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Indian and Russian Foreign Ministers Discuss Cooperation in BRICS, G20, SCO
2.6.2023
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...
Economist Peter Schiff Warns of US Dollar Crisis and ‘Catastrophic End’ — National Debt Will ‘Spiral out of Control’
2.6.2023
Economist Peter Schiff has warned of an impending U.S. dollar crisis. He predicted that with the new debt ceiling deal, “reckless government spending and borrowing will continue until a sovereign debt and U.S. dollar crisis bring it to a catastrophic end.” Peter Schiff’s Latest...
Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin
1.6.2023
The Hong Kong trust company says the new FDUSD combines the stability of the U.S. dollar with the reliability of Asian regulation
MakerDAO Votes to Ditch $500M in Paxos Dollar Stablecoin From Reserve Assets
1.6.2023
The result is a significant blow for Paxos as MakerDAO currently holds roughly half of USDP’s total supply
Tether Surpasses Previous Market Cap Record, Reaching $83.23 Billion
1.6.2023
On June 1, 2023, the stablecoin issuer Tether exceeded the dollar-linked token USDT’s previous all-time market capitalization record of $83.2 billion, which was set in May 2022. In the last 186 days, USDT’s market value has surged by 27.15% from the low of $65.43 billion reached...
Lula Proposes to Revitalize South America Union USAN; Reinforces Need of Shifting Away From US Dollar
1.6.2023
Luiz Inacio “Lula” Da Silva, President of Brazil, remarked on the need to retake South American integration mechanisms through the Union of South American Nations (USAN). Lula also proposed to shift away from the U.S. dollar by using a standard reference currency for bilateral...
Kenyan President William Ruto Urges African Countries to Commence Process to Ditch the Dollar
1.6.2023
Kenyan President William Ruto recently urged his counterparts on the African continent to kickstart the process of ditching the U.S. dollar and replacing it with a pan-African settlement system. Ruto said the Pan-African Payments and Settlement System (PAPSS) allows business people to focus...
US Lawmakers Introduce Bill to Halt Federal Reserve’s Digital Dollar Testing, Citing Concerns for American Liberties
1.6.2023
U.S. lawmakers have introduced a bill to prohibit the Federal Reserve from “establishing, carrying out, or approving a program intended to test the practicability of issuing” a central bank digital currency (CBDC). “CBDCs would threaten the liberties of law-abiding Americans and are being used...
Central Banks Show ‘a Lot More Pessimism’ About US Dollar, Survey Shows
1.6.2023
The latest gold reserves survey by the World Gold Council shows that central banks are less optimistic about the future role of the U.S. dollar while their confidence in gold has risen. “There was basically a lot more pessimism about the U.S. dollar and a lot more optimism for gold,”...
Stablecoin Economy Reaches 20-Month Low as BUSD Redemptions Surpass 10 Billion Tokens in 3 Months
31.5.2023
Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have been redeemed thus far. Within the span of...
Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report
31.5.2023
Earlier this year KuCoin closed a $10 million funding round into CNHC
BRICS Bank to Offer More Loans in Local Currencies — President Calls for ‘Diversified Global Currency System’
31.5.2023
The New Development Bank (NDB), aka the BRICS bank, is seeking to offer more loans in local currencies to reduce dependence on the U.S. dollar and avoid foreign exchange risk. “We need to create a diversified global currency system,” NDB’s president stressed, adding: “In the future, it...
Russia Actively Shifting to Settlements in National Currencies, US Dollar Share Declining, Says Foreign Minister
31.5.2023
Russia is actively shifting to settlements in national currencies with its partners, Foreign Minister Sergey Lavrov has affirmed. He expects the transition away from the U.S. dollar to only gain momentum. “This is true not only for Africa, but also for Latin America, our Asian friends, as well...
Price analysis 5/29: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC
29.5.2023
The news of a tentative debt ceiling deal bolstered Bitcoin’s price above $28,000, but higher levels continue to attract selling from the bears
Bitcoin erodes 4% gains as BTC price downside targets stretch to $23K
29.5.2023
A spike above $28,000 begins to fade as the new week begins, while a U.S. holiday means no external BTC price triggers from equities
South African Rand Plunges to New Low After Benchmark Interest Rate Is Raised to 14-Year High
29.5.2023
The South African fiat currency’s exchange rate versus the U.S. dollar plunged to a new all-time low of 19.7640 per dollar on May 25 just moments after the South African Reserve Bank raised the benchmark interest rate to its highest since 2009. Although the currency has since made some...
Chinese Yuan to Replace US Dollar as World’s Reserve Currency, Says Russian Banker
29.5.2023
Russia’s second-largest bank’s chairman says there is every reason to expect the Chinese yuan to replace the U.S. dollar as the world’s main reserve currency. He highlighted that the central bank of Russia has already begun investing its reserves in yuan, and over 70% of the trade turnover...
‘Weaponization Project of the Dollar’: Asian Countries Talk De-Dollarization; Jim Rogers Says USD’s Time ‘Coming to an End,’ and More — Week in Review
28.5.2023
The future fate of the U.S. dollar continues to dominate financial news, as investor Jim Rogers says the USD’s time is “coming to an end,” and nine Asian countries have been discussing de-dollarization measures in Iran. In other news, an expert has predicted that the price of gold...
Russian State Duma Chairman: ‘US National Debt Is a Global Financial Pyramid’
28.5.2023
Vyacheslav Volodin, chairman of the Russian State Duma, the lower house of the Russian Federal Assembly, has stated that U.S. debt has become a “global financial pyramid” whose objective is to “deceive other nations and people.” Volodin also explained that the ability of...
Trade Bloc of Former Soviet States Ditches Dollar in 90% of Settlements
27.5.2023
Trading within a Russia-led regional organization has effectively moved away from the U.S. dollar, according to the deputy head of the Russian government. The use of national currencies in the bloc’s transactions has reached around 90%, the official pointed out. EAEU Replaces Dollar in Trade With...