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(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
TOP ECONOMIC EVENTS TO WATCH NEXT WEEK: US CPI & PPI REPORT, POWELL’S TESTIMONY MIGHT SET CRYPTO MARKET’S TREND
▪️ Crypto markets brace for key economic events, including CPI, PPI data, and Jerome Powell’s testimony, which could impact price trends.
▪️ Fed interest rate outlook and U.S. tariff updates may influence investor sentiment, with inflation reports playing a crucial role next week.
Next week is important for the crypto market because a few major events are happening. These include the release of the CPI and PPI data, speeches from important Federal Reserve officials, and testimony from Jerome Powell, which could all influence the direction of the crypto market in the coming week.
Jobs Report and Tariff Concerns Shake Markets Before Inflation Data
After the January jobs report came out on February 7, the dollar and bond yields increased, but stock and crypto prices dropped. These market changes were influenced by more than just the jobs report.
It concluded a week filled with strong economic data and growing concerns about upcoming U.S. tariffs. The January 2024 jobs report was a key highlight of last week, but other economic data also came in strong and exceeded expectations.
At its latest meeting, the Federal Reserve kept its main interest rate steady at 4.25%-4.50%, stressing that they need to see continuous improvement in inflation before thinking about reducing rates.
Several Fed officials also mentioned that prices pushed up by tariffs might lead to keeping their policies stricter for a longer period than what the markets anticipate.
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CPI Report on 12 February
U.S. inflation figures and remarks from Federal Reserve Chair Jerome Powell will play a crucial role in deciding the direction of U.S. interest rates. Additionally, any new updates on tariffs from the T******************n will be closely watched.
With the first central bank decisions of 2025 behind us, this week might be quieter. However, there’s still significant news for investors, as the crucial CPI report from the United States is coming up.
In December, the main CPI rate slightly increased to 2.9% year-over-year, while the core rate decreased to 3.2%. According to predictions from the Cleveland Fed’s Inflation Nowcasting model, the main CPI rate is expected to have dropped to 2.85% in January, and the core rate to have slightly decreased to 3.13%.
On February 11, key figures from the Federal Reserve, including Hammack, Williams, and Powell, along with the Bank of England’s Mann and Bailey, will deliver speeches.
The next day, February 12, will feature talks from the Fed’s Bostic and Powell, as well as the ECB’s Nagel and the BoE’s Greene, potentially impacting financial markets with their insights on monetary policy.
Attention will also turn to inflation numbers from China, economic statistics from Japan, and data on the U.K.’s gross domestic product.
Jerome Powell’s Testimony to Take Place
Federal Reserve Chair Jerome Powell probably won’t share much new information this week during his twice-a-year report to Congress, but his appearance could still affect the markets.
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Powell will testify in the House of Representatives on Wednesday and then in the Senate on Thursday, discussing the Fed’s view on the economy.
Deutsche Bank analysts said,
“He will likely stick to the January FOMC script but the market always seems to get something new out of these appearances, which include a lot of congressional Q&A.”
Economists believe he will echo a common theme from recent Federal Reserve meetings: there is currently no hurry to lower the key fed funds interest rate.
US PPI Report
If the US releases strong producer price index (PPI) or retail sales figures, it could boost the dollar by making investors think that interest rate cuts might be delayed. Although markets have been doing well lately, any unexpectedly high inflation could make investors feel less bullish.
Additionally, if industrial production numbers are strong, it could increase the prices of oil and metals. However, if retail sales are weak, it could reduce demand for commodities driven by consumer spending and could also negatively impact the dollar. As a result, we might see a bullish comeback in the crypto market.
@ Newshounds News™
Source: Coinpedia
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BRICS CURRENCY PLAN IS OFFICIALLY NO MORE: WILL TRUMP LIFT TARIFFS
The ongoing tensions between the United States and the BRICS alliance have reached a fever pitch. With the world concerned about a burgeoning trade war, both sides seem no closer to any sort of resolution. However, a recent statement confirmed that the BRICS currency plan is officially no ore, but will US President Donald Trump lift his proposed tariffs?
