Russia is back in the spotlight after recent issues with the Libyan dinar, which Libyan officials attribute to a surge in counterfeit bills reportedly linked to Russia.
Newly analyzed customs data reveals Russia has moved $2.3 billion in cash to Moscow, with Turkey and the UAE facilitating these transfers amidst sanctions. Interestingly, over half of this cash’s origin remains unknown.
Despite the Kremlin’s push to promote the Chinese yuan, many Russians still prefer holding dollars and euros for their reliability. Dmitry Polevoy of Astra Asset Management notes that the dollar continues to be a favored currency among Russians.
This ongoing preference highlights a gap between Russia’s official economic policies and the practical choices of its citizens. The high demand for foreign cash is driven by travel and savings needs.
Additionally, President Putin’s legalization of Bitcoin mining represents a move to overcome financial barriers. Russia’s recent presidency of the UN Security Council has also been used to promote a “multipolar world” and challenge the dominance of the US dollar, aligning with the goals of the BRICS nations.
According to crypto analytics firm Santiment, the decentralized oracle network Chainlink (LINK) leads all ERC-20 projects in development activity.
Vice President Kamala Harris, the Democratic candidate for the upcoming presidential election in November, recently spoke at a Wall Street fundraiser where she addressed the cryptocurrency industry for the first time.
Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris’ fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.