Russia Utilizing Bitcoin and USDT for Oil Transactions with China and India: Report
Russian enterprises are increasingly turning to cryptocurrencies such as Bitcoin and Tether (USDT) to conduct trade with China and India amid ongoing international sanctions, according to a report from Reuters. Citing four individuals familiar with the matter, the report suggests that Russian oil firms have employed digital currencies, including Bitcoin (BTC) and Tether (USDT), to […]
Europeans Show Limited Interest in Digital Euro, ECB Study Finds
A recent study by the European Central Bank (ECB) indicates that European consumers have little enthusiasm for adopting a central bank digital currency (CBDC), posing a challenge for the ECB as it considers introducing the digital euro. The ECB’s working paper, titled “Consumer Attitudes Towards a Central Bank Digital Currency,” surveyed around 19,000 individuals across […]
US CPI Lower Than Expected — Are Rate Cuts on the Horizon?
The latest US core Consumer Price Index (CPI), a key gauge of inflation, recorded a lower-than-anticipated increase of 3.1%, surpassing market predictions of 3.2%. This was accompanied by a slight 0.1% dip in overall inflation figures. Matt Mena, a crypto research strategist at 21Shares, noted that the decline in inflation strengthens the case for the […]
Banks Push Back Against Stablecoin Legislation Amid Market Share Concerns
The banking sector and its supporters in the US Senate are mounting resistance against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, fearing that stablecoins could bypass traditional banks and cut into their market dominance. As reported by American Banker, the bill requires a 60-vote majority to pass the Senate, meaning at […]
EU Tariffs Add to Market Uncertainty, Bitcoin Faces Potential Drop Below $75K
The European Union’s latest wave of retaliatory tariffs has heightened economic uncertainty, leading crypto analysts to predict increased volatility for Bitcoin, which could dip below the crucial $75,000 support level. The EU announced on March 12 that it will implement counter-tariffs on $28 billion (26 billion euros) worth of US goods starting in April. This […]
Senator Lummis’ BITCOIN Act Could Expand US Reserve Beyond 1 Million BTC
A recently reintroduced bill by US Senator Cynthia Lummis, known as the BITCOIN Act, could enable the federal government to accumulate more than 1 million Bitcoin as part of a newly established strategic reserve. Originally introduced in July, the bill mandates that the government acquire 200,000 BTC annually for five years, ultimately reaching 1 million […]
XRP ETF: Funds Awaiting SEC Approval
The race for an XRP exchange-traded fund (ETF) in the United States is heating up, with Franklin Templeton becoming the latest asset manager to enter the competition. The firm recently submitted a filing for a spot XRP ETF, joining several other financial institutions eager to launch similar products. Franklin Templeton’s XRP ETF Filing Franklin Templeton’s […]
Trump May Be Manipulating Markets to Force Interest Rate Cuts
The Trump administration could be deliberately fueling uncertainty in the stock market to pressure Federal Reserve Chair Jerome Powell into reducing interest rates, according to a financial analyst. This tactic might help the U.S. government avoid refinancing approximately $7 trillion in national debt over the coming months, Bitcoin analyst Anthony Pompliano suggested in a March […]
Ethereum Faces Potential Drop to $1,800 Amid ETF Outflows and Trade Concerns
Ether is facing challenges in reversing its nearly three-month-long downtrend as macroeconomic uncertainties and ongoing selling pressure from U.S.-based Ether exchange-traded funds (ETFs) continue to dampen investor confidence. Ethereum’s Downward Trajectory The price of Ether (ETH) has dropped by over 53% since its peak above $4,100 on December 16, 2024, according to TradingView data. This […]
Trump’s Crypto Stance Could Undermine Europe’s Financial Stability, Warns Top EU Official
European financial authorities are voicing concerns over former U.S. President Donald Trump’s support for cryptocurrencies, fearing its potential impact on the eurozone’s economic sovereignty and stability. “The U.S. administration is increasingly embracing digital assets, particularly dollar-backed stablecoins, which raises important concerns for Europe,” stated Pierre Gramegna, Managing Director of the European Stability Mechanism (ESM), during […]