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FameEX Morning Crypto News Recap | July 3, 2023

2023-07-03 13:12:50

Liquid Staking DeFi Platforms Safeguard Nearly $20B Worth of Ethereum, Surpassing 10 Million Tokens
Recent data reveals that liquid staking derivatives platforms have secured over 10 million Ethereum, amounting to nearly $20 billion. Lido Finance and Rocket Pool, two prominent decentralized finance protocols, witnessed impressive 30-day growth rates ranging from 7.57% to 9.69%.

June Redemptions Devastate Stablecoin Economy, Erasing Over $2 Billion
Recent statistics indicate that the market capitalization of the stablecoin economy has dipped below $129 billion to reach $128.21 billion on July 2, 2023. Over the span of a month, approximately $2 billion worth of stablecoins have been withdrawn from the token economy, starting from May 28.

Web3 Concept Familiar to 40% of South Africans
According to a Consensys survey, around 40% of South African participants are acquainted with the Web3 concept. Furthermore, a significant 80% of respondents believe that the underlying technology behind cryptocurrencies has the potential to "transform or fully rebuild the financial system."

Ethereum Co-Founder Vitalik Buterin Views SEC Crypto Enforcement Actions as Competition with the Centralized World
Vitalik Buterin, co-founder of Ethereum, shared his perspective on the recent enforcement actions by the U.S. Securities and Exchange Commission (SEC) targeting the crypto industry. He noted that projects like Solana were affected by these actions and highlighted that the true competition lies with the "centralized world."

Federal Reserve Chair Advocates Enhanced Measures to Address Inflation, Contemplates Consecutive Interest Rate Increases
Federal Reserve Chair Jerome Powell has reiterated the central bank's hawkish position. Powell emphasized that recent economic data suggests the Fed's policy may need to be more restrictive and maintained for a longer duration. He indicated the possibility of consecutive interest rate hikes in upcoming meetings.

Biden Vows to Close Crypto Tax Loopholes and Achieve Fairness in the US Tax System

U.S. President Joe Biden has pledged to create a fair federal tax system by closing tax loopholes for crypto traders and hedge fund managers. His objective is to achieve fairness by ensuring that the wealthy, super-wealthy, and large corporations bear the burden while protecting the middle class from tax increases.

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

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