TL;DR Breakdown The Chinese yuan is nearing a 15-year low, which may impact the BRICS alliance and its developing currency. The upcoming BRICS summit will focus on the implications of the yuan’s fall, especially on the potential BRICS native alternative currency. The Chinese Central Bank promises to stabilize the yuan and increase support for the broader economy. Description As an unforgiving tide seems to sweep across China’s economic landscape, its currency, the yuan, teeters precariously on the brink of a 15-year trough. This plummeting trajectory of the yuan doesn’t only affect China, but it sends reverberations through the BRICS alliance, leaving the members bracing for the impending consequences. The undeniable impact on BRICS … Read more As an unforgiving tide seems to sweep across China’s economic landscape, its currency, the yuan, teeters precariously on the brink of a 15-year trough. This plummeting trajectory of the yuan doesn’t only affect China, but it sends reverberations through the BRICS alliance, leaving the members bracing for the impending consequences. The undeniable impact on BRICS The BRICS conglomerate, comprising of Brazil, Russia, India, China,…

TL;DR Breakdown Argentina’s central bank has officially included the Chinese yuan as a recognized currency for banking deposits, a major shift in its banking policy. This move aligns with Argentina’s struggle against a dwindling supply of U.S. dollars and coincides with China’s efforts to internationalize its currency. Argentina’s National Securities Commission will allow dealing in yuan-denominated securities. Description In an unanticipated monetary maneuver, Argentina is making a bold financial bet. This South American nation is courting the Chinese yuan, in a move that could radically reshape its banking landscape. A flip, it seems, is in the works, a flip from the well-established U.S. dollars to the emergent yuan. Yuan’s entry into Argentina’s banking … Read more In an unanticipated monetary maneuver, Argentina is making a bold financial bet. This South American nation is courting the Chinese yuan, in a move that could radically reshape its banking landscape. A flip, it seems, is in the works, a flip from the well-established U.S. dollars to the emergent yuan. Yuan’s entry into Argentina’s banking The Central Bank of Argentina, in a surprising move,…

TL;DR Breakdown The potential launch of a new currency by BRICS (Brazil, Russia, India, China, South Africa) could destabilize the U.S. dollar’s dominance and threaten several U.S. financial sectors. This seismic shift could cause a domino effect across various U.S. industries including banking, finance, commodities, and international trade. The U.S. economy might suffer further if the BRICS currency becomes the standard for settling oil and gas trades. Description In the looming shadows of a global economic shift, the United States faces the specter of the BRICS nations’ prospective currency launch. This seismic change threatens to disrupt America’s position of influence, affecting several crucial financial sectors and endangering the supremacy of the U.S. dollar. The impact of this geopolitical shift promises to be both … Read more In the looming shadows of a global economic shift, the United States faces the specter of the BRICS nations’ prospective currency launch. This seismic change threatens to disrupt America’s position of influence, affecting several crucial financial sectors and endangering the supremacy of the U.S. dollar. The impact of this geopolitical shift promises to be…

TL;DR Breakdown Venture Capital (VC) funding in the crypto industry has dropped to a two-year low, with June 2023 recording only 83 public investments. The total funding for June was $520 million, a decline of 32% from the previous month and a massive 71% drop from the previous year. Despite the overall slump, several firms managed to secure substantial investments, led by Gensyn with a $43 million Series A round. Description The world of Venture Capital (VC) funding seems to be losing some steam, as recent data reveals a distinct slowdown. As per data from RootData, public investment from crypto VCs has slipped to an alarming two-year low, with June recording only 83 deals. The shift, a stark contrast from the 97 and 149 projects in … Read more The world of Venture Capital (VC) funding seems to be losing some steam, as recent data reveals a distinct slowdown. As per data from RootData, public investment from crypto VCs has slipped to an alarming two-year low, with June recording only 83 deals. The shift, a stark contrast from the 97…

TL;DR Breakdown 40% of South Africans are aware of Web3, highlighting a digital shift amid rising data privacy concerns. Most South Africans identify financial trading as the key skill for Web3 and cryptocurrency participation. 80% of South Africans believe we possess the technology to transform or rebuild the financial system, seeing cryptocurrency as a potential catalyst. Description The dawn of a digital revolution is upon us as an impressive 40% of South Africans are now well-acquainted with the concept of Web3. What once seemed like a futuristic idea is gradually morphing into our present reality, fundamentally transforming how we interact online. Web3 awareness soars in South Africa amid data privacy concerns In … Read more The dawn of a digital revolution is upon us as an impressive 40% of South Africans are now well-acquainted with the concept of Web3. What once seemed like a futuristic idea is gradually morphing into our present reality, fundamentally transforming how we interact online. Web3 awareness soars in South Africa amid data privacy concerns In a world where data privacy is a growing concern, South…

