Blockchain Creating Digital Infrastructure That Fortifies US Dollar Supremacy, According to Pantera Capital

January 15, 2025 The Daily Hodl

Blockchain

Blockchain technology is fortifying the strength of the US dollar rather than weakening it, according to the digital asset investment firm Pantera Capital. In a new analysis, Jeff Lewis, Pantera’s hedge funds product manager, and Erik Lowe, the firm’s head of content, write that blockchain tech will reverse a decades-long trend of international de-dollarization. “Far […]

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JPMorgan Chase Says US Dollar Strength May Continue To Defy Gravity This Year – Here’s Why

January 11, 2025 The Daily Hodl

bank

JPMorgan Chase says the dollar’s strength may persist this year as the firm expects the US economy to outperform other developed markets. In a new report, JPMorgan says the US dollar has defied gravity in 2024 and could continue doing so amid increasing disparities in global growth. The bank’s analysts say a strong US economy […]

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Ripple USD stablecoin set for trading debut tomorrow

December 16, 2024 Coin Telegraph

Coin Telegraph

Ripple’s RLUSD stablecoin is set for its trading debut on Dec. 17 on platforms including Uphold, MoonPay, Archax and CoinMENA, the company said.

Ripple, the blockchain company behind XRP, confirmed that its Ripple USD (RLUSD) stablecoin will begin trading globally tomorrow, Dec. 17.

RLUSD, a new United States dollar-backed stablecoin developed by Ripple, is set for a global exchange debut, the firm announced to Cointelegraph on Monday, Dec. 16.

The announcement came after the New York Department of Financial Services (NYDFS) approved the RLUSD launch, on Dec. 10, greenlighting the stablecoin’s entrance into global financial and cryptocurrency markets.

Ramaswamy exits DOGE for Ohio governor bid, leaving Musk as sole head

Phantom Money: Counterfeit Dollar Bills Haunt Istanbul Bazaar

November 29, 2024 Bitcoin.com

bitcoin.com

Fears of counterfeit $50 and $100 bills have disrupted foreign-exchange trade at Istanbul’s Grand Bazaar, with some bureaus halting the purchase of these bills due to issues with identifying fake notes. There are conflicting views on the extent of the problem, with some traders blaming banks for clogging the system by not accepting old dollar […]

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Ruble Plunges to New 2024 Low After US Imposes Sanctions Targeting Russian Banks

November 28, 2024 Bitcoin.com

bitcoin.com

The Russian ruble weakened after the U.S. imposed new sanctions on Russian banks. Europe Reduces Reliance on Russian Gas The Russian ruble fell to its lowest level since March 2022 after the U.S. imposed sanctions on 50 Russian banks, further disrupting the inflow of foreign currency into the country. On Nov. 27, the ruble-dollar exchange […]

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Zimbabwe Plans to ‘Float’ Rapidly Depreciating Gold-Backed Currency

November 11, 2024 Bitcoin.com

bitcoin.com

Zimbabwe has said it plans to let its rapidly depreciating gold-backed currency, Zig, float freely on the foreign exchange market. A central bank official said this would help the currency achieve price discovery without administrative interference. However, the official did not give a timeline for when the central bank intends to implement this policy. Since […]

Ramaswamy exits DOGE for Ohio governor bid, leaving Musk as sole head

World Bank: Nigeria Loses $8B on Foreign Exchange Subsidies Over 3 Years

October 25, 2024 Bitcoin.com

World Bank: Nigeria Loses B on Foreign Exchange Subsidies Over 3 Years

Africa

The World Bank reports that Nigeria lost over $8 billion due to the Central Bank of Nigeria’s (CBN) refusal to float the naira between 2021 and 2023. This foreign exchange subsidy, along with the fuel subsidy, deprived the government of revenue. The World Bank acknowledges the suffering caused by the government’s policies but insists they […]

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Stablecoins can benefit financial system, Fed governor says

October 18, 2024 Coin Telegraph

Coin Telegraph

The United States national debt has crossed $35 trillion, with $500 billion added to the government debt in the last two weeks alone.

On Oct. 18, Federal Reserve Bank Governor Christopher Waller told an audience at the Institute of Advanced Studies that well-regulated stablecoins could benefit the current financial system.

“Stablecoins can reduce the need for payment intermediaries and thereby reduce costs of payments globally,” Waller stated, but immediately qualified his remarks by saying that stablecoin “Safety is not assured.” The Fed official explained:

Waller also noted that decentralized finance can achieve a symbiotic relationship with traditional finance instead of supplanting it altogether. This viewpoint was previously pitched by some US lawmakers, who argue that decentralized finance and dollar-denominated stablecoins can extend dollar dominance by decades.

Ramaswamy exits DOGE for Ohio governor bid, leaving Musk as sole head

Nigerian Currency ‘Most Competitive in 20 Years,’ Says World Bank

October 18, 2024 Bitcoin.com

Africa

Nigeria’s currency reforms under Bola Tinubu’s government have made the naira one of the most competitive in 20 years, according to World Bank chief economist Indermit Gill. The decision to float the naira and remove fuel subsidies helped prevent fiscal collapse. While the naira’s devaluation has exacerbated poverty and raised concerns about civil unrest but […]

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Stripe in talks to acquire stablecoin platform Bridge — report

October 18, 2024 Coin Telegraph

Bridge

Stablecoins pegged to the United States dollar have outpaced Bitcoin as a store of value in developing countries with runaway inflation.

Stripe, a payments processing company, is reportedly in talks to acquire stablecoin platform Bridge, according to unnamed sources familiar with the deal.

According to Bloomberg, the deal has not yet been finalized, and either party could still walk away without inking an agreement.

The potential acquisition by Stripe comes amid the payment company's planned re-entry into the digital asset sector after a six-year break from providing crypto payment services.

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