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Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies will chip away at the U.S. dollar’s dominance. Jen was formerly a managing director at Morgan Stanley in London and a senior economist at the International Monetary Fund (IMF). After stating that the U.S. dollar is losing its world’s reserve currency status at “an alarming pace,” the former Morgan Stanley director told the Insider publication that the de-dollarization trend is likely to continue. However, he noted that it will “probably not to a point where a non-dollar currency commands a bigger market share than the dollar.” Jen described: More likely, we will evolve from a unipolar rese...

BRICS  is an acronym for five of the leading economies in the world: Brazil, Russia, India, China, and South Africa. Together, the nations are looking to establish their own BRICS currency in order to decrease the influence of the US in the global trade market by means of de-dollarization. This currency will look to reduce dependency on the US dollar and other major currencies. Currently, each of the nations use its own currencies but will look towards using a common one in the future with BRICS . When may this be? Source: VCG / ChinaDaily.com.cn When Will BRICS Currency be Released? To establish a new currency, plenty of factors have to be considered and discussed, all of which will take time. Therefore, there isn’t a set date or time for the BRICS currency to and begin adoption amongst Brazil, Russia, India, China, and South Africa. However, this is surely something that the BRICS nations will discuss at the upcoming BRICS Summit in August. The currency may...

On April 28, StormGain, a leading crypto exchange platform, announced its partnership with Unstoppable Domains, a company that offers to replace complicated cryptocurrency addresses with easy-to-read blockchain-based Web3 domain names. The StormGain and Unstoppable Domains partnership comes with rewards and utility to StormGain users. The partnership between StormGain and Unstoppable Domains will provide StormGain users with time-limited rewards and added utility. In detail, Unstoppable Domains offers StormGain users a 25% Discount up to $25 on any of its domains. Furthermore, Unstoppable Domains has become a new authorization method on StormGain DEX. ️ We're thrilled to offer you a great deal: the Unstoppable 25% OFF Special ️ With this offer, you'll receive a #discount of 25% off up to $25. Available until 11:59 ET on 2 May ️ Join the Web3 evolution today: https://t.co/3QyPFIckMQ pic.twitter.com/TqDVgrilxl — StormGain (@StormGain_com) April 27, 2023 Un...

The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government to internationalize its currency for payments. Chinese Yuan Used to Settle Most of China’s International Payments in March Beijing is now settling most of its international trade operations using the Chinese yuan. According to official numbers from the State Administration of Foreign Exchange, a Chinese national institution in charge of managing China’s international reserve, the payments settled using the Chinese yuan overtook those made with U.S. dollars in March, being used in 48.4% of all settlements. The Chinese yuan was used to settle $549.9 billion in payments, a record number, rising from $434.5 billion in February. The usage of the U.S. dollar for these payments fell from 48.6% to 46...

Crypto investor and trader Lady of Crypto has released a quick guide on how to farm the COTI airdrop. In one of her recent tweets, she breaks down how to farm COTI and become eligible for the airdrop. Airdrops print money, so here's a quick guide to farming the $gCOTI #airdrop from @COTInetwork. The last airdrop they did was worth tens of millions, so I'm excited about this one! Their Medium article was quite wordy, so I will break it down into easy steps, let's go 1 of 8 — Lady of Crypto (@LadyofCrypto1) April 26, 2023 Lady of Crypto mentioned three straightforward items that are mandatory for the airdrop. These include a Coti Viper wallet, some COTI or stablecoins to stake, and a MetaMask wallet. The cryptocurrency trader also broke down how it works. She stated that once a Viper wallet is ready and some COTI for staking is available, users have to go to the Treasury.Coti website. Once visited, users have to connect their MM wallet and choose the ER...

Ankr-Microsoft Team To Boost Blockchain Infra The collaboration between the two giants will be an integration of technology. This will see pairing Ankr ’s innovative blockchain infrastructure with Microsoft’s cloud solutions aiming to serve millions of users. advertisement According to the announcement, The enterprise node deployment service will be live for global users with low latency blockchain connections. This move aims to help any Web3 project or developer so they can work effortlessly on innovating and escalating their Web3 applications. Ankr led solutions combined with Azure will have a chance to build a base for the most powerful industry solutions. As expected it will create a stronger infrastructure layer for the industry. However, the partnership will provide a new avenue to grab more users with serving a massive amount of RPC traffic. Trending Stories ETH Price Prediction: New Recovery Cyc...

‘Nodlers’, which are small wireless nodes that connect to the Nodle Network and act as relays for IoT devices, power the Nodle Network. Nodle rewards people who run these nodes with its own cryptocurrency, NODL, which may be traded on various compatible exchanges. Moreover, Nodle’s network is built to be highly scalable and cost-effective, making it ideal for a variety of IoT applications ranging from asset tracking to smart homes to industrial automation. advertisement Nodle’s Smart Missions Smart Missions are an innovative and exciting feature added to Nodle’s network. The idea behind Smart Missions is simple: Nodle collaborates with businesses to create missions that incentivize users to complete specific tasks using their IoT devices. NODL, the cryptocurrency which powers the Nodle Network, is awarded to users who successfully complete the tasks. In terms of use cases, the missions can be as simple as taking a picture or connect...

