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BRICS Countries Can Use India’s UPI Instant Payment System, Prime Minister Modi Suggests

Member states of the BRICS bloc can follow the example of other nations and start using India’s Unified Payments Interface (UPI) system, according to Prime Minister Narendra Modi. The country is a leader in digital transactions, the head of the India...

BRICS Discussing Single Unit of Account, Alternative to Dollar, Russian Finance Minister Says

The BRICS members are mulling over the possible launch of a common unit of account, Russia’s Minister of Finance Anton Siluanov unveiled. This would be an alternative to the U.S. dollar that can be used to denote the cost of some commodities, for exa...

Sam Bankman-Fried Claims He Relied on Legal Advice in FTX Scandal

Lawyers for Sam Bankman-Fried claim the FTX founder, who has fallen from grace, based his business decisions on legal advice from company attorneys before the cryptocurrency exchange’s downfall. FTX Founder Bankman-Fried Claims Actions Were Bas...

S&P Downgrades 5 Regional US Banks Amid Challenging Banking Environment

On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, pointing to the strenuous operating atmosphere plaguing the sector since the year’s outset. The impacted banks include Associated Banc Corp., Comerica Inc., KeyCorp...

Brazil’s President Says BRICS Not Seeking to Counter US, G7, or G20 — Pushes for BRICS Currency

Brazil’s President Luiz Inacio Lula da Silva has stated that the BRICS economic bloc does not want to be “a counterpoint to the G7, G20, or the United States,” emphasizing that the BRICS nations “just want to organize ourselves.” The Brazilian...

Xi Jinping: BRICS to Forge Stronger Partnership, People Do Not Long for New Cold War or Small Exclusive Bloc

Chinese President Xi Jinping stated at the BRICS summit that “What people in various countries long for is definitely not a new Cold War or a small exclusive bloc.” He stressed that the BRICS group will expand and promote global multipolarity. “Hegem...

Russian President Putin to BRICS Leaders: Irreversible Process of De-Dollarization Gaining Steam

Russian President Vladimir Putin said at the BRICS summit that “A balanced, irreversible process of de-dollarization of our economic ties is gaining steam.” The Russian leader stressed: “We oppose hegemonies of any kind and the exceptional status tha...

FBI Warns of North Korean Hackers’ Intent to ‘Cash Out’ $40M in Bitcoin

On August 22, 2023, the FBI issued an alert, cautioning about North Korean hackers possibly trying to cash out bitcoin valued at over $40 million. U.S. Intelligence Flags Potential $40M Bitcoin Liquidation by North Korean Hackers The FBI is urging bo...

Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says

The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies, those...

Bitcoin Miners Navigate Record Challenges and August’s Dual Difficulty Hike

Bitcoin miners faced another uphill battle this month, marking the second straight increase in mining difficulty. On August 22, at block height 804,384, the difficulty surged by 6.17%. This fresh peak in Bitcoin’s difficulty sets a new record,...

Biggest Movers: BNB Rebounds From 1-Year Low, SHIB Surges Higher

BNB was one of Wednesday’s biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shib...

Analyzing LBank IEO Historical Data and H1 2023 IEO Performance to Predict Upcoming LBank IEO

PRESS RELEASE. Examining the historical data of past Initial Exchange Offerings (IEOs) could offer valuable insights into the anticipated outcomes, particularly pertinent in the lead-up to the imminent LBank IEO. This practice has gained prominence a...

An Adderall Shortage and No Vegan Meals — Former FTX Boss Struggles With Jail Life

After Sam Bankman-Fried, once the head of FTX, petitioned the court for a five-day-a-week release from incarceration, the overseeing judge swiftly denied the plea. On Tuesday, Bankman-Fried pleaded not guilty in response to the most recent charges. M...

Bitcoin, Ethereum Technical Analysis: BTC, ETH Drop to 5-Day Lows, as Traders Await Fed’s Jackson Hole Symposium

Bitcoin continued to sit firmly below the $26,000 level on Wednesday, after breaking out of a key price floor. The world’s largest cryptocurrency by market cap has mostly consolidated in recent days, as traders await Federal Reserve Chair Jero...

AI-Powered Solutions Can Help Crypto Traders Overcome ‘Cognitive Biases’ When Investing — Libertify CEO

According to Steve Rosenblum, the founder and CEO of Libertify, Artificial Intelligence (AI) driven investment solutions can assist investors in making “timely adjustments to asset allocation.” This means investors using such a...

Thailand Threatens Facebook With Shutdown Over Crypto Scams

The government in Bangkok will try to shut down Facebook in Thailand alleging the social media network isn’t doing enough to stop scams. Fraudsters have been luring users to invest in fake companies and cryptocurrencies, authorities said, and the num...

Nigerian Crypto Trading Platform Unilaterally Converts User Funds to New Stablecoin — Move Sparks Exit Scam Fears

A Nigerian crypto trading platform, Patricia, announced on Aug. 18 that it had converted users’ outstanding funds to its U.S.-backed stablecoin known as “Patricia Token.” Some social media users have slammed the crypto tr...

BRICS Bank to Issue First Indian Rupee Bond — Plans to Boost Local Currency Lending

The New Development Bank (NDB), also known as the BRICS Bank, is reportedly planning to issue its first Indian rupee bond by October. Last week, the bank issued its first South African rand bond. “NDB is seeking to increase its presence in the...

Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist

An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted,...

Economist Peter Schiff Says Fed Policies Significantly Harm Economy — Warns of More Inflation

Economist Peter Schiff has warned that the Federal Reserve has gotten its policies wrong for 20 years, which has “significantly harmed the economy and made dire consequences inevitable.” Emphasizing that the Fed cannot win its fight again...

US Lawmaker Slams SEC’s ‘Reckless’ Rulemaking — Warns of ‘Lasting Economic Harm’

A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, for “pursuing a reckless, rushed rulemaking agenda with inadequate economic analysis and limited public input.” He warned t...

US Court Hands 3-Year Jail Sentence to Man Accused of Conspiring to Defraud Crypto Holders

A U.S. court has sentenced a man accused of conspiring to defraud cryptocurrency owners to three years in prison. The court also ordered the man to pay $2,816,433 in restitution to 11 victims of his Subscriber Identity Module (SIM) swap fraud scheme....

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