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Bitcoin Reaches All-Time High Against Chinese Yuan, Exposing Central Bank Practices
28.2.2024
Bitcoin has hit an all-time high (ATH) against the Chinese Yuan (CNY) in the early morning. This follows a remarkable rally in the price of Bitcoin in the last two weeks as hype around the Bitcoin halving event builds.
The post Bitcoin Reaches All-Time High Against Chinese Yuan, Exposing Central...
Ethiopia’s Affordable Hydropower and Adoption of Crypto Mining Attracts Chinese Bitcoin Miners
13.2.2024
The Ethiopian state electricity company has reportedly signed power supply agreements with 21 mainly Chinese bitcoin miners. The African country’s pursuit of foreign exchange has seemingly taken precedence over the concerns often raised by climate change advocates. Ethiopia Set to Become...
Russian President Putin Discusses Dedollarization — Calls US Dollar Weaponization a ‘Grave Mistake’
11.2.2024
Russian President Vladimir Putin says the U.S. dollar is the main weapon used by the United States to preserve its power across the world. However, he stressed that when “the political leadership decided to use the dollar as a tool of political struggle, a blow was dealt to this American...
Bitcoin Flat as Traders Look Forward to the 'Year of the Dragon'
5.2.2024
Market enthusiasts expect the year of the dragon to bring good fortune for the crypto market, but more traditional analysts advice caution
UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud
2.2.2024
The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors. British Police Seize Over...
US Sanctions on Russia Similar to Planting a ‘Bomb Under the Dollar,’ Says Russian Analyst
30.1.2024
The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy...
Chinese Investors Are Turning to Crypto Amidst a National Stock Market Slump
27.1.2024
Chinese investors are increasingly putting part of their portfolios in cryptocurrency due to the state of the national stock market. According to reports, investors are using exchanges like Binance or Okx, or Hong Kong local exchanges, to purchase crypto using payment methods like Alipay...
Chinese Chess Champ Stripped Of Title After Taking A Dump In A Bathtub
28.12.2023
When you accomplish something big, like winning a major tournament, how do you celebrate? Maybe you jump around in excitement, salty rivulets streaming down your face in a rush of emotions. Maybe you pop a bottle of champagne and spray it around like an NFL player after the Super Bowl. Or,...
Xi Jinping Vows No Hegemony in China’s Approach to US, Aiming for Stable Ties
16.11.2023
On Wednesday, Chinese President Xi Jinping delivered a speech emphasizing China’s aspiration for harmonious ties with the United States. The Chinese head of state conveyed his vision of an enhanced “friendship in the new era” between the two influential countries. He firmly...
Economist Peter Schiff: Complete Separation of US-China Economies Would Be ‘a Disaster for America’
12.11.2023
Economist Peter Schiff has warned that a complete separation of the Chinese and U.S. economies would be “a disaster for America, but a boon for China.” He explained: “Americans would be stuck with fewer goods and higher prices, while the Chinese would be rewarded with more goods and lower...
People’s Bank of China Governor Vows to Curb Crypto Speculation
23.10.2023
The new governor of China’s central bank has promised to stop speculation associated with cryptocurrency transactions in the country. Pan Gongsheng made the vow in a report detailing measures to maintain the stability of the Chinese financial market and prevent risks. PBOC Prepares to Crack Down...
China Opens Digital Yuan Park in Shenzhen
14.10.2023
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen...
Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance
28.9.2023
In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...
JPMorgan Analyzes De-Dollarization Risk, Potential for Chinese Yuan to Displace US Dollar as Reserve Currency
5.9.2023
JPMorgan has provided an analysis of the risks of de-dollarization and the potential for the Chinese yuan to displace the U.S. dollar as the world’s reserve currency. The global investment bank says the renminbi could assume “some of the current functions of the dollar among non-aligned countries...
Chinese Yuan Not Ready to Topple US Dollar as World Reserve Currency, Says Strategist
2.9.2023
A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the “weaponization” of the USD is one of the top reasons why Russia, China, and other BRICS nations have been seeking an alternative...
US Lawmaker: Americans Don’t Need CBDC That Can Track Purchases Like China’s Digital Yuan
1.9.2023
Several lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). “Americans have a right to financial privacy,” one congressman said, emphasizing: “We do not need a CBDC that can track your purchases like China does...
US Dollar Dominance in Global Payments Strengthens, SWIFT Data Shows
27.8.2023
The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan...
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
26.8.2023
The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the countries and secure the payment of Brazilian...
BRICS States Should Tackle AI Risks Together, Xi Jinping Says
25.8.2023
BRICS nations should address the risks related to artificial intelligence (AI), Chinese President Xi Jinping said during the group’s summit in South Africa. China’s leader is also convinced that the members of the economic bloc must work to standardize the technology. BRICS Should Strive for...
Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist
23.8.2023
An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have...