During his campaign for re-e******n, Trump originally warned tariffs to dissuade the nation from embracing de-dollarization. He targeted the BRICS bloc specifically because they had so blatantly embraced the native currency settlement of their trade. Yet, with them confirming they are no longer a threat to the world’s currency, will Trump relent?
BRICS Currency Plan Confirmed to be Done, but Will Trump No Longer Target Alliance?
Donald Trump once said that the US dollar ceasing to be the world’s global reserve currency would be akin to the nation losing a war. That is what first placed the BRICS alliance in his crosshairs. For years, the nation has sought to implement its very own currency. Although never announced, the rumor had been present for much of 2024.
That caused the current US President to threaten significant tariffs on these nations. Specifically, he targeted those who would not commit to ensuring the status of the greenback. However, BRICS has officially confirmed its currency plan is no more, but will a Trump tariff also be rejected?
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Dimitry Peskov, a Russian spokesperson, recently confirmed that “the BRICS are not discussing the creation of a common currency.” Indeed, the statement looked to put to rest the popular rumor. Alternatively, Peskov confirmed that the bloc was simply focused on joint investment and economic cooperation.
The question is, how will Trump respond? He is already planning reciprocal tariffs to match those imposed by other countries.
Additionally, China has already responded to its 25% tariff with a 10% import tax on the US. With these nations already deeply embedded in an ongoing trade war, it is difficult to imagine Donald Trump would end the policy before it truly was implemented.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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GOLD REACHES ALL-TIME HIGH AS BITCOIN STRUGGLES FOR MOMENTUM AMID MARKET UNCERTAINTY
▪️ Gold has surged to a new all-time high, outperforming bitcoin year-to-date, as central banks continued aggressive purchases.
▪️ Meanwhile, bitcoin’s price increase of around 5% since the beginning of the year has been marked by volatility, with markets reacting to Donald Trump’s proposed tariffs and broader macroeconomic risks.
Gold reached a fresh all-time high of $2,902 per ounce as of Monday, marking a 17.5% increase since the start of the year.
Gold’s bullish trajectory has been fueled by ongoing central bank purchases, concerns over global trade policies, and investor demand for safe-haven assets, according to a report from the World Gold Council. Its data shows global gold reserves increased by 694 tons in the first ten months of 2024, continuing the record accumulation trend from previous years.
The report said central banks are expected to remain net buyers of gold in 2025, citing de-dollarization efforts and geopolitical risks as key drivers.
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Among the largest gold buyers in 2024 were Poland, India, Turkey and China, with net purchases of 89.5 tons, 72.6 tons, 74.8 tons, and 44.2 tons respectively. Western sanctions on Russia’s central bank reserves in 2022 have been cited as a turning point, reinforcing gold’s role as a geopolitical hedge.
The World Gold Council report found that 69% of central banks expect to continue accumulating gold, while 83% of those in industrialized nations cite it as a hedge against inflation and financial instability.
Trump’s tariffs and market impact
Markets remain uncertain after President Donald Trump announced on Sunday a 25% tariff on all steel and aluminum imports, renewing fears of a global trade war. Steel and aluminum stocks surged in premarket trading in New York, with U.S. Steel and Nucor rising 8% and Cleveland-Cliffs gaining 9%. Alcoa also saw a 4% increase.
With Mexico and Canada among the top three U.S. suppliers, the tariffs cast doubt on last week’s temporary delay and could reignite trade tensions. Although stock futures showed optimism on Monday, QCP Capital sees a feedback loop emerging.
“President Trump, highly sensitive to market reactions, is facing a market increasingly calling his bluff. This could embolden him further, adding another layer of volatility,” said QCP Capital.
While bitcoin is often discussed as a hedge against monetary and geopolitical uncertainty, its correlation with risk assets has remained elevated, making it susceptible to shifts in market sentiment, according to a Bitwise report on Monday. In contrast, gold’s traditional role as a safe haven has strengthened its appeal amid growing concerns over inflation and trade disruptions.
