@d12321 27 August 2023

#end of the week Binance has begun to include sanctions for the Russian Federation, Tether publishes fakes, and BRICS has a large-scale replenishment. Summing up the week - 🐳 💎 Cryptocurrencies 1️⃣ The Ministry of Justice is investigating the violation by the Binance exchange of US sanctions against the Russian Federation. The exchange itself stated that it always complied with everything, but then, surprisingly, it first began to hide Russian sanctioned banks on the P2P platform, and then completely banned all currencies except the ruble for Russians. Binance stirred, because the Ministry of Justice is not the SEC and not the CFTC, these can open a criminal case with all the ensuing consequences. And CZ is definitely not needed, like the whole crypto market 😳 2️⃣ Tether reported 100% USDT backing and a reserve fund of $3.29 billion. And everything would be fine, but then the picture was spoiled by fake photos of a mining center for $250 million. And now the community has a question, if the miners from Tether are not real, then maybe everything is not as smooth with their reserves as they say 😱 3️⃣ 🔸 A Chinese official received a life sentence with confiscation for taking bribes from miners. He was still lucky, for bribes in China you can visit the execution. In general, this is the best demonstration of what China's plans for cryptocurrencies are. And it's definitely not about native 🙃 🪙 Financial news 1️⃣ The head of the Fed scared the markets with his plans to bring inflation to 2%, for which he is not opposed to continuing a tight monetary policy. This time it was over quickly and the S&P 500 turned green again because Powell didn't say anything unexpected. We will find out what the Fed will actually do on September 13, when inflation data for August is released 🧐 2️⃣ The Central Bank of Turkey sharply raised its key rate by 50 bp. n. up to 25%. We can say that this is the end of Erdogan's economic experiment, when inflation was fought with low rates. But this is only the first impression, if the high rate does not play out (which is already evident from the rate of the lira), then Erdogan can turn on the leader again and move the Central Bank away from managing the economy. We have already seen what this can lead to... 😬 3️⃣ Iran, Saudi Arabia, Argentina, UAE and Egypt received an invitation to BRICS. If the Saudis and the UAE looks like a strong replenishment, then Iran, Argentina and Egypt, where inflation is 40-60% and this is official data, are such an acquisition. Remember that BRICS does not have any official status, it is not NATO or even the EU. It's just that China is gathering an interest club to expand its own influence. And most importantly, almost no specifics about the new currency in the form of a killer dollar. The yuan is not ready for this yet, and China does not need another currency 😇