FameEX Morning Crypto News Recap | January 8, 2025

U.S. Senator Talks Digital Asset Legislative Reform with SEC Chairman Nominee

U.S. Senator Cynthia Lummis met with SEC chairman nominee Paul Atkins to discuss digital asset legislation and regulatory reforms. She hinted at potential future changes and humorously proposed making the SEC more streamlined and efficient.

Corporate Bitcoin Holdings Surge 63% Over the Past Year

Bitwise research director Ryan Rasmussen reported that corporate Bitcoin holdings rose 63% over the past year, increasing from 262,635 BTC in Q4 2023 to 590,649 BTC in Q4 2024, reflecting growing institutional interest in Bitcoin as a strategic asset.

Gensler to Step Down as SEC Chairman in Just 13 Days

As of January 7, only 13 days remain until Gary Gensler steps down as chairman of the U.S. Securities and Exchange Commission (SEC). Gensler previously announced on November 22, 2024, that he would resign effective January 20, 2025.

U.S. Bankruptcy Filings Hit 686 in 2024, Highest Level Since 2010

In 2024, U.S. corporate bankruptcy filings rose 8% year-on-year to 686, the highest since 2010. At least 30 companies reported debts exceeding $1 billion. Filings surged from 636 in 2023, following 777 total cases in 2021-2022. Fitch Ratings noted a 2:1 ratio of out-of-court restructuring to bankruptcies.

Analysts Predict Altcoin Season in 2024 Will Differ from 2021, Driven by Gradual Liquidity Inflows

Cryptocurrency analyst Miles Deutscher highlighted that the 2024 altcoin season will differ from 2021, which experienced widespread dilution due to an influx of new projects. Rather than simultaneous gains across all altcoins, growth is expected to focus on specific sectors like AI and Meme coins, indicating a more selective rotation.

Musk States X Platform Has No Immediate Plans for Cryptocurrency Payments

Elon Musk stated during an X stream discussion that cryptocurrency payments won’t be implemented on the X platform in the near future due to licensing requirements. Instead, he is currently prioritizing fiat currency and focusing on enhancing its usability and efficiency for transactions.

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