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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…

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…

Iowa Resident Scammed of $6,600 in Bitcoin ATM Scheme, Police Launch Investigation

On July 7, 2023, a Clive, Iowa resident fell victim to a scammer posing as a Polk County sheriff’s deputy, who coerced the individual into depositing $6,600 into a bitcoin automated teller machine (ATM). The Clive Police Department insists…

BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says

An Iranian official has stated that Iran stands to benefit from a gold-backed common BRICS currency. The official further asserted that such a BRICS currency would erode the U.S. dollar’s dominance and result in increased wealth for Iranians…

Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance

U.S. Treasury Secretary Janet Yellen has stated that she does not see the U.S. dollar’s dominance being threatened by any development, including the proposed BRICS currency. Yellen stressed that all the data of which she is aware shows that the…

Bitcoin Mining Difficulty Set to Surge: Record-Breaking Increase Looms, Erasing Recent Reduction

According to data recorded on July 9, 2023, Bitcoin’s next difficulty adjustment is estimated to rise between 4.74% and 7.7%, erasing the 3.26% reduction that occurred on June 28. Moreover, the total network hashrate achieved a 24-hour…

Report: Crypto Industry Boasts 10,000 Companies and 190,000 Professionals With a Collective Valuation of $180 Billion

A recent report released by K33 Research three days ago reveals that as of July 2023, the cryptocurrency industry boasts approximately 10,000 companies, employing an estimated 190,000 crypto professionals. Notably, K33 provides a comprehensive…

Eurozone Inflation to Remain Higher Than 2% Target in Next 2 Years, ECB’s Lagarde Admits

Inflation in the eurozone has started to decline but the area’s monetary authority expects it to remain above its target in the next two years. The European Central Bank has to do more to bring it down, its governor commented on the backdrop of…

World Gold Council’s Mid-Year Report: Gold Set for a Neutral Second Half Under Economic Uncertainty 

On July 6, 2023, the World Gold Council (WGC) released its 2023 Mid-Year Outlook, revealing that a “strong first half for gold is likely to give way to a more neutral H2.” According to WGC researchers and market strategists, central…

Vitalik Calls Out ‘Centralized World’ Stifling Crypto Innovation, Tim Draper Adjusts BTC Price Prediction, and More — Week in Review

“The real competition is not other chains, it’s the rapidly expanding centralized world that is imposing itself on us as we speak.” So says Ethereum co-founder Vitalik Buterin addressing the current volatile regulatory realities in…

Tom Brady Lost $30 Million in FTX Stock After Exchange’s Collapse, Report

Former National Football League (NFL) quarterback Tom Brady has reportedly lost tens of millions of U.S. dollars in stock of the failed crypto exchange FTX. Brady is one of several celebrities sued by FTX customers for their endorsements of the…

Grayscale Adds Lido’s LDO Token to Defi Fund, Token Becomes Second-Heaviest in Fund’s Basket

On July 7, 2023, the digital asset manager Grayscale Investments published an update on three of its funds — the Digital Large Cap Fund, the Defi Fund, and the Smart Contract Fund. Although no new tokens were added to two of the funds…

CZ Says News of Exec Departures at Binance Is FUD

Founder of Binance, Changpeng Zhao (CZ), sought to downplay the significance of the exits of some executives at the crypto exchange, describing news about them as “more FUD” (fear, uncertainty, and doubt). The managers are leaving during an ongoing…

Lawyer Outlines What Would Happen if SEC Wins Lawsuit Against Ripple Over XRP

A lawyer has outlined what he believes to be the most likely outcome if the U.S. Securities and Exchange Commission (SEC) wins against Ripple Labs and XRP is declared a security. He expects Ripple to appeal if the SEC wins, warning: “If…

BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention

The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to…

Democratic Presidential Candidate Robert Kennedy Jr Holds Up to $250,000 in Bitcoin, Records Show

According to a report published on Friday, Robert F. Kennedy Jr., a Democratic presidential candidate, holds between $100,000 to $250,000 in bitcoin (BTC). The holdings contradict his statements at the Bitcoin 2023 conference in May, where Kennedy…

JPMorgan Analysts Say Spot Bitcoin ETF Approval Is ‘Unlikely to Be a Game Changer for Crypto Markets’

In a report published on Thursday, JPMorgan analysts suggest that the approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) is “unlikely to be a game changer for crypto markets.”…

NFT Sales Witness 23% Decline This Week, Ethereum Dominates With $130 Million in Sales

During the first week of H2 2023, non-fungible token (NFT) sales witnessed a 23.39% decline compared to the previous week, marking a two-week downward trend. A total of $195.95 million worth of NFT sales occurred, with Ethereum-based NFTs…

Monero Maintains Stability Amid Crypto Market Volatility, Remains Top Privacy Token With $3B Market Cap

In the last half-year, there has been a remarkable surge in the value of crypto assets such as bitcoin and ethereum. BTC has skyrocketed by 77%, while ETH has experienced an impressive 44% leap. On the other hand, the leading privacy-focused…

Central Bank of Russia: Digital Ruble Could Be Launched as Soon as 2025

Olga Skorobogatova, first deputy chairman of the Central Bank of Russia, indicated that the launch of the digital ruble, the Russian central bank digital currency (CBDC), could happen in 2025. The pilot test for the CBDC will be organized later…

New York Federal Reserve and US Banks Complete Programmable Dollar CBDC Test

The New York Federal Reserve and a group of financial institutions announced the successful conclusion of a proof-of-concept of the Regulated Liability Network (RLN), which contemplates the introduction of a dollar-based interbank central bank…

Pop Icon Taylor Swift Signed $100M Deal With Crypto Exchange FTX, New Reports Claim

Taylor Swift, a pop icon and 12-time Grammy Award winner, did sign an agreement with bankrupt cryptocurrency exchange FTX, new reports claim. However, FTX executives reportedly convinced former FTX CEO Sam Bankman-Fried (SBF) to reconsider and…

Arthur Hayes Insists ‘Bitcoin Will Be the Currency’ of Artificial Intelligence

In a freshly unveiled blog piece, Arthur Hayes, the former CEO of crypto derivatives platform Bitmex, posits that bitcoin is the prime currency for artificial intelligence (AI). Hayes maintains that moving forward, BTC will be the favored currency…