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Argentina Settled Almost 20% of Its Imports in April and May Using the Chinese Yuan
20.6.2023
The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves...
China and Malaysia to Research AI for Blockchain Applications in Trade
19.6.2023
Blockchain developers from Malaysia will be working with Chinese colleagues to utilize artificial intelligence (AI) in foreign trade. The collaboration, which is part of a China-led international research program, aims to speed up cross-border transactions. Malaysia and China to Conduct AI Research...
Do Kwon denies forging passport, blames ‘Chinese' agency: Report
19.6.2023
Do Kwon has denied forging travel documentation and refuted having any financial ties to Europe Now party leader Milojko Spajić
Terra’s Do Kwon Blames ‘Chinese-named Agency’ for ‘Fake Passports’
19.6.2023
Do Kwon, the Terraform Labs founder and CEO, has told a Montenegro court that he did not know the “fake” travel documents he was allegedly trying to leave the country with were forged – and blamed a “Chinese-named agency.”
Per the South Korean media outlets Segye Ilbo and MBN, Kwon told a District...
JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy
19.6.2023
JPMorgan’s strategists have explained that even if China overtakes the U.S. as the world’s largest economy around 2030, the U.S. dollar may remain the world’s dominant currency for the rest of the 21st century. The global investment bank cited the historical experience of when...
Is the cryptocurrency market about to break its 10-week losing streak?
18.6.2023
Regulatory uncertainty and the lack of transparency on stablecoins caused crypto markets to trade at its lowest levels in 3 months
Tether Counted Securities Issued by Chinese Firms Among Its Reserves: Bloomberg News
16.6.2023
Tether Holdings Ltd. at one point counted securities issued by Chinese companies among the reserves backing its USDT stablecoin, according to Bloomberg News.
Tether at a point in time held securities issued by state-owned Chinese companies including Industrial & Commercial Bank of China Ltd....
USDT issuer Tether responds to Chinese securities exposure reports
16.6.2023
USDT issuer Tether said that they “do not condone” the behavior of the media outlets and highlighted that the materials presented do not reflect what Tether is at present
Chinese Banks Roll Out More Digital Yuan Wealth Management Options
16.6.2023
Chinese banks will let their customers pay for more wealth management products using the digital yuan, as the nation’s central bank digital currency (CBDC) continues to branch out.
Per the Chinese media outlet Financial Report Network (via Stockstar), the state-owned China Construction Bank (CCB)...
Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’
15.6.2023
An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi...
Chinese Police Warn of a Rise in Digital Yuan-themed Scams
13.6.2023
Chinese police have warned there has been an increase in digital yuan-themed scams, as the nation’s CBDC rollout gathers pace.
Per the state-run news outlet CCTV (via Xinhua), officers in Shandong Province claimed they had seen a rise in digital yuan-themed “fraud.”
They said one recent scam...
Latam Insights — Volcano Energy Bitcoin Mining Project Rises in El Salvador, Venezuelan Miners Leaving Amidst Crypto Corruption Probe
12.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to...
Russian Banker Predicts End of Dollar Dominance as Global Power Shifts
11.6.2023
Russia’s second-largest bank’s chairman has predicted the end of U.S. dollar dominance. He believes that the Chinese yuan will replace the U.S. dollar as the dominant currency. “I think that the time has come when China will gradually remove currency restrictions,” he noted, adding that...
Chinese Charities Accepting Digital Yuan Donations – More CBDC Firsts to Come?
10.6.2023
Chinese charities are now accepting digital yuan donations, with the nation’s CBDC also breaking new ground in the world of corporate loans.
Per the media outlet WXRB, the coastal province of Jiangsu has welcomed its first “online corporate and personal digital yuan donations platform.”
At...
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims
9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...
Binance humilated, HK needs 100K crypto workers, China’s AI unicorn: Asia Express
9.6.2023
Hong Kong needs 100K crypto people STAT, AliExpress’ NFT drop censored, Binance humiliated on China TV, AI unicorn grows in 100 days
‘De-Dollarization Emerging’ but Greenback Will Retain Its Dominance — JP Morgan Strategists
8.6.2023
Two JP Morgan strategists have said the U.S. dollar will retain its dominant position even as it is being challenged by alternative currencies such as the Chinese yuan. According to a report, the yuan currently accounts for just 7% of global foreign exchange trade volumes while the greenback...
Heilpern loves Bitcoin, hates bullshit… was a China state media journo: Hall of Flame
7.6.2023
Layah Heilpern has attracted a big following for her no-bullshit take on Bitcoin. Weirdly, in a former life she worked for China state media
Russian Finance Minister Talks Dollar Attack on Russia, Importance of Developing Alternatives for Settlements
7.6.2023
Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian...
Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says
7.6.2023
A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade...