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Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention
18.7.2023
The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil...
India and UAE Break Away From US Dollar: Landmark Agreement Enables Trade Settlements in Rupees and Dirhams
17.7.2023
In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar. India’s prime minister Narendra Modi visited...
Nigeria Currency Presently Undervalued Says Bank of America Analysts
4.7.2023
According to Bank of America analysts, the Nigerian currency is currently undervalued and will likely end the year trading at around NGN680 per dollar. The analysts assert that higher oil revenues and a liberalized import regime will likely see Nigeria record current account surpluses in the medium...
Reports Indicate Venezuela Is Preparing to Liquidate the Petro
16.6.2023
According to reports, the government of Venezuela could be winding down the operations of the petro cryptocurrency. The decision comes after Sunacrip, the Venezuelan cryptocurrency watchdog, was set back by the alleged participation of its former head Joselit Ramirez in a potential $20 billion...
Olive-Oil Producer Issues First Euro-Stablecoin-Denominated Bond on Obligate’s DeFi Platform
1.6.2023
The debt sale was the first of its kind for the French sustainable agriculture business
Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts
18.5.2023
Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the industry determines discounts for distributors...
Witcher 3 Fans Think New Patch Gameplay Change Breaks Immersion
16.5.2023
CD Projekt Red just released a new patch for its open world RPG Witcher 3: The Wild Hunt. However, players aren’t happy with all of the changes. One of the most controversial ones is the ability to auto-apply your oils instead of doing so manually before engaging with a monster. Players...
PacWest Bank plummets 50%! How will Bitcoin react?
5.5.2023
Cointelegraph analyst and writer Marcel Pechman explains how PacWest’s plummeting share price and the continued banking crisis could impact Bitcoin
Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase
4.5.2023
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen...
Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration
22.4.2023
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud discussed potential collaboration between Saudi Arabia and the BRICS on Friday. In addition, Putin and the Saudi Crown Prince “expressed satisfaction with the level of coordination at OPEC Plus aimed...
Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of Sanctions
18.4.2023
Russia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of...
US Treasury to Attempt Coercing European Countries Into Implementing Sanctions Against Russia
12.4.2023
Officials of the U.S. Treasury Department will travel to Europe this month with the objective of getting more countries to apply punitive actions against Russia. The tour, which includes visits to Switzerland, Italy, and Germany, aims to stop the material support companies in these states provide...
Nigerian Forex Inflows: ‘Ambiguous Foreign Exchange Regime’ Blamed After Inflows Dropped to $5.32 Billion in 2022
12.4.2023
Between 2019 and 2022, the value of foreign capital that flowed into Nigeria dropped from $23.9 billion to $5.32 billion. The drop has been attributed to low investor confidence, the high cost of doing business, as well as the country’s high inflation rate. Nigeria will “struggle...
Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023
10.4.2023
After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of...
Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’
6.4.2023
Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely...
US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States
4.4.2023
After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent...
BTC price double top forming? 5 things to know in Bitcoin this week
3.4.2023
Thanks to oil production cuts to major historical resistance, among other factors, Bitcoin bulls have their work cut out to break higher
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
3.4.2023
On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of...
National Exchanges Reportedly Pause Operations in Venezuela, as Attorney General Confirms Crypto Watchdog Sunacrip Involvement in Oil Sale Schemes
28.3.2023
National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution...
How Crypto Ended Up at the Center of a Potential $20 Billion Internal Corruption Scandal in Venezuela — Bitcoin Mining Shutdown Results
24.3.2023
The establishment of sanctions by the Trump administration towards PDVSA, the state oil company in Venezuela, reportedly forced the hand of the government in the country to find alternative means of payment for crude oil. According to reports, more than $3 billion are missing from these payments...