Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges
The governor of Russia’s central bank says the creation of a common BRICS currency “requires the consent of many parties.” While emphasizing that the proposed BRICS currency “deserves attention,” the Russian central bank chief…
Robert Kiyosaki Warns US Dollar ‘Will Die’ Citing BRICS Nations’ Plan to Launch Gold-Backed Currency
Rich Dad Poor Dad author Robert Kiyosaki has warned that the U.S. dollar will die. He expects the BRICS nations (Brazil, Russia, India, China, and South Africa) to launch a gold-backed currency that will kill the USD. The famous author further…
Bitcoin Exodus: Over 855,000 BTC Withdrawn From Exchanges Since July 2020
According to current data, about 2,086,034 bitcoins were held on exchanges as of July 11, 2023. This figure is 154,160 bitcoins less than the number held on centralized trading platforms 72 days earlier, on April 30. The number of bitcoins on…
Economist Peter Schiff Warns All Banks Will Fail, People Will Suffer Massive Losses as Banking Crisis Unfolds
Economist Peter Schiff has warned that all banks will fail and anyone having a bank account will end up losing money. “No matter what happens, people are going to lose a tremendous amount as this banking crisis unfolds,” Schiff stressed. Peter…
UK Regulator Continues Crackdown on Crypto ATMs, Checks 18 New Sites
The U.K.’s Financial Conduct Authority (FCA) is proceeding with efforts to shut down all bitcoin ATMs “illegally operating” in the country. After more inspections in the past couple of months, the watchdog vowed to continue to take action against…
US Senator Expresses Concern Over Prometheum Co-CEO’s Congressional Testimony
On Monday, U.S. senator Thomas Tuberville (R-AL) published an open letter to U.S. attorney general Merrick Garland and Securities and Exchange Commission (SEC) chairman Gary Gensler expressing concern over allegations that Prometheum, Inc., a…
Bots Sending BTC — Lightning Labs Releases New Tools for AI-Bitcoin Integration
On July 6, Lightning Labs released new developer tools to enhance the intersection of artificial intelligence (AI) and Bitcoin. The layer two (L2) startup introduced a new specification known as L402 and tools that enable AI systems to conduct…
PRESS RELEASE. VICTORIA, Seychelles, July 11, 2023 – Bitget, top crypto derivatives and copy trading platform, has launched an AI-powered feature for its Grid Trading strategies. The new feature aims to make this sophisticated investment…
Crypto Market Remains in ‘Bitcoin Season’ as ‘Altcoin Season’ Drought Hits Record Two-Year Mark
According to data, the cryptocurrency ecosystem has endured its longest stretch without an altcoin season. So far, it has been more than two years without an altcoin season, and there have been no signals indicating one might emerge. Altcoin Season…
Biggest Movers: MATIC up 8%, as SOL Nears Fresh 2-Month High
Polygon was a notable mover on Tuesday, as the token surged by as much as 8% in today’s session. The move saw the cryptocurrency hit a one-month high, following a recent five-day bull run. Solana also rose higher, following a sell-off to start the…
Members of the BRICS alliance are meeting at a summit in Johannesburg, South Africa, in August, focusing attention on the potential for the BRICS bloc to create a gold-backed reserve currency. However, Subrahmanyam Jaishankar, India’s…
Bitcoin, Ethereum Technical Analysis: ETH Over $1,900 as Greenback Weakens on Tuesday
Ethereum moved briefly above the $1,900 level on Tuesday, as the U.S. dollar weakened versus several G7 currencies. The biggest fall came versus the British pound, with USD/GBP hitting a 15-month low. Bitcoin also rose higher, climbing past $31,000…
Child-Focused Egyptian Fintech Startup Secures $1.5 Million in Funding
Egyptian fintech startup Masroofi recently raised $1.5 million through an investment round supported by unnamed investors. The capital raise came shortly after Masroofi’s co-founders reportedly rejected a funding offer from investors in the…
Unidef Launches Revolutionary Initiative to Assist Crypto Community Affected by Centralized Platforms Misconduct
PRESS RELEASE. Dubai, UAE — Jul 11, 2023 – In an unprecedented move, Unidef (unidef.org), a global organization advocating for decentralized empowerment, has taken an extraordinary step to safeguard the crypto community that has been…
Standard Chartered Raises Bitcoin Price Forecast — Now Expects BTC to Reach $50,000 This Year, $120,000 Next Year
Banking giant Standard Chartered has updated its bitcoin price forecast. The bank’s head of crypto research now expects bitcoin to reach $50,000 this year and $120,000 the following year. “Increased miner profitability per bitcoin…
