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Saudi Arabia and China sign 57 deals worth over $3.73 Billion USD just recently, and the agreements mark a major advancement in local currency cooperation and also de-dollarization efforts between the nations. The deals, which were signed at the Saudi-Chinese Business Forum in Beijing this month, are enhancing BRICS-aligned trade and also promoting currency substitution between these economic giants right now in 2025. Also Read: BlackRock Bitcoin ETF Soars as Abu Dhabi and Hong Kong Investors Pump Over $1 Billion Saudi-China $3.73B Agreements Boost Trade, Finance, Currency Use Source: Watcher Guru As Saudi Arabia and China sign 57 deals worth over $3.73 billion USD, at the same time institutional cryptocurrency market activity has also increased significantly. The BlackRock ETF inflows at the time of writing reflect growing confidence among major investors who are seeking alternative asset classes in today’s changing financial landscape. Strengthening Bilateral Economic Ties In at...

The global economy has struggled to make any significant movements upward in recent weeks. Whether the cryptocurrency or stock market, the US has succumbed to increased geopolitical tension and economic frailty. However, that hasn’t stopped Bitcoin from potentially targeting $90,000 in Q2, with one factor looking to push the leading crypto upward. The asset has underwhelmed in a big way throughout the first three months of the year. Indeed, it has been unable to recreate the six-figure increase that took place in late 2024, with the token continuously failing to break through the $85,000 mark in any notable way. That could be set to change in Q2 if these experts are correct. Source: Watcher Guru Also Read: Binance Says Multiple Governments are Eyeing Their Own Crypto Reserves Bitcoin Eyeing Major Turnaround? Here’s Why Experts Expect It to Jump There is no denying that the global market has seen an increased focus put on the digital asset sector. The industry has become a ke...

China is doing everything possible to advance the de-dollarization agenda and dim the lights on the US economy. BRICS members China and Russia recently sidelined the US dollar to settle oil and gas payments in 2025. The development adds pressure on the US economy as developing nations are using new modes of payment and not the dollar. Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Reducing dependency on the US dollar will lead to the currency facing deficits and bring inflation into the homeland. The USD needs to maintain its demand and supply mechanism in the forex markets and failing to do so can bring its doom. Also Read: What Are the Advantages of a BRICS Currency? BRICS: China & Russia Settle Oil Trade in New Currency Source: Reuters Trillion-dollar asset management firm VanEck recently confirmed that BRICS members China and Russia have settled oil payment...

Over $75 million worth of Bitcoin shorts have been liquidated from the market in the past 60 minutes, according to data from TradingView. Total liquidation on the crypto market is up 80% in the last 24 hours already following Trump’s pausing of tariffs on multiple countries. JUST IN: $75,000,000 worth of Bitcoin shorts liquidated in the past 60 minutes. — Watcher.Guru (@WatcherGuru) April 9, 2025 According to data from CoinGlass, most of the market is now bullish on Bitcoin, as the king coin has reversed trajectory. The asset is back up over $82,000, and may be set to continue climbing over the next 24 hours. Bitcoin shorts as a result are being cashed in on before they are made worthless amid the surge. Other leading assets like Ethereum (ETH) and Ripple XRP are also up on the tariff pause news. In addition, Trump’s tariff pause orchestrated a monumental turnaround for the US stock market. Specifically, the announcement drove the Dow Jones Industrial Index to jump more than...

1. Hong Kong Releases Virtual Asset Roadmap, Considers Promoting Gold Tokenization 1.1 Hong Kong is Exploring the Promotion of Gold Tokenization link According to Hong Kong Wenhui Daily, Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, stated at the Consensus conference that Hong Kong is considering promoting the tokenization of gold, integrating physical gold with blockchain technology, and driving innovation in the financial market through tokenization. Hong Kong is also promoting the participation of digital finance in the real economy, such as supporting cross-border payments. Another trend is the integration of artificial intelligence with blockchain and Web3 technologies to strengthen the construction of digital infrastructure. 1.1 Hong Kong SFC Unveils Virtual Asset Roadmap ASPIRe link The Securities and Futures Commission of Hong Kong has issued the newly formulated ASPIRe Roadmap, which proposes five ...

A startup that has shocked the business world today has now suffered a recent breach. Indeed, China’s DeepSeek AI has been hit with a “large-scale malicious attack,” the company announced on its website Monday. Moreover, the development caused the platform to limit registration to Chinese phone numbers only. The arrival of the startup has certainly shaken up the US stock market. Early Monday, AI chipmaker Nvidia (NVDA) had plummeted more than 12%. Specifically, Wall Street panicked over the DeepSeek platform and what it could mean for the United States ambitions within the emerging industry. Source: Reuters Also Read: DeepSeek’s Rise: How China’s $236B Influx Could Crush NVIDIA (NVDA) AI Stocks DeepSeek AI Limits Registration After Malicious Attack With the arrival of OpenAI’s ChatGPT, the global demand for artificial intelligence products skyrocketed. The success of the platform saw the emergence of a brand-new industry. That arrival came with increased investme...

