Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s chairmanship. 34 Countries Show Interest in BRICS, Putin Says Russian President Vladimir Putin said on…
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Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting geopolitical landscape as an opportunity to strengthen ties with both Eastern and Western nations while remaining committed to NATO. Erdogan emphasized…
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The Brazilian Supreme Court ordered a nationwide ban on X after a prior order mandating the social platform to assign a local representative was ignored. Brazilians began to lose access to the site on Saturday, as the Supreme Court prohibited citizens from using virtual private network (VPN) software to circumvent the blockage, establishing fines of…
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The price of frozen concentrate orange juice futures contract has reached all-time high numbers this month, hitting 514.65¢ per lb and setting the stage for retail prices to skyrocket. The commodity, made famous by its part in the “Trading Places” film, is expected to keep rising due to climate factors and Brazil’s worst orange harvest…
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X’s Global Government Affairs Team reported on August 17 that the social network would be forced to shut down its local operations in Brazil due to judicial orders issued against its legal representative. The order, issued by Alexandre de Moraes, a member of the Supreme Federal Tribunal, would have this legal representative facing jail time…
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Binance, one of the largest cryptocurrency exchanges in the world, has settled an administrative procedure with the CVM, the securities regulator of Brazil. The exchange proposed to pay 9.6 million Brazilian reais (approximately $1.75 million) to resolve a case involving the irregular offering of derivatives, including futures contracts and options, dating back to 2022. Binance…
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The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored the importance of economic self-reliance and the challenge to Western…
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Mercado Bitcoin, one of the largest Brazil-based cryptocurrency exchanges, has launched a loan product allowing users to receive credit in Brazilian reais secured by crypto collateral. The credits will be limited to 30% of the total held in crypto in the exchange, and liquidations will not be automatically executed, being examined on a case-by-case basis…
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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the last week. In this issue: El Salvador holds talks with the IMF despite its Bitcoin allegiance; Brazil greenlights the first Solana spot ETF; and Polymarket gets criticized for its decision on the Venezuelan presidential election bet. El Salvador…
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A recent report by Coinwire, a cryptocurrency research portal, predicts that cryptocurrency adoption levels in Latam will more than double in 2024. The report, which examined trading movements on trusted centralized exchanges according to Coingecko, forecasts that crypto trading volumes in the region will reach $7.82 trillion in 2024, with Brazil and Chile being the…
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