Tag: ukraine crypto

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Crypto Crash Devalues Ukraine Govt’s Crypto Fundraise – Top Crypto News

Crypto crash devalues Ukraine govt’s crypto fundraise

Ukraine plans to continue to tap crypto investors to help raise funds after a crash in token prices wiped out its fundraising efforts in May. On March 19, the Ukrainian government said it had raised more than $60 million worth of crypto. But two months later, the total amount raised was only worth $51.5 million.

All the funds raised in the “Aid for Ukraine” fund were stored in crypto. The government was able to spend $45 million on equipment for Ukraine’s army before the crash.

Crypto prices today: Bitcoin up 1.6%, ETH up 0.21%

Bitcoin is currently trading at $29,785.75, a 1.6% increase over the previous day. Ethereum rose 0.21% over the last 24 hours to $1,983.62. Solana fell 1.17% to $49.08, while Cardano is trading higher by 0.4% at $0.520. Avalanche (AVAX) fell 2.2% to $26.62. The global crypto market cap stands at $1.27 trillion, a 0.99% increase over the previous day.

Brave adds Solana support and Ramp Wallet functionality in latest update

Privacy web browser Brave’s latest desktop release now includes support for the Solana blockchain and its SOL and SPL tokens. Brave Wallet can be used to buy, sell, and hold SOL and SPL tokens through the non-custodial payment platform Ramp. Ramp allows users to buy crypto directly from their Brave Wallet instead of having to purchase crypto on an exchange and then transfer it to a wallet.  

Coinbase becomes first Bitcoin company among Fortune 500

Coinbase has become the first crypto-focused company to be included in the Fortune 500. The US-based crypto exchange recorded $7.8 billion in revenue for the 2021 financial year, ranking 437th on the list. The company derives a bulk of its revenue from trading fees.

Crypto risks could spill over into wider economy: ECB

A European Central Bank (ECB) report stated that financial institutions using crypto/digital assets as a form of payment could increase “spillover to the wider economy”. Regulators have been looking into the devastating collapse of the Terra blockchain coins. It has raised questions on the stability of algorithmic stablecoins like UST, which are not backed by a fiat currency.

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Ukraine Legalises Crypto – Top Crypto News

Ukraine’s President signs virtual assets bill into law, legalizing crypto

Ukrainian President Volodymyr Zelenskyy has signed a virtual assets bill into law, thus legalizing crypto in the country. Amidst Russia’s invasion, Ukraine has been receiving millions in digital asset donations to support its defense. The new law determines the legal status, classification, ownership, and regulators of virtual assets. It also sets registration requirements for crypto services providers.

The crypto market will be regulated by Ukraine’s National Commission on Securities and the Stock Market.

Crypto prices today: Bitcoin rises 3.2%, ETH up 4%

Bitcoin is currently trading at $40,805.6, a 3.2% increase over the previous day. Ethereum is up 4.2% over the last 24 hours to $2,753.5. Solana rose 5.4% to $87, while Cardano is trading higher by 4.7% at $0.84. Avalanche (AVAX) jumped 9.2% to $75.84. The global crypto market cap stands at $1.81 trillion, a 3.11% increase over the previous day.

Argentina cracks down on crypto with anti-money laundering rules

Argentina is set to include crypto firms in its wider anti-money laundering (AML) regulatory regime. Unidad de Información Financiera (UIF) is the country’s competent authority when it comes to regulating money laundering risks. As per reports, UIF is working on adding crypto firms to the list of entities subject to AML reporting requirements.

The Sandbox Metaverse token jumps 8% amid HSBC, Paris Hilton tie up

Multinational investment bank HSBC has become the latest corporate giant to enter the Metaverse through a partnership with The Sandbox. HSBC will acquire a plot of virtual real estate in the Sandbox metaverse to increase engagement and connect with sports, e-sports, and gaming enthusiasts. Paris Hilton also announced a partnership with The Sandbox, wherein the singer would appear as her voxel avatar.

Dubai grants Virtual Asset Licence to Binance for regional business

Dubai’s Virtual Asset Regulatory Authority (VARA) has granted a Virtual Asset Licence to crypto exchange Binance to conduct regional operations. Binance can extend limited exchange products and services to pre-qualified investors and professional financial service providers. The exchange will also anchor a blockchain technology hub in the Dubai World Trade Centre (DWTC).

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Biden Signs Executive Order on Digital Assets – Top Crypto News

Biden’s executive order on digital assets splits crypto industry and Bitcoin idealists

US President Biden recently signed an Executive Order on Ensuring Responsible Development of Digital Assets. The order seeks to find ways to mitigate risks to both individual consumers and the global financial system. It also aims to prevent the misuse of crypto for criminal activities.

Many within the crypto industry are optimistic it will lead to clearer regulations and a fair approach toward assets. Others argue the order lacks substance or is too focused on central bank digital currencies.

Crypto prices today: Bitcoin falls 5.4%, ETH down 4.8%

Bitcoin is currently trading at $39,328, an 5.4% decline over the previous day. Ethereum fell 4.8% over the last 24 hours to $2,591.91. Solana decreased by 6.7% to $82.5, while Cardano is down 4.13% to $0.805. Avalanche (AVAX) slumped 7.4% to $73.12. The global crypto market cap stands at $1.75 trillion, an 4.35% decline over the previous day.

Crypto is helping Ukraine amid Russia’s invasion, Says Deputy Minister

Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov noted that cryptocurrencies are helping Ukraine in the wake of Russia’s invasion. However, he does not believe crypto donations are playing a “major part” in Ukraine’s wider economy. Bornyakov also said that the total amount of crypto donations made to Ukraine is now close to $100 million.

Russia, Belarus sanctions extend to crypto: EU

The European Union (EU) has clarified that sanctions placed on Russia and Belarus extend to crypto assets. The EU said crypto-assets fall into the category of “transferrable securities”, and are clearly included in the scope of sanctions imposed on Russia.

Adobe taps Polygon to scale NFT functionality in Behance social platform

Software company Adobe is working with Polygon to integrate the Ethereum scaling program into its Behance social media platform. The integration will allow creators to showcase non-fungible tokens (NFTs) to the world while minimizing their carbon footprint and transaction fees. Adobe acquired Behance in December 2012.