DeFi News Daily Official TheBitTimes.com

There is no shortage of geopolitical tensions brewing amid the inauguration of the newest US president. However, those issues appear no closer to a resolution. Indeed, US President Donald Trump is reportedly set to issue reciprocal tariffs, according to a Reuters report. Specifically, the Western nation is set to impose additional import taxes to match those that are imposed by other nations. The decision continues a potential cycle of retaliation stemming from the 25% tariff issued by the new administration last week. To this point, the country has tariffed China, Mexico, and Canada while delaying the tax on the latter two. JUST IN: President Trump to issue reciprocal tariffs to match those imposed by other countries. — Watcher.Guru (@WatcherGuru) February 7, 2025 Also Read: BRICS: Trump Tariff to Trigger Economic Crisis and Diplomatic Disputes? Donald Trump to Announce New Tariffs This Week During his campaign for reelection, Donald Trump was firm in his belief in the institution of...

Late January and early February 2025 have proven turbulent for both the cryptocurrency and the stock market. China’s novel DeepSeek artificial intelligence (AI) model was the first to generate strong headwinds as it marked the entry of a new and powerful competitor to a sector otherwise dominated by American big tech. The other, more recent shock arose ‘on-shore’ as the financial markets reacted swiftly and violently to President Donald Trump’s tariff order that targeted partners and allies with more severe restrictions – 25% on trade with Mexico and Canada – and less severe on countries marked as ‘foreign adversaries – 10% on China. Bitcoin (BTC) experienced one of the strongest reactions as it plunged from highs above $105,000 on January 31 to its press time price of $95,759, though it also saw an even lower low earlier on February 3 when it collapsed below $93,000 before retracing from the support zone as buyers stepped in. ...

1. Bitcoin White Paper’s 16th Anniversary on October 31 link October 31 marks the 16th anniversary of the Bitcoin whitepaper’s release. On this date in 2008, Bitcoin’s mysterious and anonymous creator, Satoshi Nakamoto, introduced the world to this cryptocurrency and its applications. The nine-page paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” laid out the foundational structure of the Bitcoin network. 2. CZ Attends Binance Blockchain Week, Expresses No Interest in Returning as CEO link On Thursday, CZ made an appearance at the Binance Blockchain Week event and delivered a keynote speech. He stated that he has no intention of returning to his role as Binance CEO and is currently focused on two main areas: education and investment. His investments span blockchain, AI, and life sciences. CZ also shared that life in detention was “not good,” as he had no freedom, but he gained new perspectives. He humorously noted that some guards asked him which cryptocurrencies to buy...

BRICS member China is rapidly increasing its trade deals with Australia despite having political fallouts for over a decade. The latest data shows that Australia’s trade with China has touched a record high of $145 billion in 2023. This is for the first time the trade between the two countries increased after the COVID-19 pandemic. Before the lockdowns, Australia’s trade with China stood at $168 billion in 2019. Also Read: Russia Makes Major Announcement About BRICS Currency The development indicates that BRICS member China and Australia’s trade deals are recovering from the slump. The recovery in trade between the two countries is particularly driven by iron ore. Australia’s top export from China is iron ore and the metal’s prices are surging following a rebound in services in the travel and tourism sector. Therefore, BRICS member China has an upper hand in supplying iron ore to Australia making trade deals worth billions. Also Read: 21 Coun...

A former Chinese takeaway worker living in the UK has been accused of laundering bitcoin from a $6.3 billion China-based fraud by converting it into property and luxury goods. As reported by the Financial Times, 42-year-old Jian Wen has been charged with three counts of money laundering. She is accused of converting bitcoin on behalf of Yadi Zhang, real name Zhimin Qian, who allegedly stole $6.3 billion worth of funds through investment fraud. Zhang allegedly stole from 128,000 investors in China between 2014 and 2017 before authorities began pursuing her. It’s reported that she fled the country in 2017, converted the funds into bitcoin, flew to London, and adopted a false identity. She subsequently fled the UK and remains at large. Prosecutors claim Wen kept Zhang out of focus by acting as her “front person,” helping convert bitcoin into various luxury items, cash, and property “to disguise the true source of the funds.” Wen denies the charges, claiming she was Zhang’s car...

Four Chinese nationals and a Lao citizen were arrest ed over their role in a crypto currency fraud that caused victims 2.7 billion Baht (approximately 76 million) worth of losses. The Cyber Crime Investigation Bureau (CCIB) of Thailand shared that at least 3,280 people have fallen victim to this crypto currency scam, with reports occurring since November 2022, The Bangkok Post reported. Not just one case of fraud Victims were said to being approached by strangers or foreigners who invited them to invest using foreign mobile apps and other online platforms, promising a high return on investment. Pol Col Kissana, the spokesperson for the CCIB, shared that many victims invested their life savings into this scam, even taking out a second mortgage on their land or home. The investigation found that several of the people running the fraudulent website (bchgloballtd.com) were also linked to other fake platforms. With support from Homeland Security Investigation and other law enforcement ...