Authorities in Russia may begin to seize funds of foreign nationals and companies that are in the country, former Russian President Dmitry Medvedev has indicated. His warning comes as the West continues to expend penalties imposed on Moscow over its military invasion of neighboring Ukraine. Medvedev Warns Persons and Entities From ‘Hostile’ Nations May Lose […]
I see a lot of virtue signaling and shaming going on for discussing the crypto market fluctuations during a global crisis. This is a crypto sub; this isn't r/worldnews. This sub should be a safe space to discuss all things crypto at any given time. It should be a politically agnostic forum where people can…
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More than $4 million have already been contributed to non-governmental organizations helping Ukraine from Russia’s unprovoked invasion of the country. A “crypto war,” according to analysts, has just begun. Meanwhile, as the panic of war depletes the country’s ATMs, many Ukrainians resort to Bitcoin. Elliptic, a blockchain analysis company in London, provided statistics on Friday revealing that crowdfunding has increased since Thursday, following Russia’s invasion of Ukraine. “On the 24th of February alone, one NGO got over $675,000 in Bitcoin, and by 9.30 a.m. on the 25th, it had already received more than $3.4 million – over $3 million of which was provided by a single contributor,” Elliptic said. This brings the total amount raised by these groups from the beginning of the invasion to more than $4 million, Elliptic said. Total crypto market cap at $1.738 trillion in the daily chart | Source: TradingView.com Crypto War: Who’s Winning? This increase in donations is part of a more significant trend by Ukrainian volunteers and NGOs who have been at the forefront of organizational efforts since the conflict began eight years ago with the separatist Donbas republics. Bitcoin was up 1.75% to $47,130 at the time of writing. The crypto fell to an early morning low of $46,173, before climbing to a high of $47,247, indicating a mixed start today. Related Article | Russian Politicians’ Crypto Wallets Targeted By Ukraine – Hefty Reward Up For Grabs “Cryptocurrencies may be used to crowdfund for the Ukrainian army or assist Russia in avoiding sanctions because there is no central authority who can impose their morality on its users,” Elliptic’s principal scientist and co-founder, Tom Robinson, said. “No one can prevent it from being used in either way.” One of the numerous costs of war is its impact on the global financial market. Experts also fear an enormous human toll, with Ukrainian President Volodymyr Zelensky declaring that more than 100 Ukrainians had been slain in the first 24 hours of the assault. Collateral Damage The invasion has thrown Ukrainian people’s lives into disarray, with many attempting to flee the nation. In contrast, Zelensky advises others to protect their homes against Russian soldiers and attacks. As Russian tanks roll into Ukraine, the two economies that have been at the forefront of adopting the new form of digital money are now using it to gain a competitive advantage in the geopolitical battle. For instance, Ukraine is seeking further measures of staving off Russia’s invasion on their country by going after government official’s crypto wallets. For the part of Russia, it has been reported that hackers from the country have allegedly launched cyberattacks on Ukraine’s private financial firms to break into their crypto reserves. A Tool That Changes The Game Early today, Crypto.com Coin was down 3.68%, bucking the trend. The remainder of the majors, on the other hand, had a bullish start to the day. This afternoon, (February 27), Bitcoin’s market dominance has increased by 0.13% to 41.89%, as statistical analysis has stated. Crypto analysts project that volatility in global financial markets, including cryptocurrencies, will follow as the war rages on. For the first time, the crypto era’s first significant battle also means that both sides have access to a tool that can quickly move billions of dollars across borders. Related Article | Russia Said SWIFT Ban Could Be Tantamount To A Declaration Of War Featured image from OpenSea, chart from TradingView.com
The entire Moscow exchange is offline. They halted all trades within. Even there main portal is completely offline. Probably also targeted by Anonymous in their effort to DDOS all state websites. https://www.moex.com/en/ We are witnissing the greatest downfall in the history of the russian economy. They just don't know it yet. People in Moscow are…
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Private banks in Mexico want to join efforts with the central bank of the country in the creation of a new digital currency. The president of the Mexican Bank Association (ABM) met with the governor of the Bank of Mexico to offer the help of the group of private banks for the creation of a […]
I don’t know the answer to this question. I just saw images of Russians in lines to withdraw money from their banks. The money is safer in BTC/other crypto, then a bank, which might be freezing assets or having a bank run. Anyone here know about the protections of the Russian banking system? Do they…
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Really amazing to see the crypto space stepping up to support the Ukraine in these trying times. The official BTC wallet has millions now, over $14m I believe in donations. The mining community is stepping up as well. With a fair few people moving their hash power to mine for the ETH wallet the government…
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