News

Some of the largest crypto exchanges in South Korea have barred Russian users from accessing their services. These bans extend beyond sanctioned individuals and blacklists all Russian IP addresses as well.  IPs Blocked Amid Evasion Concerns According to a local report, most South Korean major exchanges have blacklisted their Russian customers from using their services. This comes after Ukrainian Vice Prime Minister Mykhailo Fedorov called on all cryptocurrency exchanges to block Russian users from accessing their platforms. And of course,…

Sandbox launched its second alpha season while reaching a major milestone of 2 million registered users. During the four-week event, all players will get free access to more than 35 solo and multiplayer experiences. This includes a sneak-peek into Snoop Dogg's "Snoopverse", and a Hong Kong time-traveling tour called Hong Kong's Star Ferry Pier. New experiences also include a walk through Dracula's Castle, New dungeons, Kingdoms with puzzles, and fights against demons. Furthermore, players will compete in 200 quests for…

Brian Armstrong – CEO of Coinbase – refused to freeze Russian users’ assets at his exchange despite officials’ calls to help financially cripple Russia. Damage From Russian Sanctions Similar to the CEOs of Kraken and Binance, Armstrong cited financial sovereignty and crypto-centric values as reasons to continue protecting Russian accounts. “We believe everyone deserves access to basic financial services unless the law says otherwise.” said Armstrong in a Twitter thread discussing the matter on Friday. [caption id="" align="aligncenter" width="1200"] Brian…

In a move that highlights the importance of digital currencies going forward, Venezuela pegged its minimum wage to its own state crypto. On Friday, Venezuelan President Nicolas Maduro announced pegging the value of minimum wage to half a Petro, its state-sanctioned digital currency. Although authorities modeled it on the Bitcoin fork Dash, Petro (PTR) is centralized around government issuance. That makes it more like a Central Bank Digital Currency (CBDC) than crypto. Half a petro worth roughly 126 bolivars or…

With the war in Ukraine raging on, and Russia targeted by crippling sanctions, fear is taking hold of the markets, including crypto. Crypto investors are struggling to assess the effects of war in Ukraine on cryptocurrencies. One of the risks is a hit to Bitcoin's hash rate. The hash rate, a measure of the computing power involved in validation, is a key measure of network security. In Bitcoin's network, it depends on mining. Now, Russia, the third-largest Bitcoin miner faces…

The United States Department of Justice (DOJ) has recently launched the KleptoCapture task force. The task force's aim is to enforce sanctions imposed on Russia for its invasion of neighboring country Ukraine. Of late, there have been talks that Russia might turn to crypto to circumvent its sanctions. The DOJ’s establishment of KleptoKapture is a move to nip this in the bud. Efforts to Mitigate Attack on Ukraine In a press statement released on Tuesday, 2nd March, Deputy Attorney General…

Billionaire investor Bill Miller has become more optimistic about Bitcoin since Russia invaded Ukraine. Currently, the Western sanctions are crushing the Eastern superpower’s economy and currency. This turn of events makes him believe they will likely look to regain control of their wealth with Bitcoin. Does Russia Need Bitcoin? On Thursday, Squawk Box’s Andrew Sorkin, a Bitcoin skeptic, asked Miller how Russia’s economic situation could impact the crypto market. Miller focused his response on Bitcoin, which he called “unique” from…

Bitcoin and gold are the leading indicators of how their respective markets handle a crisis. Currently, these two assets are feeling the full effect of the Russia-Ukraine conflict, which has severely impacted financial markets worldwide. However, their performances have been quite the opposite so far. As the stocks markets came crashing down, Bitcoin and gold battled to become the better inflation hedge. Since the armed conflict is far from over, we cannot establish a winner. However, we can use the…

It’s not just El Salvador. Lugano – an Italian-speaking city in southern Switzerland – has now confirmed plans to make Bitcoin legal tender. Not technically, however. The city’s infrastructure and laws surrounding Bitcoin will simply allow it to serve all functions that fiat money can. As a result, it could become a ‘de facto’ currency. Another Bitcoin Focused Economy The city’s adoption plans were detailed during “Lugano’s Plan B,” presented by city director Pietro Poretti, mayor Michele Foletti, and Tether…