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Nigeria Passes ‘National Blockchain Policy,’ Industry Player Says Central Bank Unlikely to Lift Crypto Ban

The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations…

Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue

Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is…

Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals

Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid…

ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says

The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator…

Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi

Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. “Iran wants to have constructive relations with all states on the basis of common…

Chatgpt ‘Is the New Crypto,’ Meta Says Malware Actors Exploit AI Craze

A growing number of malware creators are now taking advantage of the significant interest in Chatgpt to lure victims, Facebook owner Meta has noticed. According to its head of information security, the AI-based chatbot is “the new crypto” for bad…

Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default

As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury…

Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases

Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45%…

Florida Takes a Stand Against CBDCs: Anti-CBDC Bill Receives Overwhelming Support in House and Senate

In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The…

US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023

2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a…

Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May

Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will…

IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar

International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the…

Play-to-Earn Is Dead, But ScapesMania’s Launch Brings a Vital Alternative In Light of the P2E Apocalypse

PRESS RELEASE. P2E projects have reached a dead-end due to the inherent issues of the model. Token Prices and user bases are plummeting and revenue streams of such projects are no longer functioning. So, is this it for the P2E, and is there a way…

Ukraine, US Shut Down 9 Cryptocurrency Exchanges

Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various…

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet

Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the…

Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’

U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It

Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase

Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in…

White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining

On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president’s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets…

Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’

The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the…

BRC20 Token Standard Sparks Frenzy in Bitcoin Community With Market Cap Surpassing $95 Million

As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the…

Global Law Enforcement Agencies Dismantle Darknet Marketplace Monopoly Market, Arrest 288 and Seize $53.4 Million

On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million…

Iran Sets Up Platform to Facilitate Crypto Payments for Imports

Authorities in Iran are taking steps to make crypto payments easier for companies importing goods in the sanctioned country. A dedicated platform has been established to allow local businesses to transfer cryptocurrency for the purpose of…

Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say

Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian…