Bitcoin, Ethereum And Crypto On The Frontline Of Financial Warfare As Extreme Price Swings Hit

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High alert ⚠️

Cryptocurrency prices have fallen following a busy weekend of Russian sanctions that have driven the world into a nuclear war. The Bitcoin Prices have fallen almost 3% this time yesterday as traders count the costs of some Russian banks launched from the SWIFT interbank messaging service and the central banks of countries where foreign exchange reserves have been seized. .. See below for an overview of the complete situation.

Ethereum It fell by more than 6%, dropping the major crypto markets.Ethereum rivals Solana Is the only mountaineer and adds almost 1%, avalancheNew challengers have lost more than 7%.

Cryptocurrency prices and markets are set in wide and volatile weeks as the war in Ukraine continues and the full effect of Russian sanctions is felt.

Read this now: Borderless crypto market shows the need for global rules

Forefront of financial war ?

Russian bear roar: The Central Bank of Russia raises key interest rates to its highest level in almost 20 years, excludes the country from the interbank messaging network SWIFT, and desperately regulates capital to protect the Russian economy from severe new sanctions that “paralyze” assets. I imposed. Of the Central Bank of Russia. Russian President Vladimir Putin responded to what he called an “aggressive remark” from the West by putting Russia’s nuclear forces in a “special combat mission”.Meanwhile, Washington is considering cracking down on cryptography as part of sanctions against Russia, which was reported by The Wall Street Journal on Friday.

Market turmoil: Traders have left their seats this morning after a former Vice-Chairman of the Central Bank of Russia warned against a “catastrophe” weekend in the Russian currency market. Overnight, the Russian ruble collapsed to a record low against the dollar. Although it was announced this morning that the Moscow Stock Exchange will not open today, the stock price of Sberbank, a major Russian bank listed in London, has fallen by nearly 95% since October.

-Russia’s Zubelbank in Europe faces closure after savings banks demand money

Give us a chance for peace: This morning, Ukraine and Russia will begin “no prerequisites” peace talks near the border between Ukraine and Belarus.

Freeze them: “I’m asking all major crypto exchanges to block the addresses of Russian users,” the Deputy Prime Minister of Ukraine posted on Twitter on Sunday. “It is important to freeze not only for addresses linked to Russian and Belarusian politicians, but also to interfere with the general public.” Dmarket, a trading company for Ukrainian digital assets and non-alternative tokens (NFTs), said. He said he would do so. “Registration on the platform is prohibited for users in Russia and Belarus,” Dmarket tweeted. “Accounts of previously registered users from these areas have been frozen.” The Deputy Prime Minister of Ukraine subsequently said that the frozen funds could be “donated to war effort.”

-Technical CEO will fly workers from Ukraine as invasion threatens

Censored slippery slopes: However, Jesse Powell, CEO of the US cryptocurrency exchange Kraken, said that he would not freeze the accounts of Russian clients without legal requirements, “such requirements may be imminent. There is. ” Powell further states: “Furthermore, if you voluntarily freeze the financial accounts of residents of countries that are unfairly attacking and inducing violence around the world, step 1 is to freeze all US accounts. As a matter of fact, It’s not really a viable business option. For us. “Spicy. Binance, the world’s largest cryptocurrency exchange, has also stated that it will not freeze Russian user accounts. “We do not intend to unilaterally freeze the accounts of millions of innocent users. Cryptography was aimed at providing greater financial freedom to people around the world,” said the representative. Reuters..

What else is being said: Business Insider FTX’s Sam Bankman-Fried, Microstrategy’s Michael Saylor, Cardano founder Charles Hoskinson, Morgan Creek Digital Anthony Pompliano co-founder, and crypto trader Scott Melker have tweeted about their role in the Bitcoin and crypto war. Shocking consensus: Cryptography fixes this.

Ukrainian crypto crowdfunding: According to blockchain analysis firm Elliptic, the Ukrainian government has raised about $ 8 million in cryptocurrencies since it began accepting Bitcoin, Ethereum and Tether donations on Saturday. Reuters There is a write.

Bitcoin bribes: Russian soldiers who surrendered to Ukraine received 5 million rubles ($ 45,000) worth of code or cash, and Masha Efrosinina, a local television host and honorary ambassador of the United Nations Population Fund in Ukraine, said on Instagram. In the post, this offer is from the Ministry of Defense of Ukraine and the global IT community.

There is a meme war for your heart: It’s not just the digital financial war that is taking place in Russia. Internet meme machines have been powered up to fight Russian war machines. Privacy lawyer Whitney Merrill has put together some examples in a Twitter thread.

What you need to know: New Yorkers are locked out of crypto coins made just for them

Europe is coming for cryptocurrencies ?

? The UK plan is to crack down on the influx of “dirty money” into the country with a new economic crime bill that includes greater power to seize cryptocurrencies, Financial Times report.

?️ This reform is a new condemnation of Russian President Vladimir Putin after the invasion of Ukraine, and foreign owners of companies reveal their identities to prevent criminals from hiding money behind shell companies. need to do it.

?? Meanwhile, European Central Bank Governor Christine Lagarde said the European Union needs to act swiftly to approve cryptocurrency regulations that prevent sanctions from being circumvented after Russia invades Ukraine. It was reported by Bloomberg.. Elsewhere, the European Commission last week announced a proposal for a new data law for the union that requires the inclusion of “kill switches” in applications that use smart contracts. block report.

Read this now: Competition to China, Russia, and the post-dollar world

last week ?

? Keep an eye out for these cryptocurrencies and crypto-related events this week.

✍️ We are still waiting for the Biden administration’s long-awaited cryptographic surveillance presidential order. According to reports, it was signed last week, but Russia’s invasion of Ukraine seems to have hindered it.

?️ The UN General Assembly is holding an urgent session today on Russia’s invasion of Ukraine. The UN Human Rights Council will also begin its 49th meeting in Geneva.

? Mobile phone and mobile device makers have landed in Barcelona for the Mobile World Congress to return today after a two-year pandemic hiatus. The Verge There is an introductory book. Telefonica President Jose Maria Alvarez said this morning that the Metaverse has already caused “amazing turmoil.” CNBC Reporter’s tweet.

?️ US President Joe Biden will give his annual State of the Union address at a joint session in Washington tomorrow.Foreign policy will be “front and center” The Wall Street Journal..

? Federal Reserve Chair Jay Powell said twice this week on Wednesday and Thursday before his last public on monetary policy before the US central bank began raising interest rates to counter rising inflation. I will talk about what is likely to be the statement. Powell first submits regular monetary policy updates to the US Home Financial Services Commission and then appears before the Senate Banking Commission.

? Friday brings the latest US employment report, economists predict that the US labor market will continue to improve following a significant increase of nearly 500,000 in January.

? This weekend, China’s National People’s Congress is expected to launch its annual plenary session at the Great Hall of the People in Beijing to set out key economic, trade, diplomatic and environmental policies. The South China Morning Post There is an explainer.

What you need to know: Bitcoin is even more dirty