China News Daily Official TheBitTimes.com

An alleged €100 million ($114.4 million) funding scheme from Russia targeting Moldova’s elections has put crypto forensics experts on high alert. In what President Maia Sandu described as an election interference campaign by Russia using crypto payments, she claimed yesterday that €100 million worth of digital assets will fund electoral corruption and vote-buying schemes, in addition to untold sums of fiat and labor for additional propaganda.  Moldovan parliamentary elections commence on September 28.  Crypto-funded political interference would be part of a multi-pronged strategy to install Moscow loyalists, she claimed.  The Kremlin has denied any plans to interfere in the September elections and Sandu provided no direct evidence in her speech. Frustratingly, Moldova and Russia have published conflicting histories on many past occurrences. For example, Moldova accused Russia of interfering in its presidential election as well as an EU referendum last year...

The US dollar is once again in the news, primarily because it continues to fuel speculation about whether it will be able to keep up with the current multipolar world order. As the majority of countries vow to promote their local currencies, the US dollar is now standing at a very precarious threshold. In addition to this, at the recent BRICS summit, a mockup banknote of the special BRICS currency was introduced to Vladimir Putin, sparking debates on whether the end of the dollar is truly near. Also Read: Microsoft Shareholders to Vote on Bitcoin Investment Despite Board’s Warning A New Challenge To The US Dollar Emerges Image Source: Watcher Guru The recent BRICS Summit, held in Kazan, Russia, was the epitome of power and prestige. With all leading global leaders sitting at the grand round table discussing world politics, the development exuded power at its best. Amid it, a new contender challenging the US dollar also made its first official appearance. The BRICS banknote, dubbed the ...

The former Prime Minister of Russia Sergey Stepashin who briefly served in 1999 opened up about the prospects of a BRICS currency. He commended the de-dollarization initiative in a historical move from the alliance to cut ties with the US dollar. The initiative is briefly successful as both China and Russia have settled trade in local currencies with a handful of developing countries. Even India initiated oil deals with its BRICS counterparts Russia and the UAE paying native currencies for settlements. Also Read: BRICS: Russia To Officially Use Cryptocurrency For Trade Settlements There have been reports of the BRICS alliance planning to launch a new currency to take on the US dollar. If the currency is launched and gains the trust of developing countries, the US dollar will be in jeopardy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS: Payments in Chinese Yuan Surpasses the US Dollar by 2.5% BRICS Currency: Russia...

BRICS is looking to dominate the food and crops sector and reduce the US dollar’s hegemony for trade settlements. Russia recently proposed a plan to allow countries to settle trade in local currencies for grain exports. The plan termed ‘grain exchange’ allows import and export companies to buy grain directly from farm producers and firms. The exchange could be initiated in local currencies sidelining the US dollar. However, BRICS has now gone a step further and plans to use the same mechanism for fish exports, where local currencies will be the primary mode of payment and not the US dollar. Also Read: 10 SCO Countries Ready To Ditch US Dollar For Trade BRICS member China is the second biggest exporter of fish in the world exporting $10.40 billion worth of seafood. Its counterpart, India also exports nearly 17% of its fish and seafood products around the globe. The total worth of India’s Fish Exports stands close to $4.6 billion a year. Russia is looking to mon...

BRICS is advancing in its de-dollarization quest by convincing developing countries to ditch the US dollar for all global transactions. Now that four new countries have joined the bloc, the alliance has received a boost in the arm of its de-dollarization agenda. The new members are also keen on the formation of a BRICS currency to bring the US dollar down. Also Read: BRICS Pays $4,000,000,000 in Local Currency, Sidelines US Dollar Amid the de-dollarization process, two countries have openly expressed that they will begin using BRICS currency to settle trade and not the US dollar after the launch of the tender. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. Russia & Iran To Settle Trade in BRICS Currency After Its Launch, Ditch US Dollar Source: Financial Tribune BRICS members Russia and Iran made it clear that they would start using BRICS currency the same day of its launch and ditch the US dollar for trade. B...

Also Read: FTX News: Bloomberg, FT, NYT Appeal Court Decision To Redact Customer Names advertisement Ongoing developments in Russia indicate to a possible feud between Yevgeny Prigozhin, the head of the Wagner Group, and the country’s president Vladimir Putin. The president warned of ‘crushing’ the group’s attempted coup, which involves marching from southern Russia towards Moscow. Russia Civil War & The Impact On Crypto Given that Russia is one of the major supplier of oil, gas and other raw materials to many countries, prospects of a full blown civil war could mean massive impact on global markets. Hence, any dip in stock prices on Monday could potentially mean upside to the Bitcoin price and the altcoins. However, the Crypto Market could take longer to react to the situation, as traders are likely to prefer Bitcoin as safer asset in the wake of global uncertainty. Also, it remains to be seen how long the situation takes t...