• Wealthcamp
  • Posts
  • Crypto Takes Center Stage at BRICS Summit - Will BRICS Rule the New Economy?

Crypto Takes Center Stage at BRICS Summit - Will BRICS Rule the New Economy?

Author

Austin Hodge
October 24, 2024 • Read Time: 9 minutes

Crypto is stealing the spotlight at the BRICS Summit, as member countries rally to sidestep the U.S. dollar's grip on international finance. With Russia leading the charge, the focus shifts to alternative solutions like cryptocurrency, potentially setting the stage for a financial shift of seismic proportions. As BRICS explores pathways like the m-Bridge initiative to lessen dollar dependence, the world watches closely.

Let's dive in!

  • BRICS nations consider cryptocurrency as part of efforts to diminish U.S. dollar reliance, with Russia spearheading initiatives like m-Bridge. — Read More

  • Uniswap's cross-chain bridge is now live, allowing seamless transactions across nine networks using Across Protocol. — Read More

  • Ripple's Brad Garlinghouse, citing his crypto ties, reveals Citigroup ended a 25-year banking relationship. — Read More

  • Tokenizing U.S. Treasuries enhances liquidity and reduces risk in crypto markets, blending traditional finance with DeFi innovation. — Read More

  • Russia promotes new precious metals platform to redefine BRICS trade dynamics. — Read More

  • Mbridge digital currency poses serious challenges to US Dollar's global supremacy. — Read More

  • Vietnam announces plans to dominate the blockchain sector in Asia by 2030, boosting infrastructure, legal framework, and digital asset usage. — Read More

  • FATF's potential Russia blacklist threatens chaos for crypto exchanges, experts argue the likelihood is slim. — Read More

  • Base to implement Optimism's fault-proof system to enhance decentralization through community participation. — Read More

  • Apillon unveils embedded wallets to simplify Web3 logins with familiar credentials. — Read More

  • Denmark plans a tax reform to impose a 42% tax on unrealized crypto gains by 2026. — Read More

  • Hong Kong eyes leadership in digital finance through CBDCs and crypto trading licenses, aiming to enhance its financial systems. — Read More

Crypto Academics Critique ECB's Anti-Bitcoin Paper

Crypto proponents rebuff ECB's Bitcoin critique, citing flawed methodologies and biases.

Whales' Bitcoin Accumulation Spurs Market Buzz

Bitcoin's $581 million outflow from exchanges highlights renewed whale accumulation, bouncing the price back above $67,000.

Saylor Backs Bitcoin Self-Custody Amid Criticism

Michael Saylor advocates for varied Bitcoin custody options, faces backlash from crypto community leaders.

Bitcoin Miners Fund $2M Pro-Crypto PAC Campaign

Major U.S. Bitcoin miners launch $2M campaign backing pro-crypto political candidates.

Stablecoin Dominance and Bitcoin Growth in Europe

Stablecoins capture nearly half CNWE's crypto inflows, Bitcoin lags behind, while merchant services expand.

Ethereum Faces Hurdles After Recovery Attempt

Ethereum price struggles to break above $2,550 amid short-term corrections.

Ethereum Prices Slide Amid Investor Doubts

ETH drops over 5%, with price down 7% since October high, amidst sustained bearish sentiment.

Ledn Hits $1.67B in Loans with Celsius Success and Institutional Demand

Ledn processes $1.67 billion in loans, fueled by Celsius refinancing success and institutional digital asset lending.

Solana Soars Amid Memecoin Mania and Record Gains

Solana outperformed Ethereum and Bitcoin thanks to the AI-led memecoin frenzy, surging open interest, and increased network revenues.

El Dorado CEO Highlights Stablecoins in Venezuela

Stablecoins emerge as a resilience tool in Venezuela, asserts El Dorado CEO.

Ripple CEO Predicts Inevitable XRP ETFs After Bitcoin, Ethereum Approvals

Ripple CEO Brad Garlinghouse foresees SEC approval of XRP ETFs despite legal battles, citing precedents with Bitcoin and Ethereum.

Visa and PayPal Execs Advocate for Stablecoin Revolution in Global Payments

Visa and PayPal execs argue that stablecoins are key for modernizing global payment systems, cutting costs and speeding up transactions.

Can TRON Hit New Heights Amid Revenue Surge?

TRON's Q3 performance reports a 29% revenue jump to $151.2 million and a possible TRX price peak.

Cosmos, Beam, and TRON Defy Market Slump with Surges

While crypto market cap drops, Layer 1 tokens Cosmos, Beam, and TRON show surprising gains.

RWA Tokenization Boom

RWA tokenization is revolutionizing unique markets including air rights, LEGOs, and tree plantations, predicted to surge 50-fold by 2030.

Mantra Blockchain Launches Mainnet for Tokenizing Real-World Assets

Mantra's mainnet launch aims to bring real-world assets on-chain with enhanced security.

Chainlink partners with financial giants to create a blockchain-based corporate data 'golden record', using AI and decentralized oracles.

Immutable X Faces Key Support Level Amid Market Trends

Immutable X's price approaches key support with 20% upside potential, fueled by NFT and blockchain gaming interest.

Nansen Predicts $301.5B GameFi Growth by 2030

Nansen reports Web3 GameFi could hit $301.5B by 2030, boosted by decentralization, RPGs, and AAA games.

Tomarket Announces Airdrop as Telegram Game Reaches 40M Players

Tomarket reveals airdrop details as player count surpasses 40 million, with TOMA token set to launch on October 31.

BEAM Price Surge Faces Resistance

BEAM price surges 32% from October low, struggles to overcome previous highs in potential bullish continuation.

Prosecutors Defend Nishad Singh's Role in FTX Probe

Prosecutors commend Nishad Singh's vital cooperation in the FTX investigation, citing substantial assistance.

Senator Sees BRICS as Unexpected Ally for USD

Senator argues BRICS abandoning US dollar may increase its global power.

UK Set to Enforce Stablecoin Rules Soon

UK prepares to introduce stablecoin regulations in coming months, prompted by Circle's global policy chief Disparte's remarks.

Seoul Equips ASEAN to Combat North Korean Crypto Theft

South Korea trains ASEAN nations to counter North Korea's alleged crypto hacking activities, bolstering cyber defense and protecting financial assets.

Japan Hesitates on Crypto ETFs Amid Tax Concerns

Japan's stringent tax policies and regulatory hurdles stall crypto ETF approvals, unlike the US and Hong Kong's progressive steps.