Best Twitter threads of the day – May 24th

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• De-dollarization will be a priority talk at BRICS meeting

  TL;DR Breakdown The upcoming BRICS summit in Johannesburg, South Africa, will discuss de-dollarization, a move away from the U.S. dollar in global trade. The Brazilian President, Luiz Inacio Lula da Silva, supports the use of national currencies and a potential BRICS common currency, like the euro. The BRICS bank is seen as an alternative financial institution, reducing dependency on Western-based financial mechanisms. Description As the world watches the shifting landscape of international finance, a crucial conversation is looming on the horizon. At the forefront of this dialogue is the forthcoming BRICS summit scheduled to take place in Johannesburg, South Africa, from August 22-24. This coalition, composed of Brazil, Russia, India, China, and South Africa, is predicted to place … Read more As the world watches the shifting landscape of international finance, a crucial conversation is looming on the horizon. At the forefront of this dialogue is the forthcoming BRICS summit scheduled to take place in Johannesburg, South Africa, from August 22-24. This coalition, composed of Brazil, Russia, India, China, and South Africa, is predicted to place de-dollarization high on its…

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• US set to block China’s access to powerful cloud computing services

  TL;DR Breakdown US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The move aims to address concerns that Chinese companies may have been evading existing chip export sanctions through cloud services, effectively circumventing restrictions. Sources close to the matter have suggested that the Commerce Department is expected to announce these new measures in the coming weeks. Description According to a recent report in The Wall Street Journal, US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The proposal put forth by the Biden Administration suggests implementing controls on the level of access granted to Chinese companies for U.S.-based … Read more According to a recent report in The Wall Street Journal, US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The proposal put forth by the Biden Administration suggests implementing controls on the level of access granted to…

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• Singapore’s central bank imposes 9-year ban on Three Arrows founders

  TL;DR Breakdown Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of 3AC. The prohibition orders prohibit Davies and Su from engaging in regulated activities in Singapore.  The enforcement action against Su and Davies comes amidst a broader global effort to regulate the cryptocurrency and digital asset space. Description Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which … Read more Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which took effect on September 13, prohibit…

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• What UK inflation data reveals about the economy’s future

  TL;DR Breakdown UK inflation rate fell to 7.9% in June, indicating a possible turning point in the ongoing cost of living crisis. Producer input prices dropped by 2.7% year-on-year in June, majorly due to a fall in oil prices, which might lead to lower consumer prices. The core Consumer Price Index (CPI) rate, excluding food and energy, also decreased, signaling a potentially positive shift in the economy. Description As the dust settles on the latest financial statistics, it’s clear that the UK’s economic future may be starting to find firmer ground, as evidenced by a discernible shift in inflation rates. The annual inflation rate plummeted to 7.9% in June, a breath of fresh air amid the ongoing cost of living crisis, and a … Read more As the dust settles on the latest financial statistics, it’s clear that the UK’s economic future may be starting to find firmer ground, as evidenced by a discernible shift in inflation rates. The annual inflation rate plummeted to 7.9% in June, a breath of fresh air amid the ongoing cost of living crisis, and…

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• Ethereum core developers deliberate raising validator balance limit to boost network efficiency

  TL;DR Breakdown Ethereum’s core developers are considering increasing the validator balance limit from 32 ETH to 2,048 ETH. The current limit has led to a significant increase in the number of validators, with over 600,000 online and 90,000 waiting to be activated. Proponents argue that raising the limit would improve network efficiency and enable auto-compounding of validator rewards. Description To enhance efficiency and address operational challenges faced by larger node operators, Ethereum’s core developers are engaged in a heated debate over increasing the validator balance limit. Currently, validators are restricted to holding a maximum of 32 ETH, but proponents argue that raising the threshold to 2,048 ETH would offer numerous advantages for the network. … Read more To enhance efficiency and address operational challenges faced by larger node operators, Ethereum’s core developers are engaged in a heated debate over increasing the validator balance limit. Currently, validators are restricted to holding a maximum of 32 ETH, but proponents argue that raising the threshold to 2,048 ETH would offer numerous advantages for the network. The existing limit was initially implemented to promote…

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