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Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules
18.6.2023
The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The central bank’s decision to allow the naira to “float” came a few weeks after Nigerian president Bola Ahmed Tinubu pledged to end...
Russian President Putin Discusses End of US Dollar Dominance — Claims Russia Has No De-Dollarization Plan
18.6.2023
Russian President Vladimir Putin has discussed the end of the U.S. dollar dominance, claiming that Russia has nothing to do with the USD’s downfall. “We have never had and do not have the goal of de-dollarization,” Putin also stressed, highlighting global trends that could lead to the end of...
Robert Kiyosaki Warns More Banks Are About to Fail
18.6.2023
Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has warned that more banks are about to fail. “Regional banks and mortgage companies are falling,” he cautioned, urging investors to think for themselves and not rely on the guidance of President Joe Biden, Federal Reserve Chairman...
Kenyan President Ruto Doubles Down on De-Dollarization Call — ‘We Just Want to Trade Much More Freely’
17.6.2023
Kenyan President William Ruto has repeated his call on African countries to consider ditching the U.S. dollar when settling cross-border trades. The Kenyan leader claimed that the African continent already has a mechanism that enables the seamless settling of transactions between traders. Further...
France’s Macron Hopes to Attend BRICS Summit in South Africa, Report
16.6.2023
French President Emmanuel Macron wants to join the leaders of the BRICS nations when they meet in August, according to a press report. While his participation in the multipolar bloc’s summit is uncertain, Macron has already scheduled another summit in Paris to discuss the establishment of...
Brazil’s president signs law aimed at having central bank regulate crypto firms
14.6.2023
The decree authorizes the central bank to regulate and supervise virtual asset service providers, and ensures the country's securities regulator will continue to handle many tokens
BRICS Bank President Dilma Rousseff Calls for the Creation of a Global South Focused Financial System
14.6.2023
Dilma Rousseff, president of the New Development Bank — also known as the BRICS bank — and former Brazilian president, has called for establishing a financial architecture designed for the so-called Global South. In a keynote speech at the 14th Lujiazui Forum, Rousseff remarked on the importance...
Honduras Applies to Join BRICS Bank
13.6.2023
The government of Honduras has formally applied to become part of the New Development Bank, known as the BRICS bank, in an official visit of Honduran President Xiomara Castro to Shanghai. Honduras is now another country that has requested entry into the financial organization, alongside Argentina....
Security Agency Detains Nigeria’s Suspended Anti-Bitcoin Central Bank Governor
12.6.2023
The Central Bank of Nigeria governor, Godwin Emefiele, was suspended by Nigerian President Bola Ahmed Tinubu on June 9 and was subsequently arrested by a domestic security agency. Several reports have linked Emefiele’s suspension to the central bank’s controversial naira demonetization...
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
12.6.2023
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote....
Polygon president testifies on democratizing the internet with Web3, blockchains
8.6.2023
The House Committee explores blockchain and Web3's future, as industry leaders testify on democratizing the Internet and regulatory challenges
Ron Paul Warns Fiscal Responsibility Act Will Erode US Dollar Value, Hasten Loss of Reserve Currency Status
8.6.2023
Former U.S. Representative Ron Paul has warned that the Fiscal Responsibility Act, recently signed into law by President Joe Biden, will escalate government spending, debt, and deficits. It will also erode the value of the U.S. dollar, “making it more likely that the U.S. dollar will lose...
Latam Insights —Tether to Start Bitcoin Mining Operations in Uruguay; Lula Proposes Abandoning US Dollar
5.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Tether announces a sustainable Bitcoin mining project in Uruguay, Brazil’s President Lula proposes a shift away from the U.S. dollar, and Argentina...
Iran-Russia Trade Settlements Exceed 60% in National Currencies, Says Joint Chamber Chief
4.6.2023
Iran and Russia have increased cooperation and settled more than 60% of their bilateral trade in the Russian ruble and the Iranian rial, according to the chairman of Iran-Russia Joint Chamber of Commerce. The two countries have ramped up their de-dollarization efforts with Iranian President Ebrahim...
Cuban President: Ditching US Dollar Frees Countries From Sanctions and Aggression
3.6.2023
Cuba’s president, Miguel Diaz-Canel, says the U.S. dollar’s global reserve currency status enables the United States to pursue an “aggressive hegemonistic policy of building walls, imposing punitive sanctions, blackmail, aggression, and slander.” He added that the BRICS economic bloc...
Russian Businesses Ask Putin to Help Legalize Crypto
1.6.2023
A body representing the interests of Russian businesses has called on president Putin to help with crypto legalization. Their proposals, including on the use of cryptocurrencies in foreign trade settlements, have been included in a report to Russia’s head of state. Companies Urge President Putin...
Billionaire Investor Bill Ackman Insists JPMorgan Boss Jamie Dimon Should Run in the 2024 US Presidential Race
1.6.2023
Billionaire investor and Pershing Square Capital Management CEO, Bill Ackman, has asserted that JPMorgan Chase’s chief executive, Jamie Dimon, should enter the 2024 United States presidential race. Ackman claims that the current president Joe Biden is “extremely weak and in cognitive...
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...
Welcome, Crypto, to the Fiery Cauldron of U.S. Presidential Politics
31.5.2023
Whether the crypto industry wants the spotlight or not, digital assets are among the earliest talking points in the 2024 U.S. presidential election, with the most prominent of the new candidates even invoking bitcoins in his campaign opener as evidence of President Joe Biden’s missteps