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🌍🇺🇸 Top U.S. Africa Diplomat to Exit Post in July Troy Fitrell, acting head of the Africa bureau, will step down July 15 amid ongoing vacancy. His exit leaves a key Trump administration role unfilled ahead of rising regional priorities.

RT @adamamcbride: Hanging with the best AI in crypto w/ Troy Caylak

China lifted its foreign exchange reserves by $3.6 billion in May, pushing the total up to $3.285 trillion, based on new figures released by Beijing’s foreign exchange regulator on Saturday. That’s just a 0.11% increase from April’s $3.282 trillion and well below what was expected by analysts, who had forecast $3.292 trillion. This gain came even though the yuan lost 1.05% against the US dollar , and the dollar itself slipped 0.23% compared to other major currencies. The regulator said the rise came from a mix of exchange rate moves and price changes in overseas-held assets, according to data from Reuters . Even though the yuan got weaker, the value of China’s foreign holdings still moved up. The number was small, but the country remains in control of the world’s largest forex reserve pile. China’s central bank also wasn’t just sitting around watching the charts. While most of the world stayed frozen in wait-and-see mode, China kept stacking gold like a country preparing for something big. In May, the People’s Bank of China (PBOC) added 60,000 troy ounces to its already massive reserve, bringing the total to 73.83 million fine troy ounces. This is the seventh month in a row of non-stop gold buying. Gold prices went wild earlier this year, climbing to record highs in April. Central banks played a huge part in that spike, as they pumped billions into the metal to move away from over-reliance on the US dollar. The PBOC’s continuous buying has been a key force keeping gold prices high even after the April rally cooled off. At the same time, investors have also been pouring into gold as global tensions and fears about US assets grow louder. Goldman Sachs analysts estimate that central banks are currently swallowing up about 80 metric tons of gold per month. That’s $8.5 billion monthly, based on where prices are sitting right now. A lot of these transactions don’t make the headlines because they’re done quietly. Still, trade data suggests that China is behind a big chunk of that demand, along with unnamed players moving shipments through Switzerland. All together, central banks and sovereign wealth funds have been absorbing about 1,000 tons of gold annually. That’s 25% of yearly global production, according to the World Gold Council. An HSBC survey in January of 72 central banks showed that over a third of them plan to buy even more gold in 2025. Not a single one said they’re selling. Timur Suleimenov, the head of the National Bank of Kazakhstan, said they were selling last year but have now flipped. This surge in buying didn’t just happen out of nowhere. A lot of it started after the US and allies froze Russia’s foreign reserves in 2022 following its full invasion of Ukraine. That single move shook a lot of governments, who suddenly realized their dollars could be taken away overnight. Many are now doubling down on reserves they can keep close and untouched. “Gold is the safest reserve asset,” said Adam Glapinski, the governor of the National Bank of Poland. “It is free from direct links to the economic policy of any country, resistant to crises and retains its real value in the long term.” Adam’s not alone. Central banks that once dumped gold in the 1990s—like the ones in Canada, Switzerland, and the UK—are now watching other countries scoop up what they let go. After the 2008 financial crash, central banks started slowly increasing their gold stockpiles again. That pace exploded after Russia’s sanctions . But most of the action is now silent. Many buyers avoid publicly reporting how much gold they’re buying. Even when they do, it barely reflects reality. In 2024, only about a third of actual central bank gold purchases were publicly confirmed. Most banks still notify the International Monetary Fund when they adjust their gold holdings, but plenty don’t. Sovereign wealth funds also tend to keep their cards close to their chest. These days, nobody wants their reserves held hostage. Russia’s frozen money—mainly stuck in Euroclear, a clearing house based in Belgium—is still sitting there while some Western leaders now want to grab it to help Ukraine. That’s another reason gold stored inside a country’s own borders has become more attractive. Massimiliano Castelli, managing director at UBS Asset Management, said the dollar’s role in global reserves is likely to keep shrinking faster than before. That doesn’t mean countries can easily ditch the dollar—there isn’t enough high-quality debt in other currencies to absorb the change. But that’s where gold comes in again. It’s not just about risk. It’s about control. JPMorgan Chase analysts said that if just 0.5% of global US-dollar reserves are redirected into gold in the next few years, the price could shoot up to $6,000 per ounce by 2029. That’s more than double today’s levels. Hambro, from BlackRock, said: “The gold market is a big market, but the dollar market is enormous. A small amount moving from the dollar market to the gold has a big impact.” Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

