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Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation Claims


The Ethiopian Prime Minister, Abiy Ahmed, has defended the decision to float the birr and insisted that this move does not amount to the devaluation of the currency. Ahmed stated that the intention is to unify the official and parallel market exchange rates. Reports suggest that Ethiopia’s decision...

Bank of Russia Expects Wide Adoption of Digital Ruble Within 5 to 7 Years


Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits it offers to Russian citizens. During a speech at the Federation Council, Nabiullina stated that it would be widely adopted...

UAE Bank Launches VASP-Focused Accounts for Managing User Funds


Commercial Bank of Dubai (CBD), a United Arab Emirates-based bank, has launched dedicated accounts for virtual asset service providers to manage client funds. CEO Bernd van Linder said the move aligns with CBD’s core banking services and supports the bank’s plans to foster the digital economy. VASP...

India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses


India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement...

US Senator Discusses Trump’s Bitcoin Plan and National BTC Stockpile


U.S. Senator Bill Hagerty has discussed former President Donald Trump’s bitcoin plan, which includes creating a national bitcoin stockpile. The lawmaker expects to see several legislative proposals beyond what Trump announced. He believes this move will establish credibility for the currency...

Nvidia Just Grew By $329 Billion In A Single Day


Nvidia started as a humble graphics card maker. Now it’s riding the tech industry’s AI obsession to absurd new heights. The company added $329 billion to its market cap on Wall Street today after a record-breaking day of stock trading, Bloomberg reports.Read more

Russian Diplomat: El Salvador Proposes Settling Trade With Crypto


El Salvador has proposed using cryptocurrency as an alternative payment method for trade with Russia. The Central American nation has reportedly expressed interest in joining the BRICS bloc and may formally apply for membership within one or two years. Ukraine-Russia Conflict Echoes in Central...

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