US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review

A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS economic bloc has invited 69 leaders to its August summit. This and much more, just below, in the Bitcoin.com News Week in Review.

Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study

Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study.

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Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy

On July 24, 2023, a block reward from 2010 was transferred for the first time in 13 years, marking this month’s first expenditure of dormant bitcoin from that year. So far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoins.

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BRICS Invites 69 Leaders to August Summit — Western Countries Omitted

The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications. “We’ve never had such a large outreach,” said South Africa’s diplomat in charge of BRICS relations.

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Decoding Ripple’s Ruling: A Potential Tsunami for the SEC

In a groundbreaking decision earlier this month, the Southern District Court of New York determined that institutional sales of XRP conducted directly by Ripple constitute securities sales. However, intriguingly, XRP sales on secondary markets, specifically crypto exchanges, do not. A verdict that has sparked a ripple, pun intended, in the crypto space, potentially creating waves of disarray for the U.S. Securities and Exchange Commission (SEC).

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What are your thoughts on this week’s stories? Be sure to let us know in the comments section below.