In the 1970s, the United States secured a game-changing deal with Saudi Arabia: oil exports would be exclusively traded in U.S. dollars. Fast forward to June 9th, 2024, and that monumental agreement has expired. Saudi Arabia’s decision to move away from this deal marks a profound shift in global economics.

Now, where does cryptocurrency fit in? BlackRock's CEO has been in personal meetings with Crown Prince Mohammed Bin Salman, exploring new financial landscapes. With BlackRock deeply invested in Bitcoin and Ethereum spot ETFs, and even eyeing to rival the New York Stock Exchange, the stakes are high. Meanwhile, the UAE has partnered with big economies like China and Hong Kong to back EMbrider, a new stablecoin.

These developments signal more than just a shift in oil trade; they indicate a possible decline in the dominance of the U.S. dollar, creating a fertile ground for cryptocurrencies to flourish. This evolving scenario is reshaping the future of global finance. Stay tuned as crypto gears up to potentially benefit from these massive changes.

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