roadrunner

The British multinational investment bank and financial services holding company, HSBC, has revealed it has partnered with the blockchain virtual gaming platform The Sandbox. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter The Sandbox metaverse. HSBC Steps Into the Metaverse Over the last 12 months, The Sandbox has attracted a great number of businesses and celebrities to the blockchain virtual gaming platform. For instance, The Sandbox has enticed Snoop Dogg, Deadmau5, Atari, The Care Bears, The Smurfs, Gucci, Warner Music Group, Adidas, PWC Hong Kong, Samsung, Square Enix, Ubisoft, and more. On Wednesday, Animoca Brands and the British bank HSBC announced the companies have inked a partnership deal and that the global financial services provider will engage with other finance providers and sports communities within The Sandbox metaverse. “The groundbreaking partnership between The Sandbox and HSBC will see the global financial services provider acquire a plot of LAND, virtual real estate in The Sandbox metaverse, which will be developed to engage and connect with sports, esports, and gaming enthusiasts,” the announcement on Wednesday notes. The press release highlights a PWC report that estimates the metaverse market will grow from $45.4 billion to $1.5 trillion by 2030. The financial institution HSBC sees significant potential in the metaverse and Web3 in the future. “The metaverse is how people will experience Web3, the next generation of the Internet – using immersive technologies like augmented reality, virtual reality, and extended reality,” the chief marketing officer at HSBC Asia-Pacific, Suresh Balaji, said in a statement. The HSBC executive added: At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve. Native Token SAND Gathers 336% Against the U.S. Dollar in 12 Months The Sandbox blockchain metaverse has seen enormous growth during the last year, and according to nonfungible.com’s NFT market tracker, The Sandbox is the third largest project in the last seven days in terms of sales, with $7.6 million in weekly volume. Furthermore, the project’s native token SAND has gained 336.2% year-to-date, according to today’s market statistics. At the time of writing, SAND’s $3.3 billion market capitalization represents 0.18% of the crypto economy’s $1.86 trillion valuation. Following the Animoca Brands and HSBC partnership announcement, SAND gained over 9% against the U.S. dollar on Wednesday. What do you think about HSBC entering the metaverse via The Sandbox blockchain virtual universe? Let us know what you think about this subject in the comments section below. View the full article

More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last year’s crackdown on the industry in China, has been blamed for persisting problems with electricity shortages and blackouts. The government has gone so far as to claim that illegal players in the sector are threatening the country’s economic security. Following inspections ordered by President Kassym-Jomart Tokayev, 55 mining farms have “voluntarily” closed down, Kazakhstan’s Financial Monitoring Agency announced Tuesday. They have completely suspended activities, dismantled and removed their equipment from a number of locations. In February, Tokayev tasked the watchdog with identifying all enterprises minting digital currencies and verifying their tax, customs, and technical documentation. The agency was expected to conduct the checks together with other government bodies and report back by mid-March. Some of the mining companies that have ceased operations are affiliated with well-known entrepreneurs in Kazakhstan like Alexander Klebanov from Pavlodar region and Bolat Nazarbayev, brother of former president Nursultan Nazarbayev, who ruled the country for decades after the dissolution of the Soviet Union. According to media reports, Bolat Nazarbayev has been involved in cryptocurrency mining in Northern Kazakhstan. President Tokayev’s administration has been targeting business interests of the Nazarbayev family after quelling political unrest in January which affected miners as well. Other public figures with alleged investments in cryptocurrency mining include the former chairman of the board of the Qazaqgaz energy company, Kairat Sharipbaev, and Erlan Nigmatulin, a prominent businessman from Karaganda region. Inspectors Close Down More Than 50 Illegal Mining Farms Government inspectors have also shut down 51 illegal crypto farms, the owners of which hadn’t notified authorities of starting activities or had connected their hardware to the power grid without permission. Some of these facilities had been located in special economic zones, evading tax and customs duties. Among the mining companies engaged in illegal activities are entities linked to one of Kazakhstan’s richest people, Kairat Itemgenov. Other firms running underground mining farms have been associated with Tlegen Matkenov, former head of department at the Ministry of Internal Affairs. The Financial Monitoring Agency has filed 25 criminal cases and seized 67,000 units of mining equipment. The regulator claims the latest crackdown has helped to reduce energy consumption in the country by 600 MWh. The lack of sufficient regulation of mining and cryptocurrencies, the agency warned, creates risks for the country’s financial system and its citizens. Its representatives are participating in a working group tasked to develop new legislation for the crypto industry together with experts from the ministries of digital development, energy, and finance. Kazakhstan became a crypto mining hotspot in 2021, but problems with energy supply have since forced some mining companies to relocate to other countries such as the U.S. The National Association of Blockchain and Data Center Industry of Kazakhstan recently revealed that authorized miners have already moved a third of their equipment out of the country. Do you expect Kazakhstan to continue to clamp down on cryptocurrency mining? Share your thoughts on the subject in the comments section below. View the full article

Following days of consolidation, bitcoin rallied above $40,000 on Tuesday, which comes as markets prepare for today’s Fed meeting. ETH also climbed, moving away from its recent support point in the process. Bitcoin BTC finally broke out of its recent streak of price consolidation on Tuesday, as the world’s largest cryptocurrency climbed to almost a one week high. Following a low of $38,567.64 yesterday, BTC/USD has so far risen to an intraday high of $41,717.45 so far this session. Today’s high saw BTC break past one resistance level at $40,590, but it lost steam once it approached the ceiling of $42,000. Wednesday’s surge comes as bulls re-entered the market, heading into the Federal Reserve’s policy meeting, where it is expected that interest rates will be hiked by 25 basis points or 0.25%. Looking at the chart, the RSI indicator shows this, with price strength moving beyond its resistance of 49.6 for the first time since March 9. Should this momentum be sustained, traders will likely target a higher high above $42,000, potentially even the $45,000 ceiling. Ethereum ETH was also higher during today’s session, and as of writing, was trading over 6% higher than yesterday’s low of $2,526.40. Following yesterday’s low, which fell below support of $2,550, ETH/USD hit a peak of $2,722.99 today, as Jerome Powell readies himself for this afternoon’s meeting. Although up, ETH has lost some of its earlier gains, with the $2,750 point providing price uncertainty, resulting in bears viewing this as an entry point. This comes as the 14-day RSI also appears to have run into a wall of its own, with the 50.34 level acting as a ceiling. Should ETH be able to jump past both of these hurdles, we will likely see prices track above $3,000, and this afternoon’s decision could be the trigger. Do you believe the Fed should hold off on a rate hike? Leave your thoughts in the comments below. View the full article

