China News Daily TheBitTimes.com

The 2024 election win for Donald Trump proved to be one of the most historic in the United States. It marked Trump’s return to the Oval Office and brought with him some ambitious ideas for the country. Among them were spearheaded efforts to slash government spending. Well, two months into his second administration, how much has the DOGE Commission saved US taxpayers so far? Tesla (TSLA) CEO Elon Musk was set to head the effort, as he was a critical part of Trump’s campaign late last year. He has not been shy about the importance of the role, and the collective has wasted no time in taking action. The question is, just how much have they saved the country to this point? Source: The New York Times Also Read: Will Donald Trump Lower Taxes in 2025? How Much Has Elon Musk’s DOGE Saved US Taxpayers? For the last several years, the United States has struggled mightily with its federal debt. Currently standing at more than $36.2 trillion, the issue is starting to become unavoidable. Moreover, ...

The US dollar is battling rising external forces, enemies, and foes that intend to derail and destabilize its positioning. The US dollar is now a part of the growing multipolar system, where countries have now started to initiate de-dollarization drives to suppress USD usage all while promoting the use of local currencies. In this effort, three countries have lately been pioneering this effort. Now that Trump’s stance towards tariffs has become more gruesome, will the concept of de-dollarization become a regular phenomenon? Let’s find out. Also Read: Trump’s 25% EU Tariffs Cause Bitcoin to Tumble—How Will Crypto React? Three Countries Reducing Their Reliance On US Dollar Sparking De-Dollarization 1. Russia Source: pics.alphacoders.com Russia was sanctioned heavily by the United States and was ultimately banned from the SWIFT transactions system. Since the aforementioned fallout, Russia has been spearheading the local currency usage while pivoting towards exploring the Chinese Yuan...

Financial giant Bernstein has developed an interesting new Analysis concerning BTC and gold. The leading financial entity has concluded that Bitcoin is slowly evolving and can replace gold as a trusted hedge asset over the next ten years. Also Read: Putin’s Digital Ruble Goes National: Russia’s Strategic Step Toward De-Dollarization Bitcoin Gold Connect: The Inevitable Evolution? Image: Watcher Guru Bernstein Analyst Gautam Chhugani, in the latest note shared on Thursday, stated how Bitcoin may replace gold as an effective hedge asset in the near future. The expert later noted how Bitcoin has started to emerge as a new store of value that will “eventually” be replacing gold as the next hedge asset. #BITCOIN TO REPLACE GOLD OVER NEXT DECADE, SAYS BERNSTEIN Bernstein predicts Bitcoin will replace gold as the leading 'store of value' over the next decade, becoming integral to institutional and corporate finance. Analyst Gautam Chhugani's note followed Bitcoin reaching… — *Wal...

The US dollar is currently witnessing a surge in its enemies. The American currency’s foes have been doubling at a rapid pace, with several nations magnifying and stressing the agenda of de-dollarization. With the US being part of a prestigious G7 alliance, the emerging BRICS pact continues to show its meteoric potential to the US to subdue the US Dollar’s supremacy to a certain extent. But can the US dollar be truly subdued?\ Also Read: Russia Eyes Legalizing Stablecoin Payments For Global Trade G7 -vs-the-triumvirate-nbsp"> G7 vs. the Triumvirate Source: Mikhail Svetlov / Getty Images The G7 pact, consisting of the prosperous 7-nation bloc, is now gunning for global supremacy. These nations, notably Canada, France, Germany, Italy, the United Kingdom, and the United States, are all aiming to become leaders in the global political race. With the USD gaining reserve currency status, the process of subduing and derailing it has now become the highlight for many nations. With...

The US dollar is now breaching new milestones as the leading currency by making its presence felt on a macro level. The USD has risen against the Chinese Yuan, Japanese Yen, and Indian Rupee, marking its position as a leading currency player in the space. However, a new competitor has risen, which yields enough power to subdue the might of the USD and outpace it.  The current world order is promoting the rise of regional and local currencies, with the multi-polar currency concept catching pace. The concept permits other local currencies to gain market momentum, and this time the tidal wave of changing financial dynamics is promoting the Naira, the Nigerian currency, which is up 12% this month.  Also Read: Cryptocurrency: Top 3 Coins To Watch This Weekend The Rise of Naira Source: International Atomic Energy Agency After experiencing months of volatility and unpredictability, the Nigerian naira rose 12% in April against the USD. The currency has rallied throughout ...