French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’ – Economics Bitcoin News

Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a conflict between the U.S. and China, and reduce its reliance on the U.S. dollar to avoid becoming “vassals,” applying his concept of “strategic autonomy.”

Emmanuel Macron Believes Europe Should Remain Autonomous Regarding U.S. and China

French President Emmanuel Macron recently revealed his stance on the current geopolitical and macroeconomic issues Europe is facing, standing in the middle of the Russia-Ukraine war and a possible Taiwan conflict. At his return from a three-day visit to China, where he met with Chinese President Xi Jinping, Macron stated that Europe commonly gets caught in third-party affairs that affect its possibilities of developing “strategic autonomy.”

Macron also noted that this behavior of the European Union bloc is reducing it to be considered mere backers of the U.S. On this, he told Politico:

The paradox would be that, overcome with panic, we believe we are just America’s followers.

As part of his “strategic autonomy” determination, Macron acknowledged Europe had no possibility of influencing the future of a possible conflict in Taiwan, and that any attempt to do so would only increase the tensions between the parties.

Analysts believe that the doctrine of strategic autonomy has to do more with the U.S. than with countries like China and Russia. About this, Cui Hongjian, director of European studies at the China Institute of International Studies, explained:

It means Europe does not want to be eclipsed in the ‘great power’ rivalry and it needs to have its own say on security, defense and foreign policy issues that have usually been controlled by the U.S.

Avoiding ‘Vassal’ Status by Reducing Dependence on the U.S. Dollar

Macron also stated that Europe had become dependent on the U.S. on the energy and military front, proposing to boost the development of European alternatives. Macron also criticized the dependence that the bloc has on the U.S. dollar, explaining it might hurt them in the future.

On how this dependence might affect Europe, Macron declared:

If the tensions between the two superpowers heat up we won’t have the time nor the resources to finance our strategic autonomy and we will become vassals.

While European countries have not been targeted by U.S. dollar-centric sanctions, European companies often complain that they can’t conduct business with sanctioned countries and entities due to the risk of being targeted by secondary sanctions. China, Russia, and other countries of the BRICS bloc are currently working on developing alternatives to the use of the U.S. dollar for conducting these activities.

President Xi had made calls to the European bloc before, asking it to “stand against hegemonism, unilateralism and attempts to decouple economies or sever supply chains,” in a call against adopting or supporting these sanctions.

What do you think about President Macron’s stance on the dollar dependence of Europe? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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NFT Collective Proof Launches New Moonbirds Collection With Beeple, Other Artists

Titled “Moonbirds: Diamond Exhibition,” the collection is available exclusively to Moonbirds holders that reached “Diamond Nest” status by staking their NFTs. The collection is slated to be released on April 27 and will also coincide with two live events, including Beeple’s LIVE Everyday party at NFT NYC this week along with a physical gallery showing of the collection’s artwork later this month.

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MetaMask launches new fiat purchase function for cryptocurrency

Cryptocurrency wallet and decentralized application (Dapp) provider MetaMask has announced the launch of a new feature that will allow users to purchase crypto with fiat currency directly from its Portfolio Dapp. The move is intended to provide users with an easier way to purchase crypto with fiat currency.

The new “Buy Crypto” feature enables MetaMask users to purchase a wide range of cryptocurrencies using various payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). The service will be rolled out to users in over 189 countries and will offer more than 90 tokens across eight different networks, including Ethereum, Polygon, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo.

To access the feature, MetaMask users can connect their wallets to the Portfolio Dapp or click on the “Buy” button in the MetaMask extension wallet. From there, users can select their region, payment method, and the token and network they want to purchase on.

The feature also takes into account a variety of factors, such as the user’s location and local regulations, to provide a customized quote for each purchase. Once the user has selected a quote, they will be redirected to a third-party provider’s website to complete the transaction. The funds will then be deposited directly into the user’s MetaMask wallet.

Related: Scam alert: MetaMask warns users of deceptive March 31 airdrop rumors

Over the years, MetaMask has partnered with several organizations to help onboard new users to its platform.