@ Newshounds News™
Source: The Block
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CFTC ANNOUNCES CRYPTO FRAUD ACTION AFTER ENFORCEMENT PRIORITIES SHIFT
Acting CFTC Chair Caroline Pham announced on Feb. 4 that the commission would essentially end its practice of regulation by enforcement.
The US Commodity Futures Trading Commission (CFTC) announced a consent order charging a New York resident with fraud in one of the agency’s first crypto-related enforcement actions under acting Chair Caroline Pham.
In a Feb. 10 notice, the CFTC said US authorities had charged Rashawn Russell with engaging in a digital assets trading scheme from 2020 to 2022, in which he solicited investors to contribute cryptocurrency to a fraudulent fund.
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According to the complaint, Russell misappropriated roughly $1.5 million through the scheme, which had him plead guilty to wire fraud in the US District Court for the Eastern District of New York.
“Russell guaranteed no loss to investors, and in some instances, guaranteed a minimum twenty-five percent return,” said the CFTC complaint filed on Jan. 16. “In reality, Russell intentionally and/or recklessly made false or misleading statements to solicit and retain investors.”
The enforcement case was one of the agency’s first actions since acting Chair Pham announced on Feb. 4 that the CFTC would be restructuring its Division of Enforcement’s priorities to focus on fraud.
The commission said it planned to divide responsibilities for enforcement cases into two task forces focused on retail fraud and “complex fraud and m**********n.”
Crypto enforcement cases going into 2025?
Members at the CFTC elected Pham as acting chair on Jan. 20 amid the inauguration of US President Donald Trump, whom many expect will nominate a commissioner to fill former Chair Rostin Behnam’s seat. Behnam stepped down as chair on Jan. 20 but remained at the CFTC until Feb. 7, leaving the commission one seat shy of a full panel.
During the 2024 fiscal year under Behnam, the CFTC reported more than $17 billion in monetary relief, stemming mainly from the agency’s actions against crypto exchange FTX.
Pham’s announcement regarding the commission’s shift in priorities suggested that the CFTC would focus less on regulating by enforcement for crypto firms handling digital assets considered commodities.
The US Securities and Exchange Commission — the country’s other significant financial regulator overseeing digital assets — announced in January that it would form a crypto task force to develop a regulatory framework.
Trump appointed SEC Commissioner Mark Uyeda as acting chair following the departure of Gary Gensler until the US Senate can consider the nomination of former commissioner Paul Atkins.
@ Newshounds News™
Source: CoinTelegraph
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RIPPLE’S FIRST FORAY INTO PORTUGAL: PARTNERS WITH UNICÂMBIO USING BLOCKCHAIN FOR INSTANT CROSS-BORDER PAYMENTS
Ripple has expanded its European presence by partnering with Unicâmbio, a leading currency exchange provider in Portugal, to facilitate instant cross-border payments between Portugal and Brazil
This collaboration marks Ripple’s first foray into the Portuguese market, leveraging Ripple Payments to enable Unicâmbio’s corporate clients to transfer funds quickly and efficiently between the two countries.
@ Newshounds News™
Read more: The Defiant
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HONG KONG SCIENTISTS BUILT A LICKABLE DEVICE THAT LETS YOU TASTE THINGS IN VR
The 15-gram “lollipop” uses food-grade chemicals and electrical currents to simulate nine different flavors, bringing a sense of taste to VR and AR environments.
@ Newshounds News™
Read more: Decrypt
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Source: Dinar Recaps
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REP. WATERS PROPOSES STABLECOIN RULES, FEDERAL OVERSIGHT
Both House Republicans and D*******s have introduced proposals to regulate U.S. stablecoins, signaling that the sector is a legislative priority under President Donald Trump.
Maxine Waters, the ranking D******t on the House Financial Services Committee, published a proposal for stablecoin oversight through federal watchdogs such as the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve, according to Punchbowl News.
Waters’ discussion draft also outlines regulatory frameworks for state regulators. Back in 2022, Rep. Waters criticized a Republican-led House Committee bill, calling it “deeply problematic” due to concerns over allowing state regulators to approve stablecoins without Federal Reserve oversight.
