2% inflation target. They argued that prolonged high interest rates have harmed the economy and failed to tackle key inflation drivers. Additionally, they noted that high rates have increased costs for housing, construction, and auto insurance.

Russia Plans First Cross-Border Payment with Digital Ruble in Second Half of Next Year

Russia plans to use the digital ruble for its first cross-border payment in the second half of next year. Anatoly Aksakov, chairman of the Russian State Duma Financial Market Committee, mentioned that CBDC transactions with China or Belarus are being considered. Prior to these cross-border tests, Russia had already initiated domestic CBDC promotion.

World Bank: US Economy Strong, Global Growth Forecasts Increased

The World Bank announced on Tuesday that its 2024 global economic growth forecast has been slightly raised, thanks to the stronger-than-expected performance of the US economy. However, it cautioned that overall output will remain below pre-pandemic levels by 2026. Deputy Chief Economist Ayhan Kose noted that sharp interest rate hikes have reduced inflation without causing significant unemployment or disruptions.

Trump Meets with US Bitcoin Mining Leaders, Pledges Support for Cryptocurrency Mining Industry

Trump met with the CEO of Bitcoin Magazine and representatives of US Bitcoin mining companies, pledging his support for the cryptocurrency mining industry.

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