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The Lebanese pound’s fall to its lowest ever versus the U.S. dollar, 80,000 to 1, has piled more misery on residents whose local currency-denominated savings have been decimated by inflation. The ongoing strike by banks demanding the passage of capital control legislation has compounded matters for residents. Lebanese Pound Devaluation According to
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As per reports, public bankruptcy markets are currently valuing distressed FTX assets at around $0.16 on the dollar. In an interesting development, the FTX bankruptcy claims are up for sale in private over-the-counter (OTC) markets. Sources familiar with the matter said that distressed fund assets can pick up these claims. FTX Bankruptcy
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Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.” De-Dollarization and CBDCs:
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Distressed asset funds can pick up FTX bankruptcy claims for around 20 cents on the dollar in hidden over-the-counter (OTC) markets, a person familiar with the matter told CryptoX. Source
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Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as "extremely positive" economic data boosted risk asset sentiment.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price aims for $23,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2.2% on the day to eye a reclaim of $23,000.Analysts were
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The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based on the local currency. South Sudan’s Economic Meltdown As part of
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Fiat-backed stablecoins are no different. Financially speaking, sending someone 100 USDC is no different than sending them $100 via Venmo. In both cases, one user is handing over a claim against a balance sheet – Circle’s versus PayPal’s – to another. From the issuers point of view, each dollar held
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According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central
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Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies (CBDCs) and corporate payment rails
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Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global
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