Blockchain technology has had a huge impact on the financial sector. Although many traditional financial institutions like Bank of America use blockchain, it is still mostly used for cryptocurrency transactions. The benefits of the blockchain network are soon going to be put to the test. There are indicators that Russia is going to start moving […]

The post Will Blockchain Be Resilient for Russians Using Cryptocurrencies? appeared first on SmartData Collective.

With centralized financial infrastructure turning on Russia, the nation may be inspired to opt for less censorable, decentralized alternatives.

Russians are liquidating their crypto in the UAE. This decision comes at a time when most countries are freezing Russian ...

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Regardless of the growing economic sanctions against Russia, the volume of cryptocurrencies bought using Rubles across several major cryptocurrency exchanges plummets drastically. According to data from blockchain-data aggregators display, Russian collateralizing crypto trading across significant crypto exchanges is dropping badly. This debunks the idea that Russia will leverage crypto assets in maneuvering sanctions. Last week, when the Bitcoin price surged more than 15%, some crypto pundits proposed that the rally was related to Russians purchasing crypto assets amid the growing economic sanctions. Related Article | Veteran Trader Advises ‘Gen Zs’ To Set Aside Savings On Bitcoin And Hold Moreover, this belief seems contradictory as Chainalysis displayed data, revealing ruble-denomination cryptocurrency trading. It plummeted to $34.1 million on Thursday, which is about a 50%-decline since its recent high of $70.7 million last week on February 24. Citigroup Analyst Comments On The Cryptocurrency Situation Commenting on the topic of sanctions-focused crypto buying to Bloomberg. Alexander Saunders-Citigroup analyst responded that the trading volumes have been comparatively small recently. However, he also proposed that this PA is higher because of traders and investors preparing for an anticipated increasing demand from Russia instead of the country demanding for itself. Regardless of pundits’ debunking, cryptocurrency could be essential to aid Russia in circumventing sanctions. But unfortunately, the EU (European Union) and the United States are still spurring their regulatory assessments of cryptocurrencies. Just recently, NY state upsurged its blockchain monitoring capabilities to further inhibit digital currencies from being used for aiding Russian interests. Governor Of New York Against Russian Collaborations With The State On February 27, Kathy Hochul, the governor of New York, gave an executive order informing agencies to terminate all collaborations with Russian companies and institutions, even entities and bodies that provide them assistance. In her statement, she highlighted that New York is home to the country’s largest Ukrainian population. And will use all technological assets to safeguard her people, thus showing Russia that they will be held accountable. The Blockchain Associations’ Head of Policy in the United States – Jake Chervinsky, described their worries as “totally unfounded. In his tweet, he explained his perspective of the ongoing situation. He stated that Russia can’t and won’t be able to utilize cryptocurrencies to evade economic sanctions. Chervinsky buttressed that these worries misunderstand: how sanctions operate, how cryptocurrency markets work, how Putin aims to mitigate sanctions, etc. Ari Redbord, the Head of Legal and Government Affairs at TRM Labs, also commented on bolstering this perspective further. He explained that currently, it’s too later for Russia to use cryptocurrencies to handle its sanctions. Related Article | Apple Co-Founder Steve Wozniak’ Feels’ Bitcoin Will Be Worth $100,000 Also, he added that cryptocurrencies’ and blockchains’ transparent nature would make it possible for the entire public to monitor transactions and notice individuals or entities trying to maneuver sanctions. Featured image from Pixabay, chart from TradingView.com

A new task force set up by the U.S. Department of Justice (DOJ), KleptoCapture, will also target cryptocurrency exchanges. Financial institutions, banks, money transmission services, and crypto exchanges that allow Russian oligarchs to move money “will be in the crosshairs of this investigation.” DOJ’s KleptoCapture Task Force Will Take ‘Broader View’ A new Department of […]

Just yesterday, Live Bitcoin News issued an article discussing Coinbase and its blocking of roughly 25,000 illicit accounts that supposedly stemmed from Russia. Coinbase Has Nothing Against Russia Despite the conflict occurring in eastern Europe, executives and employees of the digital trading platform stated that the action taken had nothing to do with the war...

