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BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West Requires Discarding Dollar, BRICS Leadership, Syrian President Says Confrontation with the United States and the West in general has been taking place mainly in the economic field and that makes it increasingly necessary to ditch the U.S. dollar as a currency for global transactions, President Bashar Assad of Syria was quoted as saying by Sana, the Syrian state-controlled news agency. Assad emphasized that the BRICS bloc, through the adoption of the Chinese yuan for trade transactions between nations, can play a leading role in that regard. He made the comments during a meeting with the Chinese government’s Special Envoy for the Middle East, Zhai Jun, whom he receive...

Also Read: Popular Analyst Predicts Looming Ethereum Price and Altcoins Crash advertisement Meanwhile, Ripple and the XRP community is hopeful of the Summary Judgement in the SEC lawsuit sometime within 2023, amid rising hopes of Ripple’s win. However, such an environment is failing to translate into XRP price rise, and hence indicating that it will remain same until Ripple secures a clear win. XRP Holders’ Loss John Reed Stark, who had worked as a lawyer in the SEC’s enforcement division for a long time, admitted that the SEC’s actions in the XRP lawsuit led to investors losing in billions of dollars. He expressed his stance on crypto saying these tokens fail to fit in the criteria for both investment and currency, adding that fraudulent activities are deeply rooted in the ecosystem, However, he agreed that investors lost great deal due to the SEC’s actions in the Ripple lawsuit. When asked about the SEC’s actions l...

Also Read: Ripple To Face Trouble From XRP Holders in Court? Attorney Suggests This advertisement In a recent Congressional hearing, Patrick McHenry, Chair of the House Financial Services Committee, stated that there was clearly no clarity on the regulatory framework when it came to the crypto market. McHenry made the comments while grilling SEC chair Gary Gensler. Relist XRP Demand Over Coinbase Stance On Thursday, Coinbase gave a formal response to an SEC Wells Notice saying the company did not violate securities laws in its United States operations. The SEC had earlier issued a notification saying it was investigating the Earn product, wallet service, and exchange operations. Reacting to this, the exchange’s CEO Brian Armstrong said the company was willing to have a “true dialogue to a workable path forward” for the crypto industry, while stressing that Coinbase was ready to defend its position in court. ...

Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other BRICS Currencies to Take Over After Euro Collapse, Dmitry Medvedev Predicts Russia’s former head of state, Dmitry Medvedev, does not rule out the collapse of the common European currency and a return to national fiats on the Old Continent. “It is absolutely certain that financial shocks in Europe will not keep you waiting,” he was quoted as saying by the RIA Novosti news agency. The euro, already not too resistant to external influences, has started losing its role as a universal means of payment, Medvedev pointed out. Therefore, it is likely that Europe will return back to “the system of financial patchwork with national currencies. Well, then goodbye euro, hello mark, lira, and French fr...

London-based financial giant Barclays reported its Q1 2023 profits on Thursday. The bank reported a net profit of £1.78 billion ($2.2 billion) for the first quarter of this year, with a 27% rise year-on-year. The banking giant beat Reuters’ analyst’s expectations of £1.432 billion (~$1.78 billion) in profits. The bank’s consumer, cards, and payments section generated 47% more revenue on a branch-by-branch basis than its corporate and investment bank division, which saw just a 1% rise. It partially ascribed to the fact that it had acquired the credit card portfolio of retailer Gap. Barclays UK’s revenue increased by 19% as a result of higher net interest income. The bank also reported credit impairment charges of £500 million (~$623 million). The bank claimed that this was caused by increased card balances in the United States. It also attributed the “continuing normalization anticipated in U.S. cards delinquencies.” Businesses write off assets using impairment charges. As its cust...

The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT. Signup Ad Vitalik Buterin posted a message in a subreddit named “Testingtesting62831” claiming that all crypto tokens or projects discussed in this forum are shitcoins. He warned that investing in these projects will probably make investors lose their money and recommends staying away from such forums. advertisement “$BITE and most other coins being discussed on this forum are shitcoins, have no redeeming cultural or moral value, and will probably lose you most of the money you put into them. I anti-endorse these projects to the greatest extent.” The subreddit has most discussions on $BITE and other low-value meme coins. Also, Vitalik has been against these coins and had sold these many times. Typically, small in...

Ethereum core developer Tim Beiko on February 22 announced that the Sepolia Shapella upgrade is scheduled for February 28 at 4 AM UTC. advertisement According to a blog by Ethereum Foundation, the Shapella (Shanghai/Capella) network upgrade will be activated on the Sepolia testnet at block height 56832, which is expected at 04:04:48 UTC on February 28. The upgrade will enable validators to withdraw their Ethereum staked on the Beacon Chain to the execution layer. It will also introduce new functions to both the execution and consensus layers. Full Ethereum staked withdrawal capability will be available with the Shanghai upgrade. The Shapella upgrade introduces changes to the execution layer (Shanghai), consensus layer (Capella), and the Engine API. Ethereum users or ETH holders don’t have to upgrade anything. However, stakers and non-staking node operators are required to upgrade nodes to Ethereum client releases for the Sepolia upgrade. ...