Last week of March 2023 - News Summary

[Mic Drop]

Weekly Recap

1) Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.

2) China and France complete first LNG gas trade using Chinese Yuan, ending reliance on the US dollar for energy trades.

3) China and Brazil to settle trades in their own currencies, ditching the US dollar.

4) Brazil, Russia, India, China, and South Africa (BRICS) are developing a new currency, State Duma Deputy Chairman says.

5) Saudi Arabia partners with China to build a Chinese oil refinery for 83.7 billion yuan ($12.2 billion).

6) Kenya signs deal with Saudi Arabia and UAE to buy oil with Kenyan shillings instead of US dollars.

7) President of Kenya tells citizens to get rid of US dollars.

8) Association of Southeast Asian Nations considers dropping the US dollar, euro, yen, and British pound for local currency financial settlements.

9) El Salvador President officially signs bill eliminating all taxes on income, property, and capital gains for technology innovations.

10) US Senator Elizabeth Warren launches "anti-crypto" re-election campaign.

11) India to settle trade in Indian rupees with certain countries instead of US dollars, Commerce Secretary says.

12) Chinese yuan surpasses the euro to become Brazil's second-largest currency in foreign reserves.

13) US government to sell 41,500 #Bitcoin  ($1.18 billion) connected to Silk Road, in four batches this year.

14) Hong Kong regulators to assist #crypto firms with banking in effort to become a digital asset hub.

15) #Binance and CEO sued by US CFTC over alleged regulatory violations

16) US Social Security funds are projected to run out by 2033, Reuters reports.

17) 5 major banks raided by French authorities in €100 billion fraud investigation

18) Former President Trump says President Biden is directly responsible for the bank failures and creating an economic catastrophe that will only get worse.

19) MicroStrategy purchases an additional 6,455 #Bitcoin ($150 million).

20) President Biden says the banking crisis is "not over yet."

[Mic Drop]