It’s been an action-packed week in the world of finance and crypto, and moving into July, there’s a lot to cover to get up to speed: compromised Chatgpt accounts being sold on darknet markets, Bitcoin Cash’s hashrate shooting upward with the BCH price, a North Korean analyst weighing in on threats to U.S. dollar dominance, and much more. This is the Bitcoin.com News Week in Review.
North Korean Analyst Warns of Accelerating End to Dollar Dominance — Says BRICS Poses Challenge to US Hegemony
A North Korean analyst has cautioned that the actions taken by the U.S. to restrict the usage of the dollar and the growing interest of countries to join the BRICS bloc are “accelerating” the decline of the USD as the world’s dominant currency.
Turkish Lira Plunges to Record Low a Day After Central Bank’s Interest Rate Policy U-Turn
The Turkish lira fell to 25.74 per dollar just under a day after the central bank hiked interest rates for the first time since 2021. Although the rate hike decision was widely anticipated, the increase still fell short of the 21% that some analysts had predicted.
Bitcoin Cash Hashrate Gains Momentum: Miners Flock to BCH as Profitability Surges
Over the past two weeks, bitcoin cash has experienced a significant surge, increasing 182% against the U.S. dollar and attracting more hashrate to its network. Approximately 22 bitcoin cash mining pools are now allocating SHA256 hashrate to the chain as BCH is currently 2.7% more lucrative to mine compared to BTC.
Over 100,000 Compromised Chatgpt Accounts Discovered on Darknet Markets
Cybersecurity researchers have found tens of thousands of devices storing Chatgpt credentials that have been infected with info-stealing malware. The account details have ended up being sold on the dark web, they said, pointing out that the Asia-Pacific leads by number of such offers.
What is De-Dollarization? Exploring the Shift Away From the US Dollar’s Global Dominance
From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries such as Brazil, China, and Russia, who are endeavoring to diminish the dominance of the greenback. Although a prevailing sentiment suggests that the U.S. dollar’s global reserve status is on the brink of dissolution, there are dissenting voices asserting that the hype surrounding de-dollarization has been exaggerated.
What are your thoughts on this week’s stories? Where do you think the price and hashrate of bitcoin cash will go in July? Be sure to let us know in the comments section below.