Japanese Gaming Giant Sega to Pull Support From ‘Boring’ Blockchain Games
Sega, one of the biggest game developers in Japan, has recently announced changes regarding its blockchain and Web3 gaming policy. The company announced it would not involve its largest franchises in blockchain initiatives, avoiding a possible…
Economist Jim Rickards: ‘Biden Is Now a World Historic Figure — He Has Destroyed the Dollar’
Jim Rickards, economist and best-selling author, has accused the Biden administration of destroying the U.S. dollar as a reserve currency. Rickards stated that Biden is to blame for the upcoming marginalization of the U.S. dollar at the hands of a…
India Poised to Leapfrog Major Economies, Becoming World’s Second-Largest by 2075, Goldman Sachs Report Predicts
In a recent report, Goldman Sachs Research details that India is set to outpace Japan, Germany, and the U.S. to become the world’s second-largest economy by 2075. The financial institution’s researchers predict a dramatic expansion in…
Former Paxful CEO Ray Youssef Urges Platform Users to ‘Cease Trading’
On July 7, Ray Youssef, the former CEO of Paxful, told users of the peer-to-peer crypto marketplace to stop trading on the platform. Youssef claimed that Paxful is now “just paying legal bills” and that “no African or any…
Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows
A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by…
Egypt Struggles With Skyrocketing Inflation and Depreciating Currency, While Bitcoin Nears Record High in the Country
According to the Egyptian Statistics Bureau, Egypt’s annual inflation rate hit 36.8% in June, a staggering 33.7% increase from May’s inflation rate, breaking records. Egypt, the world’s 14th most populous country, grapples with…
Matrixport’s Year-End 2024 Prediction: Bitcoin to Reach $125,000 as Strong Performance Fuels Bullish Sentiment
While bitcoin has shown strong performance in the first half of 2023, Markus Thielen, the head of research at crypto firm Matrixport, released a prediction on July 5, 2023, stating that bitcoin (BTC) will reach $125,000 by the end of 2024…
Binance US Arbitrage: Social Media Users Say BTC Discount Not Indication of an Opportunity
For several days since Binance US announced the resumption of withdrawals, bitcoin (BTC) has changed hands at a discount and was trading at more than $2,500 below the prevailing market price on July 10. The emergence of a discount on crypto assets…
Biggest Movers: BNB Rebounds on Monday as SOL Slips Following Recent Gains
Binance coin was one of Monday’s biggest gainers, as the token rebounded following a move close to a key support point on Sunday. The move pushed the price near a one-week high, and came as the global crypto market cap fell 0.07% lower as of…
Google Trends Data Reflects Rising Interest in BRICS Bloc and De-Dollarization Searches
Set to take place in less than two months, the upcoming BRICS Summit in Johannesburg, scheduled for August 22 to 24, has captured global attention. Anticipation is mounting as ministers from the BRICS countries convene to explore potential avenues…
Bitcoin, Ethereum Technical Analysis: BTC Remains Near $30,000, as Traders Prepare for Key US Economic Data
After a recent slip, bitcoin moved back above $30,000 on Monday, ahead of a key week of U.S. economic data, with the headline being the inflation report. Inflation is expected to drop to 3.1% in June, which would be a nearly two-year low. Ethereum…
Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq
Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims…
Latam Insights — Bolivia Calls for De-Dollarization, Reserve Drops Fiat Services
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Bolivian President Luis Arce calls for de-dollarization at the Southern Common Market Summit, Reserve drops…
BLU Mission Forms Strategic Partnership with Unidef to Foster Decentralization
PRESS RELEASE. Dubai, UAE — July 10, 2023 – Today, BLU Mission, an organization committed to the growth and integrity of the broader crypto ecosystem, is excited to announce its partnership with Unidef (unidef.org). The collaboration aims to…
SEC States Coinbase Misinteprets Howey Test, Misuses Major Questions Doctrine
The U.S. Securities and Exchange Commission (SEC) answered the latest filing of Coinbase by shooting down the arguments presented by the exchange to throw out the ongoing lawsuit. The filing reaffirms the institution’s jurisdiction on…
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