DeFI News by Thebittimes.Com

Ace investor Warren Buffett announced his retirement at the age of 94 during Berkshire Hathaway’s 60th annual shareholders summit on Saturday and joined the de-dollarization bandwagon issuing a stark warning by bluntly saying that the U.S. dollar is a currency that’s “going to hell” . Warren Buffett’s statements coincide with the developing countries who are looking to sideline the U.S. dollar through the de-dollarization initiative. “We would not really invest in a currency that’s going to hell,” he said at the 60th annual shareholders summit. Also Read: De-Dollarization: Goldman Sachs Says These 3 Asian Currencies Could Take Over De-Dollarization: Warren Buffett Considers Investing in Foreign Currencies Next, Not the U.S. Dollar Source: Investopedia / Getty Images The 94-year-old Warren Buffett hinted that Berkshire Hathaway would consider investing in foreign currencies and not the U.S. dollar for better prospects, mimicking the de-dollarization trend. “There could be things happen...

The BRICS alliance is worried that President-elect Donald Trump could impose a 100% tariff on semiconductor supplies entering the US. Trump recently warned the alliance of dire consequences if they move away from the US dollar for trade and transactions. The 47th President wants the US dollar to remain supreme and not fall prey to the ongoing global de-dollarization agenda. Also Read: BRICS: Global US Dollar Payments Fall Below 50% The latest report shows that Trump plans to impose a 100% tariff on semiconductor supplies making its way to the US if BRICS does not abandon the de-dollarization initiative. The new BRICS ‘partner country’ Malaysia stated that Trump is eyeing the semiconductors supplies to take on the alliance. Read here to know the sectors that will be affected if BRICS ditches the US dollar for trade. Also Read: Top Economist Predicts the Future of BRICS Currency BRICS: Trump to Weaponize Semiconductor Supplies? Source: Getty Images Malaysian Trade & Industry M...

Former President Donald Trump on the ballot in November against Kamala Harris spoke about the BRICS de-dollarization agenda. Trump minced no words during the economic forum saying that countries that stop using the US dollar for trade will face severe consequences. Also Read: BRICS Settle 65% Trade in Local Currencies & Not the US Dollar JUST IN: Donald Trump says he will put 100% tariffs on countries abandoning the US dollar as world reserve currency. pic.twitter.com/kDKcyiLPos — Watcher.Guru (@WatcherGuru) October 15, 2024 The consequences include facing a 100% tariff on all goods that enter the US. The move will force the BRICS alliance to abandon the de-dollarization prospects and use the US dollar for payments as that’s the cheaper offer. Ending reliance on the US dollar would add a 100% tariff that would prove to be a costly method to do business. Also Read: BRICS Advances ‘Multicurrency System’ To Break US Dollar Dominance “If a country tells me, Sir we like yo...

BRICS member China thinks it is spearheading the de-dollarization campaign by convincing developing countries to ditch the US dollar and trade in local currencies. While a handful of emerging economies have agreed to China’s demands, they are only acting out of self-interest. China is under the illusion that it has kick-started the de-dollarization agenda while in reality, developing countries are only seeing what benefits them. Not just other emerging economies, even BRICS members are using China when it suits them the best. Also Read: BRICS No Longer Attaching Importance to the US Dollar For instance, BRICS counterpart India agreed to end dependency on the US dollar and settle trade in local currencies. For over a year, India paid the Chinese yuan to procure oil from Russia at a discounted price due to the sanctions. India saved $7 billion by paying local currencies between 2022 to early 2024. However, both Russia and China kept demanding India pay the Chinese yuan or the Russia...

The cryptocurrency market remains volatile, heavily influenced by broader economic factors. Recent U.S. job growth data exceeded expectations, indicating the economy is coping well with higher interest rates.  This reduces the likelihood of rate cuts, which impacts the flow of money into riskier investments like cryptocurrencies. A crypto trader has made quite a fortune on meme coins following the decline and rebound of the wider market.  Picks for you ChatGPT-4o predicts Bitcoin price ahead of June's FOMC meeting 24 mins ago Breakout watch: Cardano key support and resistance levels for this week 2 hours ago Here's BTC's supp...

A guilty verdict has been reached in the long-awaited Hush Money trial, with former U.S. President Donald Trump found guilty on all 34 felony counts by a unanimous decision from 12 jurors in New York, with sentencing set for July 11.  However, for one crypto trader, there is a silver lining in this verdict, as he managed to earn over $167,000 with well-placed trades involving Trump-related tokens, FreeTrump (FREE), and Never Surrender (TRUMP) created shortly after the guilty verdict was reached. How did the trade unfold? Using a strategic approach, the trader capitalized on the volatility of Trump-themed tokens, specifically FreeTrump and Never Surrender.  In just five hours, the cryptocurrency trader converted them into approximately 972 Solana (SOL) tokens, equivalent to $167,000. Picks for you Beware of celebrity tokens : C...

BTC's correction reveals a disconnect between pro traders' confidence and retail investors' skepticism amid regulatory shifts. Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but faced formidable resistance at the price level. On Nov. 27, Bitcoin price traded below $37,000, which is unchanged from a week ago.  What is eye catching is the unwavering strength of BTC derivatives, which signals that bulls remain steadfast with their intentions. An intriguing development is unfolding in China as Tether (USDT) trades below its fair value in the local currency, the Yuan. This discrepancy often arises due to differing expectations between professional traders engaged in derivatives and retail clients involved in the spot market. How have regulations impacted Bitcoin derivatives? To gauge the exposure of whales and arbitrage desks using Bitcoin derivatives, one must assess BTC options volume. By examining the put (sell) and call (buy) options, we can estimate the prevailing bullis...

Demand for leverage buying remains absent in ETH despite the recent bounce to $1,200 as the U.S. Federal Reserve continues to hike interest rates. Ether (ETH) gained 5.6% on Dec. 20 after testing the $1,150 support the previous day. Still, a bearish trend prevails, forming a three-week-long descending channel, a price action attributed to expectations of further U.S. Federal Reserve interest rate hikes. Ether/USD price index, 12-hour. Source: TradingView Jim Bianco, head of institutional research firm Bianco Research, said on Dec. 20 that the Fed will keep the economy tightening in 2023. Later that day, Japan’s central bank increased interest rates to fight inflation, far later than its counterparties. The unexpected move made analysts more bearish toward risk assets, including cryptocurrencies. Ethereum might have caught some tailwind after the global payment processor Visa proposed a solution to allow automatic funding from Ethereum wallets. Auto-payments for recurring bills aren’t ...