TL;DR Breakdown Recent reports indicate a focused BRICS shift from economic to geopolitical agenda. Market analysts point to internal disagreements between India and China, India’s relationship with the West, and vision ambiguity as a problem for the Bloc. Iran, Saudi Arabia, Egypt, Argentina, the United Arab Emirates, and Ethiopia will join the current five members in January 2024. There remains the question of how BRICS will achieve de-dollarization considering the nations’ heavy reliance on the USD. Description The BRICS (Brazil, Russia, India, China, and South Africa) economic bloc is set to expand with the admission of six new countries: Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates. This expansion aims to enhance the economic heft and global influence of the BRICS bloc, countering the influence of the US and … Read more The BRICS (Brazil, Russia, India, China, and South Africa) economic bloc is set to expand with the admission of six new countries: Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates. This expansion aims to enhance the economic heft and global influence of…

TL;DR Breakdown The Pepecoin community faced a crisis when 16 trillion PEPE tokens, valued at approximately $16 million, were unauthorizedly withdrawn from the project’s multisig wallet on August 24, 2023. Former team members were implicated in the theft, allegedly exploiting the multisig wallet system to transfer the tokens to various cryptocurrency exchanges before removing themselves from the project. Description The Pepecoin (PEPE) community was thrown into turmoil following the unauthorized withdrawal of 16 trillion PEPE tokens, valued at approximately $16 million, from the project’s multisig wallet. The incident occurred on August 24, 2023, and led to a precipitous 15% drop in the value of PEPE tokens. The tokens were subsequently transferred to multiple cryptocurrency … Read more The Pepecoin (PEPE) community was thrown into turmoil following the unauthorized withdrawal of 16 trillion PEPE tokens, valued at approximately $16 million, from the project’s multisig wallet. The incident occurred on August 24, 2023, and led to a precipitous 15% drop in the value of PEPE tokens. The tokens were subsequently transferred to multiple cryptocurrency exchanges, including OKX, Binance, Kucoin, and Bybit, raising…

TL;DR Breakdown Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval. Lagarde’s views align with Jay Powell’s, the chairman of the US central bank, who cautioned that the Fed still grapples with uncontrolled inflation. She further countered concerns about the German economy by stating that it was not in a state of disrepair, affirming that efforts were being made to address its issues. Description Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval, addressing the US Federal Reserve annual conference in Jackson Hole, Wyoming. She emphasized that this turbulence could result in a prolonged elevation of inflationary pressures beyond the typical levels, thus intricately complicating the … Read more Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval, addressing the US Federal Reserve annual conference in Jackson Hole, Wyoming. She emphasized that this turbulence could result in a prolonged elevation of…

TL;DR Breakdown The Hong Kong Monetary Authority (HKMA) is examining the development of a regulatory structure for the digital Hong Kong dollar, a stablecoin. Vice President Ruan Guoheng noted that there isn’t a specific timeline set for the promotion of deposit tokenization, and it will be optional for all banks to adopt. Description The Hong Kong Monetary Authority (HKMA) is examining the development of a regulatory structure for the digital Hong Kong dollar, a stablecoin. Additionally, it is actively advancing distributed ledger technology (DLT) within the financial sector to tokenize bank deposits. In the upcoming quarter, a seminar will be conducted in collaboration with the industry to introduce … Read more The Hong Kong Monetary Authority (HKMA) is examining the development of a regulatory structure for the digital Hong Kong dollar, a stablecoin. Additionally, it is actively advancing distributed ledger technology (DLT) within the financial sector to tokenize bank deposits. In the upcoming quarter, a seminar will be conducted in collaboration with the industry to introduce the applications of DLT technology. Vice President Ruan Guoheng noted that there isn’t a…

TL;DR Breakdown The SEC has levied charges against 3M for alleged violations of the Foreign Corrupt Practices Act related to its subsidiary in China. This development emphasizes the need for multinational corporations to maintain transparent and ethical business practices, even in overseas markets. Description In a recent development, the U.S. Securities and Exchange Commission (SEC) has levied charges against 3M, the multinational conglomerate, over alleged violations of the Foreign Corrupt Practices Act (FCPA) in connection with its subsidiary in China. This move by the SEC underscores the agency’s commitment to ensuring that U.S. companies maintain ethical business practices, even … Read more In a recent development, the U.S. Securities and Exchange Commission (SEC) has levied charges against 3M, the multinational conglomerate, over alleged violations of the Foreign Corrupt Practices Act (FCPA) in connection with its subsidiary in China. This move by the SEC underscores the agency’s commitment to ensuring that U.S. companies maintain ethical business practices, even when operating overseas. Contents hide 1 Details of the allegations 2 Implications for 3M and the broader business community 3 Next steps for…