PRESS RELEASE. Vancouver, Canada – MetaBlox has completed their seed round and have raised over $2 million ​​from some of the most highly regarded firms in Web3. The seed funding is co-led by Synergis Capital and CollabCurrency, followed by NFT Technologies, SNZ holdings, Future Life, Slope, CrowdCreate, and multiple technology and few crypto-focused family offices. While MetaBlox secured funding, they are also ecstatic that they have developed partnerships and relationships with some of the most prominent figures in the space today. The funds Metablox has raised will accelerate their Network Protocol roll out. They are hiring a team to work on MetaBlox full time. They will use the initial funds to focus on marketing their network and garnering as much exposure to the crypto community as a user-centric network. Once they have the initial exposure established, MetaBlox will reward its users with passive income and income generating capabilities. The team at MetaBlox believes the funding will bootstrap their network and reach. They plan on launching their miner in Late 2022. About MetaBlox The MetaBlox protocol is based on DID (Decentralized-ID) and VC (Verifiable Credential) W3C standards. It will enable developers to disrupt the current Web2 standards and return profits back to the users. The protocol itself is blockchain agnostic and they are currently working on developing it on all major L1 networks. MetaBlox app will allow for users to create and manage digital identities through the following components Decentralized Identifiers Identity Management and Embedded Encryption Because of the MetaBlox Protocol, they will offer a free decentralized WiFi network as their anchor application. As users move around the world with their unique DID (Decentralized-ID), their device will automatically connect them to all available MetaBlox hotspots. Besides broadband wireless access, MetaBlox will use DID/VC model to provide decentralized edge computing as well edge storage/cache systems to support a decentralized foundation layer for native Web3 applications. This will support the implementation of Trust over IP stack in Web3. As a DID-driven protocol with supporting infrastructure, MetaBlox can also support other applications in DeFi KYC, GameFi ID, and NFT airdrops. They will soon launch a mobile app for users. The team is led by industry leaders in telco, fintech, and blockchains with the head office in Vancouver Canada. Social Links: Telegram: https://t.me/ChatonMetaBloxCommunity Telegram Announcements: https://t.me/JointoMetaBloxOfficial Twitter: https://twitter.com/MetabloxNetwork Medium: https://medium.com/@MetabloxNetwork Discord: https://discord.gg/BSEnFhTMzX Linkedin: https://www.linkedin.com/company/metablox/ Instagram: https://instagram.com/metabloxnetwork?utm_medium=copy_link Media contacts Company: MetaBlox Technologies Inc. Contact: Nigel Nie, Community manager E-mail: info@metablox.io Website: https://metablox.io/ Twitter: https://twitter.com/MetabloxNetwork SOURCE: MetaBlox Technologies Inc. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Gladstone Arantes, a director of the Brazilian Development Bank (BNDES), gave new details about the progress of the Brazilian Blockchain Network, a project that has been in development since 2018. The network will be created on top of the Hyperledger Besu 2.0, which uses a proof-of-authority consensus mechanism. The final goal of this project is to move public spending to the network in order to increase the transparency of these fund movements. Brazilian Blockchain Network Advances The Brazilian Blockchain Network, a project that was conceived back in 2018, is now in its development phase. Gladstone Arantes, head of blockchain initiatives at the Development Bank of the country (BNDES), revealed new insights about the development and the technical data of the project. At the Ethereum.Rio event, Arantes stated the project had selected Hyperledger Besu 2.0 to be its base platform, and that the network would also be using a proof-of-authority consensus system. Proof-of-authority means there will be no mining on top of the chain, and that state actors will maintain control of the network. This follows the premise of simplifying the operation of the blockchain, so it’s possible to be easily understood by anyone wanting to examine it. Laying the Groundwork Arantes explained that the Brazilian Blockchain Network will serve as a starting point for institutions to build their applications on a trustable platform without having to reinvent the wheel. On this subject, Arantes stated: What happened in the Brazilian government and still happens is that, for each use case, it creates its own infrastructure and network. This blocks innovation. It’s like we were going to make Google, but first we had to make the internet. Therefore, after discussing with our partners, we saw that it was necessary to create a single structure. One of the goals of the project, which is being developed in conjunction with other state and private organizations, is to bring more transparency and awareness to public spending, and it has its inspiration in other similar projects that are being developed in regions like Latin America, Europe, and Spain. Arantes did not make reference to a possible completion date. However, the project repository indicates their team is deploying a laboratory network and drafting the regulation of the Brazilian Blockchain Network. Brazil is now making attempts to establish its own central bank digital currency (CBDC), with its central bank studying the possible applications of a digital real and the benefits it could have for potential users. What do you think about the development of the Brazilian Blockchain Network and the technical details behind it? Tell us in the comments section below. View the full article

Aptos, a new startup created by some of Meta’s former employees involved in the Diem project, has announced it has raised $200 million for its upcoming goal of creating a scalable blockchain system. The investment, conducted in a strategic funding round, involves some well-known VC names, including Tiger Global, Katie Haun, Multicoin Capital, 3 Arrows Capital, FTX Ventures, and Coinbase Ventures. Aptos to Propose Scalability Solutions A group of Meta’s ex-employees that worked on Diem, and abandoned the company in December, are now dedicated to developing their own blockchain system aiming for it to be used by millions. Aptos, the startup the group founded, has announced the company raised $200 million in its first funding round, which was qualified as “strategic.” The company had the support of several VC companies in this funding round, including Tiger Global, Katie Haun, Multicoin Capital, 3 Arrows Capital, FTX Ventures, and Coinbase Ventures, putting it at unicorn status. Aptos will make use of the funds to build a more scalable blockchain, which users and companies can rely upon without having to pay exorbitant fees. While some blockchains already on the market today claim to do just this, the Aptos team believes there is room for improvement in this area. Aptos CTO Avery Ching told Techcrunch: Current blockchains are just not as reliable as existing financial rails, we’ve seen issues of downtime and outages that last for hours. Web3 applications and financial ramps are the main focus of Aptos for the design of its blockchain product. Aptos’ CEO Mo Shaik stated: Our goal is to work with some of the world’s largest brands and tech companies to really build a web3 ecosystem for the masses. The Scalability Problem Scalability has been one of the main problems current generation blockchains are trying to solve to bring the technology to mass adoption. Blockchains like Ethereum have suffered from an exodus of users due to the high costs of fees, while the blockchain has relied on L2 (Layer 2) layers to deal with excess traffic. Other blockchains like Solana and Avalanche have addressed this problem by introducing various solutions. However, these two chains have experienced downtime in their services due to different issues. Aptos’ proposal seeks to complement these systems with another blockchain, based in a “Byzantine Fault Tolerance” protocol, that according to the team has been tested without facing any downtime issues. What do you think about the $200 million raised by Aptos and its goal of creating a more scalable blockchain? Tell us in the comments section below. View the full article

