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China-Russia cooperation is helping to stabilize the region and avert a global crisis, according to Zhang Hong, a research fellow at the Chinese Academy of Social Sciences. Zhang emphasized that as permanent members of the UN Security Council, China and Russia are working together to uphold global peace and security through strong mutual trust and … Read more
The use of national and alternative currencies in Russia-India trade has reached nearly 90%, according to Russian First Deputy Prime Minister Denis Manturov. Speaking at a Russian-Indian intergovernmental commission meeting, Manturov emphasized the importance of expanding banking cooperation between the two countries. Trade turnover between Russia and India rose 9% in the first eight months … Read more
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), launched in January, has now surpassed the Ishares Gold Trust (IAU) in assets under management (AUM). According to Factset, IBIT reached approximately $34.3 billion on Friday, overtaking IAU’s nearly $33 billion. This milestone follows President-elect Donald Trump’s victory, with Trump openly supporting cryptocurrency during … Read more
Russia’s central bank reported a record high of $207.7 billion in gold reserves for October. Gold’s share in Russia’s total international reserves rose from 31.5% in September to 32.9%, the highest level since November 1999, when it reached 34%. Historically, the gold proportion peaked at 56.9% on Jan. 1, 1993, and dropped to a low … Read more
A Danvers, Massachusetts man, Trung Nguyen, was convicted of money laundering and operating an unlicensed cryptocurrency business that converted over $1 million in cash to bitcoin. Through his company, National Vending, Nguyen ran a “no questions asked” cash-to-bitcoin service from 2017 to 2020, knowingly processing funds for criminals, including a meth dealer and romance scam … Read more
A Pennsylvania State Police unit is advising the public of a new bitcoin scam targeting vulnerable individuals, particularly seniors. Scammers contact them through email, phone, or other electronic means, claiming there’s a fraudulent activity involving their personal information. Posing as representatives of the victim’s financial institution, these scammers then direct victims to contact a supposed … Read more
The California Department of Financial Protection and Innovation (DFPI) has revoked Blockfi Lending LLC’s finance lending license for violations under California’s Financing Law (CFL). Blockfi agreed to the revocation and to halt certain practices deemed harmful, following an examination that revealed the company failed to assess borrowers’ repayment ability, charged interest before disbursement, neglected to … Read more
The U.S. Department of Justice (DOJ) has launched a website to gather information from individuals affected by the 2016 Bitfinex hack, where approximately 120,000 BTC were stolen. The site provides a platform for potential victims to assert their rights under the Crime Victims’ Rights Act (CVRA) and submit statements detailing their losses. In 2016, defendant … Read more
Grayscale Investments has announced plans for reverse share splits for its Grayscale Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale Ethereum Mini Trust ETF (Ticker: ETH). Effective at 5:00 pm ET on Nov. 19, the BTC fund will undergo a 1-for-5 split, while the ETH fund will undergo a 1-for-10 split. These adjustments are intended … Read more
Germany’s economic troubles deepen as the ruling coalition disintegrates, exacerbating issues like shrinking investment and consumer confidence. Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner, signaling a potential snap election. Germany’s economy, already struggling with high energy costs and lagging EU growth since 2018, is expected to contract for a second consecutive year, making it … Read more