1. Bank of Japan Maintains Interest Rates Unchanged link On December 19, the Bank of Japan announced it would maintain its unsecured overnight call rate at 0.25%, leaving the policy rate unchanged. The yen weakened against the dollar, dropping to 155 for the first time since November. This marks the central bank’s third consecutive pause on rate hikes, with the decision passed by an 8-to-1 vote. 2. Japan’s Crypto Tax Reforms May Take Shape by 2025 link At a joint meeting of the Tax System Committees and Tax Research Committees of Japan’s Liberal Democratic Party and Komeito Party, the final outline of the 2025 fiscal tax reform was approved. Currently under “review,” the reforms may introduce a 20% separate self-assessment tax rate for cryptocurrencies and a loss carryforward system. The outline also confirmed an increase in the deduction amount to 1.23 million yen. Japan’s current cryptocurrency tax rate reaches as high as 55%, significantly higher than other countries, undermining th...

The US dollar is currently standing on a vulnerable threshold as its foes have started to double up at a rapid pace. As an active BRICS member, China has already ditched the dollar and is deepening ties with ASEAN, an alliance that pioneers the multipolar currency agenda. The collective strength of BRICS and ASEAN doubling down on the US dollar could prove lethal for the currency as the regional currency narrative, coupled with de-dollarization, is growing stronger with each passing time. In this quest, China has deepened its ties with ASEAN, as the recent McKinsey & Company outlines the stark geopolitical shifts that these regions are active parts of. Also Read: Ripple Announces Major Partnerships That May Help XRP Claim $0.65 China And ASEAN: Strengthening Economic Ties And Impact On The US Dollar Source: Business Telegraph Deepening Trade Relationship The economic interdependence between Asia and other regions is doubling rapidly. According to McKinsey and Company’s latest repor...

China investigating Yao Qian, the former head of the Digital Yuan project. Local media reports say Yao is under probe for “violations of discipline and law.” Yao Qian, a leading Chinese blockchain expert who previously spearheaded China ’s Digital Yuan program, is reportedly under government investigation . The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts.  Local media reports say China ’s anti-graft agency is probing Yao for alleged “violations of discipline and law.” Ex-Digital Yuan boss under probe Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission. On Friday, state-run news agency Shanghai Securities News, reported:   “ Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Secu...

A fake digital currency wallet Scam that mimics e-CNY, the Central Bank digital currency ( CBDC ) of China , is being shared across the country’s app stores, according to the Chinese Ministry of Industry and Information Technology.  The Chinese government warned social media users of a fake variation of the ‘Digital Yuan Test Version’ being listed on app stores.  The fake wallet reportedly uses ‘dividends’ to manipulate users into sharing the app while also directing them to ‘uncommon social tools’ capable of seizing user funds.  The app copies the e-CNY app’s logo, color scheme, and user interface but differs in its package name and version number. The government’s statement didn’t disclose exactly which app store the scam wallet is being listed on. The fake app (bottom) pictured with the legitimate e-CNY one. Authorities reportedly warned users to be wary of fake apps that rely on patriotism and use get-rich-quick messaging to lur...

BRICS member China could use the Belt and Road Initiative (BRI) to advance the Chinese Yuan and diminish the USD. For the uninitiated, China launched the Belt and Road Initiative in 2013 and provides loans to developing countries to build seaports, infrastructural projects, and railroads, among others. China finances developmental projects worldwide by releasing huge loans to Pakistan, Sri Lanka, and several African countries. Also Read: BRICS: 15 Countries to Ditch US Dollar for Oil Trade? A total of 155 countries have signed the Belt and Road Initiative with China and received funds for developmental projects. However, reports indicate that BRICS member China could soon use the BRI initiative to further the Chinese Yuan ’s usage by putting it ahead of the USD for global trade. Read here to know the list of countries that have signed the BRI agreement with China. Also Read: BRICS: De-Dollarization Gaining Steam in Developing Countries BRICS: China Could Use Chinese ...

Multinational banking giant Standard Chartered has begun offering exchange services for the digital yuan, helping to integrate China’s CBDC into the global financial system. Standard Chartered, a major multinational bank, has recently entered the growing realm of digital currencies by providing exchange services for China’s central bank digital currency (CBDC), the digital yuan. This strategic move aligns the bank with the evolving landscape of global finance, particularly in embracing a state-backed digital currency. Collaborating with City Bank Clearing Services, Standard Chartered’s chinese division is facilitating access to the digital yuan’s interconnection platform. This service encompasses both the recharge and redemption functions, enhancing customer interaction with this novel digital currency. You might also like: Standard Chartered predicts Bitcoin’s future value China’s digital yuan, also known as e-CNY, has been a front-runner in the...

BRICS members China and Saudi Arabia have kick-started the de-dollarization efforts by keeping the US dollar out for cross-border transactions. China and Saudi Arabia officially signed a $7 billion currency swap deal that favors their local currency the riyal and yuan. The three-year agreement allows trade to be settled in local currency with a cap of 50 billion yuan or 26 billion riyals. Therefore, the US dollar will play no role in trade for up to $7 billion between the two BRICS members. Also Read: Argentina to Decline BRICS Membership & Support US Dollar The trade deal is more symbolic than an agreement indicating Saudi Arabia ’s willingness to step away from the US dollar. China is on a campaign to convince other countries to trade in local currency and end reliance on the US dollar. The Xi Jinping administration is internationalizing the Chinese Yuan in an attempt to dethrone the US dollar’s global reserve currency status. Signing a $7 billion currency s...