FameEX Morning Crypto News Recap | October 9, 2024

Fed Governor Kugler: Aiming for a Balanced Approach to Tackle Inflation

Federal Reserve Governor Kugler emphasized the need for a "balanced approach" to address inflation while avoiding a slowdown in employment and economic growth. He suggested that faster rate cuts may be necessary if employment risks worsen, but if data does not confirm progress toward the 2% inflation target, a slower normalization process could be more appropriate.

Harris Holds 6-Point Lead Over Trump in Polls with 51% Support

On October 8, a Newsweek poll revealed Harris leading Trump by a record-breaking margin. The Morning Consult poll, conducted from October 4 to 6, showed Harris with 51% support, 6 points ahead of Trump's 45%. The survey included 11,353 likely U.S. voters, with a margin of error of +/- 1 percentage point.

Bitcoin Mining Daily Revenue Plummets to $31 Million, While Mining Stocks See Strong Performance

Matrixport reported that since the April 2024 Bitcoin halving, daily mining revenue has significantly dropped from $70 million to $31 million. Despite this, mining stocks have remained stable and performed better than expected. Many mining companies are holding their Bitcoin inventory instead of selling on exchanges, helping to reduce market selling pressure.

South Korea's Ministry of Economy and Finance Explores Measures for Cross-Border Stablecoin Transactions

South Korea's Ministry of Economy and Finance is exploring measures to ensure the integrity of cross-border stablecoin transactions. The ministry highlighted that stablecoins are primarily used within the cryptocurrency ecosystem but could expand into the real economy as a cross-border payment and transaction method, emphasizing their growing potential beyond the crypto space.

JPMorgan Chase CEO Dimon: Artificial Intelligence Will Transform Many Aspects

JPMorgan Chase CEO Dimon stated that artificial intelligence is real and will significantly impact many areas, offering people an assistant and benefiting fundraising through private capital. He also noted that JPMorgan Chase has hired 1,000 AI staff to drive this transformation within the company.

X Social Platform Could Lift Ban After Paying 28.6 Million Brazilian Reals Fine

Brazilian authorities may lift the ban on Elon Musk's social platform X after it paid a fine of 28.6 million Brazilian reals (around $5.5 million). On October 7, X met the necessary requirements to be restored online. The ban was imposed in August when Brazil's Supreme Federal Court suspended X for not complying with an investigation into false information.

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