The post Coinbase Clarifies: Everyday Russians Can Continue to Use Our Services appeared first on Live Bitcoin News.

Bitcoin’s price is at risk of going down because investors are funding short positions in Bitcoin by borrowing digital money from exchanges. Datamish shows that investors are funding short, causing the value of Bitcoin to go down. Bitcoin fell again on Friday, despite a surge in capital inflow from large wallet investors and institutions. Brevan Howard Asset Management LLP and Tudor Investment Corp refreshed their bitcoin holdings by adding more of the cryptocurrency to their portfolios. Related Reading | Bitcoin Outflows Spike As 30k BTC Exits Exchanges, Reserve Plunges Down The growing geopolitical tension and the increasingly tense crisis in Russian-Ukraine are negatively impacting investor risk appetites for both equities as well crypto. This has fueled a bearish narrative surrounding Bitcoin’s price, which plunged below $40,000 with no signs of letting up. Cryptocurrencies are not without their risks, and it seems that even large investors know this. On March 11th of 2022, survey data from Datamish showed 1,500 Bitcoin being lent out as short positions to finance those risks- a total debt amounting close enough for a 3,603 BTC loan. Following an increase in funding for short positions, there have usually been negative consequences such as price drops. Analysts have been monitoring the recent changes in Bitcoin price, predicting that it will continue to fall. They believe there is still a significant risk for an upcoming decline, even after its recent recovery. The Bitcoin price recovery is attributed to the first bearish Ichimoku breakout since December 4, 2021. Analysts believe Bitcoin price has formed a bottom in the $38,000 -$38500 range. This is an important confirmation zone for trading on bitcoin. This may signal more losses for investors who have been selling assets in anticipation of an upcoming crash. According To Reuters, Russians Flooded The UAE With Liquidation Requests In a Russia- drowning attempt to save their fortune, company executives and financial sources told Reuters that many Russians flooded the UAE’s cryptocurrency firms with liquidation requests. That’s not all they want to do. Some of these investors are looking for real estate in the UAE. While others plan to convert it into fiat and hide their money somewhere else – insiders reported. Related Reading | Bitcoin Exchange Withdrawals Suggests Whales Are Accumulating The Swiss financial industry is currently in chaos. In fact, brokers requested the withdrawal of billions of dollars worth of Bitcoin. The request came from their clients concerned that Switzerland might freeze all funds. One representative claims they have received requests for up to $2B.  The UAE has been a neutral ground for Russians and Belarusians who have come to Dubai with their money to avoid being left out during any wars that may break out. There’s even been talk of people bringing cryptocurrencies here because they know it will always stay safe no matter what side wins. According to sources in the UAE, many Russians purchase real estate with cryptocurrency. They’re using digital forms of money both ways – bringing their resources into Dubai while getting them out from other regions. Featured image from Pixabay, chart from Tradingview.com

Other Russians are reportedly looking to use their crypto to invest in property in the UAE.

The post Russians liquidating Billions in Crypto in the UAE in search of safe havens appeared first on Cryptoverze.

As you may recall, Facebook recently announced that it will allow some posts that call for death to Russian President Vladimir Putin or Belarusian President Alexander Lukashenko in countries including Russia, Ukraine, and Poland. In a temporary change to its hate speech […]

The post UN condemns Facebook for allowing hate speech against Russians and posts that call for death of Putin, “We stand clearly against all hate speech, all calls for violence” appeared first on Tech News | Startups News.

The most interesting reads, podcasts, charts, and opinions from the internet this weekend -- curated for you by the Protos newsroom.

The post The Weekend Shift: Space, Gaming, Crypto Scams appeared first on Protos.

Coinbase – one of the largest and most popular cryptocurrency exchanges in the world – announced earlier in the week that it is taking heavy action against Russian accounts on its platform. The company has worked to block as many as 25,000 separate crypto accounts allegedly stemming from Russia and that are believed to be...

The post Coinbase Halts Several Illicit Accounts from Russia appeared first on Live Bitcoin News.

Russians look forward to liquidating digital assets. Most come up with BTC in their hands predominantly. Facilitates between UAE and

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