As global tensions rise, Russia is increasingly turning to Bitcoin and other cryptocurrencies to bypass Western sanctions, a key topic at the ongoing BRICS summit.
Russian lawmakers are exploring options to allow local miners to sell Bitcoin to international buyers, enabling trade without relying on the US dollar.
President Vladimir Putin revealed that BRICS nations are considering cryptocurrencies like Bitcoin and XRP for alternative payments, aiming to strengthen their economic position outside Western influence.
In a significant development, BitRiver, a major Russian mining company, has partnered with the Russian Direct Investment Fund (RDIF) to establish data centers for Bitcoin mining across BRICS countries. CEO Igor Runets stated this initiative will boost cross-border transaction liquidity and support advancements in AI and digital technologies.
Russia is also accelerating its cryptocurrency regulations, having implemented a new mining law in August 2024 that requires miners to register and comply with energy standards.
This law allows Russian-mined cryptocurrencies to be used for international payments, further integrating them into global trade. Additionally, plans for cryptocurrency exchanges in Moscow and St. Petersburg aim to enhance the nation’s digital economy.
Jonathan Mann, the creator behind the long-running “Song A Day” project, has turned his crypto misfortune into a musical cautionary tale.
Elon Musk’s financial standing has taken a major hit, with his net worth shrinking by $70 billion since his public fallout with Donald Trump.
UBS analyst Brian Meredith has revised his outlook on Berkshire Hathaway’s Class B shares, trimming the price target from $606 to $591, while maintaining a “buy” rating.
Investor attention in the crypto space is shifting fast—and the latest weekly data from CoinGecko highlights just how diverse the landscape has become.