Hey hey guys! We got some nice news about the US economy today along with crypto. We try hard everyday to bring to you the latest news so you can stay up to date on what is going on in Finance!

Here is the outline for the news today🔥

• 📈 XRP’s bull run incoming?

• 💻 Another DeFi Exploit!?

• 💵 De-Dolarisation accelerates.

Bullish for XRP?📈

The XRP market is experiencing bullish news as large investors, known as whales, have been actively accumulating millions of tokens over the past three weeks.

This surge in whale activity indicates a strong bullish sentiment towards Ripple's remittance token.

Prominent investors have acquired a total of 52 million XRP, which is worth over $22 million, during this accumulation period.

The trend of accumulation is primarily observed among XRP whales, particularly addresses holding 10 million to 100 million XRP.

Several factors may be driving this accumulation trend. Investors may be anticipating positive developments within the Ripple ecosystem, as well as seeking regulatory clarity surrounding Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

The price of XRP has seen a 1% gain over the past 24 hours and is currently trading at $0.47. This upward movement, coupled with the notable accumulation by whales, indicates renewed optimism and increased confidence in the future price appreciation of XRP.

Market participants and crypto enthusiasts are closely monitoring these developments, as they could potentially signal a shift in XRP's market sentiment.

The accumulation by whales suggests a positive outlook for Ripple's remittance token, but it's important to note that cryptocurrency investments carry inherent risks.

As the XRP market continues to evolve, it is advised for investors to stay informed about the latest news, regulatory updates, and market dynamics to make well-informed investment decisions.

Another DeFi Exploit?

Another unfortunate incident in the realm of decentralised finance (DeFi) has occurred, with a recent exploit leading to a potential loss of approximately 4,000 ETH, equivalent to $7.5 million at current market prices.

Oh boy, we wish we could have that sum of money.👀

The hack specifically targeted the liquidity platform known as Jimbos Protocol, highlighting a vulnerability related to the lack of slippage control in liquidity-shifting operations. This allowed the attacker to take advantage of a skewed or imbalanced price range, executing reverse swaps and generating illicit profits.

The team behind Jimbos Protocol is actively addressing the issue, conducting an investigation into the incident, and making efforts to establish communication with the individual responsible for the exploit.

Such security breaches are a sobering reminder of the risks associated with the rapidly evolving DeFi space.

It serves as a call to action for developers and users alike to prioritise robust security measures and conduct thorough audits to identify and rectify potential vulnerabilities.

PeckShield, a prominent security firm, may be involved in the investigation, providing expertise in analyzing and mitigating such breaches within the crypto ecosystem.

News of this exploit serves as a reminder to stay informed about the latest developments in the cryptocurrency market, particularly regarding security incidents. As the DeFi landscape continues to grow and evolve, maintaining vigilance and taking necessary precautions remain paramount.

De-Dollarisation Development Accelerates

The global landscape of financial reserves is undergoing significant changes as countries lose trust in US government bonds, driven by the unattractiveness of low yields offered by US treasuries.

This shift has motivated nations to explore alternative investment options.

De-dollarisation, a trend gaining momentum, rests upon two key foundations. Firstly, the unattractiveness of US treasuries has pushed countries to seek higher-yielding investments elsewhere.

Secondly, concerns over the potential seizure of reserves by the US government have fostered fears and prompted diversification efforts.

Countries have come to realise that their dollar reserves are vulnerable to the decisions of a few politicians in Washington. The permissioned nature of the US treasury and dollar market raises concerns about the possibility of assets being unilaterally seized if a country falls out of favour with the US government.

In response to these risks, many nations are actively considering reducing their reliance on the US dollar and treasuries.

The goal is to mitigate the potential consequences of having their funds frozen or confiscated. This trend is driven by a desire to establish greater control and reduce exposure to geopolitical uncertainties.

The underperformance of US T-bills, yielding less than inflation for a significant portion of the 2010s, has further fuelled the discontent with US treasuries.

Investors have sought better returns in assets such as equities and real estate, prompting a reassessment of the traditional safe-haven status of US government bonds.

The process of de-dollarisation has gained momentum over the past year, indicating a growing global shift away from the US dollar as a dominant reserve currency.

The macro guru Lyn Alden and other experts have highlighted these underlying foundations and the potential long-term implications for the global financial system.

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.