FameEX Morning Crypto News Recap | July 3, 2024

Powell Hints at Gradual Fed Rate Cuts

Powell indicated that the Fed may "slowly" cut interest rates due to a strong labor market. He did not specify the timing of the rate cuts, as significant data will be released before the July and September meetings. His cautious stance aligns with expectations.

Texas Judge Approves Fast-Track Decision on SEC's Authority Over MetaMask

Fox Business reporter Eleanor Terrett revealed that in Consensys' lawsuit against the SEC, a Texas judge has approved an expedited decision on whether the SEC can regulate MetaMask. A ruling is expected by the end of the year or early 2025.

Vitalik Buterin Proposes Optimizing Ethereum Transaction Confirmation Time for Layer 2 Development Strategy

Vitalik Buterin's insights on Ethereum transaction confirmation methods have garnered attention. While Ethereum's mainnet confirmation time is comparable to credit card transactions, it lags behind the millisecond confirmations of Layer 2 solutions, posing security risks. Therefore, optimizing the mainnet's transaction confirmation time is crucial to align with the broader Layer 2 development strategy.

Tether and BTguru Sign MoU to Assess Digital Asset Education Initiatives in Turkey

On July 2, Tether signed a memorandum of understanding with BTguru, a technology and strategy company specializing in virtual and encrypted assets, to evaluate Turkey's digital asset education program. This initiative is part of Tether's broader vision for Tether EDU, aiming to make education unrestricted and accessible to everyone, everywhere.

Denmark’s Financial Supervisory Authority to Abolish Non-Custodial Bitcoin Wallets, Retain Self-Custodial Crypto Wallets

The Danish Financial Supervisory Authority plans to abolish non-custodial Bitcoin wallets to enhance supervision of crypto platform activities. They emphasize regulating "interface providers" and mobile app developers to comply with MiCA regulations. However, self-custodial cryptocurrency wallets will not be banned.

Ethereum and Solana NFT Sales Reach Record Lows in June

In June, Ethereum NFT sales dropped to approximately $140 million, the lowest since January 2021, with 373,443 total transactions, 50,908 unique buyers, and 45,645 unique sellers. Solana NFT sales also hit a low of $68.5 million, the lowest since November 2023.

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