Bitcoin News and Finance: What You Need to Know

Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Jeffrey Tucker on De-Dollarization, USD’s Turning Point Jeffrey Tucker, an author and publisher who worked for former U.S. Representative Ron Paul and the Mises Institute for many years, shared his view on the growing de-dollarization trend and its effects on the U.S. economy in an interview with NTD News on Wednesday. Responding to a question about whether de-dollarization is actually happening and when we will feel its effects, he explained that the U.S. has held dominance in the global currency market since 1944, which has enabled it to influence policies worldwide. However, referring to the attack and sanctions imposed by the U.S. government on Russia following the outbreak of the Russia-Ukraine war, he opined: History will record t

Former U.S. President Donald Trump has warned that the U.S. losing a currency war against China would be like America losing a world war. “We’ll be a second-tier country,” Trump cautioned, adding that the U.S. dollar is “what makes us powerful and strong.” Donald Trump on US-China Currency War Former President Donald Trump warned in an interview with Fox News, aired Wednesday, that China pushing a large portion of the world off of the dollar standard would be the equivalent of America losing a world war. “Iran gets together with Saudi Arabia through China. And China is taking over … And, I heard a couple of people say, ‘Well, we’ll never lose a dollar standard.’ Are they kidding?” he said, elaborating: China wants to change the standard, the currency standard. And if that happens, that’s like losing a world war. We’ll be a second-tier country. In addition, the former U.S. president explained that Western countries have already lost Brazil to Chinese influence and are on the ve

Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and money laundering.” Referring to CBDCs as ‘Woke’ Money, Krugman Attacks ‘Monetary Conspiracy Theory Types’ Economist Paul Krugman, who follows the Keynesian school of economics, wrote an opinion article criticizing Florida governor Ron DeSantis’s opposition to a central bank digital currency (CBDC). Krugman noted that the U.S. does not yet have a CBDC, but the Federal Reserve is exploring the idea. Krugman argued that if the Fed does create a CBDC, it is “highly unlikely that a state government would have the right to prohibit its use.” He also pointed out that the current financial system is already largely digit

Cardano rose to a fresh multi-month high on Saturday, as the token surged for a ninth consecutive session. The price is now up by over 15% in that time, cementing its place as the world’s seventh-largest cryptocurrency. Avalanche is also trading higher, hitting a two-month high in the process. Cardano ( ADA ) Cardano ( ADA ) once again extended a recent bull run, with the token climbing for a ninth straight day. Following a low of $0.4274 during Friday’s session, ADA /USD rose by as much as 5% today, hitting a peak of $0.4581 in the process. Saturday’s surge has sent ADA to its highest level since September 27, when the price was above $0.4600. From the chart, it appears that the latest rise in price coincides with the relative strength index (RSI) moving past a key ceiling. The aforementioned point of resistance was at the 72.00 mark, with the index currently tracking at 75.92. Should price strength continue to move higher, an upcoming wall at the 80.00 mark could be a potent

Ethereum remained above $2,100 to start the weekend, despite crypto markets moving into consolidation. Following this week’s gains, traders have seemingly started to secure gains, with the global market cap down by 0.52% as of writing this. Bitcoin has fallen below yesterday’s peak above $31,000. Bitcoin Bitcoin ( BTC ) moved back below the $31,000 level on Saturday, as cryptocurrency markets consolidated to start the weekend. Following a high of $31,005.61 on Friday, BTC /USD dropped to a low of $30,044.50 earlier in today’s session. Yesterday’s peak saw bitcoin climb to its highest level since June 7, which has seemingly prompted bulls to secure gains. Looking at the chart, the decline in price comes as the 14-day relative strength index (RSI) collided with a ceiling at 71.00. At the time of writing, the index is now tracking at 70.18, which is marginally higher than a floor at 68.00. In the event the RSI drops below 70.00 there is a good chance that even more bulls could vac

On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing. Bittorrent Creator’s Chia Aims for an IPO Bram Cohen’s Chia network intends to go public and took a step in that direction on Friday, April 14, 2023, when the firm submitted a Form S-1 filing with the SEC. The blockchain and cryptocurrency project, launched in 2018, leverages storage for consensus through a mechanism called Proof of Space and Time (PoST), in contrast to Bitcoin’s proof-of-work (PoW). PoST uses hard disk space as the foundation for its consensus algorithm. Chia’s COO Gene Hoffman indicated that the company had been focused on an IPO since May 2021. On April 14, Chia announced that it had confidentially submitted a

Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the Industrial and Commercial Bank of China (ICBC) paves the way for cheaper and simpler payments between the countries, according to analysts. Brazil and China Move to Settle Trades Using the Chinese Yuan Brazil and China have moved towards a tighter trade integration, having processed their first bilateral settlement using the Chinese yuan. The first transaction was processed by the Industrial and Commercial Bank of China (ICBC), the bank designated by the Chinese government to act as a clearing institution for Brazilian companies determined to use the yuan for international settlements. The integration of the Chinese yuan in cross-border settlements signals a new, simpler way for companies to be involved in trade transactions without inc