Features News TheBitTimes.com

Since President Donald Trump’s exclusive dinner on May 22 for top holders of his meme coin, Official Trump (TRUMP), the token has recorded a steady outflow of capital. On the day of the event, TRUMP’s total market cap stood at $3.13 billion. In the lead-up to the dinner, the token had experienced a consistent inflow of capital, largely driven by whales competing for top positions. As of press time on June 11, the market cap has declined to $2.12 billion, a loss of approximately $1.01 billion. This equates to an average daily drop of about $50.5 million over 20 days. TRUMP one-month market cap chart. Source: CoinMarketCap TRUMP’s price has also suffered, falling nearly 30% since the event to trade at $11.08. TRUMP one-month price chart. Source: Finbold Since its controversial January launch, TRUMP has generally moved in tandem with the broader cryptocurrency market. However, the meme coin appears to have lost momentum, failing to rally a...

Taking a leaf straight from the BRICS playbook, Tanzania announced an official ban on the US dollar in local transactions. The Bank of Tanzania (BoT) has put a blanket ban on all foreign currencies in local transactions, and only the Tanzanian Shillings (TZS) is made legal tender. The ban comes after an influx of foreign currencies circulated the market for local transactions, leaving the TZS behind. Also Read: BRICS: Only 33% of Trade Settled in US Dollars Tanzania is inspired by the BRICS agenda of de-dollarization and is striving to keep the US dollar in the back seat. Individuals, traders, business owners, and large corporations in the country are not allowed to use the US dollar for transactions. The ban includes both receiving and sending foreign currencies, making it a legal offense to initiate the payments. Every individual, bank, and business entity must use the Tanzanian Shillings and not foreign currencies. “Under these Regulations, pricing and payment for all goods and...