Cryptocurrency exchange Binance has announced that it has received a full license from the Central Bank of Bahrain. “The crypto asset license will allow Binance to provide crypto-asset trading, custodial services, and portfolio management to customers under the supervision of the Bahrain regulators,” said the exchange. Binance Now Licensed in Bahrain Cryptocurrency exchange Binance announced Monday that it has been granted a crypto asset service provider license from the Central Bank of Bahrain (CBB). Changpeng Zhao (CZ), founder and CEO of Binance, tweeted: Binance has been granted the first license for a global crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) by the Central Bank of Bahrain. He added: “The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world.” The cryptocurrency exchange company received in-principle approval from the central bank in December last year. And in-principle approval means that Binance still needed to complete the full application process. Rasheed Al Maraj, governor of the Central Bank of Bahrain commented: “Developing regulations aligned with global trends is a key objective for us at the CBB. We continue to work with partners and industry leaders such as Binance to develop regulations that enable innovation and best practices.” The announcement adds: The crypto asset license will allow Binance to provide crypto-asset trading, custodial services and portfolio management to customers under the supervision of the Bahrain regulators. What do you think about Binance receiving a license to operate a crypto exchange business in Bahrain? Let us know in the comments section below. View the full article

Over the last year, celebrities have been dabbling in non-fungible token (NFT) collectibles and a few of their purchases have brought them attention. For instance, a number of socialites, luminaries, big-name personalities, and today’s top brass have purchased NFTs from the Bored Ape Yacht Club (BAYC) collection. While they paid a pretty penny in ethereum for the BAYC NFTs, many celebrities have deep pockets when it comes to other NFT collections as well. Celebrities Love NFTs A whole bunch of famous people own non-fungible tokens (NFTs) and the trend has picked up a great deal during the last 12 months. A lot of times, celebrities share their NFT purchases on social media when it comes to significant acquisitions like expensive Bored Ape (BAYC) NFTs. Records show a few dozen well known public figures own BAYC NFTs, as the collectibles have become a status symbol of sorts. Stars like the NBA’s Stephen Curry, Shark Tank’s Mark Cuban, NBA legend Shaquille O’Neal, comedian Jimmy Fallon, and rap star Snoop Dogg are all BAYC or MAYC owners. In addition to the BAYC NFTs, celebrities are also collecting a number of NFTs from other collections and many luminaries have vast quantities of NFTs. Eminem Marshall Mathers III, professionally known as Eminem is a hip-hop star and an avid NFT collector. At the end of April 2021, Eminem launched his first NFTs, which were beat-inspired animated digital collectibles made for fans. In August, with his friend and CEO of Goliath Records, Paul Rosenberg, Eminem participated in the Makersplace Series A funding round. Then in January 2022, Eminem purchased Bored Ape Yacht Club #9055 for $452K. Since then, the American hip-hop star has bought a whole lot more NFTs and he still owns BAYC #9055. Records show Eminem has 4,064 NFTs from 134 collections and he’s a big fan of BAYC, Mutant Ape Yacht Club (MAYC), Clonex, Doodles, Kongz, World of Women (WoW), and a Gucci Grail Mint Pass NFT. Eminem owns MAYC #922 worth $45K, Clonex #10644 valued at $29K, and Clonex #17146 worth $29K as well. Slim Shady has a lot of ethereum (ETH) in his wallet as well and at the time of writing, he holds 152.41 ether worth around $395K. On Wednesday, December 29, 2021, Eminem’s wallet had around 0.1722 ether but on Friday, January 28, 2022, he accumulated a hefty sum of 387.43 ethereum (ETH). Shaquille O’Neal The basketball legend and sports analyst for Inside the NBA, Shaquille O’Neal, commonly referred to as Shaq, is also a big NFT collector. Data shows Shaq’s most valuable NFT, in terms of estimated price value, is Mutant Ape Yacht Club (MAYC) #14452 worth $44.1K but he also owns Creature #9018 worth $5.2K, and many other digital collectibles. At the time of writing, Shaq’s wallet holds 890 NFTs from 90 different collections. Currently, Shaq doesn’t keep as much ethereum in his wallet as Eminem, as his wallet only holds 0.5928 ether worth $1,537, using today’s ETH exchange rates. A number of people have sent Shaq ERC20 tokens of all types and unique names as well. Paris Hilton The media personality, socialite, and entrepreneur, Paris Hilton has been a fan of digital currencies for quite some time. Hilton is also a huge fan of NFTs and the metaverse and she’s got a significantly sized collection of NFTs today. Statistics show Hilton has 1,699 NFTs from 118 collections. Hilton’s most valuable NFT, in terms of estimated price value, is Bored Ape Yacht Club #1294 worth $211K. The businesswoman and model is also a fan of her own NFTs, and other collections like Clonex, Machine Hallucinations, and a Gucci Grail Mint Pass. Hilton also keeps a low amount of ethereum in her wallet, as she currently holds 0.1119 ether worth $290. Although, the wallet holding all her NFTs has around 1.8 wrapped ether (WETH) and $53.6K worth of origin protocol (OGN). Gwyneth Paltrow The American actress and businesswoman Gwyneth Paltrow has been into bitcoin for years and these days she is all about non-fungible token (NFT) collectibles. Currently, Paltrow’s wallet holds 82 NFTs from 12 different collections. Her most valuable, in terms of estimated price value, is a BAYC NFT (#6141) worth $223K. But Paltrow is also a fan of World of Women (WoW) NFTs and the popular Gucci Grail Mint Pass. Paltrow has a myriad of WoW NFTs such as Woman #7743, #7742, and #7812. Furthermore, Paltrow’s wallet only holds 0.477 ETH worth $1,236 using current exchange rates. Collecting Blockchain Art Gives the Public a Whole New Perspective Celebrities buying expensive art has been a trend for a long time, but unlike a private art sale, blockchains open up a whole different perspective. Blockchains show their whole collections and an assortment of other data that may have gone unnoticed in a traditional or private setting. The trend of famous people purchasing NFTs doesn’t seem like its going to slow down any time soon and the fact that everyone can see their shiny digital collectibles probably pleases them. What do you think about celebrities and their fascination for NFTs like Bored Apes and many other collections? Let us know what you think about this subject in the comments section below. View the full article