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At the time, she argued before former Committee Chair Patrick McHenry that this approach could introduce unforeseen risks.
Rep. Waters’ proposal means that both Republican and D********c lawmakers have now introduced stablecoin regulations since President Trump took office.
Last week, Rep. French Hill, the new Republican Chair of the House Financial Services Committee, submitted a draft bill for stablecoin regulation, co-sponsored by Rep. Bryan Steil. The bill would grant the OCC authority to approve and supervise payment stablecoin issuers.
Specifically, the OCC can license and oversee nonbank stablecoin operators with federal permits. The rules could allow firms like Ripple to enter the $220 billion market.
Rep. Hill’s bill contrasts with Rep. Waters’ proposal, as it assigns stablecoin oversight to the OCC rather than the Federal Reserve, which Waters had advocated. Waters previously stated that House lawmakers needed a “grand bargain on stablecoins” to move forward with regulation.
In the Senate, GOP Senator Bill Hagerty also introduced the “Guiding and Establishing National Innovation for U.S. Stablecoins” Act. Policymakers also unveiled a bi-cameral working group focused on passing crypto regulation at a press conference hosted by White House AI and crypto czar David Sacks.
@ Newshounds News™
Source: CryptoNews
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BRICS: NEW NATION REJECTS DE-DOLLARIZATION AMID TRUMP TARIFFS
The last several weeks have seen geopolitical tensions growing. With both sides reaching a fever pitch, the BRICS has seen yet another nation reject de-dollarization amid the implementation of US President Donald Trump’s new tariffs. Indeed, the president is set to introduce new 25% import taxes Monday as his aggressive economic policy continues.
The move has propelled the US dollar upward, as it seems to reinforce faith in the greenback. However, its potential impact on the United States and the world economy remains to be seen.
All that is certain is that the country is setting the planet on course for a trade war that is wide in its scope and impact.
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BRICS Sees Yet Another Country Reject De-Dollarization as Trump Tariffs Take Effect
En route to his campaign victory in November, Trump had championed the importance of the US dollar. Indeed, he noted that the greenback losing its status as the world’s currency would be akin to the nation losing a war.
This has driven his economic policy, as he looks to defend the nation’s currency against lessened international usage and thwart potential expansion of the idea.
To this point, it appears the aggressive stance is working. Indeed, a new BRICS nation has spoken out rejecting de-dollarization as Trump’s tariff plan begins to take effect. It joins nations like India in reassuring that the bloc’s operations are not directly tied to harming the US dollar.
Specifically, Indonesia’s chief economist, Josua Parde, recently confirmed it has no interest in targeting the greenback. Alternatively, its BRICS participation is merely tied to its own economic growth. Indeed, Pardede notes that the distinction between the two is of the utmost importance to the nation.
“We are entering BRICS not to support the de-dollarization of China and Russia but rather to expand trading partners,” Pardede said. “This de-dollarization that we are encouraging is to provide an option for the business world not to always depend on the dollar,” they added.
It will be interesting to observe how Trump responds. With his targeting of Mexico and Canada, things may have changed. Indeed, it appears that his economic policy may be less tied to the US dollar’s status than originally perceived. However, he could redirect his approach to BRICS. Instead, targeting nations actively seeking to decrease the value of the dollar in the coming weeks.
@ Newshounds News™
Source: Watcher Guru
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PRO: NORTH CAROLINA’S STRATEGIC BITCOIN RESERVE BILL A ‘BIG DEAL’
Introduced by Rep. Destin Hall, Speaker of the NC House of Representatives, the bill would allow state lawmakers to invest up to 10% of the state’s funds into exchange-traded products tied to digital assets with a market capitalization exceeding $750 billion.
It also authorizes Bitcoin investments for state-managed funds, including teachers’ and state employees’ pensions, insurance funds, and veterans’ home trust funds.
@ Newshounds News™
Read more: Crypto News
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Source: Dinar Recaps
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