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The BRICS summit came to a fruitful end last week as six new countries were inducted into the alliance. Saudi Arabia, the UAE, Argentina, Iran, Egypt, and Ethiopia are now the new members of the BRICS bloc. The 11-nation group will begin trading in local currencies for cross-border transactions and end its dependency on the U.S. dollar. Right on the heels of the successful BRICS summit, the spotlight now turns on the G20 summit. Also Read: Second BRICS Expansion Soon: South African PM Makes Huge Announcement After BRICS, World Prepares For G20 Summit Source: Getty Images After the BRICS summit in South Africa, the upcoming G20 summit will be held in India’s capital, New Delhi. The G20 summit is scheduled for September 9 and 10, and all heads of state will attend the conference. However, Russia’s President Vladimir Putin confirmed to India’s Prime Minister Narendra Modi that he would attend the summit virtually. Moreover, Russia will be represented by Foreig...

Amid all the changes going on on the platform formerly known as Twitter, speculation has begun to abound regarding digital assets. Subsequently, taking to the platform, Elon Musk reaffirmed that X will never make a crypto token in a recent post. Earlier this month, Musk said the platform would never create a digital asset. Moreover, a developer for the platform recently discussed speculation amid the company’s acquisition of a payment license. In response to the statement affirming that the brand will not spend resources developing a token, Musk replied with a succinct, “Correct.” Source – Fox Business Also Read: Dogecoin to Spike as Elon Musk ’s X Will Adopt Cryptocurrency Payments? Musk Confirms X Won’t Make Crypto Token One of the most popular social media platforms in the world has undergone massive changes recently. The platform that was formerly known as Twitter has experienced a massive rebrand. Subsequently, it coincides with its ...

Sam Altman’s controversial cryptocurrency Worldcoin could affect Kenya ’s monetary policy, the country’s cybersecurity, and increase fraud and scams within the country, the National Computer Cybercrimes Coordinating Committee (NC4) told MPs in parliament yesterday. Fifteen MPs currently make up a committee that’s been established to investigate the ChatGPT founder’s eyeball-scanning crypto project, following its controversial rollout within the country. NC4 director Colonel James Kimuyu told Kenya MPs about the potential impacts Worldcoin could have on the country as part of government scrutiny of the iris-focused cryptocurrency. “National security concerns surrounding a global digital currency like Worldcoin can be significant due to its potential impact on a country’s economic, financial sovereignty,” Kimuyu said (via Nation). “The legality of Worldcoin data collection is under scrutiny.” Alleged Worldcoin whistleblower steps forward, says the...

A U.S. District Court has dismissed a class action lawsuit against Uniswap, one of the world’s top decentralized exchanges (DEXes), stating that the plaintiffs’ claims were “devoid of factual support”, highlighting ambiguities in current crypto regulations. On Aug. 29, a class action lawsuit against Uniswap was dismissed by Judge Katherine Polk Failla, who is also overseeing a case by the U.S. Securities and Exchange Commission against Coinbase. The judge found that some of the allegations against Uniswap lacked factual evidence, rendering them untenable in a court of law. The lawsuit, initiated last year, accused Uniswap, its founder Hayden Adams, and venture capital firms Andreessen Horowitz and Paradigm of contributing to “rampant fraud” on the exchange. Additionally, the suit contended that Uniswap should register with the Financial Industry Regulatory Authority (FINRA) and it was involved in the sale of unregistered securities. Judge over...

A recent UN report reveals hundreds of thousands of vulnerable migrants have been forced to participate in online scams. It confirms allegations made in a previous FBI report. The new report by the United Nations Human Rights Office has exposed the full scale of horrific human rights abuses taking place inside Southeast Asia’s shadowy network of online scam centers. The same centers are responsible for “wide-ranging digital criminal activity such as romance-investment scams, crypto fraud, money laundering and illegal gambling.” Based on interviews with victims and investigations by UN human rights experts, the report reveals that hundreds of thousands of vulnerable migrants, including well-educated professionals, have been trafficked and forced into online criminal enterprises run by transnational crime syndicates across Cambodia, Laos, Myanmar, the Philippines, and other regional hubs. Victims tell harrowing tales of being recruited through elaborate but totally...

CoinGecko publishes a new blog featuring the fastest-growing L2 blockchains. Coinbase’s network Base gains 1 million unique addresses in just 11 days, post-launch. Arbitrum, Optimism, and zkSync are also growing at high speed, recording high volumes of traffic. CoinGecko recently released a report on the fastest-growing Layer 2 blockchains, ranked by the highest number of addresses recorded in the shortest span of time. According to the blog, after Base’s official launch on August 9, the platform attracted 1 million unique addresses in just 11 days. Notably, 532k addresses had joined Coinbase’s L2 network through unofficial bridges. Crypto analytics platform Artemis Terminal noted that daily transactions on Base reached 1.37 million a few days ago, surpassing Ethereum with nearly 1 million transactions. Meanwhile, Arbitrum beat Base and Optimism in terms of the daily number of active users. Second on CoinGecko’s list, Arbitrum took 303 days to gain 1 mill...

