Bitcoin News and Finance: What You Need to Know

India’s oil and gas minister says de-dollarization is a long way away. The official emphasized his desire to conduct all transactions in rupees, expressing his wish for the Indian currency to become “the lead currency in the world.” Indian Official on De-Dollarization India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri stated in an interview with CNBC on the sidelines of the B20 Summit in New Delhi on Friday that de-dollarization is a long way off. Puri explained that he expects the U.S. dollar to maintain its dominance in global trade. Commenting on factors that could dethrone the USD as the world’s reserve currency, he opined: I don’t know what kind of change [the dollar needs to] be affected but I don’t see it … It’s not so easy. The minister further shared that he does not see the Indian rupee challenging the U.S. dollar as a major global currency, even though it is being used in some oil transactions alongside the Chinese yuan and the Russian ruble. Nonetheles...

The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan has increased. SWIFT Data Indicates US Dollar Dominance The dominance of the U.S. dollar in international payments has reached a record high, according to the latest transaction data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the leading global financial messaging service. SWIFT’s messaging platform, products, and services connect more than 11,000 banking and securities organizations, market infrastructures, and corporate customers in more than 200 countries and territories. The data shows that the share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July, compared to slightly more than one-third a decade ago, Bloomberg report...

Economist Peter Schiff has warned about an impending “full-blown financial crisis” that he expects to hit the U.S. economy before the Federal Reserve reaches its inflation target. He further predicted that the financial crisis will force the Fed to raise its inflation target. Peter Schiff’s Latest Warnings Gold bug and economist Peter Schiff warned of an impending U.S. financial crisis in a series of posts on the X social media platform this week. Commenting on Federal Reserve Chairman Jerome Powell’s speech at the central bank’s Jackson Hole symposium regarding inflation on Friday, Schiff wrote: “During his Jackson Hole speech, Powell admitted that the Fed still has a long way to go to achieve its 2% inflation target.” The gold bug exclaimed: That’s a gross understatement, as a full-blown financial crisis will ensue long before the target is hit, forcing the Fed to raise the target above 2%. In a follow-up post, the economist wrote: How can Powell give a speech about inflatio...

Rich Dad Poor Dad author Robert Kiyosaki has outlined the reasons why investors should consider purchasing silver. He emphasized that despite the affordability of silver coins, most people still prefer to “save counterfeit fake dollars.” Robert Kiyosaki Highlights Reasons to Buy Silver The author of Rich Dad Poor Dad, Robert Kiyosaki, has returned to outline the reasons why he believes investors should buy silver. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Reiterating that silver is the “best investment bargain,” he wrote on the X social media platform on Thursday: Silver still 50% below all-time high, in demand by greenies solar EVs. Silver 2nd most used commodity after oil. Silver has been money for centuries. Who can’t afford 1 silver coin, yet most people prefer to s...

One of the founders of the Tornado Cash crypto mixer, Roman Storm, has been released on bail, his lawyer announced on social media. Storm, who was arrested in the United States, has been charged with money laundering and sanctions violations through the unlicensed platform. Storm Out on Bail After Indictment for His Role in Running Tornado Cash Roman Storm, a co-founder of the cryptocurrency mixing service Tornado Cash , has been released on bail, his lawyer Brian Klein revealed Thursday in a post on X, formerly Twitter. The news came a day after Storm and another co-founder, Roman Semenov, were indicted on charges of conspiracy to launder money and violate sanctions laws while operating an unlicensed money-transmitting business. Pleased to share that my client Roman Storm is already out on bail, although I remain very disappointed that the prosecutors charged him because he helped develop software – their novel legal theory has dangerous implications for all software developers....

Crypto exchange Binance has replaced the names of cards issued by Russian banks with colors, Russian media revealed amid reports of a U.S. investigation into potential sanctions violations. The changes concern the ruble exchange feature on Binance’s peer-to-peer platform. Russian Traders on Binance Offered ‘Green’ and ‘Yellow’ Cards as Payment Options Binance, the world’s largest digital asset exchange by trading volume, has changed the names of the cards of two Russian banks, Sberbank and Tinkoff, on its platform, Russian crypto news outlets Bits.media and RBC Crypto reported. The change has been made on Binance’s peer-to-peer ( P2P ) platform where Russian users can now choose between a “green local card,” (for Sberbank, according to the websites) and a “yellow local card” (for Tinkoff) in the payment options menu. The renaming follows the publishing of a report by the Wall Street Journal (WSJ) on Tuesday, quoting sources, according to which Binance is under investigation by th...

Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for all BRICS countries at this juncture. Russian Foreign Minister Lavrov: ‘No One Is Talking About a Single Currency Now’ Russian Foreign Minister Sergey Lavrov stated one of the objectives of the BRICS bloc was to achieve independence from the Western-controlled economic and payment system in its internal trade settlements and transactions. At the BRICS summit recently held in Johannesburg, Lavrov explained that this would be one way of escaping the hegemony of the U.S. as the issuer of the dollar. Quoted by the state-owned Russian news outlet TASS, Lavrov stated : All attention is now focused on finding ways to ensure our mutual trade, mutual economic projects and investments in such a way so...