FameEX Morning Crypto News Recap | July 17, 2023

Robert Kiyosaki's Cautionary Tale: Imminent Massive Crash and Impending Demise of the US Dollar
Renowned author Robert Kiyosaki forewarns of an imminent catastrophic crash and the impending downfall of fiat currencies, particularly the US dollar. He urges investors to seek refuge in assets like gold, silver, and bitcoin, as he predicts the eventual extinction of the USD. Concurrently, the BRICS economic bloc is discussing the potential adoption of a gold-backed common currency.

Europe Anticipates Launch of First Bitcoin ETF Later this Month
Europe's inaugural bitcoin exchange-traded fund (ETF) is finally scheduled for launch in July, following a year-long delay caused by the cryptocurrency market downturn. Authorized in Guernsey, a jurisdiction known for its flexibility, the ETF aims to bypass certain regulatory hurdles associated with the European Union.

Weekly NFT Sales Decline by 4.33% as Bitcoin Burials NFT Sells for $1.68 Million
Non-fungible token (NFT) sales experienced a slight decline of 4.33% compared to the previous week, generating a total of $148.55 million. While Ethereum stood out as an exception, four out of the top five NFT blockchain platforms witnessed a decrease in sales volume week over week.

Ahead of G20 Summit, Yellen Advocates Ukraine Support as "Most Beneficial Action for the Global Economy"
Janet Yellen, the current U.S. Treasury secretary, asserted that supporting Ukraine is the most beneficial action for the global economy. She also urged caution in prematurely lifting trade restrictions on China, citing concerns about unfair trade practices. Yellen emphasized the importance of maintaining a stance of international economic fairness.

Former SEC Official Raises Concerns about Reversal in SEC v Ripple Ruling on XRP, Citing Uncertain Grounds for the Decision
The former head of internet enforcement at the U.S. Securities and Exchange Commission (SEC) cautioned that the SEC v. Ripple case ruling is precarious and expected to be overturned. He highlighted the imbalance in SEC protection, where institutional investors receive full protection while retail investors are left without any, calling it a concerning disparity.

Landmark Agreement between India and UAE Enables Trade Settlements in Rupees and Dirhams, Breaking Away from US Dollar Dominance
India and the United Arab Emirates (UAE) have reached a significant agreement to conduct trade settlements in their respective currencies, the rupee and dirham, moving away from reliance on the US dollar. During Indian Prime Minister Narendra Modi's visit to the UAE, the countries announced the integration of the UAE's Instant Payments Platform (IPP) with India's Unified Payments Interface (UPI).

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