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Exploring Crypto Whale Concentration: Unveiling the Rich Lists of the Top 10 Cryptocurrencies
22.6.2023
In the past ten years, a myriad of digital currencies have emerged alongside bitcoin, forming a cryptocurrency ecosystem now worth $1.2 trillion. Within this realm, enigmatic figures known as crypto whales have played a pivotal role in the distribution, trading, and accumulation of coins across...
Crypto payment solution Ramp expands on-ramp service, adds support for 40 fiat currencies
21.6.2023
Ramp expands its platform compatibility with 40 new currencies, including the Bermudian Dollar, Costa Rican Colón, Hungarian Forint, Mexican Peso, Singapore Dollar, and Swiss Franc
IMF Working on Platform to Support CBDC Cross-Border Interoperability
21.6.2023
The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF Managing Director Kristalina Georgieva, this would...
Bangladesh Eyes BRICS Invite as Rumors Swirl of Formal Request
20.6.2023
In mid-May, several reports indicated that Bangladesh and India were engaging in currency trading using their respective currencies in order to address U.S. dollar liquidity challenges. Recent sources now reveal that Bangladesh is welcoming a formal invitation to join the BRICS bloc. Speaking...
Russia to Trial Digital Asset Settlements in Foreign Trade
17.6.2023
Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside...
Egypt Applies for BRICS Membership, Seeks Trade in National Currencies
16.6.2023
Egypt has filed an application to join the BRICS bloc, Russia’s ambassador to the Arab nation confirmed. The government in Cairo is interested in using alternative currencies in foreign trade, either national fiats or a new common currency, the diplomat unveiled. Egypt Takes Step to Join BRICS...
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
Bitcoin Dominance Soars to 47.5%: Highest Level in a Year as Other Crypto Assets Suffer
11.6.2023
On June 10, 2023, bitcoin is dominating with a market capitalization dominance of 47.5%, marking its highest level since this time last year, according to coinmarketcap.com. Meanwhile, ethereum’s dominance is holding steady at 20%, indicating that the recent dominance gains made by these...
SEC Chair Gensler Rebuts Claims Crypto Exchanges Lacked ‘Fair Notice,’ Affirms ‘Majority’ of Tokens Are Securities
9.6.2023
U.S. Securities and Exchange Commission Chair Gary Gensler discussed crypto exchanges and digital currencies at the Piper Sandler Global Exchange & Fintech Conference. He insisted that there is “nothing about the crypto securities markets that suggests that investors and issuers...
‘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...
Janet Yellen Urges Congress to Enact Stricter Regulations for Crypto Industry Amid SEC Shakedown
7.6.2023
In a recent statement, former U.S. Federal Reserve chair and current Treasury secretary, Janet Yellen, expressed her desire for Congress to enact more regulatory measures concerning the cryptocurrency industry. Yellen cited Treasury reports on cryptocurrencies that have pinpointed various risks...
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...
IOHK’s Charles Hoskinson Warns of CBDC Agenda and Potential Dystopian Future Amid Binance Lawsuit
6.6.2023
Following the lawsuit filing by the U.S. Securities and Exchange Commission (SEC) against Binance, encompassing 13 allegations of “operating unregistered trading platforms” and “participating in multiple unregistered offers and sales of crypto asset securities,” Charles...
SEC Chairman Gensler Stresses Existing Fiat Digital Currencies Are Sufficient Amid Coinbase and Binance Actions
6.6.2023
In the aftermath of the U.S. Securities and Exchange Commission’s (SEC) enforcement actions against Coinbase and Binance, chairman Gary Gensler engaged in a conversation, maintaining that further digital currencies are unnecessary. “We already have digital currency. It’s called...
BNB Plunges 9% as Binance Faces Lawsuit, Exchange’s Bitcoin Reserves Record Significant Outflow
5.6.2023
Following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its founder Changpeng Zhao (CZ), the crypto economy experienced a substantial decline of over 5% against the U.S. dollar, reaching a total valuation of $1.13 trillion. Among the leading digital...
Iran-Russia Trade Settlements Exceed 60% in National Currencies, Says Joint Chamber Chief
4.6.2023
Iran and Russia have increased cooperation and settled more than 60% of their bilateral trade in the Russian ruble and the Iranian rial, according to the chairman of Iran-Russia Joint Chamber of Commerce. The two countries have ramped up their de-dollarization efforts with Iranian President Ebrahim...
US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill
3.6.2023
Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important currencies for the world.” Lord Jim O’Neill on...
BRICS Nations to Encourage Use of Local Currencies in Trade
3.6.2023
Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate...
Russian Miners Mint Crypto Worth $700 Million a Year, Mining Bill Postponed
2.6.2023
Cryptocurrency miners in Russia have extracted digital currencies for around $700 million last year, according to a state-run fintech entity. However, the growing industry remains unregulated with the government having postponed the adoption of the respective legislation once again. Russian Crypto...