The 17th BRICS Summit, set for July 6-7 in Rio de Janeiro, is expected to announce a new precious metals exchange, challenging Western-dominated markets like the London Metal Exchange. Proposed by Russia in 2024, the exchange would enable BRICS members—now expanded to include Iran, Saudi Arabia, and others—to trade gold, silver, and platinum group metals independently. This aligns with the bloc’s de-dollarization push, including plans for BRICS Pay and a potential gold-backed currency. However, challenges like infrastructure, liquidity, and potential Western sanctions loom. If successful, the exchange could reshape global commodities trading and reduce reliance on U.S. financial systems.
about BRICS to Launch Precious Metals Exchange in Rio Summit
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Generated 0 posts last week Ethiopia Secures $3.5B Debt Restructuring Deal
Ethiopia has finalized a memorandum of understanding (MoU) with its official creditors to restructure its outstanding loans, offering relief on more than $3.5 billion in debt. This agreement marks a critical step in the country’s efforts to stabilize its economy and manage its financial obligations. The debt treatment plan is expected to ease fiscal pressures and support Ethiopia’s economic recovery amid global financial challenges. The deal underscores the growing trend of debt restructuring in emerging markets facing liquidity constraints.
about Ethiopia Secures $3.5B Debt Restructuring DealBRICS Hits $1 Trillion in Trade, Eyes New Global Economy
The BRICS alliance, comprising Brazil, Russia, India, China, South Africa, and newly added members like Iran and the UAE, has reached $1 trillion in internal trade, signaling its growing economic clout. The bloc is prioritizing local currency transactions, payment platform development, and trade facilitation. Additionally, discussions around a gold-backed common currency highlight efforts to reduce reliance on the US dollar, though de-dollarization is not yet a unified goal. With 10 partner countries also engaging, BRICS is positioning itself as a key player in global economic restructuring.
about BRICS Hits $1 Trillion in Trade, Eyes New Global EconomyTRX Hits Record Monthly Transfer Volume Amid Market Surge
In May 2025, TRX, Tron’s native token, set a record monthly transfer volume of 490.3 billion TRX ($132.4 billion), marking a 34% increase from April. The surge reflects strong user engagement and network demand, with TRX demonstrating price resilience and low-risk appeal. Despite brief selling pressure due to market volatility, TRX recovered to $0.27, helping Tron surpass Cardano as the ninth-largest cryptocurrency by market cap ($26 billion). Additionally, Tron dominated stablecoin activity in Latin America (Colombia, Ecuador, Brazil) and Africa (Egypt, Ethiopia, Ghana), even outpacing Ethereum in transaction volume. This growth underscores Tron’s expanding global adoption and utility in cross-border settlements.
about TRX Hits Record Monthly Transfer Volume Amid Market SurgeBRICS Eyes XRP for Gold-Backed Dollar Alternative
For over a decade, BRICS nations have sought to diminish their dependence on the U.S. dollar, and recent rumors suggest they may turn to Ripple’s XRP for a gold-backed financial system. Designed for speed and scalability, XRP could facilitate seamless cross-border transactions, bypassing the slow, costly SWIFT network. The idea gained traction in 2023 and resurfaces as BRICS explores blockchain alternatives ahead of their 2025 summit. Meanwhile, XRP’s price rises amid speculation, trading at $2.43. The move reflects a broader shift as emerging economies seek financial sovereignty and modernized infrastructure.
about BRICS Eyes XRP for Gold-Backed Dollar AlternativeEthereum Foundation Grants $32.65M for Ecosystem Growth in Q1 2025
The Ethereum Foundation distributed $32.65 million in grants during Q1 2025 via its Ecosystem Support Program (EFESP), targeting key areas like community education, cryptography, and Layer 2 solutions. The largest share went to ‘Community and Education’ (37 projects), including ETH conferences and developer bootcamps. ‘Cryptography and Zero-Knowledge Proofs’ received the second-highest funding (16 projects), advancing ZKP tools and post-quantum security. Other categories included consensus layer improvements, developer tooling, and execution layer optimizations. The announcement coincided with Ethereum’s Pectra upgrade, which introduced 11 EIPs, and aligns with Vitalik Buterin’s focus on L1 scalability and decentralization.