Over the last week, the United States and president Joe Biden’s administration tightened sanctions against Russia a great deal. The U.S. banned Russian energy imports, a number of other types of imported goods, and a series of harsh financial sanctions against Russia. In the midst of a restricted global economy, the top two privacy-centric crypto assets monero and zcash saw a significant increase in value last week. Top 2 Privacy Coins Surge While Sanctions Against Russia Continue As economic sanctions continue to restrict the world’s trade further, privacy coins may be reaping the benefit from a tighter financial world. On March 8, the top two privacy-centric cryptocurrencies monero (XMR) and zcash (ZEC) jumped 20% in value. The crypto community quickly took notice of the action and discussed the subject on social media platforms. That day, XMR jumped over 20%, ZEC lifted in value by 26% and other privacy-focused crypto assets like SCRT and ZEN jumped higher. I really think Privacy coins are due a pump in 2022. All this Russia stuff will also push it further on. A coin that can store value privately will be very valuable in uncertain times. — Kamal (@eth_kamal) March 12, 2022 Five days later and during the last 24 hours, the market capitalization of all the privacy coins in existence is up 1.4% to $10 billion. Seven-day statistics five days after XMR’s and ZEC’s initial pump last week shows both coins still hold double-digit weekly gains. Monero is still up 11.1% and ZEC has gained 29.7%, according to weekly metrics. Out of the $10 billion in privacy coins today, XMR and ZEC dominate in terms of market valuations. what if Russia is buying privacy coins and not bitcoin lmfao — im rotatingggg💎 (@TheRotatooor) March 8, 2022 Monero has a ​​$3.3 billion market cap and zcash has a $1.8 billion capitalization on Sunday afternoon (EST). Year-to-date, however, XMR is down 17.2% since this time last year and it’s $3.3 billion represents only 0.18% of the entire $1.8 trillion crypto economy. ZEC on the other hand is up during the last 12 months 4.4% but its market valuation equates to 0.10% of the entire crypto economy’s value. Regulators and bureaucrats have been discussing the introduction of regulatory actions against the use of using crypto assets to skip sanctions. Coinbase has noted that it has blocked 25,000 addresses belonging to Russian entities and this week, the blockchain surveillance company, Chainalysis, launched a screening tool designed to prevent sanction evasion. What do you think about privacy coins surging last week after financial sanctions tightened the global economy and trade? Let us know what you think about this subject in the comments section below. View the full article

Germany’s Deutsche Bank has become the latest financial services giant to confirm it’s leaving Russia over Moscow’s military assault on Ukraine. The bank has been reducing its Russian exposure since 2014 when Russia annexed Crimea and the conflict in Eastern Ukraine erupted. Amid Ongoing War in Ukraine, Deutsche Bank Pulls Out of Russia Deutsche Bank, Germany’s largest banking institution, is scaling down operations in the Russian Federation. The bank announced its move in a statement posted on Twitter late on Friday, condemning Russia’s invasion of Ukraine. The financial conglomerate reaffirmed its support for the German government and its allies in “defending our democracy and freedom.” It also reminded it had already substantially reduced its exposure to the Russian market since 2014. DB noted that like others in the sector, abiding by legal and regulatory obligations, the bank is now winding down its remaining business in Russia while assisting its non-Russian clients in efforts to reduce their operations in the sanctioned country. It also insisted: There won’t be any new business in Russia. Deutsche Bank’s exit follows similar moves by major American investment banks Goldman Sachs and JPMorgan Chase. Citigroup, the U.S. bank with the biggest Russian exposure, is limiting consumer business operations there as well. Meanwhile, according to Reuters, Austria’s Raiffeisen Bank International is also considering a decision to leave the Russian Federation. The report quoted sources familiar with the matter without providing more details. Amid mounting sanctions on Russia, including cutting some of its banks from SWIFT, payment and remittance providers like Western Union, Paypal, Remitly, and Revolut suspended services for Russian users. Visa, Mastercard and American Express halted operations in the country, too. Western allies have also addressed concerns that Moscow may use crypto assets to evade sanctions. Do you think other European banks will also pull out of the Russian market? Share your expectations in the comments section below. View the full article

Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions. Goldman Sachs and JPMorgan Scale Down Russian Operations Goldman Sachs Group and JPMorgan Chase have become the first major American banks to announce they are leaving Russia, a process that according to industry experts may take months if not years. Their decisions follow the imposing of unprecedented sanctions against Moscow over its military assault on neighboring Ukraine. The restrictions, which have affected the financial sphere, make it harder for banking institutions to operate in the Russian Federation. Reuters notes that while European banks are more exposed to Russia, U.S. banks have significant exposure as well, totaling $14.7 billion, according to data provided by the Bank of International Settlements. In a statement, Goldman Sachs said it’s acting in compliance with regulatory and licensing requirements. A source revealed that the bank is currently winding down its operations rather than exiting them immediately. Goldman’s credit exposure to Russia amounts to $650 million. Its shares fell 2.8% to $325.97 in midday trading on Wednesday. “In compliance with directives by governments around the world, we have been actively unwinding Russian business and have not been pursuing any new business in Russia,” JPMorgan said in its statement. The bank elaborated that its current activities are limited while it’s helping global clients close out pre-existing obligations, manage Russian-related risk, and act as a custodian to clients. Meanwhile, Citigroup has announced its consumer business operations in Russia are now limited and the bank is implementing a plan to divest the franchise. With almost $10 billion, Citigroup is the U.S. bank with the biggest Russian exposure and has already admitted through a financial executive that its losses may potentially reach half of that total. According to Refinitiv data quoted in the report, Goldman Sachs generated $19.5 million in investment banking income in 2021. With $32.8 million, JPMorgan was second only to Russia’s VTB Capital. Citigroup generated $22.8 million. Russia has been targeted with growing sanctions over the war in Ukraine, limiting its access to the global financial system and crypto assets. Several Russian banks have been cut from SWIFT the interbank messaging network. Payment and remittance providers like Western Union, Paypal, Remitly, and Revolut have suspended services in the country. Visa and Mastercard also halted operations. Do you expect more global banking institutions to exit the Russian market? Tell us in the comments section below. View the full article

