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News | Crypto Converter | Crypto Calculators |
Russia uses Bitcoin and USDT for oil trade amid sanctions |
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Key points: |
Russian oil firms are increasingly using Bitcoin (BTC) and Tether (USDT) for trade with China and India, bypassing Western sanctions. Crypto transactions represent a small but growing share of Russia's $192 billion oil trade.
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News - Russian oil companies have reportedly turned to cryptocurrencies like Bitcoin and USDT to facilitate trade with China and India, according to a Reuters report. This move allows Russia to bypass Western sanctions, which have restricted its access to traditional banking systems. |
Citing sources familiar with the matter, the report suggests that some oil traders use crypto to convert payments made in Chinese yuan and Indian rupees into Russian rubles. One trader allegedly conducts tens of millions of dollars in crypto transactions every month. |
This practice aligns with Russia's increasing embrace of digital assets for international trade. The country's central bank has also proposed a legal framework allowing high-net-worth individuals to invest in cryptocurrencies. |
How crypto powers Russia's oil trade - The use of crypto in Russian oil transactions reportedly follows a complex multi-step process: |
A Chinese or Indian buyer pays an intermediary in their local currency (yuan or rupees). The intermediary converts these funds into crypto and transfers them to an offshore account. The crypto is then sent to another account in Russia, where it is converted into rubles for final settlement.
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While fiat currencies, including the UAE dirham, remain the dominant payment method, crypto provides flexibility and speed for certain transactions. |
What's next? - Even if sanctions are lifted, crypto will likely continue to play a role in Russia's oil trade. Experts argue that Bitcoin and stablecoins offer a convenient and efficient alternative to traditional banking systems. |
Meanwhile, China continues to enforce a crypto ban despite its significant role in Bitcoin mining. However, some analysts believe China will have to reassess its stance as Bitcoin's role in global finance expands. |
Leaked White House plan: Trump wants more Bitcoin |
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Key points: |
A leaked source suggests the Trump administration is planning to accumulate as much Bitcoin as possible. White House official Bo Hines reportedly confirmed this intention at a private roundtable with key crypto leaders. The administration insists Bitcoin acquisitions will be "budget neutral," avoiding taxpayer costs.
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News - The Trump administration is making waves in the crypto space with leaked revelations that it wants to acquire as much Bitcoin as possible. According to sources at a closed-door roundtable hosted by the Bitcoin Policy Institute, Bo Hines, executive director of the Presidential Working Group on Digital Assets, stated that there should be no limit to the size of the U.S. government's Bitcoin holdings. |
The leak comes just weeks after Trump's executive order establishing a U.S. Bitcoin Strategic Reserve, which was initially met with disappointment due to the lack of immediate Bitcoin purchases. The U.S. currently holds around 200,000 BTC, primarily seized in criminal cases. However, new legislation could change that. |
Trump administration eyes large-scale Bitcoin accumulation - Hines reportedly emphasized that any new Bitcoin acquisitions would be made in a budget-neutral way, ensuring no cost to taxpayers. Though no specific legislative backing has been confirmed, insiders suggest the administration is exploring avenues to fund purchases without direct federal expenditure. |
The meeting was attended by key figures in the crypto industry, including Michael Saylor (MicroStrategy), Fred Thiel (Marathon Digital), and U.S. senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno. Notably, Lummis has reintroduced the Bitcoin Act, which, if passed, would mandate the U.S. government to acquire up to 1 million BTC (worth ~$80 billion at current prices) over five years. |
What's next? - While the government's Bitcoin reserve strategy is still evolving, its implications for the market could be profound. If the U.S. begins large-scale Bitcoin purchases, it could tighten supply and drive prices higher. However, questions remain about the feasibility of "budget-neutral" acquisitions and potential regulatory hurdles. |
With increasing geopolitical competition in digital assets and China's quiet maneuvers in the crypto space, the race for Bitcoin dominance is heating up. Will the U.S. move ahead aggressively, or will internal political and economic challenges stall this ambitious plan? All eyes are on Washington. |
FTX's secret $1.5B liquidation of 3AC assets sparks controversy |
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Key points: |
FTX liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. A U.S. court has allowed 3AC to increase its bankruptcy claim against FTX from $120 million to $1.53 billion.
