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The 16th BRICS summit took place in the Kazan region of Russia this week with the participation of 40 countries in the event. The summit saw major changes with new policies, announcements, and trade deals taking place. The mock-up of a BRICS currency was gifted to Russian President Vladimir Putin indicating that the alliance is aiming to challenge the US dollar. If the new BRICS currency becomes a reality, several major sectors in the US will be severely affected. Also Read: Goldman Sachs Predicts the Future of BRICS Currency JUST IN: Russian President Putin has been gifted a mock-up of a "BRICS bill" at BRICS summit in Kazan. pic.twitter.com/gP08KKkRUy — BRICS News (@BRICSinfo) October 23, 2024 The bloc wants to use the new common currency or local currencies for trade and completely ditch the US dollar. In this article, we will highlight the top 3 major US sectors that will be severely affected if BRICS ditches the dollar for trade. Also Read: The Gloves Are Off: BRICS Is O...

After BRICS, a new alliance has kick-started the de-dollarization process and is using local currencies for trade and not the US dollar. The Commonwealth of Independent States (CIS), which consists of 12 countries, has settled 85% of cross-border transactions in national currencies. The CIS bloc, barely used the US dollar for trade settlements this year ushering into a new financial landscape. Also Read: BRICS Make De-Dollarization New Member Entry Rule The development is adding pressure on the US dollar as both BRICS and CIS are indulging in de-dollarization initiatives. The CIS consists of 12 countries including Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. Also Read: BRICS: 4 Reasons Ditching the Petrodollar Could Doom the US BRICS: CIS Alliance Consisting of 12 Countries Ditch the US Dollar, Use Local Currencies For 85% Transactions Source: Presidential Press Service BRICS member Russia convinced t...

Although the cryptocurrency market can often be volatile, it can also be a highly lucrative playing field for investors who know how to carefully time their trades right, as one professional crypto trader demonstrated by taking a profit of over 12,000% on one particular meme coin. Specifically, the pseudonymous crypto market expert CoinsKid revealed that he had taken massive profit on one of his top meme coin picks – Bonk (BONK), which “pumped over 12,000% for us from our 2023 entry point,” according to his X post published on June 10. Furthermore, the crypto analyst reminded his followers that he had posted twice about the Bonk meme coin in 2023 and announced he was now waiting for another optimal entry point, which he believes could occur “at the green line if we see a breakdown of the rising wedge” chart pattern. Picks for you H...