U.K. watchdog, the Financial Conduct Authority (FCA), has told firms running crypto ATMs in the country that they are operating illegally and must therefore shut down their machines. Operators that fail to heed the warning will face enforcement action, the FCA said. Crypto ATM Providers Operating Illegally The U.K. financial sector watchdog, the Financial Conduct Authority (FCA), has said it asked cryptoasset service providers that operate crypto ATMs to “shut their machines down or face enforcement action.” The watchdog insisted that since none of the crypto firms that it has registered is approved to operate a crypto ATM, any one of these companies that operates one in the U.K. is doing so illegally. In a statement released on March 11, 2022, the FCA suggested that the decision to go after crypto ATM operators of the reported 81 machines came after a U.K. judge had ruled against one crypto ATM operator, Gidiplus. According to the statement, Gidiplus wanted the country’s Upper Tribunal to allow it to continue trading while it waits for the determination of its appeal — an appeal against the FCA’s decision to refuse its application for registration under the Money Laundering Regulations (MLR). However, the judge hearing the case reportedly determined that there was “a lack of evidence as to how Gidiplus would undertake its business in a broadly compliant fashion.” The FCA, in the meantime, said it had found that some 110 crypto firms that were on its list of unregistered crypto firms are now no longer operational. The watchdog concludes its statement by warning consumers about the risks of trading cryptocurrencies. The statement says: We regularly warn consumers that cryptoassets are unregulated and high-risk which means people are very unlikely to have any protection if things go wrong, so people should be prepared to lose all their money if they choose to invest in them. FCA’s Stance on the Use of Crypto to Evade Sanctions Meanwhile, in a different statement, the FCA clarified that the country’s financial sanctions regulations “do not differentiate between cryptoassets and other forms of assets.” The watchdog added that any “use of cryptoassets to circumvent economic sanctions” is therefore determined to be a criminal offense under the Money Laundering Regulations 2017, and regulations made under the Sanctions and Anti-Money Laundering Act of 2018. The FCA’s warning comes as concerns are voiced that sanctioned Russian entities will attempt to use cryptoassets to evade sanctions. Nevertheless, the watchdog said in the statement that it “has already written to all registered cryptoasset firms and those holding temporary registration status to highlight the application of sanctions on various entities and individuals.” What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

The Supreme Tribunal of Justice of Venezuela has stated in a recent sentence that the tasks developed by Sunacrip, the national cryptocurrency and bitcoin mining watchdog, have a strategic significance for the country. The sentence also voids certain resolutions taken in a case where another court rolled back the seizure of more than 1,000 bitcoin miners. Sunacrip Role Supported by National Courts in Venezuela A sentence issued by the highest tribunal in Venezuela recognized as strategic the role that the national cryptocurrency watchdog, Sunacrip, fulfills as the organization that controls mining operations. The sentence, which voids some resolutions taken in a prior sentence where another tribunal ordered Sunacrip to return more than 1,000 miners seized in November to its owners, also declares that bitcoin miners have to comply with certain conditions to develop these activities on Venezuelan soil. According to the Venezuelan cryptocurrency-linked attorney Criptolawyer, who analyzed the sentence and shared her impressions about it on social media: The Political-Administrative Chamber warns (in case we doubted it) that the activities carried out by Sunacrip are of a national strategic nature (supervision, authorization, inspection of the crypto assets system) and therefore those who intend to dedicate themselves to digital mining in Venezuela must comply with registration at RISEC and RIM. The RISEC, translated as the Comprehensive Registry of Cryptoactive Services, is defined in a providence issued by Sunacrip as having the objective to “digitally systematize the information of the users who use the (cryptocurrency) system.” The RIM, translated as the Comprehensive Mining Registry, is integrated by all the miners conducting mining activities legally on Venezuelan soil. Mistakes Were Made The new sentence, that corrects the earlier sentence on the seizure of the aforementioned bitcoin miners, seeks to correct a series of mistakes that, in the view of the judge, the first tribunal made. On the earlier sentence and its treatment of the situation, the sentence considered that: It seriously compromised the public interest and transcended the interest of the parties involved, since the possibility of threatening the stability of the nation is evident. The earlier sentence opened the door for companies and individuals to fight seizure and other Sunacrip-related cases in tribunals, a situation that the recent sentence is considered to have now rectified. What do you think of the new sentence supporting the role of Sunacrip and its activities as strategic for Venezuela? Tell us in the comments section below. View the full article

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 Justice (DOJ) task force, KleptoCapture, will enforce sanctions against Russian oligarchs as well as target anyone who helps hide their money, including crypto service providers, a senior DOJ official reportedly said Friday. The KleptoCapture task force was launched on March 2. It is “an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States has imposed, along with allies and partners, in response to Russia’s unprovoked military invasion of Ukraine,” the DOJ described. Noting that the KleptoCapture task force will take a “broader view” of who it regards as a facilitator in sanctions evasions, the DOJ official stated: Our goal is to bring any appropriate charge against any sanctioned Russian oligarch or entity, and those who would help them to evade economic sanctions. In addition to those who willingly aid in money laundering, the official stressed that “actors who stick their heads in the sand, or blind themselves to moving dirty money may face money laundering charges for their role in concealing those proceeds.” The DOJ official emphasized: Financial institutions, banks, money transmission services, cryptocurrency exchanges who willfully fail to maintain adequate anti-money laundering policies and procedures and allow these oligarchs to move money, to allow for the flow of their money, will be in the crosshairs of this investigation. Attorney General Merrick Garland said last week that the DOJ would “leave no stone unturned” in order to seize assets in violation of the new sanctions. “The task force is going to bring together prosecutors, agents, analysts, translators from across the department and across the U.S. government to pursue the crimes and the assets of Russian oligarchs, and others who have enabled the Russian regime responsible for the invasion of Ukraine,” the senior DOJ official detailed, adding: Those enablers have amassed huge wealth through corruption, extortion and the degradation of the rule of law. Success for this task force is defined by dismantling, disruption and discomfort for those enablers and their network. The official clarified that just because oligarchs are subject to U.S. sanctions, it does not mean the Justice Department can simply seize their property, elaborating: “Simply being blocked, or simply belonging to a known oligarch is not in itself sufficient for the Department of Justice to forfeit that property or to obtain a seizure warrant.” What do you think about the KleptoCapture task force targeting crypto exchanges? Let us know in the comments section below. View the full article

