China and Russia Push for Increased Local Currency Use in Trade, Deepen BRICS Cooperation

August 24, 2024 Bitcoin.com

China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed to local currency use, payment infrastructure, and mutual investments, while also advancing collaboration in artificial intelligence, sustainable development, and global governance. China and Russia Strengthen […]

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Japan Dumps $22,000,000,000 in US Treasuries in One Month As Government Mounts Billion-Dollar Battle To Prop Up Currency

August 3, 2024 The Daily Hodl

Currency

Japan is offloading billions of dollars in US Treasuries as it fights to prop up its currency. New numbers from the US Treasury Department show Japan sold $22 billion in Treasury securities in May, reducing its holdings to $1.1283 trillion. The move marks the second month in a row that Japan has reduced its massive […]

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Iran Backs Russia on BRICS Single Currency Initiative

August 3, 2024 Bitcoin.com

bitcoin.com

Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate […]

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US Senator Highlights Bitcoin as Currency Unaffected by Widespread Cyber Outages

July 20, 2024 Bitcoin.com

Bitcoin

U.S. Senator Cynthia Lummis has emphasized bitcoin’s resilience as a form of currency unaffected by widespread cyber outages. Her remarks followed major system failures linked to Crowdstrike, which impacted multiple sectors and have been described by some as “the largest IT outage in history.” Bitcoin’s Stability Highlighted During Major System Outage U.S. Senator Cynthia Lummis […]

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1930s-Style Debasement To Crush Savers and Pump Bitcoin and Stock Market, According to Arthur Hayes

July 3, 2024 The Daily Hodl

Arthur Hayes

BitMEX co-founder Arthur Hayes thinks upcoming fiat currency debasement will drive up the prices of Bitcoin (BTC) and stocks. In a new analysis, the crypto veteran says he’s confident the economy is in a new inflationary cycle and BTC will “regain its mojo.” Hayes cites projections from the Congressional Budget Office (CBO), which estimated that […]

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New Global Currency Designed To Ditch US Dollar, Avert Sanctions Emerging As BRICS Leaders Prepare To Meet: Report

May 5, 2024 The Daily Hodl

Brazil

A group of economically-aligned nations known as BRICS is reportedly hammering out the details on a new currency designed to drop dependence on the US dollar. South African Ambassador to China Siyabonga Cyprian Cwele says BRICS members will meet this month to discuss the specifics, reports the Chinese state-backed Global Times. On the agenda is […]

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Japan’s Yen Flash Crashes To 160 Per Dollar As Global Currency Exhibits Extreme Volatility

April 29, 2024 The Daily Hodl

Currency

The Japanese yen just tapped its worst level against the US dollar in more than three decades, reportedly triggering emergency intervention from the country’s financial authorities. After touching 160.17 per USD, Japan moved to stop the slide and prop up the world’s third most-traded currency, reports the Wall Street Journal. “The U.S. dollar weakens 1% […]

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Nigerian Instagram Celebrity Could Face Jail Time for ‘Spraying’ National Currency

April 19, 2024 Bitcoin.com

Africa

Nigerian Instagram celebrity, Pascal Okechukwu, has pleaded not guilty to three counts of abusing naira banknotes. The charges against Okechukwu relate to three incidents in which he allegedly tampered with or “sprayed” NGN500 banknotes. Another Nigerian celebrity, Oluwadarasimi Omoseyin, received a six-month prison sentence for the same offence. Nigerian Authorities Clamp Down on Naira ‘Spraying’ […]

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Nigerian Government Demands Nearly $10,000,000,000 From Binance for Alleged Foreign Exchange Rate Manipulation: Report

March 2, 2024 The Daily Hodl

Nigerian Government Demands Nearly ,000,000,000 From Binance for Alleged Foreign Exchange Rate Manipulation: Report

BBC

The government of Nigeria is demanding billions of dollars from Binance, alleging that the crypto exchange manipulated the exchange rate of its fiat currency. According to a new report by the BBC, the Nigerian government is slapping Binance with a $10 billion fine, claiming that the top global crypto exchange by volume manipulated foreign exchange […]

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BRICS Currency ‘Almost Ready’, Will Be Much More Attractive Than US Dollar, Pound and Euro, Says Ex-Russian Minister

November 4, 2023 The Daily Hodl

brics

A former Russian minister says a BRICS currency with unique attributes is nearly ready to launch. In an interview with TV BRICS, Sergey Glazyev says that the currency itself is almost complete, but it still needs support from all leaders of the economic alliance. According to Glazyev, some member nations have already thrown their weight […]

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Currency

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