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News - Newly revealed court documents have disclosed that FTX secretly liquidated $1.53 billion worth of Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. This revelation challenges previous assumptions that 3AC's downfall was purely market-driven. |
The crypto hedge fund, which was once valued at over $10 billion, suffered massive losses following the May 2022 market crash. However, recent findings suggest that FTX had already liquidated 3AC's assets to settle its own obligations before the firm's bankruptcy. |
In response, a U.S. bankruptcy court has granted 3AC liquidators the right to increase their claim against FTX from $120 million to $1.53 billion. The ruling acknowledged that delays in filing the amended claim were primarily due to FTX's failure to provide necessary records in a timely manner. |
Court ruling and 3AC's claims against FTX - 3AC's liquidators have expanded their claims against FTX to include breach of contract, unjust enrichment, and breach of fiduciary duty. The court's decision allows them to seek full recovery, though it remains uncertain whether they will receive the entire $1.53 billion. |
Judge John Dorsey dismissed FTX's objections, noting that the delay in 3AC's amended filing was largely caused by FTX withholding critical information. The ruling adds another layer of complexity to FTX's ongoing bankruptcy case. |
Could FTX's actions have saved 3AC? - Despite the substantial liquidation, analysts suggest that even if 3AC had retained the additional $1.5 billion, it may not have been enough to cover its total debts. The hedge fund had borrowed extensively from multiple institutions, and its leveraged trades contributed to its downfall. |
Adding to the intrigue, former Binance CEO Changpeng Zhao speculated whether FTX played a role in the broader crypto market crash, particularly the collapse of Terra's UST stablecoin. |
With this new revelation, FTX's role in the events leading to the 2022 crypto crash is under scrutiny, further complicating the legal battles surrounding both bankrupt firms. |
Ripple's Dubai win sets XRP for a 46% surge |
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Key points: |
XRP's price could surge 46% as it tests a crucial breakout level and benefits from Ripple's first Dubai license. Ripple's RLUSD stablecoin faces regulatory challenges, with its ability to be frozen or reversed to comply with legal mandates.
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News - Ripple's XRP is gaining momentum, fueled by strong technical signals and a regulatory breakthrough in Dubai. Meanwhile, its RLUSD stablecoin is under scrutiny due to compliance with the amended GENIUS Act, which requires issuers to integrate asset-freezing mechanisms. |
XRP bulls eye 46% rally as Dubai license boosts sentiment - XRP has been consolidating within a descending triangle pattern since reaching its seven-year high of $3.40 in January. Recently, the price found support at $2.00 and is now testing a crucial resistance at $2.30. |
If XRP manages a daily close above $2.30, analysts predict a strong rally toward $3.00, with potential gains extending to $3.40, representing a 46% increase from current levels. |
Adding to the bullish case, Ripple secured regulatory approval in Dubai, allowing it to offer crypto payment services in the UAE, a market worth $40 billion in remittances and $400 billion in trade. This milestone positions Ripple as a leader in regulated cross-border transactions. |
RLUSD stablecoin faces compliance scrutiny - While Ripple celebrates its Dubai approval, its Ripple USD (RLUSD) stablecoin is drawing regulatory attention. Ripple's Chief Technology Officer, David Schwartz, confirmed that RLUSD can be frozen or reversed to comply with legal mandates. |
This aligns with the GENIUS Act, which requires stablecoin issuers to integrate freezing mechanisms for legal compliance. Ripple's XRP Ledger (XRPL) community activated the clawback feature in January, allowing issuers to seize assets under legal orders. This ensures RLUSD aligns with U.S. regulatory expectations, a critical factor as global stablecoin oversight tightens. |
Ripple vs. SEC: A legal battle nears its end? - Ripple's prolonged battle with the U.S. SEC over XRP's classification may soon conclude. Reports suggest both parties are dropping appeals, following a July 2023 ruling that XRP sales to retail investors were not securities but institutional sales violated U.S. regulations. |
With new SEC leadership potentially taking a softer stance, Ripple could emerge from the lawsuit in a stronger position. As the case nears its resolution, XRP's price outlook remains bullish, with the potential for further upside if regulatory clarity supports broader adoption. |
What's next for XRP? - With technical indicators flashing bullish, Ripple securing its Dubai license, and regulatory uncertainties possibly easing, XRP is at a critical juncture. If it clears the $2.30 resistance, a move toward $3.00–$3.40 looks increasingly likely. |