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared his cryptocurrency investment strategy. He revealed that 20% of his portfolio is now in cryptocurrencies and blockchain. “The whole point is you don’t know who is going to win.” Kevin O’Leary’s Cryptocurrency Investment Strategy O’Shares ETFs chairman and Shark Tank star Kevin O’Leary has shared his crypto investment strategy in an interview with CNBC Friday. Firstly, he said one-fifth of his investment holdings are tied up in cryptocurrencies or companies operating in the crypto space. Mr. Wonderful said: I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain. In November last year, he said that crypto accounted for 10% of his portfolio. His investments in cryptocurrency exceeded his gold investments for the first time in October last year. O’Leary was asked whether some cryptocurrencies will be around in a decade. Noting that he factored that risk into his strategy, the Shark Tank star emphasized: You have to be diversified. I own 32 different positions, including equity FTX itself. O’Leary became a paid ambassador and spokesperson for FTX, the crypto exchange founded by 30-year-old billionaire Sam Bankman-Fried, in August last year. The Shark Tank star elaborated: The whole point is you don’t know who is going to win. Is Ethereum going to win? Is Solana going to win? Is it Helium or is it Avalanche? I own them all. Commenting on the executive order on the regulation of cryptocurrency signed by President Joe Biden Wednesday, Mr. Wonderful said: “It wasn’t an all-out ban, so that’s good news.” Many people in the crypto industry welcome Biden’s executive order. Some say it provides legitimacy to crypto while others are glad that it does not contain extremely restrictive measures they had anticipated. However, O’Leary expressed concerns about the way Biden’s directive includes an emphasis on climate risks associated with cryptocurrency. He said he sold his positions in publicly traded bitcoin mining firms after Biden’s executive order. Last week, the celebrity investor revealed that he had a meeting with a group of U.S. senators regarding cryptocurrency regulations, particularly how they apply to institutional investors. He has been saying for quite some time that the price of bitcoin will “appreciate dramatically” when institutions are able to invest in cryptocurrency. He expects that it would take two to three years. What do you think about Kevin O’Leary’s comments? Let us know in the comments section below. View the full article

Apple co-founder Steve Wozniak expects the price of bitcoin to hit $100,000. “I just really feel it from all of the interest,” he explained. “The interest in crypto is so high.” Steve Wozniak’s Bitcoin Price Prediction Apple co-founder Steve Wozniak shared his view on cryptocurrency in an interview on the Wild Ride with Steve-O podcast, published last week. He began by sharing his bitcoin investment experience. “I bought a bunch of bitcoin at the start to say how do you play with this new thing? How do you buy something online? I conquered that. How do you buy things in other countries, and how would you pay for a donut in another country? How do you find an ATM that works on your bitcoin? I want to experiment and learn it all,” the Apple co-founder described, adding: And then bitcoin went way up. Well, I got scared and I sold all my bitcoin except one bitcoin. Wozniak explained that his purpose is “to have enough to play with, experiment with, but not make money on.” However, “two times it’s gone way up and made money,” he noted. The Apple co-founder proceeded to make a prediction about the price of bitcoin: Just recently I think bitcoin is going to go to $100,000. He explained: “I just don’t know where you get that feeling. I can’t put any mathematics to it. I just really feel it from all of the interest. The interest in crypto is so high.” Wozniak further revealed that he recently “put a bunch of money” into an online wallet at the Nasdaq-listed crypto exchange Coinbase. “Pretty much, it’s sitting right where it was right now. [It] went way up, it doubled, and then it halved again,” he shared. While the Apple co-founder has some money in bitcoin, he explained that he’s not an investor. “I don’t invest,” he said. “I’ve never invested in stocks in my life. I’ve never used Apple Stock on the iPhone. Ever. Because why? It goes to my happiness formula.” He opined: I found that my head gets to a peaceful spot where it’s not worrying about everything being up and down, up and down, up and down like day traders. Wozniak has said several good things about bitcoin in the past. Last week, he said Bitcoin is the only cryptocurrency that is “pure gold mathematics.” In July last year, he said Bitcoin is a “mathematical miracle.” What do you think about Steve Wozniak’s prediction? Let us know in the comments section below. View the full article

Payment giant Stripe has brought back crypto support after it stopped processing bitcoin payments four years ago. The company now says, “Our optimism for the future of crypto was not unfounded … Crypto is going mainstream.” Stripe Brings Back Crypto Support Payment giant Stripe has re-entered the crypto space after four years, with the launch of a suite of products to support crypto businesses. Stripe is a payment infrastructure company headquartered in San Francisco and Dublin, with 14 global offices. According to its website, millions of companies in over 120 countries use Stripe to start, run, and scale their businesses, including Amazon, Google, Shopify, Microsoft, Spotify, Uber, and Nasdaq. Stripe co-founder John Collison announced on Twitter Thursday that his company now supports crypto businesses, including exchanges, on-ramps, wallets, and non-fungible token (NFT) marketplaces. Stripe was one of the first major companies to embrace bitcoin. “In 2014, we became the first major payments company to support Bitcoin payments,” the company explained on its website. However, Stripe stopped processing Bitcoin transactions in April 2018 citing block size issues, which the company said led to “bitcoin becoming less useful for payments.” Four years after Stripe stopped supporting bitcoin payments, the company explained in a blog post, “We’ve learned that our optimism for the future of crypto was not unfounded.” The payment company elaborated: From new developments in blockchain infrastructure to widespread interest from major financial institutions, crypto is going mainstream. “To better support our customers and continue to grow the GDP of the internet, we are working to give crypto businesses access to today’s global financial infrastructure — starting by partnering with FTX and Blockchain.com to broaden consumer access to crypto,” Stripe further noted. What do you think about Stripe bringing back crypto support after four years? Let us know in the comments section below. View the full article

On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind the Cryptopunks and Meebits brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.” Bored Ape Creators Yuga Labs Acquires Cryptopunks and Meebits Collections From Larva Labs Last year and during the course of 2022, non-fungible tokens (NFTs) have seemingly become a mainstay within the crypto industry. One of the teams behind the fifth-largest NFT collection, in terms of all-time sales volume, Bored Ape Yacht Club, announced the acquisition of the IP tied to two other popular NFT collections. The two collections happen to be the Larva Labs’ issued Cryptopunks and Meebits collections. From the official Yuga Labs Twitter account the team tweeted: Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from Larva Labs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners. ‘What’s Good for Punks Is Good for Apes’ While BAYC is the fifth-largest NFT project by all-time sales volume (ATSV), dappradar.com NFT collection stats indicate Meebits holds the top ATSV record today with $7.54 billion in ATSV. Meebits’ sister project Cryptopunks is below the collection with $2.65 billion in ATSV, in comparison to BAYC’s ATSV which is ​​$1.41 billion. Yuga’s Mutant Ape Yacht Club (MAYC) is the ninth-largest in terms of ATSV with $895.53 million at the time of writing. Yuga’s Twitter thread on Friday notes that the team has “always admired” Cryptopunks and the Larva Labs founders. “They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga,” the team added. Yuga’s tweetstorm further insists that the BAYC ecosystem “will remain the center” of the firm’s universe. “We believe that what’s good for Punks is good for Apes and the rest of the space. Likewise, what’s good for Apes is good for Punks. We want to grow the pie, not fight over slices,” Yuga’s announcement concludes. What do you think about Yuga Labs acquiring the Cryptopunks and Meebits brands? Let us know what you think about this subject in the comments section below. View the full article