ADA bulls push prices from a support level of $0.25 to an intraday high of $0.2681 in the last 24 hours. Technical indicators suggest caution as bullish momentum wanes. Will ADA’s support hold, or will the bulls swoop in to break through resistance? Cardano (ADA) has maintained its strong trend in the previous 24 hours, rising from $0.2599 to $0.2681 before witnessing a modest retreat. A bullish breakthrough over the $0.2681 resistance level might set sights on the $0.2750 resistance level. This breakout might draw additional purchasers, driving up the price of Cardano even more. Consequently, ADA was trading at $0.2612 at press time, up 0.52% from its previous low. ADA’s market capitalization and 24-hour trading volume increased by 0.96% and 15.04%, respectively, to $9,161,041,700 and $162,043,670. This surge reflects the greater interest and activity in the ADA market, which may lead to a favorable market mood and increased purchasing pressur...

Many environmental experts were concerned by Jacobi Asset Management’s decision to add an ESG label to its Bitcoin ETF. Martin Bednall, Chief Executive of Jacobi, told investors that the ETF will be fully decarbonized. Jacobi will support renewable energy initiatives to make up for the greenhouse gas emissions brought on by Bitcoin mining. Jacobi Asset Management has attached an ESG (Environmental, Social, and Governance) label to its Bitcoin exchange-traded fund (ETF), a decision that concerned many environmental experts. Jacobi Asset Management, the European ETF issuer, is specialized in providing institutional investors with digital asset management. The company said its Jacobi FT Wilshire Bitcoin ETF is an Article 8 fund, which is a fund that promotes ESG according to EU regulations. Bloomberg reported that the Article 8 fund category covers about $6 trillion in assets. This is the first time the EU’s ESG investing rules have been applied to an E...

The deputy governor of the Spanish national central bank, Margarita Delgado, has spoken about the future of the digital euro and how private payment solutions will interact with it. Speaking in line with the recently proposed digital euro legislative plan, Delgado reveals that it is expected that the digital euro will help the private sector’s development of pan-European payment and financial services.  She believes these developments will make the continent’s financial system easier to compete with non-European solutions. Central bank digital currencies (CBDCs) are becoming increasingly popular. Currently, about 130 countries are exploring the implementation of CBDCs. However, CBDCs often leave regulators watchful as they try to avoid mishaps and allow utilization simultaneously. This has proven a tricky balance to create. While the U.S. congressman Warren Davidson voices concern about CBDCs, demanding that they be banned and criminalized, Governor Margarita envisions that...

Ben Armstrong identified XRP, LINK, and DOGE as his top picks for the next bull market. Armstrong was especially bullish on XRP after its lawsuit and DOGE with its potential integration into X. All three of these altcoins saw their prices decline over the past 24 hours of trading. Yesterday, the Twitter page Whale shared that Ripple (XRP), Dogecoin (DOGE), and Chainlink (LINK) are the best cryptocurrencies to accumulate, according to prominent analyst Ben Armstrong. In one of his latest videos, Armstrong stated that XRP is a no-brainer choice for accumulation. Ben Armstrong aka “BitBoy Crypto says $XRP, $DOGE, and $LINK are his top 3 altcoins to accumulate this bear market. Do you agree? — Whale (@WhaleChart) August 27, 2023 The analyst is also of the opinion that the effects of XRP’s lawsuit have largely subsided and anticipates a strong performance for the remittance token in the upcoming bull market. Armstrong also proposed that in the event XRP...

Judge Analisa Torres will likely reject the U.S. Securities and Exchange Commission’s (SEC) interlocutory appeal , according to attorney John Deaton. Speaking at the first annual onXDC Live blockchain conference held in Texas, Deaton — founder of Crypto-Law.us and managing partner of the Deaton Law Firm — claimed the SEC had not actually appealed against the ruling that favored Ripple’s XRP. According to Deaton, Torres, who ruled that XRP is not a security if sold on secondary markets, has only allowed the regulator to file a motion for an interlocutory appeal . He further added that there was a likelihood the judge would deny the SEC’s motion, forcing the regulator to file a complete appeal, which won’t happen until late 2024 at the earliest, after the main case has been dispensed with. I predict she denies it, and then when she denies it, they have to wait for a full appeal , which, after the case, would be sometime in late 2024, which would take another 1...