However, the stablecoin scrutiny surrounding RLUSD could impact broader market sentiment, making it essential for Ripple to navigate compliance effectively to sustain its momentum. |
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More stories from the crypto ecosystem |
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Crypto scams uncovered |
In early 2025, authorities uncovered that human trafficking victims were coerced into operating crypto scam centers in Southeast Asia. These individuals endured severe abuse while being forced to defraud victims worldwide through elaborate cryptocurrency schemes. The crackdown led to the rescue of thousands, shedding light on the dark intersection of human trafficking and crypto fraud. The Michigan Attorney General recently issued warnings about "pig butchering" scams, which combine romance and investment fraud to deceive victims into investing in fake cryptocurrency schemes. These scams have led to substantial financial losses, particularly among seniors. Visa has launched a comprehensive scam detection initiative, investing $12 billion over five years to protect consumers from online fraud, including cryptocurrency scams. The program involves dedicated intelligence teams and collaboration with law enforcement to dismantle scam networks.
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Top 3 coins of the day |
OKB (OKB) |
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Key points: |
At press time, OKB was trading at $45.09, reflecting an 8.91% increase over the last 24 hours. The Bollinger Bands showed increased volatility, while the DMI indicated strengthening bullish momentum with the +DI line rising above the -DI line.
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What you should know: |
OKB witnessed a strong surge in price, climbing above the midline of the Bollinger Bands, indicating renewed buying interest. The expansion of the bands suggested increased market volatility, which could lead to further price swings. The DMI indicator reinforced this bullish outlook, as the +DI line crossed above the -DI line, signaling growing buyer dominance. Trading volume has also picked up, supporting the recent uptrend. However, the price has been approaching the next resistance zone near $48. If bulls manage to push past this level, OKB could see a continuation of its rally. Conversely, if profit-taking sets in, the token could retrace toward the $42 support level. Traders should monitor price action closely as OKB navigates these key levels. |
OFFICIAL TRUMP (TRUMP) |
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Key points: |
At press time, TRUMP was trading at $11.65, reflecting a slight decline of 0.34% over the last 12 hours. The Parabolic SAR indicated continued bearish pressure, while the MACD remained in negative territory, suggesting weak bullish momentum.
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What you should know: |
TRUMP has been consolidating after a period of high volatility, struggling to gain upward momentum. The price attempted a recovery but faced resistance at $12.13, which aligns with the latest Parabolic SAR positioning. The MACD indicator continued to hover below the signal line, signaling that selling pressure was still dominant. Despite moderate trading volume, the lack of bullish momentum has kept TRUMP in a neutral-to-bearish phase. If the price fails to reclaim $12.50, it could remain under pressure, with the next key support level near $10.80. A decisive break above resistance could signal a trend reversal, but current indicators suggest caution in the short term. |
Ethena (ENA) |
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Key points: |
At press time, ENA was trading at $0.34, reflecting a 2.54% increase over the last 24 hours. The Parabolic SAR remained in a downtrend, while RSI hovered near the oversold region, indicating weak bullish momentum.
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What you should know: |
ENA experienced a modest recovery after its recent decline, which occurred despite the $200M allocation to BlackRock's BUIDL fund. This suggests that broader market conditions or investor concerns over Ethena's fundamentals played a larger role in its price movement. Despite the minor price increase, the broader trend remained bearish, with the Parabolic SAR maintaining its downward placement above the candlesticks. The RSI hovered near oversold levels, indicating that selling pressure had eased slightly, but buyers had yet to regain full control. Trading volume remained stable, reflecting a balanced struggle between buyers and sellers. If ENA sustains its current momentum, the next resistance level to watch would be near $0.38, while immediate support rests at $0.32. A break below this support could trigger further declines. Market participants should closely monitor fundamental developments, particularly institutional investments in Ethena, as these could influence short-term price movements. |
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