A crypto pact between <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/" rel="noopener noreferrer nofollow">China</a> and <a href="https://ultramining.com/news/en/russia-s-energy-ministry-charges-forward-to-legalize-crypto-mining/" rel="noopener noreferrer nofollow">Russia</a> could threaten <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/" rel="noopener noreferrer nofollow">US</a> dominance, introducing new security risks to the cryptocurrency market. Experts believe this cooperation could shift the global balance of power in the financial sector.
China is providing Russia with support through central bank digital currencies and the M-Bridge project to hedge against US sanctions. The US dollar's share in global reserves has dropped to lows unseen in decades, indicating a shift in the global economy.
The US plans to continue pressuring China over its support for Russia, especially in the context of cryptocurrency relations, to maintain its influence.

China-Russia Crypto Pact Threatens US Dominance

Ultramining_Eng

Other articles published on Oct 1, 2024

Join our free newsletter for daily crypto updates!