Non-fungible token (NFT) assets have been very popular for well over 12 months and a great number of collections have skyrocketed in value. While interest in NFTs has slid to a four-month low according to Google Trends search queries, a vast quantity of NFTs are still selling for hundreds of thousands or even millions of dollars in crypto. The following is a look at the top five NFT floor prices in terms of the most expensive digital collectibles in March 2022. The Top 5 NFT Floor Values Are $30K or More Bitcoin.com News has been reporting on NFT weekly sales volume dropping week after week during the last month. This week is no different as the metric for the last seven days of NFT sales is down 23.80% from the week prior. Additionally, as mentioned above, Google Trends (GT) search queries indicate that worldwide searches for the term “NFT” have slid a great deal. Despite the drop in activity, many NFTs are being sold for top dollar to this very day and many NFTs have remained valuable. This weekend, Bitcoin.com News took a look at the top five collections by highest floor price. The floor price is the lowest price of any particular NFT in a specific collection, which means the rest of the collection’s NFTs sell for above that value point. NFTs are also measured in average item price, which divides the average sale price across the number of sales. Today’s Top 5 Most Expensive NFT Floor Values On March 12, 2022, the top NFT collection with the most expensive floor price is the Bored Ape Yacht Club (BAYC) NFTs. At the time of writing, the Yugo Labs created BAYCs have a floor price of 80 ether or $207K. Currently, 6,374 unique addresses own at least one BAYC out of the supply cap of 10,000 BAYC NFTs today. The second-highest floor price today stems from the Cryptopunks collection with a floor price of 75.95 ETH. That means the least expensive Cryptopunk NFT today is valued at $196K. Out of the 10,000 Cryptopunks in existence, 3,423 unique addresses own at least one Cryptopunk. The third most expensive NFT floor price is much lower than the BAYC and Cryptopunks floors, as the Mutant Ape Yacht Club (MAYC) NFT floor is only 18.48 ETH or $47,882, using current ether exchange rates. The Yugo Labs NFT collection MAYC has 11,861 owners and there are 17,997 MAYC NFTs available today. The fourth highest-priced floor value today comes from the Veefriends collection as the floor price for the NFT compilation is 14.2 ether or $36,792. There are 10,255 Veefriend NFTs available and currently there are 5,247 owners, according to stats. Lastly, the fifth most expensive floor today comes from the Clonex NFT collection. Currently, the floor price for a Clonex NFT is 11.2 ether or just over $29K. 8,543 unique addresses own at least one Clonex NFT out of the 19,065 NFTs available. Other notable NFT collections in March 2022 include Doodles, NFT Worlds, Azuki, World of Women (WoW), and Cool Cats. At the time of writing, Doodles have a 10.2 ether floor, NFT Worlds, 9.98 ether, Azuki’s floor is 8.88 ETH, WoW’s floor is 7.9 ETH, and Cool Cats’ floor is currently 7.8 ether. This means out of the top ten most expensive floor prices, a user must pay $20K or more for an NFT from one of the aforementioned NFT collections. What do you think about the top five highest NFT floor prices today? Let us know what you think about this subject in the comments section below. View the full article

Although cryptocurrency markets started the weekend lower, XRP was able to avoid the red wave, rising by as much as 7% in the process. LUNA on the other hand was lower, with ANC also down close to 10%. Ripple (XRP) XRP rose to its highest level in almost one month on Saturday, as the world’s sixth-largest cryptocurrency was today’s big gainer. XRP/USD rallied to an intraday high of $0.846 to start the weekend, which is marginally below its long-term resistance level of $0.850. As of writing, XRP is trading 6.4% higher, with earlier gains easing, likely a result of traders closing their positions as we approached the resistance point. Looking at the chart, today’s surge has seen the 14-day RSI climb to a ceiling of 54, its highest level since February 19, which is likely another reason why bulls liquidated earlier positions. Now we will have to wait to see if this level could be broken, if so, then the $0.90 level will likely be the next price target. Anchor Protocol (ANC) It has been a rough week for ANC, with the cryptocurrency falling by almost 50% in the last seven days. This decline continued on Saturday, as ANC/USD hit an intraday low of $3.28, following highs above $4.00 less than 48 hours ago. As of writing, ANC is down 9.95% today, as prices look to be trying to find a point of support, to ease the bleeding. Looking at the chart, this floor could be the $3.15 level, which was last hit on February 24, when ANC was making its way to a now all-time high of $6.20. In addition to this, the 14-day RSI is tracking at 47.94, which is the lowest price strength has resided at since Valentine’s Day. Could we see bulls enter this weekend as prices remain oversold? Let us know your thoughts in the comments. View the full article

