Zimbabwe’s gold-backed currency, the ZIG, has seen a significant increase in usage since its introduction in April. While the U.S. dollar remains the dominant currency for most citizens, the ZIG is used for 40% of payments and 80% of government transactions. The government aims to eventually replace the U.S. dollar with the ZIG as the […]
The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of […]
Market insights reveal that on January 15, 2024, the stablecoin TUSD deviated from its usual $ 1 parity, dipping to $ 0.979 per coin the next day. By 10:00 a.m. Eastern Time (ET) on Tuesday, it managed to recover slightly, climbing above the $ 0.99 mark. TUSD Faces Unsteady Ground, Drops Under …
International Monetary Fund (IMF) chief Kristalina Georgieva sees crypto as an asset class, not money. She dismissed concerns of bitcoin potentially displacing the U.S. dollar as the world’s dominant currency, citing the size of the U.S. economy and the depth and sophistication of its capital markets as key factors. IMF Chief on Crypto and US […]
India’s oil and gas minister says de-dollarization is a long way away. The official emphasized his desire to conduct all transactions in rupees, expressing his wish for the Indian currency to become “the lead currency in the world.” Indian Official on De-Dollarization India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri stated in an […]