The U.S. Securities and Exchange Commission (SEC) will hold a public roundtable on June 9, 2025, focused on decentralized finance (DeFi). The event, titled “DeFi and the American Spirit,” will take place at the SEC headquarters in Washington, D.C., and will be livestreamed online. This roundtable continues the agency’s “Spring Sprint Toward Crypto Clarity” series. The event will run from 1:00 PM to 5:00 PM ET and is open to both in-person and virtual participants. SEC Chair Paul S. Atkins will attend alongside Commissioners Caroline A. Crenshaw, Mark T. Uyeda, and Hester M. Peirce. Former Commissioner Troy Paredes will serve as moderator for the panel discussions. The list of speakers include: The event will explore how DeFi technologies relate to American values, including freedom, openness, and innovation. Panelists will examine how decentralized systems function without central intermediaries and how existing regulatory frameworks apply to them. They will also discuss the operation of peer-to-peer smart contracts, the challenges regulators face when enforcing securities laws in decentralized environments, and the legal risks connected to governance tokens and protocol control. Another key topic will be how investor protection laws interact with the design of DeFi systems. According to the SEC, the roundtable is intended to collect input from industry experts and the public, rather than to introduce new rules. After the panel discussion, the SEC will host a town hall session where audience members can ask questions. Online viewers can also submit questions by email during the live event. This public input segment is designed to give the SEC insight into how developers, legal experts, and users view the role of regulation in decentralized systems. This event is the fifth in a series of SEC roundtables targeting different aspects of the crypto industry. Previous events covered token listings, custodial services, decentralized exchanges, and stablecoin risks. The June 9 discussion comes amid rising pressure on regulators to clarify how U.S. laws apply to crypto. Lawmakers have introduced several bipartisan bills, including the FIT21 Act and the bipartisan Lummis-Gillibrand framework, both of which propose clearer lines between securities and commodities rules for digital assets. Related : SecuX and XDC Network Unite to Deliver Secure, Scalable Access to the XDC Ecosystem Some DeFi advocates have called for minimal regulation, arguing that open-source protocols operate without middlemen and don’t fit within current definitions of “securities issuers.” Meanwhile, critics argue that DeFi systems often involve centralized parties under the surface. The presence of figures like Erik Voorhees and Peter Van Valkenburgh signals a likely debate between strict legal interpretation and permissionless innovation. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

A survey by the Nakamoto Project attracted criticism after indicating that 8 out of 10 Americans want the U.S. to sell some of its gold reserves to buy Bitcoin. The U.S. crypto reserve continues to be a divisive issue, as revealed by the reactions to one recent survey. On May 20, the Nakamoto Project, a pro-Bitcoin (BTC) non-profit organization, claimed that one in four Americans want the U.S. to convert at least some of its gold reserves into Bitcoin. However, the findings quickly raised questions about the survey’s methodology. Troy Cross, Chief Editor at the Nakamoto Project, explained that the survey had 3,345 respondents. These were selected to match the U.S. census by key demographic points, including age, gender, and race, to ensure the results were representative. Respondents were asked what percentage of gold reserves the U.S. should convert into Bitcoin. They were given a slider to select any value between 0% and 100% to indicate their answer. “Assuming the United States was thinking of converting some of their gold reserve into Bitcoin, what percentage would you advise they convert?,” was the exact survey question. The methodology quickly drew scrutiny, even within crypto circles. Many criticized the use of a slider and suggested that a yes-or-no question would have been more meaningful. Jan Wüstenfeld, lead researcher at Melanion GreenTech, called the design “unfortunate.” “The way you framed it and set it up, you effectively pushed people to answer with a non-zero allocation,” Wüstenfeld wrote. “You say it yourself: People are reluctant to set a slider at zero.” Nakamoto Project’s Troy Cross acknowledged the framing effects, but pointed out that the survey still gave valuable results. For instance, younger people favored bigger allocations, while women recommended smaller allocations than men.