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Consensus Pause: Majority of Economists Predict No Rate Hikes for 2023, With Cuts Delayed Until March 2024
20.8.2023
A newly published Reuters poll reveals that most economists concur: the U.S. Federal Reserve has likely capped its rate hikes. Yet, rate cuts aren’t anticipated until March 2024. This survey drops just as markets approach the annual Jackson Hole Economic Symposium scheduled for next week. All eyes...
Morocco Denies South Africa’s Claim That It Has Applied to Join BRICS: Report
20.8.2023
Morocco has reportedly denied the claim made by South Africa, the host of the BRICS summit this year, that it has formally applied to join the economic bloc. According to South African officials, over 40 countries are interested in joining the BRICS group, including 23 nations that have formally...
Dollarization Can Lead to ‘Economic Contraction and Collapse’ of Argentine Economy — Former US Treasury Official
20.8.2023
The U.S. chairperson of the Official Monetary and Financial Institutions Forum (OMFIF) has characterized the Argentinian presidential hopeful’s plan to fully dollarize the economy as “a far too risky gamble.” Mark Sobel said full dollarization without an exit policy “could...
BRICS Expansion Will Speed Up De-Dollarization, Chinese Expert Says
20.8.2023
As more countries join the BRICS economic bloc, there will be a significant increase in settlements using national currencies, leading to an acceleration in the de-dollarization process, a Chinese expert says. “For most developing countries, development is a top priority. That is why the BRICS...
BRICS Summit Looms: Expert Warns of ‘Dramatic’ Shifts, US Dollar’s Wane, and Wall Street’s Blind Spots
18.8.2023
Market expert Peter Grandich is urging the masses to keep a close eye on the BRICS bloc of burgeoning countries, hinting that specific partnerships might usher in “dramatic” ramifications. In just five days, the much-awaited BRICS Summit will convene, and Grandich believes...
Cashtokens Upgrade 3 Months Out: BCH Developers Building NFT Creator Studio, Marketplaces, Wallets, and More
16.8.2023
With the Bitcoin Cash network’s May 15 Cashtokens upgrade now three months behind us, bustling development in non-custodial wallets, marketplaces, non-fungible tokens (NFTs), games, and other applications continues unabated. Paytaca wallet CEO Joemar Taganna notes that “improvements...
Commodity tokenization is the economic aid Africa needs
15.8.2023
Commodity tokenization would enable African countries — such as Ghana and Botswana — an opportunity to empower themselves without relying on international aid
BRICS Is No Joke, Bloc Could Become G7 Counterpart, Experts Say
14.8.2023
The BRICS challenge to the world’s established economic order is not a joke, according to experts in the field of international relations. Now that the bloc, which unites leading emerging markets, accounts for over a quarter of the global gross domestic product (GDP), it could become a counterpart...
Latam Insights — Argentine Peso Touches Historic Lows, Tether Dominated the Brazilian Market
14.8.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Argentine peso reaches historic lows, Tether’s USDT accounts for more than 80% of the transactions in the Brazilian market, and Binance gets fully...
Fundstrat’s $180K Bitcoin Price Prediction, Analyst Says World War III Already Started Citing BRICS, SEC Looks to Appeal Ripple Ruling — Week in Review
13.8.2023
A Fundstrat investor note has said BTC could hit $180,000 before the upcoming block reward halving in April 2024, and an Indian analyst thinks World War III has already begun, expecting the BRICS economic bloc to merge with the Shanghai Cooperation Organization (SCO). In other news, the United...
Nigerian Currency Plunges to New Low, Central Bank Says the Naira Is Undervalued
11.8.2023
The Nigerian currency continued its slide versus the greenback when it fell to a new all-time low of NGN950 per dollar. Folashodun Shonubi, the acting governor of the Central Bank of Nigeria, insists that the naira is currently undervalued. The International Monetary Fund (IMF) has said...
US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions
10.8.2023
The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in July, primarily propelled by housing expenses. This...
Canadian Police Unit Utilizes Chainalysis Blockchain Forensics for Cryptocurrency Investigations
9.8.2023
Officials in law enforcement from Lethbridge, situated in the province of Alberta, Canada, have unveiled that the Lethbridge Police Service (LPS) is now utilizing Chainalysis blockchain forensics software. According to local reports, LPS has acquired the capacity to trace cryptocurrency...
23 Countries Apply for BRICS Membership as Leaders Prepare to Convene at Summit
9.8.2023
South Africa, the host of the BRICS summit this year, has published a list of 23 countries that have applied to become members of the economic bloc. Moreover, South African President Cyril Ramaphosa has invited 67 leaders and 20 representatives of major organizations to the BRICS summit. French...
Wall Street Divided: Treasury Yields Surge Sparks Intense Debates and Divergent Bets
8.8.2023
In recent weeks, Treasury yields have skyrocketed, igniting a Wall Street dispute over whether the precipitous sell-off is now overextended. A small group of prominent investors are wagering that bond prices will bounce back following the abrupt escalation in rates. Hedge Funds Place Bold Wagers...
Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion
8.8.2023
Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need...
Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges
7.8.2023
Seasoned commodity strategist Mike McGlone says bitcoin is now riskier relative to stocks, while he further warned that economic downturn pressures may hold silver prices at bay. Bitcoin Volatility Low, Silver Faces Challenges: McGlone In a client communication dated August 2, 2023, the prominent...
Crypto Analyst Highlights Germany's Economic Challenges and Its Surprising Implications for Crypto
7.8.2023
A weakening economy and potential recession in Germany could be positive for Bitcoin (BTC) prices, crypto analyst Marcel Pechman believes.
According to Pechman, a further fall in Germany’s gross domestic product (GDP) will likely mean that the European Central Bank (ECB) will start easing...
Latam Insights — Honduras Opens Public CBDC Consultation, Venezuela Applies to Enter BRICS
7.8.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Honduras opens a central bank digital currency (CBDC) consultation, Venezuela applies officially to join BRICS, and Trubit launches Pix payment integration...
Indian Analyst: World War III Already Started, BRICS Could Merge With SCO
6.8.2023
The president of a New Delhi-based think tank believes that World War III has already begun. He also anticipates the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) merging with the Shanghai Cooperation Organization (SCO). “A single merged organization will be much more...