TL;DR Breakdown Ethereum co-founder Vitalik Buterin only stakes a small part of his ETH holdings due to complexities of multisignature wallets. Charles Hoskinson, Ethereum co-founder and Cardano founder, contrasts this by staking all his Cardano. Buterin discusses the EigenLayer protocol that lets Ethereum validators restake their assets, but warns of centralization risks. Description Vitalik Buterin, the enigmatic co-founder of Ethereum, recently divulged an intriguing aspect of his cryptocurrency management approach. While staking, a strategy utilized by many crypto investors to earn passive income, is popular in the Ethereum community, Buterin surprisingly revealed that he stakes only a minuscule portion of his Ethereum holdings. This development incited curiosity and … Read more Vitalik Buterin, the enigmatic co-founder of Ethereum, recently divulged an intriguing aspect of his cryptocurrency management approach. While staking, a strategy utilized by many crypto investors to earn passive income, is popular in the Ethereum community, Buterin surprisingly revealed that he stakes only a minuscule portion of his Ethereum holdings. This development incited curiosity and bewilderment, inviting us to delve into the motivations and implications behind Buterin’s unconventional choice….

TL;DR Breakdown Twitter has announced a new limit update on the platform as Elon Musk continues to fight market manipulation charges. Analysts speculate that users might move to rival platforms. Description Twitter, the popular social media platform, has recently introduced limitations on user activity, sparking concerns and drawing attention to the platform’s technical challenges and potential motives behind the changes. CEO Elon Musk announced the new restrictions, including a cap on the number of posts that verified and unverified accounts can read daily. As users face … Read more Twitter, the popular social media platform, has recently introduced limitations on user activity, sparking concerns and drawing attention to the platform’s technical challenges and potential motives behind the changes. CEO Elon Musk announced the new restrictions, including a cap on the number of posts that verified and unverified accounts can read daily. As users face broken home feeds and comment threads, questions arise regarding the platform’s architecture and its impact on user experience. Furthermore, speculation surrounds the motivations behind these changes, including their potential impact on AI providers and Twitter’s strained…

TL;DR Breakdown AI is increasingly used to clone voices of voice actors, sometimes without their knowledge or consent. Legal loopholes and outdated contracts allow companies to exploit voice actors’ work. The rise in AI-generated content threatens the livelihoods of voice actors. Description In an era of unprecedented technological advancements, artificial intelligence (AI) has emerged as a game-changer in numerous fields. However, not all are reveling in its benefits. Actors, particularly voice artists, are feeling the heat as AI is increasingly infringing upon their turf, even robbing them of their unique vocal signature. Greg Marston, a seasoned British … Read more In an era of unprecedented technological advancements, artificial intelligence (AI) has emerged as a game-changer in numerous fields. However, not all are reveling in its benefits. Actors, particularly voice artists, are feeling the heat as AI is increasingly infringing upon their turf, even robbing them of their unique vocal signature. Greg Marston, a seasoned British voice actor, fell prey to this disturbing trend. One day, he discovered his voice being used without his knowledge or consent, on a platform called…

TL;DR Breakdown Goldman Sachs is reportedly considering ending its partnership with Apple, including the virtual credit card collaboration. The bank is in talks with American Express to potentially take over Apple’s credit card and other joint ventures. This strategic shift aligns with Apple’s aim to reduce reliance on external partners for financial services and Goldman Sachs’ efforts to adapt to changing market conditions. Description Goldman Sachs Group Inc,  a leading investment banking and financial services company, is contemplating an exit from its partnership with Apple Inc (AAPL.O), according to reports by Wall Street Journal. The collaboration between the two giants began in 2019 with the launch of a virtual credit card. According to the report, Goldman Sachs is currently … Read more Goldman Sachs Group Inc,  a leading investment banking and financial services company, is contemplating an exit from its partnership with Apple Inc (AAPL.O), according to reports by Wall Street Journal. The collaboration between the two giants began in 2019 with the launch of a virtual credit card. According to the report, Goldman Sachs is currently discussing with American…

TL;DR Breakdown The CIA Director calls for the United States to reduce dependence on China by diversifying its supply chains, not fully decoupling. Near-miss military incidents have escalated tensions between the U.S. and China. The U.S. and China’s economic rivalry and differing political views intensify conflicts, especially regarding Taiwan’s status and South China Sea territories. Description The symbiotic relationship between the United States and China has always been a towering edifice of economic interdependence. However, as tremors of discord continue to shake this global monolith, the Central Intelligence Agency (CIA) sounds the alarm. Their message? The U.S. needs to develop an exit strategy— and fast. A call for supply chain diversification … Read more The symbiotic relationship between the United States and China has always been a towering edifice of economic interdependence. However, as tremors of discord continue to shake this global monolith, the Central Intelligence Agency (CIA) sounds the alarm. Their message? The U.S. needs to develop an exit strategy— and fast. A call for supply chain diversification between U.S. and China While speaking at a lecture in Oxfordshire,…