TL;DR Breakdown Judge Martin Glenn denied the establishment of a separate stakeholder class for the Celsius Network and avoided addressing the CEL token’s classification as a security. The CEL token’s valuation remains a contentious issue, with allegations of market manipulation and differing opinions on its true worth amidst the company’s bankruptcy. Description In a recent development surrounding the Celsius Network bankruptcy case, Judge Martin Glenn has made a pivotal decision that could shape the future of crypto stakeholders and the broader digital currency landscape. The judge’s ruling, which came to light in a document filed on August 25, has denied the establishment of a separate class of … Read more In a recent development surrounding the Celsius Network bankruptcy case, Judge Martin Glenn has made a pivotal decision that could shape the future of crypto stakeholders and the broader digital currency landscape. The judge’s ruling, which came to light in a document filed on August 25, has denied the establishment of a separate class of stakeholders for the Celsius Network. This decision has also tactfully avoided addressing the pressing issue…

TL;DR Breakdown Binance removed five sanctioned Russian banks from its peer-to-peer service to comply with international sanctions and regulatory standards. The move underscores the growing tension between cryptocurrency exchanges and global regulatory frameworks, with Binance aiming to bolster its legal standing. Description In a move that underscores the ongoing tension between cryptocurrency exchanges and global regulatory standards, Binance, one of the world’s leading cryptocurrency exchanges, has announced the delisting of five sanctioned Russian banks from its peer-to-peer (P2P) service. This decision comes amidst growing concerns over the potential misuse of the platform by Russian users to move … Read more In a move that underscores the ongoing tension between cryptocurrency exchanges and global regulatory standards, Binance, one of the world’s leading cryptocurrency exchanges, has announced the delisting of five sanctioned Russian banks from its peer-to-peer (P2P) service. This decision comes amidst growing concerns over the potential misuse of the platform by Russian users to move funds overseas, which could further complicate the exchange’s legal standing. Contents hide 1 A response to regulatory standards 2 Binance’s legal quandaries 3 The broader…

Description It was a scene that undoubtedly sent shockwaves throughout the political sphere: Donald Trump, once the highest office holder in the nation, walking into Fulton County jail in Atlanta. Facing a slew of 13 charges, Trump’s surrender is a testament to the persistent efforts of Georgia authorities to ensure accountability over allegations of meddling with … Read more It was a scene that undoubtedly sent shockwaves throughout the political sphere: Donald Trump, once the highest office holder in the nation, walking into Fulton County jail in Atlanta. Facing a slew of 13 charges, Trump’s surrender is a testament to the persistent efforts of Georgia authorities to ensure accountability over allegations of meddling with the 2020 presidential election results. The Domino Effect: Key Players Fall into Place As Trump momentarily exchanged the spotlight for a cell, it was not lost on anyone that several of his associates had already taken the same route. Notably, Rudy Giuliani, Sidney Powell, and Jenna Ellis, all former legal aides to Trump, as well as Mark Meadows, the ex-White House Chief of Staff, had already…

TL;DR Breakdown Singapore-based Vauld crypto exchange gains court approval to revamp its board amid bankruptcy proceedings. Vauld has restarted its Know Your Customer checks, requiring existing clients to resubmit verification documents. In July 2022, Vauld halted customer withdrawals due to adverse market conditions, leading to a $200 million bank run. Description Singapore-based crypto exchange Vauld has received court approval to overhaul its board of directors. The move is part of the company’s ongoing bankruptcy proceedings, which began in August 2022. Darshan Bathija, Vauld’s co-founder, announced the news on X, formerly known as Twitter, on August 24. The new board will consist of a fresh CEO, a … Read more Singapore-based crypto exchange Vauld has received court approval to overhaul its board of directors. The move is part of the company’s ongoing bankruptcy proceedings, which began in August 2022. Darshan Bathija, Vauld’s co-founder, announced the news on X, formerly known as Twitter, on August 24. The new board will consist of a fresh CEO, a creditor representative, and a scheme manager. Moreover, the platform has resumed its Know Your Customer (KYC)…

Description The digital landscape is in the midst of a seismic shift. As the clock ticks down to the enforcement of the EU’s groundbreaking Digital Services Act (DSA), the world’s most formidable online powerhouses have been burning the midnight oil. The imminent EU regulations have spurred them into a frenzy of adjustments, throwing their earlier business … Read more The digital landscape is in the midst of a seismic shift. As the clock ticks down to the enforcement of the EU’s groundbreaking Digital Services Act (DSA), the world’s most formidable online powerhouses have been burning the midnight oil. The imminent EU regulations have spurred them into a frenzy of adjustments, throwing their earlier business models into question and heralding a new era for online content management. Upending Online Norms Gone will be the days of unrestricted personalized advertising based on gender, religion, or sexual orientation. The DSA is pushing tech giants to reconsider their ad targeting methods. Platforms like Instagram, Google, and TikTok now shoulder unique responsibilities under these new regulations, effectively redefining the way the internet functions for millions….