FameEX Morning Crypto News Recap | June 9, 2025
2025-06-09 06:53:10Trump Says Fed Chair Pick Will Be Announced Soon
On June 7, President Trump announced that the Federal Reserve Chair appointment results would be revealed soon, highlighting the importance of a chair who will lower interest rates. He also discussed the possibility of cutting government contracts associated with Elon Musk.
Federal Reserve Survey: 52% of Americans Unable to Cover $2,000 in Emergency Expenses
A June 7 Federal Reserve survey revealed that 52% of Americans cannot cover a $2,000 emergency expense with savings, and 31% struggle to afford a $500 unexpected cost.
Trump Advisor Says 4.7% GDP Growth Will Back Great American Beautification Act
Trump advisor Dick Morris pointed out that Federal Reserve data shows a 4.7% GDP growth in the first two months of the quarter, surpassing the Congressional Budget Office's 1.8% estimate. He believes this growth will prevent the Great American Beautification Act from increasing the deficit.
House Financial Services Committee Reviews President Trump's Crypto Crime Legislation
Cryptocurrency journalist Eleanor Terrett reported that the House Financial Services Committee, led by Maxine Waters, will conduct a Minority Day hearing at 9:00 AM JST to review President Trump's legislation on 'crypto crime'. Key issues involve blocking Trump from participating in the cryptocurrency bill (HR 3573).
U.S. Congressman Unveils Gold Reserve Transparency Act to Mandate Comprehensive Audit
On June 6, U.S. Congressman Thomas Massie, with Troy Nehls, Addison McDowell, and Warren Davidson, introduced the Gold Reserve Transparency Act (H.R. 3795), which mandates a full audit, inventory, and examination of all U.S. gold reserves.
Hong Kong Stablecoin Regulations Require Licensed Institutions to Offer Fiat Stablecoins
Hong Kong's stablecoin regulations state that only licensed institutions can sell fiat stablecoins, and retail investors can only purchase those issued by licensed issuers.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.