All segments of RLB NÖ-Wien clients will be able to invest in a broad number of cryptocurrencies with a budget of as little as one euro. Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking company founded in 1900, is preparing to launch crypto investment services in collaboration with the Austrian crypto firm Bitpanda. According to a joint announcement on April 26, RLB NÖ-Wien plans to provide its customers with a broad range of cryptocurrencies through Bitpanda’s Software as a service (SaaS) offering. Crypto investment will be featured alongside investment services for stocks, exchange-traded funds, precious metals and commodities. “The deal with Bitpanda aims to expand our product range with an innovative, secure facet and enable all customers to easily accumulate wealth,” RLB NÖ-Wien CEO Michael Höllerer said. A part of the major Austrian banking group, Raiffeisen Bank International, is moving into cryptocurrency investment with a new planned o...

Arbitrum has started distributing its ARB tokens to more than 130 decentralized autonomous organizations (DAO) that participated in its ecosystem and built dApps to increase activity and adoption. The DAOs were selected based on their participation in the Arbitrum ecosystem. The full distribution of the DAO airdrop will take place today with those that have confirmed receiving the test transaction that was sent earlier last week. For more details on the DAO distribution, please read the thread below. https://t.co/naApiR7uT2 — Arbitrum (,) (@arbitrum) April 24, 2023 According to the initial token allocation and airdrop distribution published by Arbitrum ahead of its initial airdrop, 1.13% of the initial supply was reserved for qualified DAOs. These 137 DAOs will be given almost 113 million ARB, with the most active builders receiving as much as $8 million worth of tokens. The DAOs were instructed to post their destination address publicly in order to verify that ...

Apr 25, 2023 at 07:27 // Price Author Coin Idol Although the Ethereum price (ETH) is still declining, it is currently above the support level of $1,800. Long-term analysis of the Ethereum price: bearish The largest altcoin has been bouncing between moving average lines since April 21, which has slowed the current decline. The upward correction was halted at the $1,900 high as selling pressure stalled above the $1,800 support. Conversely, Ether is trading in a small range between $1,800 and $1,900, but between the moving average lines. On the positive side...

Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC), has won a legal dispute against Ryder Ripps and Jeremy Cahen regarding their satirical NFT collection, as ruled by a judge in the United States. On April 21, a ruling was filed by the court granting Yuga Labs injunctive relief and monetary damages in the case. US District Judge John Walter ruled in favor of Yuga Labs in their legal dispute against Ripps and Cahen over their satirical NFT collection. The judge found that Ripps had infringed on unregistered marks and engaged in cybersquatting and that his Ryder Ripps Bored Ape Yacht Club collection was likely to confuse consumers. 13/ TLDR: Big win for Yuga, damages tbd at trial. Court's Order:https://t.co/Rhvt57KDp3 — NeerMcD.eth (@NeerMcD) April 22, 2023 However, Yuga’s motion for statutory damages was denied, with damages to be determined at trial. Copyright attorney Jessica Need McDonald called the ruling a “big win” for Yuga, and...

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still paused in Venezuela. Argentine Peso Plunges 10% Against the Dollar The Argentine Peso has lost more than 10% against the U.S. dollar during the last week, going from less than 400 pesos per dollar in the informal blue exchange rate to more than 440 on April 21. The cause of this sudden rise has to do with the perceived weakness of the Argentine government, which has been unable to control the rise of inflation, which reached inter-annual levels of more than 100% in March, the highest in all of Latam. The country currently holds $2 billion in its foreign currency reserve, a low number when compared to the reserves of Brazil, an economy five times the size of Argentina, which holds approxima...

Join Our Telegram channel to stay up to date on breaking news coverage Love Hate Inu, the initiative that is altering the global voting sector, was successful in raising $5.4 million during their fifth round of token presale. The latest crypto meme coin, Love Hate Inu, puts the power of decision-making in the hands of its holders through community-driven methods including voting. Strong communities are a major selling point of meme coin initiatives, thus Love Hate Inu’s community-driven strategy has a lot of potential. The Web3 First Vote-to-Earn Love Hate Inu, a brand-new meme coin that has garnered a thriving community, is the finest cryptocurrency on presale to invest in right now. Within hours of its launched, this project became quite popular. Since the coin was created as a vote-to-earn cryptocurrency, which allows users to powerfully express their thoughts on different issues and pressing concerns via Love and Hate expressions or emotions, it has a very high pot...

Uwerx is a new crypto project seeking to disrupt the market for freelance workers. By leveraging a growing sector, Uwerx has a big growth opportunity with the blockchain. The coin has been tipped for big things in the year ahead while others will be a slow rebound. Chiliz (CHZ) needs more mainstream adoption for sports fans to embrace the blockchain. Theta Network (THETA) is a project that has aligned itself with NFTs and will need that sector to bounce back. Uwerx (WERX) Can See Rapid Gains Uwerx is a new project currently in presale that can benefit from being under the radar with many investors. Uwerx is planning to unseat the market leaders in the freelance work sector with a blockchain platform and take early market share with its fundamental advantages. The current market leaders in the gig economy are projects like Fiverr, but these are Web2 platforms with centralized power. By moving to decentralization, Uwerx can secure a better deal for workers and employers. Although U...