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Argentina to Expand De-Dollarization Efforts; Seeks Extension of Yuan Based Swap Line With China
27.5.2023
The government of Argentina is reportedly seeking to expand its de-dollarization agreement with China due to the lack of dollars that the country is facing. According to reports, Economy Minister Sergio Massa would be in talks to expand the current swap line to double the available amount from...
Xi Jinping and Putin Discuss BRICS Cooperation With Brazil’s President
27.5.2023
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...
Moody’s on De-Dollarization: Rating Agency Labels US Debt Default a ‘Near-Term Danger to the Dollar’s Position’
27.5.2023
As calls for the creation of a global alternative to the greenback grow, credit rating agency Moody’s said on May 25 that rival currencies such as the euro and the Chinese yuan do not yet threaten the U.S. dollar’s position as the world’s reserve currency. The agency said...
Memecoins: From memes to multibillion-dollar pumps, scams and rug pulls
26.5.2023
Memecoins have come a long way from the early days of being joke cryptocurrencies
IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend
26.5.2023
The International Monetary Fund (IMF) does not expect a “rapid shift” in the U.S. dollar reserves despite a rising de-dollarization trend and a looming U.S. debt default. “Don’t kiss your dollars goodbye just yet,” said IMF Managing Director Kristalina Georgieva. The IMF chief does not expect...
Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months
25.5.2023
Citigroup analysts foresee a significant increase in silver’s value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank’s latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease...
Bitcoin's Hot Ordinals Economy is Getting a Dollar-Backed Stablecoin
25.5.2023
Stablecoin issuer Stably is launching a dollar-backed stablecoin for traders of Bitcoin NFTs and BRC-20 tokens
Russia and China Carry Out Most Settlements in Yuan and Ruble, Russian PM Mikhail Mishustin Says
24.5.2023
The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this year, added the head of the Russian government....
Report: Emerging Market Investors Dumping Dollar-Denominated Debt and Seeking Local Currency Bonds Instead
24.5.2023
Emerging markets investors are being attracted by local currency-denominated bond instruments while leaving dollar-denominated debt, according to data provided by EPFR Global, a fund flow and allocation data insights company. These markets have outperformed dollar-denominated debt due to...
Bitcoin, Ethereum Technical Analysis: Dollar Weakness Pushes BTC Higher, as Biden Fails to Secure Debt Deal
23.5.2023
Bitcoin rebounded on Tuesday, as a result of weakness in the U.S. dollar, following failed talks to tackle the debt ceiling crisis. President Biden stated, “We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan...
Latam Insights — Venezuela’s Maduro States De-Dollarization Is ‘Inevitable,’ Argentina Raises Interest Rates to Close to 100%
23.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Venezuela makes a push for de-dollarization, the Central Bank of Argentina raises interest rates to close to 100%, and Brazil breaks the U.S....
Nobel Prize Laureate Paul Krugman Warns of Disruption in Financial Markets Without US Dollar
23.5.2023
Nobel Prize-winning economist Paul Krugman says that no currency can play the role of the U.S. dollar. Commenting on the de-dollarization trend and the possible U.S. default, he emphasized that without the USD, “financial markets will be disrupted by the lack of any safe, liquid asset.” Economist...
Price analysis 5/22: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC
22.5.2023
Bitcoin’s tight-range trading suggests that traders are content to wait for a catalyst to start the next trending move
SWIFT Data Shows Despite De-Dollarization Push, US Dollar Is Still the King of International Settlements
22.5.2023
The share of the U.S. dollar usage for international payments has risen to 42.71% in April, despite the push of some countries towards de-dollarization. The dollar remains the most used currency in international settlements, with the euro taking second place according to data from the Society...
Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says
22.5.2023
The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking...
De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov
21.5.2023
The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency. Russia’s...
Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions
21.5.2023
From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days. Stablecoins Experience a Significant...
Rand Plunges After US Weapons Accusations Against South Africa, Schiff Criticizes Misleading Inflation Numbers, and More — Bitcoin.com News Week in Review
21.5.2023
Another exciting week in crypto and finance has come and gone, with news of U.S. government accusations against South Africa, regarding the alleged supply of the Russian state with ammunition. In other news, ten Southeast Asian nations are challenging U.S. dollar dominance, having agreed...
Renowned Investor Jim Rogers Warns US Dollar’s Time ‘Coming to an End’ as Countries Seek Alternatives
21.5.2023
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says the U.S. dollar’s time is coming to an end as more countries are seeking alternatives to the USD. “Many friends of America are moving, trying to find something to compete with...
Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration
20.5.2023
The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage...