Bitcoin News and Finance: What You Need to Know

The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia Sees Alternative Currencies Like Chinese Yuan Replacing U.S. Dollar in Reserves and Settlements The share of the U.S. dollar in international reserves has dropped below 60% amid increasing use of alternative currencies in international settlements, the Spokeswoman of Russia’s Ministry of Foreign Affairs, Maria Zakharova, pointed out on Wednesday, quoted by the official Russian Tass news agency. The Russian diplomat remarked that this indicator for the status of the greenback was at 72% in 2002. “The euro has now fallen to 19%, from 28% in 2008. By the way, the yuan has risen to 3%, a threefold growth since 2016,” Zakharova added. The report did not mention the source of the data she quo...

Meta’s Horizon Worlds, the metaverse flagship app of the company formerly known as Facebook, is reportedly getting legs as part of users’ avatars in the coming weeks. The functionality is already present in a public test version of the app, but it is only present in Horizon Home, the default space of each user. Meta’s Metaverse Gets Legs for Avatars Horizon Worlds, Meta’s metaverse app, has reached a goal proposed almost a year ago: to give legs to its avatars. According to Uploadvr’s reports, the feature will be included in Horizon Worlds in the coming weeks, with the functionality being present in a public test version of Horizon Home, the default room in which all Quest headset users enter when logging on. The legs donned by the virtual avatars will only be visible in third-person view to avoid the awkwardness caused by leg movements not being accurately represented, as leg tracking hardware and software have still not been included in Quest’s headsets. The legs issue was rais...

Economist Peter Schiff has warned that Bidenomics “will soon be exposed for the fraud that it is, as inflation and unemployment heat up while the economy cools down.” He cautioned: “If Americans think the economy is bad now, just wait until they see what’s coming. Once the dollar cracks, both inflation and interest rates will rise sharply. This will send the economy deeper into recession, causing many people to lose their jobs. That’s the real Bidenomics.” Peter Schiff Calls Bidenomics Fraud Gold bug and economist Peter Schiff slammed President Joe Biden’s economic policy, known as Bidenomics, in a series of posts on social media platform X this week. “If Americans think the economy is bad now, just wait until they see what’s coming. Once the dollar cracks, both inflation and interest rates will rise sharply. This will send the economy deeper into recession, causing many people to lose their jobs. That’s the real Bidenomics,” Schiff detailed on Wednesday. “August consumer confiden...

A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the “weaponization” of the USD is one of the top reasons why Russia, China, and other BRICS nations have been seeking an alternative to the dollar. US Dollar v Chinese Yuan Skylar Montgomery, senior global macro strategist at Globaldata TS Lombard, an independent investment research group focusing on global macro and strategy, explained in a note on Wednesday that the Chinese yuan is unlikely to replace the U.S. dollar as the world’s reserve currency. She detailed that the U.S. dollar’s global reserve currency status “is a privilege that gives the U.S. significant political, economic, and market influence.” However, she cautioned that the U.S. government is using the USD as a political tool, as seen in the West’s action to freeze Russia’s currency reserves in response to the invasion of Ukraine. The strategist described: That we...

On September 1, Arkham Intelligence, a crypto analytics and data tracking agency, reportedly pinpointed the ethereum ( ETH ) holdings of Grayscale for its Ethereum Trust. Arkham reveals that Grayscale’s ether stash is spread across 500 distinct addresses. Grayscale’s Ethereum Holdings Mapped by Arkham According to Arkham, the firm has identified the ethereum owned by Grayscale for the Ethereum Trust fund. The fund’s shares are based on a fraction of ether, and each share represents 0.00963214 ETH on September 1, according to Grayscale’s web portal . Grayscale’s Ethereum Trust was initially introduced in December 2017, and Arkham believes the company is now the second-largest holder of ETH . “Arkham has identified the Grayscale Ethereum Trust onchain,” the firm posted to the social media platform X. “It is now the second largest ETH entity globally with $5B in ETH . This had not been previously reported or publicly identified.” The firm added : The Grayscale funds are split o...

The number of verifications for Worldcoin, the biometric digital ID and wallet project, has soared recently in Argentina, reaching a daily signup record in August. According to data provided by the project, Worldcoin verified 9,500 Argentine users in a single day, with only four verification stations in the country. Wordcoin Popularity Peaks in Argentina; Project Reaches 9.5K Verifications in a Day Worldcoin, the biometric ID and digital wallet project, has recently experienced a surge in popularity in Argentina. According to data provided by the project, Argentina reached a record for signups during August, registering more than 9,500 verifications in a single day. Worldcoin project co-founder and CEO of Tools for Humanity Alex Blania attributed this high demand to the interest Argentine citizens have in crypto and innovative tech tools. At the Ethereum Argentina Mainnet Stage, he stated: I think the first major thing that stands out is that Argentina specifically is one of the...