about Ethereum Foundation Grants $32.65M for Ecosystem Growth in Q1 2025Phoenix Group Expands Bitcoin Mining in Ethiopia to 132 MW
Phoenix Group has significantly increased its Bitcoin mining footprint in Ethiopia, adding 52 MW to reach a total of 132 MW in the country. The expansion, powered by clean hydropower, aligns with the firm’s strategy of securing energy-rich locations for sustainable mining. Globally, Phoenix Group’s capacity now exceeds 500 MW. The 52 MW site will be developed in two phases, with the second phase expected to be completed by Q2 2025, boosting hashrate to 2.4 exahashes per second. Phoenix Group, which went public in late 2023, has seen rapid growth, including a $187 million mining equipment acquisition and a partnership with Tether for a UAE dirham-pegged stablecoin. The firm’s shares have shown strong performance since its IPO, reflecting investor confidence in its large-scale mining initiatives.
about Phoenix Group Expands Bitcoin Mining in Ethiopia to 132 MWCardano (ADA) Price Could Surge 10x by 2025: Analysts
Analysts are forecasting a 10x surge in Cardano (ADA) price by 2025, driven by bullish technical indicators like MACD and Ichimoku Cloud signals. Institutional adoption, ecosystem growth, and treasury discussions for stablecoin liquidity further support this outlook. Despite recent whale sell-offs and a 17% weekly drop, ADA has rebounded with a 12% daily gain. Key factors include partnerships (e.g., Ethiopia), the Lace Wallet launch, and breakout patterns suggesting a 27% short-term move. Leading analysts project ADA could reach $5–$7, citing technological advancements and DeFi expansion.
about Cardano (ADA) Price Could Surge 10x by 2025: AnalystsPetrobras Transforms Flaring Gas into Energy for Bitcoin Mining
Petrobras is harnessing flared gas from oil extraction to power its Bitcoin mining operations, aiming to enhance energy efficiency and reduce carbon emissions. Collaborating with research institutions, the initiative seeks to transform waste gas into a profitable resource while exploring blockchain technology applications. If successful, this project could set a precedent for other energy companies and bolster Brazil’s reputation in sustainable crypto adoption.
about Petrobras Transforms Flaring Gas into Energy for Bitcoin MiningEthiopia relaunches stock exchange to attract investors and boost economy
Ethiopia has relaunched its stock exchange after a 50-year hiatus, marking a significant milestone in its economic landscape. Prime Minister Abiy Ahmed emphasized the potential for investment in the fast-growing economy, with Wegagen Bank becoming the first listed company. The exchange features a 75% allocation for private investors and aims to attract foreign direct investment, despite ongoing security challenges in the country.
about Ethiopia relaunches stock exchange to attract investors and boost economyNational Day of Mourning for Former President Jimmy Carter
Former President Jimmy Carter passed away on December 29, 2024, at the age of 100, marking a National Day of Mourning on January 9, 2025. Flags are flown at half-staff in his honor, and federal offices, including the Supreme Court, will be closed that day. A national funeral service is scheduled at the Washington National Cathedral, attended by all living former presidents.
about National Day of Mourning for Former President Jimmy CarterEthiopia Launches New Stock Exchange to Attract Investors
Ethiopia is set to launch its stock exchange after a 50-year hiatus, aiming to attract investors amid ongoing regional challenges. Ethiopia Investment Holdings plans to raise up to 30 billion birr ($234 million) through an initial public offering of shares in Ethio Telecom, marking the exchange’s debut. The government also intends to list additional state-run companies in the future.
about Ethiopia Launches New Stock Exchange to Attract Investors