Bitcoin News and Finance: What You Need to Know

Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group. Brazilian President Lula Supports BRICS Currency Creation Brazilian President Luiz Inacio Lula da Silva reiterated Wednesday that he supported creating a currency for trading between BRICS countries, Reuters reported. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. In a speech during a trip to Spain, he said without providing further details: I am in favor of creating, within the BRICS, a trading currency between our countries, just like the Europeans created the euro. Lula’s support for the creation of a BRICS currency followed his statement urging developing countries to stop using the U.S. dollar and adopt local currencies instead. The Brazilian president said on April 13 during his visit to the New Development Bank in Sh...

A top Russian official has urged all countries to make efforts to ensure that the “threat of global confrontation, of a hot, full-scale World War III” does not materialize. “World tensions are white-hot indeed,” he warned. Russian Official: Full-Scale World War III Should Not Materialize The deputy chairman of Russia’s Security Council, Dmitry Medvedev, urged all countries to make efforts to avoid the outbreak of a new, full-scale global conflict Tuesday while addressing participants in the Znanie (Knowledge) educational marathon. “I cannot say what the last straw, what the trigger may be. But it may happen at some point,” he was quoted by Russian news outlet Tass as saying. The official emphasized: We all need to work to ensure that this threat of global confrontation, of a hot, full-scale World War III should not materialize. Commenting on the current conflict between Russia and Western countries, he stressed that Russia has no desire to see a war break out. However, he said...

Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. If member nations use only a common BRICS currency for international trade, “they would remove an impediment that now thwarts their efforts to escape dollar hegemony,” he described. Former White House Economic Advisor on BRICS Currency and U.S. Dollar’s Reserve Currency Status A former White House economic advisor, Joseph Sullivan, discussed de-dollarization and the potential impacts of a BRICS currency on the USD in an opinion piece published by Foreign Policy Monday. The BRICS nations are Brazil, Russia, India, China, and South Africa. Sullivan was a special advisor and staff economist at the White House Council of Economic Advisers during the Trump administration. He is currently a senior advisor at the Lindsey Group, an economic advisory firm. Referring to the hypothetical BRICS currency as “the bric,” he warned: If the BRICS used only the bric for internati...

Amidst the buzz surrounding bitcoin’s latest price surge, a significant number of transactions are currently clogging up the mempool. As of writing, 134,986 unconfirmed transactions await confirmation, and block times are lingering above the usual ten-minute mark. Bitcoin Transactions Backlogged as Mempool Reaches Higher Levels On the morning of Wednesday, Bitcoin.com News brought to light the decrease in Bitcoin’s global hashrate over the past 24 hours, currently hovering just above the 300 exahash per second (EH/s) range. Meanwhile, block intervals have slowed down and surpassed the average ten-minute mark, with the most recent block taking a total of ten minutes and 50 seconds to be validated. Even though bitcoin’s price initially soared past the $30K mark earlier today, by 4:00 p.m. Eastern Time (ET) on April 26, 2023, the value had regressed back to a low of $27,242. Since then, the price managed to jump back above the $28K zone . At present, the mempool remains packed with...

Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic devaluation of the Argentine peso and the 100%+ interannual inflation that Argentina registered in March. Dollarization Surges as Option to ‘Fix’ Argentine Economy Argentine economists and the population are debating dollarization as a possible solution to the devaluation and inflation problems the country is currently facing. The proposal, presented by Javier Milei, one of the strongest contenders in the next October presidential election according to several polls, includes the abandonment of the Argentine peso as a fiat currency, and the conversion of all deposits and reserves of the central and private banks to U.S. dollars. According to Milei, this would be one of the more feasible solutions to the myriad problems the national economy is fac...

PRESS RELEASE. Golden Gate (GGX) is a novel interchain infrastructure protocol that eliminates Layer 0 communication friction by delivering protocol-agnostic communications and more secure liquidity transfer. Golden Gate mediates interchain communication via the Incentivized Message Delivery Protocol (IMDP), which uses a network of couriers running light clients to deliver messages for efficient cross-chain communication. Golden Gate supports the IBC, XCMP, and LayerZero communication protocols, amongst others, making it universally composable across Web3 infrastructure. With this architecture, Golden Gate delivers a next-generation programmable layer 0, enabling developers to leverage this technology stack to benefit their dApps and, ultimately, their end users. In practice, this means that developers will be able to deploy their dApps such that they are natively interoperable and protocol agnostic from day 1, abstracting away the need to worry about cross chain interoperability. ...