Thursday, September 28, 2023

We’ve witnessed an exciting week full of significant events in the financial and crypto sectors, and as we embark on July, it’s time to delve into key happenings: the discovery of compromised ChatGPT accounts being traded on darknet platforms, an impressive rise in Bitcoin Cash’s hashrate following its price surge, a North Korean expert’s perspective on the diminishing dominance of the U.S. dollar, among others. Welcome to the News Weekly Recap.

North Korean Expert Signals Quickening Decline in Dollar Dominance — Views BRICS as a Challenge to US Supremacy

A North Korean expert has issued a warning that US actions aimed at limiting dollar use, coupled with an increasing interest of countries in joining the BRICS bloc, are contributing to the “quickening” decline of the USD’s global supremacy.

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Turkish Lira Crashes to All-Time Low a Day Following Central Bank’s Interest Rate Reversal

In less than a day after the central bank’s first interest rate hike since 2021, the Turkish lira dropped to 25.74 per dollar. Despite the rate hike decision being largely expected, the implemented increase failed to reach the 21% some analysts had anticipated.

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Bitcoin Cash Hashrate Gains Ground: Miners Swarm to BCH as Profitability Skyrockets

Over the previous two weeks, bitcoin cash has witnessed a notable increase, surging 182% against the U.S. dollar and enticing an increased hashrate to its network. Around 22 bitcoin cash mining pools are presently assigning SHA256 hashrate to the chain since BCH mining is now 2.7% more profitable than BTC.

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Darknet Markets Found With Over 100,000 Breached ChatGPT Accounts

Cybersecurity experts have unearthed numerous devices storing ChatGPT credentials that have been compromised by information-stealing malware. The account information has reportedly been sold on the dark web, with Asia-Pacific leading in the number of such offerings.

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Understanding De-Dollarization: A Look at the Shift Away from the Global Dominance of the US Dollar

The concept of de-dollarization has gained substantial momentum from the second half of 2022 through 2023, leaving a significant imprint on mainstream media. This increased attention is largely due to the collective efforts of BRICS nations like Brazil, China, and Russia, striving to lessen the greenback’s dominance. Although a prevailing belief implies that the global reserve status of the U.S. dollar is nearing its end, some counterarguments suggest the de-dollarization hype may be overstated.

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What’s your take on the news this week? Do you have any predictions for the price and hashrate of bitcoin cash in July? Don’t hesitate to share your thoughts in the comments section below.

Frequently Asked Questions (FAQs) about Crypto News Recap

What events are highlighted in this week’s financial and crypto recap?

This week’s recap focuses on the sale of compromised ChatGPT accounts on darknet platforms, the devaluation of the Turkish lira following an interest rate hike, an analysis from a North Korean expert regarding the decreasing dominance of the U.S. dollar, and a notable surge in the hashrate and value of Bitcoin Cash.

Who provided an analysis on the declining dominance of the U.S. dollar?

A North Korean analyst provided an expert perspective, warning that the U.S. dollar’s global dominance is experiencing an accelerating decline due to restrictive U.S. policies and increasing interest in the BRICS bloc.

What is happening with Bitcoin Cash’s hashrate and price?

In the past two weeks, Bitcoin Cash’s hashrate and price have experienced significant increases. The hashrate has attracted more mining pools as BCH mining becomes more profitable, and the price has surged 182% against the U.S. dollar.

What cybersecurity issue was uncovered?

Cybersecurity researchers discovered that over 100,000 compromised ChatGPT accounts are being sold on darknet markets. This information was typically stolen through malware, and the Asia-Pacific region leads in the number of such offerings.

What is de-dollarization and why is it gaining attention?

De-dollarization is the process of countries shifting away from the U.S. dollar as the world’s dominant currency. It has gained attention in recent years due to efforts from BRICS countries to reduce the greenback’s global dominance. Despite this, some argue that the hype around de-dollarization may be overstated.

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