TL;DR Breakdown BRICS countries, including China, Brazil, India, and the UAE, have collectively sold off $18.9 billion in U.S. Treasury bonds within one month. The BRICS nations are increasingly looking to diversify their portfolios, possibly as a hedge against U.S. economic policies. Description Recent data from the U.S. Treasury Department reveals a significant move by members of the BRICS economic alliance—Brazil, Russia, India, China, and South Africa. China, the world’s second-largest holder of U.S. treasuries, has notably reduced its holdings from $835.4 billion in June to $821.8 billion in July. This marks a decline of $13.6 billion in … Read more Recent data from the U.S. Treasury Department reveals a significant move by members of the BRICS economic alliance—Brazil, Russia, India, China, and South Africa. China, the world’s second-largest holder of U.S. treasuries, has notably reduced its holdings from $835.4 billion in June to $821.8 billion in July. This marks a decline of $13.6 billion in just one month. Additionally, over the past year, China has offloaded about $117.4 billion worth of U.S. government debt. Other BRICS members follow suit…

TL;DR Breakdown Sam Bankman Fried (SBF) remains one of the worst crypto villains in the crypto industry, and as time goes by, evidence shows that his family played a vital role in the collapse of FTX. At the start of his career, SBF relied on his family to run FTX. His father, Joseph, played a role in various FTX fields, while his mother, Barbra, prided herself as her son’s partner in crime and seemed to have a hand in the company affairs. Reports have it that SBF’s family has constantly tried to jeopardize the case by paying off key witnesses. Description The Sam Bankman Fried (SBF) trial is now a family affair as the accused parents are now suspected of also being involved with their son’s activities of defrauding the multi-billion crypto exchange. SBF’s parents, Joseph Bankman and Barbara Fried have offered their son unwavering support as he faces multiple counts of money laundering and fraud … Read more The Sam Bankman Fried (SBF) trial is now a family affair as the accused parents are now suspected of also being…

TL;DR Breakdown Since the onset of Bitcoin, critics have tied BTC mining to environmental harzadness, But how true is this assumption?  A recent study by the Institute of Risk Management titled “Bitcoin and the Energy Transition: From Risk to Opportunity” states that BTC could potentially speed up global energy transition. The paper illustrates that BTC has the potential to accomplish its environmental, Social, and Governance(ESG) roles by using wasted energy resources such as Methane gas, aiding power grid stability, and promoting renewable sources of energy.  Description Since the inception of Bitcoin to the financial landscape and its underlying Blockchain technology, there has been a lot of controversy surrounding the industry. Voices from environmental activists raising their concerns over the effects of the new assets on the environment have often controlled the narrative around the subject. However, a recent study by the … Read more Since the inception of Bitcoin to the financial landscape and its underlying Blockchain technology, there has been a lot of controversy surrounding the industry. Voices from environmental activists raising their concerns over the effects of the…

TL;DR Breakdown Peter Marton, the deputy superintendent of virtual currency at the New York State Department of Financial Services (NYDFS), is leaving his position, creating a vacancy in a key regulatory role. Marton had been instrumental in transforming the Virtual Currency Unit at NYDFS, which has been active in crypto regulation through its BitLicense program since 2015. The departure comes when NYDFS proposes new guidelines for crypto firms, including standards for risk assessment and coin listing, adding another layer of uncertainty to the regulatory landscape. Description Peter Marton, the Deputy Superintendent of Virtual Currency at the New York State Department of Financial Services (NYDFS), has announced his departure. Marton, who took on the role in December 2021, is set to leave the regulatory body, sparking questions about the future direction of cryptocurrency regulation in New York. Marton’s exit comes after a … Read more Peter Marton, the Deputy Superintendent of Virtual Currency at the New York State Department of Financial Services (NYDFS), has announced his departure. Marton, who took on the role in December 2021, is set to leave the…

TL;DR Breakdown The European Union (EU) is trying to reduce its dependency on China, particularly in strategic sectors, without intending to sever its overall relationship. The EU-China “High-Level Economic and Trade Dialogue” is ongoing, covering macroeconomics, trade issues, supply chains, and financial services. The EU is addressing various barriers to market access that contribute to its trade deficit with China. Description Tensions between the European Union (EU) and China have risen recently, partly due to China’s alignment with Russia following the conflict in Ukraine and the EU’s efforts to diversify its economic partnerships. The EU has hence been working to reduce its dependency on China in various sectors while expressing concerns about human rights issues and … Read more Tensions between the European Union (EU) and China have risen recently, partly due to China’s alignment with Russia following the conflict in Ukraine and the EU’s efforts to diversify its economic partnerships. The EU has hence been working to reduce its dependency on China in various sectors while expressing concerns about human rights issues and market access barriers in China. Valdis…

