Examining the crypto market’s reaction to the Russia–Ukraine crisis
Bitcoin price sentiment first turned fearful but soon switched to mildly bullish as price began to slowly rise, reclaiming the lost levels. February saw a noticeable shift between inflation and U.S. Federal Reserve news, followed by news of a conflict in Eastern Europe that completely overshadowed the earlier concerns of economic health. What’s transpiring in Ukraine is causing an immediate marketwide price drop. Bitcoin (BTC) had a notable decline of 11% over a 16-hour time period, while the majority of altcoins plummeted 20% or more.The initial expectation was for the war to have a....
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The government of Ukraine legalized crypto and digital assets on its territory. Per an official post, the president of the country Volodymyr Zelenskyy signed a law that legalizes transactions with this asset class. Related Reading | Iranian, Venezuelan OpenSea Users Blocked From NFT Platform Over Russia’s Attack On Ukraine According to the law, crypto exchange […]
While Russia’s Ukraine invasion has been at the forefront of people’s minds, a global recession and the possibility of an energy crisis have been thrown into the conversation. Reports concerning the U.S. economy note that risks of an economic recession are climbing, and energy market historian Daniel Yergin thinks the current warfare in Ukraine could spark major energy issues like the 1970s oil crisis.
Top Economists Say Odds of Recession Are Rising, While Some Are Inclined to Believe Economic Fallout Will Be ‘Modest,’ Energy Disruptions Will Be....
Crypto could be one of few ways for Russians to help Ukrainians as any identified assistance to Ukraine is considered as high treason by the Russian state. While the West is growing increasingly concerned over Russia’s potential use of cryptocurrencies to evade sanctions, some Russians are using their Bitcoin (BTC) to help Ukrainian people.Pavel Muntyan, a renowned Russian animation producer and creator of the animated web series “Mr. Freeman,” has called on anti-war Russians to support Ukrainian citizens amid Russia’s ongoing military attack on the country.Muntyan took to Twitter on....
The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to Save Power Cryptocurrency mining in Moldova has been targeted amid a deepening energy crisis as the winter approaches. The country’s government took steps this week to limit electricity consumption, including imposing a complete ban on....
The platform will match many donations in crypto, fiat and nonfungible token purchases toward humanitarian help for Ukraine through March 31. Cryptocurrency exchange Crypto.com plans to use its ad time during the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine.In a Wednesday announcement, Crypto.com CEO Kris Marszalek said the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign aimed at helping those suffering under war-torn conditions in Ukraine. The CEO did not specify what the campaign would....