(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
COINBASE SAYS FDIC NOT COOPERATING WITH EXCHANGE’S FREEDOM OF INFORMATION REQUEST IN NEW COURT FILING
Coinbase’s legal representatives say the U.S. Federal Deposit Insurance Corporation (FDIC) hasn’t been cooperating with Freedom of Information Act (FOIA) requests.
Coinbase has been attempting to leverage FOIA to uncover instances of the FDIC asking banks to freeze crypto services, known as “pause letters,” but the top US crypto exchange says the regulator hasn’t been complying with its information requests.
Paul Grewal, Coinbase’s chief legal officer, claims the pause letters were part of “Operation Choke Point 2.0,” an alleged attempt by Biden Administration government regulators to stifle the crypto industry.
The exchange hired the law firm History Associates, which filed a motion in January asking a federal court to intervene.
The following month, the court paused the FDIC’s deadline to respond to History Associates’ amended FOIA complaint “so that the parties could engage in a biweekly, informal information-sharing process,” according to the law firm.
Coinbase’s legal representation has requested information regarding the FDIC’s response to its FOIA requests, specifically concerning the regulator’s policy or practice of “failing to conduct complete searches of all relevant databases and failing to take adequate steps to preserve responsive documents.”
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In a new motion filed this week, History Associates now says the FDIC is “unwilling to cooperate” with these FOIA requests.
“The only viable path forward is for the case to resume and proceed to litigation of the merits.”
Last month, the FDIC released redacted documents related to its supervision of crypto-related activities, which include pause letters sent to 24 banks as well as communications and records involving other regulated institutions.
House Oversight Committee Chairman James Comer (R-KY) subsequently sent a letter to FDIC Acting Chairman Travis Hill requesting unredacted copies of the documents.
@ Newshounds News™
Source: DailyHodl
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BRICS: 2 COUNTRIES OFFICIALLY LOOK TO TRADE IN LOCAL CURRENCIES
BRICS members Brazil and China have officially agreed to settle cross-border payments in local currencies rather than the US dollar. Brazilian authorities support expanding the use of national currencies and are looking at opportunities to increase the payment option. The Luiz Lula da Silva administration is gearing up to end reliance on the US dollar before the upcoming summit.
BRICS: Brazil & China Look at Local Currencies For Trade Settlements
Both the BRICS members Brazil and China are drawing plans to push local currencies forward for mutual payments. Brazil’s Secretary of the Finance Ministry Tatiana Rosito said that some trade between the two countries is already being settled in national currencies and not the US dollar. Lula da Silva had previously stated that the alliance must slowly end dependency on the US dollar.
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“The trade in local currencies is already underway, for example, between Brazil and China,”said Rosito. She added that Brazil fully supports using local currencies and is chalking out plans to make it a reality. “No obstacles exist to that on the side of Brazil,” the official said.
“Therefore, the goal of BRICS is to expand the use of local currencies in any way that will make it possible to reduce costs and will be of interests for association’s members,” said Rosito. She also highlighted how the BRICS bank ‘New Development Bank’ helps the alliance bypass the dominance of the US dollar.
“Opening of this bank reflects the aspiration of BRICS members to proactively participate in transformation of the economic and financial order,” using local currencies, Rosito summed it up. In conclusion, the de-dollarization agenda is alive and thriving in 2025 as the alliance members are forging new ties.
@ Newshounds News™
Source: Watcher Guru
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INSTITUTE OF PEACE’ DELETED ONE TERABYTE OF DATA TO COVERUP THEIR C----S, BUT DOGE FOUND IT… | Revolver
@ Newshounds News™
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Source: Dinar Recaps
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UK PRIME MINISTER SEEKING NEW US TRADE DEAL TO REMOVE TARIFFS
The United States took decisive action this week, announcing new 10% baseline tariffs on what President Donald Trump announced as the nation’s Liberation Day.’ Now, UK Prime Minister Keir Starmer is reportedly seeking a new US trade deal to remove the tariffs, according to a Washington Post report.
The announcement of new import taxes created a race to negotiate with the United States. Indeed, the economic policy saw Israel and India move swiftly to shift their duties on US goods in hopes of avoiding the reciprocal tariffs. Now, Starmer is looking to reduce tariffs placed on Britain through a new deal with the T------------------n.
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UK Prime Minister Keir Starmer Eyes New US Trade Deal Amid Trump’s Liberation Day Tariffs
The United States made headlines this week when US President Trump announced a brand new wave of tariffs on all trade partners with the country. Indeed, the move wreaked havoc on the US stock market. In the two days since, it drove the Dow Jones Index down more than 2,000 points.
Yet, the decision was made by the administration to balance a trade system that the president says has long been unfair. That effort took a key step forward on Friday. Specifically, UK Prime Minister Keir Starmer is seeking a new US trade deal to remove the newly imposed tariffs.
According to the recent report, Starmer is “ready to make major concessions to reach a deal even as other countries rush to the trade barricades with reprisal tariffs, boycotts, and outages.” The UK has already cut tariffs on some imported US goods. Moreover, they are even prepared to lower the British taxes paid by US tech companies.
“Every country is calling us,” Trump told reporters Thursday. “Now, they will do anything for us,” he added. Now, all eyes will be on where things go from here. The action has undoubtedly brought the world closer to a trade war. If deals can be struck, then the global economy may yet be able to avoid the worst of it.
@ Newshounds News™
Source: Watcher Guru
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BRICS: US DOLLAR PLUMMETS, GOLD TO SOAR IN BEST CASE SCENARIO FOR BLOC
The world got a rather surprising development this week when US President Donald Trump announced a new slate of Liberation Day tariffs. The move introduced a baseline 10% import tax on all trading partners, and the outcome has been dire. However, it may only help BRICS, as the US dollar has plummeted with gold set to soar in a best-case scenario for the alliance.
The collective has been outspoken in its continued pursuit of de-dollarization on a global scale. Throughout the last several years, the bloc has continued to seek out local currency promotion that lessened international reliance on the West. Moreover, it has fast-tracked its gold purchasing in what may pay off brilliantly amid the uncertain geopolitical climate.
US Dollar Drops as Gold Is Set to Surge in Best Possible Outcome for BRICS
At the start of his second term, US President Trump warned that the BRICS bloc would face 150% tariffs. Specifically, he sought to ensure the global reserve status of the US dollar and targeted any country engaging in efforts to undermine that. However, despite the conflict from the West, it may be the best possible outcome for the collective.
BRICS may be in a position to benefit as US President Trump’s Liberation Day tariffs have caused the US dollar to plummet, with the gold price set to soar. Indeed, Thursday saw the greenback fall to its lowest level in months as recessionary fears picked up.
JPMorgan Bank said that the country now faces 60% odds of facing a recession this year. Moreover, it combines with Deutsche Bank’s previous warning that the currency will face a “crisis of confidence” amid the new economic policy. Uncertainty in the global economic world means that gold will likely surge.
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The metal has been on a tear so far this year. Throughout the first three months of the year, it has surged to an all-time high above $3,000. Moreover, experts are expecting the winning ways to continue. Recently, HSBC raised its average gold price projection for 2025 to $3,015 and $2,915. Indeed, that was a notable increase from its previous forecast of a $2,687 high-end average price.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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