XRP’s prominence soars as many countries look to ditch the U.S. dollar.   Many member states of the BRICS now view the token as a viable payment option.  Ripple says it is in talks with many countries who want to utilize its ledger for their CBDCs. XRP, the fifth-largest cryptocurrency in the world, has seen renewed interest following the BRICS nations’ decision to ditch the US dollar for alternative payment systems. Crypto analyst A Chain of Blocks made this revelation in a YouTube video while discussing the recent activities of the BRICS nations.  According to the analyst, the BRICS nations, a group of countries formed to challenge the G7 nations, have reportedly taken advantage of the weakened U.S. economy. He continued that the dire economic conditions of the U.S. have driven the group’s popularity, with more countries now asking to join. As at the group’s last summit, over 20 countries, including Saudi Arabia and the U.A.E, have shown int...

Investors in the United States are willing to follow AI advice when making financial decisions. A recent survey conducted by the Certified Financial Planner Board of Standards pointed out that 31% of investors were ready to follow what AI advises without cross-checking it. Specifically, the report’s findings noted, “1 in 3 investors report feeling comfortable implementing financial planning advice from a generative AI-powered tool without verifying it with another source.” The comfort level increased from 31% to 52% after AI prompts were verified by financial advisors. On both fronts, the trust that users had with respect to AI investment advice was greater than the advice received from social media. Source: CFP Board Also Read: Banks Raise Nvidia Target Upto $1100: AI Crypto, Mining Stocks Rally AI and Crypto The CFP Board’s survey and its results were pertinent to the broader investment spectrum. Nevertheless, when it comes to crypto as well, AI ...

Luganodes is a staking-as-a-service provider that claims to be a “prodigy of Lugano Plan B, an initiative driven by Lugano and Tether.” According to PoolBay, Luganodes receives about 4% of the total staking rewards for Tron. Luganodes also stakes on a variety of other chains, including Ethereum, Polygon, Solana, and others. The commercial register for Canton Ticino reveals that the single member associated with this firm is Davide Rovelli. Rovelli lists on LinkedIn that he leads the Special Projects Services for both Bitfinex and Tether, an initiative that neither company has mentioned publicly.  He is also listed as the founder of AltKey SA, the company behind Plan B; a “joint initiative between the city of Lugano and Tether to accelerate the use of…bitcoin technology.” Among the Plan B initiatives is a “100M+ Swiss Franc investment pool” that was funded by Tether . Thanks to the team’s efforts, McDonald’s in Lugano now accept...

Three Attorneys For US SEC Withdraw from XRP Lawsuit CoinGape Media earlier reported that the US SEC filed a motion for the withdrawal of its attorney Pascale Guerrier from the SEC v. Ripple lawsuit. Judge Analisa Torres has granted the motion for Pascale Guerrier to withdraw as attorney for the SEC, as per a court filing. advertisement According to the latest filings with the court, two more attorneys for the SEC have filed separate motions to withdraw from the lawsuit. The Securities and Exchange Commission informed the court about the withdrawals of attorneys Richard Best and Robert MacDonald Moye from the lawsuit. Richard Best is on extended medical leave and no longer participates in the US SEC v. Ripple lawsuit. Judge Torres approved Best’s removal from the lawsuit. However, the judge has yet to grant the motion for the withdrawal of Robert MacDonald Moye. Meanwhile, Judge Torres signed orders approving attorney Michael A. Schulman for Brad Garlin...

Shibburn has launched another venture, Shib Association, within the Shiba Inu ecosystem. Shib Association, would focus solely on bringing utility and innovation to SHIB. The new venture will include people who share the same ideas and want to work together. Shibburn, the SHIB burn tracking organization, has announced the launch of another venture within the Shiba Inu ecosystem. The new venture, Shib Association, would focus solely on SHIB, bringing utility and innovation to the renowned meme coin. Shibburn announced via a recent post on Twitter, asking interested users to join the organization by following its Twitter handle, @ShibAssociation. The SHIB tracker informed users of his past efforts within the SHIB community, noting some challenges faced with running the project. According to Shibburn, things have not turned out as expected, despite their efforts at providing information about SHIB burns to help the community. The organization’s representative...

On Tuesday, August 22, the token experienced a decrease of up to 3.6%, reaching $203.59, which contributes to its total year-to-date loss of approximately 15%. This decline has occurred despite the significant surge of the crypto benchmark, Bitcoin, which has advanced by over 50% since December and represents roughly half of the market’s $1 trillion valuation. Presently, BNB holds a market capitalization of about $32 billion, positioning it as the fourth-largest cryptocurrency asset. advertisement Crypto exchange binance offers trading fee discounts to BNB holders and they can later use the tokens to settle fees on the BNB Smart Chain. Recently, crypto exchange binance has been having a very tough time dealing with regulators and its channel partners. Amid all the regulatory allegations, Checkout.com was the latest to stop servicing Binance as a payment service provider. US DoJ – Binance Violating Russia Sanctions After the US sanctions on ...