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China’s Credit Agency Downgrades US Credit Rating Over Debt-Ceiling Standoff and Looming Default

May 27, 2023 0

China’s oldest credit rating agency, Chengxin International Credit Rating (CCXI), made headlines this week by downgrading the United States’ credit rating. The agency lowered the rating from AAAg to AAg+ and attributed this decision to the escalating political discord, rising inflation, and the

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Economist Peter Schiff Surprises Critics, Dives Into Bitcoin-Backed NFT Market

May 27, 2023 0

Economist and ardent gold advocate Peter Schiff caused a stir on Friday by announcing his participation in an upcoming art sale featuring non-fungible tokens (NFTs). These unique digital collectibles will be minted on the Bitcoin blockchain using Ordinal inscription technology. Schiff’s surprising entry into the NFT market through Bitcoin has piqued the curiosity of

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Biggest Movers: XRP Hits 1-Month High, After Moving Past Key Price Level

May 27, 2023 0

One of Saturday’s biggest movers is XRP, which rose to a 30-day high earlier in today’s session. The token rose for a third consecutive day, as bulls returned to the market to start the weekend. Cardano was another notable gainer today. XRP XRP (formerly ripple), moved to a one-month high on Saturday, as bulls began […]

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Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000 as Market Reacts to Latest US Personal Consumption Data

May 27, 2023 0

Bitcoin moved closer to the $27,000 level on Saturday, as markets continued to react to the latest Personal Consumption data from the United States. The key inflation index rose to 4.4% in April, higher than expectations of a drop to 3.9%. Ethereum also edged higher. Bitcoin Bitcoin (BTC) rallied towards $27,000 to start the weekend, […]

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Argentina to Expand De-Dollarization Efforts; Seeks Extension of Yuan Based Swap Line With China

May 27, 2023 0

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 $5 to $10 billion, lent in Chinese […]

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EAEU Official Urges BRICS and SCO for Joint Use of Digital Currencies, New Payment Card

May 27, 2023 0

Three integration unions with Russian participation, BRICS, SCO, and the EAEU, should adopt joint policies on the use of digital currencies, according to a top representative of one of them. He also believes the international organizations should develop a new payment system with its own bank cards. BRICS, SCO, and EAEU May Launch Common Payment […]

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Blur Dominates NFT Lending Market With 82% of All Loan Settlements Across the Sector, Dappradar Study Reveals

May 27, 2023 0

A recent study by Dappradar discloses the May loan volumes for non-fungible tokens (NFTs) reached a high of $375 million. The findings emphasize the significant influence of Blur within the NFT lending market, as the NFT marketplace platform constitutes 82% of the entire value settled in the NFT lending sector. Blur Emerges as NFT Lending […]

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Xi Jinping and Putin Discuss BRICS Cooperation With Brazil’s President

May 27, 2023 0

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 the U.S. dollar in favor of national currencies and a proposed […]

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Brazil Sees BRICS Bank as Alternative Financial Institution, President Lula Says

May 27, 2023 0

The government of Brazil views the development bank established by the BRICS bloc as an alternative to traditional financial institutions, the country’s head of state told African diplomats. President Lula da Silva also vowed that the bank will improve cooperation with its African counterpart. Brazil Wants the New Development Bank Under BRICS to Strengthen as […]

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Moody’s on De-Dollarization: Rating Agency Labels US Debt Default a ‘Near-Term Danger to the Dollar’s Position’

May 26, 2023 0

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 a confidence-sapping policy mistake such as the […]