TL;DR Breakdown Mexico’s economy is displaying positive growth for the fourth consecutive month, with key contributions from the construction and manufacturing sectors. In terms of currency, the Mexican peso has experienced a surge against the US dollar, outperforming many other currencies in the Latin American region. Mexico and Canada have also surpassed China as the largest import destinations for the United States in the first half of the year. Description The latest economic indicators for Mexico provide a positive outlook for the country’s financial health. The annual inflation rate has declined, reaching 4.44%, the lowest since March 2021. That marks the ninth consecutive fortnight of decreasing inflation. Additionally, the country’s economic activity showed growth for the fourth consecutive month. In July, economic activity increased by … Read more The latest economic indicators for Mexico provide a positive outlook for the country’s financial health. The annual inflation rate has declined, reaching 4.44%, the lowest since March 2021. That marks the ninth consecutive fortnight of decreasing inflation. Additionally, the country’s economic activity showed growth for the fourth consecutive month. In July, economic…

TL;DR Breakdown FTX users face an urgent September 29 deadline to file claims against the crypto exchange, with trader Peter Brandt leading the awareness campaign. As bankrupt crypto exchange battles financial challenges, Coinbase seeks European growth but faces roadblocks in its acquisition plans for FTX Europe. Description The cryptocurrency market is no stranger to volatility, not only in terms of prices but also in its businesses. In recent events, FTX, a renowned crypto exchange, finds itself entangled in a complicated bankruptcy case, prompting users to act swiftly before a crucial deadline. This article delves into the tumultuous situation surrounding FTX, the figures … Read more The cryptocurrency market is no stranger to volatility, not only in terms of prices but also in its businesses. In recent events, FTX, a renowned crypto exchange, finds itself entangled in a complicated bankruptcy case, prompting users to act swiftly before a crucial deadline. This article delves into the tumultuous situation surrounding FTX, the figures that stand out in the drama, and how other exchanges, like Coinbase, are navigating these uncertain waters. Contents hide 1…

TL;DR Breakdown Eclipse adopts a modular blockchain approach for its mainnet, leveraging Solana’s Virtual Machine for parallel transaction execution, leading to cost-efficient processing. The Ethereum layer-2 network will also incorporate Risc Zero for proving and Celestia for data availability, showcasing a diverse tech amalgamation for enhanced blockchain functionality. Description In an innovative move to redefine the landscape of blockchain technology, Eclipse, the Ethereum layer-2 network project, has announced its intention to harness Solana’s virtual machine for its much-anticipated mainnet launch. Expected to go live by year-end, this announcement has drawn significant attention from industry stakeholders. Contents hide 1 Embracing modular blockchain approach for enhanced … Read more In an innovative move to redefine the landscape of blockchain technology, Eclipse, the Ethereum layer-2 network project, has announced its intention to harness Solana’s virtual machine for its much-anticipated mainnet launch. Expected to go live by year-end, this announcement has drawn significant attention from industry stakeholders. Contents hide 1 Embracing modular blockchain approach for enhanced performance 2 Solana’s virtual machine: A game changer for transaction execution 3 Leveraging diverse technologies for comprehensive rollup…

TL;DR Breakdown LBRY challenges a federal judge’s decision that sided with the SEC regarding the sale of its LBC tokens, marking a significant turn in the case after facing an initial penalty of $22 million. The outcome of this legal tussle could influence the future of cryptocurrency regulations, especially with recent victories in the crypto sector against federal oversight. Description In the midst of significant changes and challenges in the cryptocurrency realm, Boston’s First Circuit Court of Appeals sets the stage for a landmark legal battle between the blockchain-based platform LBRY and the Securities and Exchange Commission (SEC). The outcome of this case could set a pivotal precedent in crypto law, especially with regard to … Read more In the midst of significant changes and challenges in the cryptocurrency realm, Boston’s First Circuit Court of Appeals sets the stage for a landmark legal battle between the blockchain-based platform LBRY and the Securities and Exchange Commission (SEC). The outcome of this case could set a pivotal precedent in crypto law, especially with regard to how tokens are viewed and regulated. Contents…

TL;DR Breakdown Coinbase has officially halted its plans to acquire FTX Europe, a move initially aimed at expanding into the European derivatives market. The decision comes amid a competitive environment, with other companies like Crypto.com also showing interest in FTX Europe, and as Coinbase faces a decline in its fee revenue. While the FTX Europe deal is off the table, Coinbase remains open to other strategic acquisitions and partnerships, even as it navigates regulatory challenges. Description Coinbase, the renowned U.S.-based cryptocurrency exchange, has recently dropped its plans to acquire FTX Europe. Initially, the company had been negotiating to purchase the bankrupt FTX’s European subsidiary, aiming to extend its derivatives business into the European arena. However, a recent report states the acquisition will no longer occur. Besides Coinbase, other key players like … Read more Coinbase, the renowned U.S.-based cryptocurrency exchange, has recently dropped its plans to acquire FTX Europe. Initially, the company had been negotiating to purchase the bankrupt FTX’s European subsidiary, aiming to extend its derivatives business into the European arena. However, a recent report states the acquisition will…