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BRICS To Replace US Dollar With Cryptocurrency for Trade

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BRICS To Replace US Dollar With Cryptocurrency for Trade

According to a recent statement from the Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov, the BRICS bloc is working to replace the US dollar with cryptocurrency for trade. Indeed, Aksakoc discussed the alliance’s work to utilize digital assets in place of fiat currency for international transactions.

The economic alliance has long embraced its de-dollarization initiatives, along with the promotion of its local currencies. Subsequently, the development of digital currency solutions has been a priority since the arrival of its BRICS Pay system. Now, those efforts are set to carry the b loc toward a dollar-less future.

US Dollar notes
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Also Read: BRICS To Announce Membership of New Countries in 2024

BRICS Bloc to Utilize Digital Assets in Place of the Dollar in Trade

Throughout the last year, the BRICS bloc has embraced its opportunity to create a multipolar world. Its five-nation expansion effort enacted at its 2023 annual summit was one of the key pillars of that. However, so too is its commitment to the further embrace of local currencies in unilateral trade dealings.

Now, the alliance is taking a clear step forward in that regard, as the BRICS bloc is seeking to replace the US Dollar with cryptocurrency for international trade. Indeed, Russia stated that the bloc represents a “serious channel to replace fiat currencies in international transactions.”

What makes the prospect of this all the more interesting for the collective is that they appear committed to developing their own Central Bank Digital Currencies (CBDC) for which to substitute with fiat. Alternatively, the United States has been clear on its stance against such a project in the West.

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Also Read: BRICS: Major Update On Russia’s Economy Announced

Altogether, these projects should provide a clear opportunity for the BRICS bloc to continue to de-dollarize. Moreover, Russian Deputy Foreign Minister Sergey Ryabkov has recently discussed the development of new platforms for financial dealings. Specifically, these would support the presence of increased digital assets as opposed to fiat offerings.

Ryabkov discussed the “option of creating a platform that would unite the financial systems” of the BRICS members. What he called a “BRICS Bridge” would require stablecoins or other digitized currency forms. This would integrate a clear way for the ten BRICS countries to de-dollarize.

However, it would also increase concern with the US dollar being absent from any international dealing with the alliance members, and nations seeking to embrace such unilateral trade.

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1 Artificial Intelligence (AI) Stock With More Potential Than Any Cryptocurrency | The Motley Fool

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1 Artificial Intelligence (AI) Stock With More Potential Than Any Cryptocurrency | The Motley Fool

Crypto is stumbling while AI is advancing.

We’re in one of those times when market players are shunning crypto investments. Factors such as persistent inflation, a declining likelihood of interest rate cuts (typically a major catalyst for crypto price pops), and outflows from once-hotly popular crypto exchange-traded funds (ETFs) have put the hurt on even the most prominent digital coins and tokens.

Given that, it’s worthwhile to consider another high-potential technology — artificial intelligence (AI). Despite huge growth opportunities ahead, AI has also taken it on the chin lately as well. It still has a bright future, and I believe investors can still hop on this train with a company that’s not a pure play, but one deeply — albeit not exclusively — involved in the technology.

Read on to see what AI giant I believe can outpace even the most popular cryptocurrencies.

Image source: Alphabet.

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Alphabet is advancing AI

That company is none other than Google owner Alphabet (GOOG +0.68%)(GOOGL +0.68%). Although it’s still known, with some justification, as a search engine operator, the company has been neck-deep in AI for years. It’s developed both hardware and the large language models (LLMs) powered by it, and it clearly aims to be a top name in this technology.

I have no doubt it can succeed. Google’s AI component Gemini is now fused into the company’s search and many other features (like Google Mail). This makes it a convenient option for web searchers querying for more than basic information on a subject. Its functionalities are also integrated into offerings like Google Docs, where users can harness AI to help with their writing. The Gemini platform itself is a hot item, with a monthly active user count now topping 750 million.

On the hardware front, Alphabet is not only actively developing and deploying Tensor Processing Units (TPUs) — chips designed to power AI functionality — it invented them. Originally designed to bolster the company’s AI capabilities, the processors are now being sold to external customers, opening another revenue stream.

Alphabet Stock Quote

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$313.03

AI is a growth catalyst for Alphabet

Alphabet doesn’t break out the revenue it derives from AI hardware and services, so we can’t put a precise number on how much the technology is bringing in for the company.

Still, it’s clearly foundational these days — the phrase “AI” was mentioned 94 times during management’s fourth-quarter and full-year 2025 earnings conference call. And the tech giant stated in the accompanying earnings release that “We’re seeing our AI investments and infrastructure drive revenue and growth across the board.”

Alphabet’s two main revenue buckets, Google Services and Google Cloud — both of which feature AI-enhanced products — have seen robust increases. The former’s revenue grew 14% year over year during the quarter to almost $96 billion, while the latter’s skyrocketed 48% to just under $18 billion.

The numbers don’t lie. Even if the economy slows or inflation remains stubborn, demand for Alphabet’s impressively large suite of AI products and services will remain strong. I’d feel much more confident parking my money in this AI stock than gambling it on a wobbly cryptocurrency.

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Truist Wealth Expands Investment Solutions With Cryptocurrency

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Truist Wealth Expands Investment Solutions With Cryptocurrency

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Florida man arrested in $328M cryptocurrency Ponzi scheme: DOJ

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Florida man arrested in 8M cryptocurrency Ponzi scheme: DOJ

A 34-year-old Florida man, who served as the president and CEO of an alleged cryptocurrency investment firm, has been accused of running a $328 million Ponzi scheme, according to the U.S. Department of Justice.

Christopher Alexander Delgado, of Apopka, Florida, was arrested on federal charges of wire fraud and money laundering, the DOJ announced on Tuesday.

The backstory:

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According to the DOJ, Delgado was the CEO and founder of Goliath Ventures, formerly known as Gen-Z Venture Firm.

The DOJ alleges that Delgado convinced people to invest a total of $328 million with his firm between January 2023 & January 2026 under the assumption that it would be invested in cryptocurrency “liquidity pools” – and would promise monthly returns.

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The DOJ alleges that the money was instead used to pay returns and principals to previous investors, as well as to pay for lavish business gatherings, holiday parties, and to buy four multi-million-dollar homes (varying in cost between 1.15M and $8.5M).

“Victims were induced to give money to Goliath through personal referrals, professional marketing materials, luxury events, charitable sponsorships, and some monthly payments of purported returns, all of which were designed to establish Goliath’s bona fides with investors,” the DOJ said in a news release.

If convicted, Delgado faces up to 30 years in federal prison, the DOJ said.

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According to the complaint, Delgado bought four homes:

  • $3.2 million home in Winter Park in July 2025
  • $1.15 million home in Kissimee in December 2024
  • $8.5 million home in Windermere in September 2025
  • $1.65 million home in Sanford in August 2024

Victim: Lost $720,000

According to the complaint, one unnamed investor reportedly lost $720,000 in Delgado’s alleged scheme. A second investor was reportedly able to get his money back, though he had to directly contact Delgado to ensure he did. The amount of money returned in the second example was not disclosed.

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What you can do:

The DOJ said anyone who thinks that they could have been a victim of Delgado’s business to email Goliathvictims@ci.irs.gov. Or to visit this website.

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The Source: The DOJ announced the arrest of Christopher Alexander Delgado in a news release on Tuesday. 

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