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Judge Rules Against FTX in Genesis Bankruptcy Mediation Case


FTX will not be allowed to join in the mediation between now-bankrupt crypto lender Genesis Global and its parent company, Barry Silbert’s crypto conglomerate Digital Currency Group (DCG), a judge has ruled. In the ruling, US Bankruptcy Judge Sean Lane decided against FTX's inclusion in...

Japanese Banking Giant MUFG to Deploy Stablecoins on Public Blockchains


Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced its plans to deploy and distribute bank-backed stablecoins on different public blockchains. The Japanese bank has partnered with Datachain, a blockchain interoperability company, and Toki, a cross-chain bridge, to allow...

BRICS Nations to Encourage Use of Local Currencies in Trade


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...

Indian and Russian Foreign Ministers Discuss Cooperation in BRICS, G20, SCO


Indian external affairs minister and Russian foreign minister have held a meeting to discuss cooperation within the BRICS, the Group of Twenty (G20), and the Shanghai Cooperation Organization (SCO). The two countries have been shifting to settlements in national currencies, reducing their...

Xi Jinping and Putin Discuss BRICS Cooperation With Brazil’s President


Chinese President Xi Jinping and Russian President Vladimir Putin engaged in phone conversations with Brazilian President Luiz Inácio Lula da Silva regarding their joint work within the BRICS group ahead of the economic bloc’s leaders’ summit. Lula has been a vocal advocate of ditching...

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