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De-dollarization is a new phenomenon that has been compelling nations lately to explore beyond the US dollar. As the US dollar decays, battered heavily with fierce Trump policies and agendas, major nations and alliances, including ASEAN, have now started to explore alternatives that help them stabilize their economy. In one such instance, ASEAN has now decided to deploy the route of diplomacy to embrace China over the US, as uncertainties spurred by US tariffs continue to loom on top of their heads. This news is, however, a damaging development for the US economy, as ASEAN trade with the US involves $3.8 trillion worth of exchange of money and services. Also Read: De-Dollarization: Bank of America Reveals Why ASEAN Is Ditching USD Two Ways ASEAN’s De-Dollarization Move Could Injure the US Economy 1. Reduced USD Demand Source: Watcher.Guru The ASEAN bloc has long been discussing ditching the US dollar. The plan was already in motion, as the block had discussed multiple times, to target ...

Coinbase CEO Brian Armstrong says the US economy would benefit if Congress adopts stablecoin legislation that allows users to earn on-chain interest. In a new post on the social media platform X, Armstrong says dollar-backed stablecoins are growing in popularity and could yield increased benefits for users as well as the US with changes to the law. As US lawmakers debate stablecoin legislation, Armstrong says the government should legalize on-chain interest for users. “Stablecoins have already found product market fit by digitizing the dollar and other fiat currencies, but we haven’t unlocked a critical piece of the puzzle for the average person, and the US economy, to reap the full benefits: on-chain interest… ‘On-chain interest’ is the ability of a stablecoin to function as a form of payment and directly deliver interest earned on reserve assets to the stablecoin holder, effectively an interest-bearing checking account.” Armstrong...

Donald Trump has recently taken to X (formerly Twitter) to promise an incoming plan to make the US the “crypto capital of the planet.” Indeed, the 45th President of the United States shared a video saying that an impending announcement would be coming Thursday afternoon. Trump’s 2024 re-election bid has firmly embraced cryptocurrencies. His ongoing campaign has recently debuted his own crypto platform, now rebranded as World Liberty Financial. The project was initially teased by Trump’s two sons. Now, it is set to be a major part of his election policies. Source: Sky News Also Read: Trump’s DeFiant Ones Crypto Venture: Game-Changer or Risky Bet? Trump Set to Announce Crypto Plan to Ensure US Leads the Sector The cryptocurrency market has been a major aspect of Donald Trump’s election campaign. He has leaned into crypto voters unlike any past candidate has. Moreover, he has expressed a focus on the asset class and America’s position in its ongoing deve...

The U.S. dollar is now attracting stiff competition from the constantly evolving multipolar currency narrative. With the BRICS ditching the U.S. dollar officially, it seems that the new world order is emerging, where local currencies are now reigning supreme. Joining in the queue are the latest ASEAN members, the robust ten-country power pact, which may hamper some of the US dollar prospects if they decide to join forces with the leading world allies. Also Read: US Dollar: Here’s Why The Idea Of De-Dollarization Is A Big Fat Lie Multipolar Concept Shaping the World Source: iStock The murmurs of ASEAN dumping the U.S. dollar earlier caught pace in 2023 when the countries contemplated embracing local currency narratives to promote regional supremacy. The ASEAN nations, which comprise Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, had earlier conducted a meeting to end their reliance on the USD, Euro, Yen, and B...

In a new and interesting development, China is getting rid of a record amount of US Treasury and agency bonds. The nation’s decision to move away from US bonds stems from the ongoing trade tensions that are pivotal in straining the US-China trade relationship.  Also Read: BRICS: China’s Gold Buying Spree to End the US Dollar? China-US Trade Tensions: Details Source: Finbold The trade tensions between China and the US seem to have adopted a stricter stance. China has recently conducted $260 billion worth of trade with Russia without using the USD. This indicates a potentially strained outlook for China towards the US, which is playing an elemental role in helping China offload the USD.  The data from the US Treasury reveals that China has sold nearly $53.3 billion of treasuries and agency bonds in Q1, indicating the nation’s dubious stance towards the US dollar. Belgium, often dubbed a custodian of Chinese holdings, has also shed nearly $22 billion...

The US economy is inching towards an encapsulating death spiral. The United States government’s interest expense metrics are breaching new levels, crossing past the $1 trillion mark. This could eventually spell trouble for the nation as a whole, triggering a potential economic collapse. The new surging levels of GIE are indicative of the interest that the US government has to pay on its mounting debt. If the metrics continue to rise, it could potentially trigger a complete market shutdown in the nation, spreading mayhem across leading financial and administrative verticals.  Also Read: Why Is The US Economy Heading Toward a Death Spiral? US Government Interest Expense to Reach $1.7 Trillion by 2025 Source: Market Realist The mounting US debt metrics are showing no signs of a possible slowdown. Per a new Analysis , the government interest expense, which is a significant marker documenting interest paid on debt, is poised to hit $1.7 trillion by 2025.  ...