DeFI News by Thebittimes.Com

BRICS member China has pressed the accelerator on de-dollarization as lending in the Chinese yuan surges. China’s push for the yuan is working as trade and investments are moving away from the US dollar-based system and are entering into a multipolar world. The country’s exposure to the US dollar is declining as businesses are considering the yuan. The latest data from the Financial Times shows that deposits and bond investments by Chinese banks quadrupled to Rmb3.4tn ($480 billion) in five years. The development shows that the US dollar is no longer the central figure of trade and commerce. The BRICS de-dollarization agenda is working, despite its scale being smaller, while Chinese yuan settlements have doubled. Also Read: BRICS Speeds Up Dollar Selling, Chinese Firms Offload $51.8 Billion Source: SWIFT, Wind Exporters and importers in China are now using the Chinese yuan in settlements, the highest since December 2020. The move supports the BRICS de-dollarization agenda an...

Morgan Stanley’s US dollar forecast is actually showing some pretty concerning signs for 2025 and beyond, with analysts predicting the greenback could lose up to 9% of its value over the next twelve months. Right now, this Morgan Stanley US dollar forecast suggests the currency might drop to levels we haven’t seen since the Covid-19 pandemic hit. The latest Morgan Stanley US dollar forecast points to turbulence ahead, but the bank isn’t calling for a complete collapse of the dollar’s dominance. Also Read: 3 MAGA Moves That Could Save the US Dollar’s Future Why Morgan Stanley Is Bearish And What It Means For The Dollar Source: Watcher.Guru Rate Cuts Are Being Expected to Drive Dollar Weakness Morgan Stanley is bearish on the US dollar mainly because of what the Federal Reserve is expected to do with interest rates. The bank thinks we’re going to see around 175 basis points of rate cuts. That typically makes currencies weaker since investors can’t earn ...

BRICS is beating the drum of a US dollar decline even before launching a common currency in the global markets. The operating style is typical of that of any developing country where leaders talk big but deliver nothing. It also reflects the mindset of emerging economies where a simple piece of governmental work is lauded as ‘major achievement’. Even the BRICS de-dollarization agenda falls under the same category which is heavily exaggerated to the brim by their leaders. Also Read: BRICS Inspires 15 Countries To Use Homegrown Payment System Rewriting trade deals and forging new partnerships is a daily yet regular phenomenon in the global financial world. That’s not the case for BRICS members, as each trade deal is shown as a brownie point to their people marketed as de-dollarization. While we agree that BRICS settled many deals in local currencies, the number is minuscule compared to the global trade volume. It is as good as making a mountain out of a molehill, which l...

The United States took decisive action this week, announcing new 10% baseline tariffs on what President Donald Trump announced as the nation’s Liberation Day.’ Now, UK Prime Minister Keir Starmer is reportedly seeking a new US trade deal to remove the tariffs, according to a Washington Post report. The announcement of new import taxes created a race to negotiate with the United States. Indeed, the economic policy saw Israel and India move swiftly to shift their duties on US goods in hopes of avoiding the reciprocal tariffs. Now, Starmer is looking to reduce tariffs placed on Britain through a new deal with the Trump administration. JUST IN: UK Prime Minister Keir Starmer seeks new trade deal with the United States to remove tariffs. — Watcher.Guru (@WatcherGuru) April 4, 2025 Also Read: 3 Key Takeaways From Trump’s Liberation Day Tariffs UK Prime Minister Keir Starmer Eyes New US Trade Deal Amid Trump’s Liberation Day Tariffs The United States made headlines this week...

Shiba Inu saw a breakout on Wednesday as the markets skyrocketed , reaching new monthly highs. These small price breakouts occurred a handful of times this year but failed to carry the price momentum forward. For 10 months straight, SHIB has not rallied in the indices in 2022 and has traded at a disadvantage for three-consecutive quarters. The token might repeat the feat in Q4 of 2022, as the global economy is affected by various macroeconomic factors . Also Read: If You Invested $1,000 in Shiba Inu in 2020, How Much Would it Be Worth Now? More Pain Expected For Shiba Inu Investors? Source: Pixabay For those of you who missed watching the charts, Shiba Inu added a zero for a brief period on Tuesday. SHIB slipped to $0.00000974 this week but recovered an hour later, losing the zero it added. While the quick recovery is commendable, this may spell danger to the dog-themed token. Source: CoinGecko.com The global economy is in unfavorable conditions, and several analysts have...

According to Dappradar’s latest crypto industry report that covers 2022’s third quarter, the crypto economy and its participants are “riding out the bear market.” However, these days a number of macroeconomic events have influenced the crypto market, and Dappradar researchers say it’s currently “impossible to foresee a worldwide expansion of cryptocurrencies without a general recovery in conventional financial markets.” Dappradar Report Highlights Crypto Economy’s Slow but Steady Recovery The crypto industry is still dealing with the crypto winter and the latest report from Dappradar indicates that markets and participants are trucking through the storm. For instance, following the Terra collapse, the decentralized finance (defi) and decentralized app (dapp) industry has consolidated after taking heavy losses. Dappradar’s report shows that bitcoin (BTC) and ethereum (ETH) have remained roughly around the same price sin...