Bitcoin News and Finance: What You Need to Know

Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need the dollar to trade with China?” he stressed. “We can do it in our own currency.” President of Brazil on De-Dollarization, BRICS Expansion Brazilian President Luiz Inacio Lula da Silva reiterated his call for the abandonment of the U.S. dollar in international trade during a press briefing with international journalists last week. Lula has long been a vocal critic of the U.S. dollar’s dominance in international trade and has called on nations to abandon the dollar in favor of national currencies. He maintains that countries should opt for their respective currencies rather than relying on the USD. Regarding de-dollarization and using national currencies in trade settlements, the Brazilian president stressed: ...

U.S. senators have pressed the Biden administration for measures to counter “serious national security threats” posed by North Korea’s dependence on cryptocurrency. According to the lawmakers, North Korea is using crypto “to evade harsh sanctions and support its ambitions to project geopolitical power through nuclear weapons and ballistic missiles.” US Lawmakers Concerned About ‘Serious National Security Threats’ Linked to North Korea, Crypto U.S. Senators Elizabeth Warren (D-MA), Tim Kaine (D-VA), and Chris Van Hollen (D-MD) have pressed the Biden administration for measures to counter crypto-related national security threats. In their letter , dated Aug. 3, to Brian E. Nelson, Treasury Department’s Under Secretary for Terrorism and Financial Intelligence, and Jake Sullivan, the White House’s National Security Advisor, the lawmakers wrote: “We write to express concern about the national security threat posed by North Korea’s reliance on digital assets to circumvent international s...

Central banks ramped up gold purchases in June, according to statistics from the International Monetary Fund (IMF). In this period, central banks added 55 tonnes of gold to their reserves after three months of net selling, with China purchasing the most gold (21 tonnes). Central Banks Back to Purchasing Gold in June The world’s central banks reversed their three-month gold selling spree to make purchases during June. According to international financial statistics issued by the International Monetary Fund (IMF), net gold purchases during June reached 55 tonnes, with six central banks purchasing gold during this period. One of the largest purchasers of gold was the Central Bank of Turkey, which also resumed purchases after having been a net seller during recent months due to a ban on gold imports after an earthquake in February. Nonetheless, the Central Bank of Turkey added 11 tonnes to its official reserves, which reached 440 tons by the end of June. Krishan Gopaul, senior analys...

Bitcoin started the week mostly flat, as market volatility remained near recent lows during today’s session. Traders appear to be on the sidelines ahead of Wednesday’s key inflation report from the United States. Ethereum mostly consolidated on Monday. Bitcoin Bitcoin ( BTC ) continued to hover near the $29,000 level to start the week, as market volatility was mostly muted on Monday. After Sunday’s low at $28,963.83, BTC /USD jumped to a high of $29,166.82 earlier in today’s session. The world’s largest cryptocurrency has mostly been trading between a support level of $28,800, and a resistance of $29,500 for the majority of the last week. Bitcoin chart by TradingView Looking at the chart, the relative strength index (RSI) is also tracking near a floor of its own around the 42.00 mark. In addition to this, the 10-day (red) moving average has begun to flatline following a downtrend, which is a sign of price stagnation. Consolidation could likely continue until Wednesday’s...

The Federal Bureau of Investigation (FBI) has issued a Public Service Announcement (PSA) warning about criminals impersonating non-fungible token (NFT) developers in social media. According to the PSA, criminals can impersonate these developers on social media by hijacking accounts or using similar account names and directing interested users to fake NFT sales pages to drain their wallets. FBI Warns Users About NFT Scams The Federal Bureau of Investigation (FBI) has issued a Public Service Announcement (PSA) warning users about non-fungible token (NFT) scams involving criminals impersonating developers of renowned projects. To target NFT-interested users, the criminals might take different routes, hijacking the accounts of these significant NFT projects or using almost identical account names in social media. Using these tools, these criminals offer new or previously not announced collections of NFTs on social media, posting links to the pages where these fake offers are supposedl...

An author from Scotland has been targeted for her work to expose one of crypto history’s most notorious Ponzi schemes, Onecoin. Jennifer McAdam recently canceled book signings after receiving death threats for writing about the massive fraud and its ‘Cryptoqueen’ mastermind. Writer Cancels Promotional Events for Book on Onecoin on Advice From Scottish Police and FBI Author Jennifer McAdam has been forced to cancel a promotional tour for her book ‘Devil’s Coin’ exposing the crypto pyramid Onecoin which defrauded millions of investors around the world, the Scottish Sun newspaper reported. McAdam writes about Onecoin’s founder Ruja Ignatova, dubbed the “missing Cryptoqueen” as she is still wanted by Interpol, Europol , and the U.S. Federal Bureau of Investigation ( FBI ), which put it on its ten most-wanted fugitives list. The writer’s decision came after police in Scotland as well as the FBI advised her against carrying out planned signings in Irvine, Ayr and Glasgow for the book de...