In 2022, Metamask partnered with PayPal to allow MetaMask users to purchase and transfer Ether (ETH) via PayPal’s platform. The service, announced on Dec 14, enables users to purchase and transfer ETH from PayPal to MetaMask by logging onto their Mobile MetaMask app, which would then redirect them to their PayPal account to complete transactions.

Additionally, on March 21 MetaMask announced a new integration with crypto fintech provider MoonPay that allows Nigerian users to purchase crypto through instant bank transfers. The new feature, available in the MetaMask mobile and Portfolio DApp, offers a simpler and cheaper way to buy crypto without using credit or debit cards. 

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Jupiter explodes higher with a 140% price increase

Jupiter (JUP) is up by more than 100% in 24 hours, and is being bought in heavy trade.

Jupiter (JUP) is a blockchain platform that aims to make the technology accessible and secure for everyone. The project boasts military-grade encryption, which helps ensure that user data is private and secure.

Through its encryption capabilities, Jupiter can power secure decentralized applications (dApps) on public and private networks based on client preferences.

Jupiter’s recent surge in value is notable, with a 140% increase in the last 24 hours. At the time of writing, the live Jupiter price is $0.015721 USD, with a 24-hour trading volume of $5,617,962 USD. Jupiter’s market capitalization is currently at $15,720,650 USD, and it holds the #701 rank on CoinMarketCap.

The circulating supply of JUP coins is 1,000,000,000, and the maximum supply is set at 3,000,000,000 JUP coins.

Jupiter token price. | Source: CoinMarketCap.

One of the key points of Jupiter is its encryption capabilities. The platform employs military-grade encryption to ensure that user data remains private and secure, even while transacting on public networks. This level of security is particularly appealing to users who value their privacy and want to protect their personal information.

Jupiter’s commitment to making blockchain accessible is also notable.

The project aims to remove barriers to entry and make blockchain technology more user-friendly. This focus on accessibility is particularly appealing to users who are new to the blockchain space and may be intimidated by the complexity of the technology.

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Cardano (ADA) Whales Go on an Accumulation Spree: Data

Over the years, the Cardano ecosystem has come under significant criticism for continued delays and network updates. But ADA whales remain unfettered.

In fact, the top whales have been amassing ADA even as the token struggled to break above the crucial resistance mark of $0.40.

More Gains for ADA?

According to on-chain data shared by crypto analyst and trader Ali Martinez, ADA whales are on an accumulation spree over the past two weeks. During this period, this cohort of token holders (holding between 100 million to 1 billion ADA) has managed to scoop up 560 million ADA, worth around $218.4 million.

Cardano’s price trajectory, for one, has improved since the beginning of the year, pushing its YTD gains to 56% from $0.25 to the press time price of $0.39. The token was up by nearly 26% in the past month alone despite a major drawdown in the second week of March.

The launch of Cardano’s native Djed stablecoin played a major role in improved investor sentiment. Following the launch, ADA’s volume in whale transactions saw a sudden spike. Such an abrupt activity tends to dwindle easily, but whale activity has defied the norm and instead remained steady at high volumes.

As the broader market recovered in the later part of March, the accumulation picked up pace as well. A persistent high whale activity signal increased utility for transactions. It is, hence, a bullish sentiment that could possibly bolster investor confidence in ADA’s growth potential.

Diving deeper into ITB’s chart demonstrated that the total addresses in the Cardano network are steadily rising. There are currently 4.44 million addresses with a balance. On the other hand, zero-balance wallets stood at 37.51 million, bringing the total to 41.95 million.

Recent Developments

The whale activity comes against the backdrop of several developments in the Cardano ecosystem. The network got its first-ever oracle integrator, dubbed ‘Charli3,’ this month. The platform’s oracles were integrated by a leading Cardano-based decentralized finance (DeFi) – Liqwid.

In a series of network improvements and features, the Cardano blockchain also got a boost from Paima Studios’ release of new cross-chain network integration, enabling users to play on-chain games using ADA tokens. The new feature also allows users of other networks to play Cardano-based games.

Earlier this year, Input Output Global (IOG) rolled out a valentine upgrade for its Standards for Efficient Cryptography (SECP) primitives on the network’s mainnet. This update seeks to allow developers to leverage a broader range of native multi-signature designs to build secure and cost-effective decentralized applications (DApps).


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