The U.S. will freeze assets at Russia’s largest banks kept in the U.S., including VTB Bank, a state-owned entity and Russia’s second-largest bank, as well as Sberbank. Similarly, the U.K. announced earlier on Thursday it would freeze any British-based assets belonging to VTB. The European Union is similarly freezing Russian assets and blocking bank access to European financial markets. Source
Bitcoin was cast by some investors as a potential “store of value.” Instead, as geopolitical tensions rise, the cryptocurrency’s price has fallen. Source
Anton Bukov, the co-founder of 1inch Network, thinks that Ethereum will likely become the main settlement layer for a multi-chain decentralized finance (DeFi) ecosystem. “There is like a high chance that most of the chains will try to commit their states to Ethereum as a higher layer,” Bukov said in an exclusive interview with Cointelegraph. Bukov, who is number 39 in Cointelegraph’s Top 100 list for 2022, acknowledges that to achieve that, Ethereum needs to solve the scalability issues that limit its transaction output. DISCOVER COINTELEGRAPH’S TOP 100 IN CRYPTO…
A pseudonymous collector withdrew 104 CryptoPunks from Sotheby’s. What does it mean for the future of splashy NFT auctions? Source
Despite a number of attempted vampire attacks, nonfungible tokens (NFTs) continue to have a strong run on OpenSea, with the number of unique users and transactions increasing. However, the NFT market’s overall volume is falling behind last month’s figure of nearly $3 billion. While there are NFT projects readying to hit the secondary market, it seems the sector, as a whole, is navigating the next move regarding utility and the integration of NFTs in the metaverse. Adding to this, global political uncertainties are also having a noticeable impact on market environments.…
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The escalation of tensions between Russia and Ukraine continues apace, and all global markets have plummeted today. During this crisis, the leading cryptocurrency Bitcoin (BTC), which was trading for $34,000 at the time, retreated then recovered. This, according to a well-known analyst, is the perfect time to invest in Bitcoin. Bitcoin Falls Following Tensions Bitcoin rose little after Wall Street began on February 24, with markets still focused on Russia’s invasion of Ukraine and its aftermath. BTC/USD was nearing $36,400 on Bitstamp two hours after the opening bell, up $2,000…
As the Biden administration slaps economic sanctions against Russia to contain the crisis in Ukraine, Russia is using various cryptocurrency tools to maintain access to foreign capital. As Russia attacked Ukraine, cryptocurrency prices fell sharply. On Thursday morning, Bitcoin prices declined to more than 8%, to settle at $34,702.18, marking its lowest level in around a month. Ether fell more than 8% to trade around $2,407.47. Related Reading | Quant Explains How Bitcoin NUPL Can Help Predict Bull Cycles That’s A Lot Of Money Economists have approximated that the U.S. sanctions…
As the market dips over escalating tensions in Eastern Europe, Dr. Raullen Chai, the co-founder and CEO of blockchain network IoTeX, is urging crypto investors to hold on to their crypto. The Russian army recently started its advance on Ukraine, firing missiles on the second-largest European country. Following this, crypto markets took a nosedive, with all the top coins dropping between 8% and 18%, according to Cointelegraph Markets Pro. However, despite the current market conditions, Chai tells holders to think twice before selling their digital assets. Chai told Cointelegraph that,…
Canada’s prime minister, Justin Trudeau, has ended the use of the Emergencies Act invoked last week to deal with the Freedom Convoy trucker protest. The Canadian police have also instructed financial institutions to unfreeze accounts previously frozen. “The situation is no longer an emergency, therefore the federal government will be ending the use of the Emergencies Act … We are confident that existing laws and bylaws are sufficient,” said the prime minister. Trudeau Ends Emergencies Act Canadian Prime Minister Justin Trudeau announced Wednesday that he is revoking the use of…