The number of bitcoin held on exchanges has continued to drop in recent times as the metric suggests crypto advocates are pulling funds off of trading platforms for long-term holding. At the time of writing, 2.32 million bitcoin worth over $90 billion is held on centralized cryptocurrency exchanges. Since This Time Last Year, Large Sums of Bitcoin Continue to Be Withdrawn from Centralized Exchanges Bitcoin is being pulled off exchanges in greater numbers these days, as the metric shows the amount — 2.32 million bitcoin (BTC) held today — hasn’t been this low in over three years. In fact, three years ago in March, the number of BTC stored on various trading platforms was larger, with roughly 2.73 million bitcoin held. Moreover, the day after the infamous ‘Black Thursday’ on March 11, 2020, exchanges held just over three million BTC, according to cryptoquant.com’s metrics. During the last few weeks, crypto asset prices have been lower and exchange balance metrics really started to slide in August 2021. Today, Coinbase is the largest balance holder in terms of bitcoin with 853,530 BTC according to Bituniverse stats. Bituniverse leverages data from peckshield.com, chain.info, and etherscan.io. The Transparent Balance Rank tool also measures ethereum (ETH) and tether (USDT) balances. Below Coinbase’s balance, Binance holds $18.94 billion in crypto assets. Binance has more than 340,000 BTC according to current metrics and 3.59 million ETH as well. Moreover, Binance holds 1.24 billion of the stablecoin crypto-asset tether. Below the $44.5 billion held by Coinbase and the stashes held by Binance, is Huobi Global’s coffers with $16.12 billion in crypto reserves. Huobi wallets indicate the exchange holds more than 160,000 BTC and 2.13 million ethereum. Crypto funds leaving exchanges is often seen in the crypto space as a good sign for two reasons. For one, the trend suggests that owners are not willing to sell their bitcoin at this time. This means there are fewer funds on the market for whales to dump and it also makes liquidity dry up. Furthermore, in the world of cryptocurrency assets, the golden rule is to hold your own keys and the trend could also suggest users are taking that advice more seriously. What do you think about the balances of bitcoin on exchanges today and how they are currently at the lowest point in three years? Let us know what you think about this subject in the comments section below. View the full article

Ethereum was once again trading close to its support of $2,550 on Saturday, as crypto markets continue to consolidate. Following strong gains on Tuesday, BTC and ETH have both mainly traded sideways, as price uncertainty grips markets. Bitcoin Bitcoin is down just over 1% as of writing, as the world’s largest cryptocurrency continued to trade below $40,000 to start the weekend. On Saturday, BTC/USD has so far fallen to an intraday low of $38,432.93, following an earlier high of $39,510.69. Today’s high is roughly $1,000 lower than yesterday’s peak, where we saw bitcoin hit a high of over $40,300 in the session. As of writing, the 14-day RSI is still tracking at 47, which is marginally below recent resistance of 48.12. Bulls appear to be waiting for a breakout of this level before truly re-entering, in a similar fashion to March 8, when news of U.S. President Joe Biden’s executive order was announced. We will likely continue to see consolidation until a significant amount of price strength enters the market, bullish or bearish. Ethereum Ethereum is trading close to its support of $2,550 to start the weekend, a position where it has remained during the last few sessions. Following a high of $2,631.49 on Friday, ETH/USD hit an intraday low of $2,536.97 during today’s session, as bears continue to press ahead. Bulls did push back on this however, with ETH now trading at $2,586.08 as of writing, which is 1.41% lower than yesterday’s high. Price momentum maintains a downward trend, as can be seen from both the 10-day and 25-day moving averages. However, the proximity of these means that we could see a rebound, or reversal at any time, which is a prospect that will likely keep bulls on their toes. Could we see some reversal this weekend? Leave your thoughts in the comments below. View the full article

PRESS RELEASE. Crypto4Winners (C4W) strives to actively manage customers’ BTC, ETH, and USDT to offer them a source of consistent passive income by increasing the number of their respective crypto assets. To that end, C4W has several pools such as BTC Pool, ETH Pool, and Global Crypto Pool. Ultimately, the team wants to offer a unique trading platform that can help provide security and reliable investment strategies to crypto-friendly individuals. There is also currently no competition regarding such a platform, thereby increasing the utility and value offered by C4W’s services and features. Simply ‘hodling’ won’t cut it anymore Buying and holding a crypto asset for an extended period does not guarantee a profit. The investor would likely lose money in the long run, mainly because cryptocurrencies are often volatile and unpredictable. As a result, only hodling cryptocurrency cannot be considered a viable way to generate passive income. As such, the C4W team claims that despite the unpredictable nature of the cryptocurrency industry, long-term appreciation is still worth believing in, given this sector’s sheer growth and trading volume on a global scale. The Crypto4Winners platform is hence meant for those crypto investors and traders. They may not have the time to manage their digital assets successfully and want to accumulate additional crypto assets in a transparent, safe and trustworthy manner. To that end, the investment pools can help C4W’s users to generate high returns through the utilisation of BTC, ETH or USDT. The investment pools The BTC Pool was the first pool to be formed in July 2019, with a minimum investment of 0.03 BTC required to join. The strategies involved include storing 50% of BTC in a cold wallet and splitting and managing 50% of BTC daily by an experienced team of traders. The ETH Pool, which shares the same characteristics as the BTC Pool, was introduced in April 2021. The minimum investment to join this pool is 1.0 ETH. This pool’s strategies are the same as that of the BTC Pool. Finally, the Global Crypto Pool’s purpose is to build a diversified portfolio of crypto-assets invested in multiple ways. The Global Crypto Pool was created in January 2022, with a minimum investment of 10.000 USDT required to join. Holding, trading, staking, lending, and yield farming are all viable strategies involved with this pool. Future goals Regarding future goals, the team shall focus on hiring more talented individuals such as crypto analysts, starting and distributing an external communication campaign to raise company recognition (and spread reassuring messages), and creating and disseminating information about the Ledger collaboration. C4W will also do its best to retain its current customers while attracting new ones, with the goal being to have 5,000 clients by the end of 2022. About Crypto4Winners The C4W team comprises highly skilled individuals with an extensive understanding of emerging technologies, the Internet, blockchain, and asset management. It also consists of IT developers, business developers, and seasoned traders. BTC, ETH, and USDT are handled by a team of 5 professional crypto and FX traders that oversee daily risk and money management of trading tactics (including day trading, scalping, and algorithmic trading), investing (including fundamental examination of various cryptocurrency projects), and yield tactics (including staking, yield farming, and so on along with continuous monitoring concerning yield/risk-return). Furthermore, there are no fees involved other than those associated with performance. Additionally, C4W has established vital partnerships with Chainalysis and Ledger. There is also the ‘Referral’ program, which has a single level. The referrer receives 10% of the recommended user’s net profits for each referred user. The cryptocurrency is credited to the appropriate user’s dashboard under the section “Referral.” The 10% commission given to the referrer will be deducted from 20% of the performance fee C4W is paid based on the net daily performance of BTC and ETH pools. Also, 50% of the performance fee C4W gets compensated based on the Global Crypto Pool’s net monthly performance. For more information, check out the official website. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Remittance giant Western Union has joined other financial services companies supporting sanctions in response to Russia’s invasion of Ukraine. The decision will affect customers in the Russian Federation as well as those in Belarus, an ally of Moscow, backing its military operation. Western Union Condemns Invasion of Ukraine, Halts Services in Russia and Belarus Money transfer specialist Western Union has condemned Russia’s military assault on neighboring Ukraine, expressing “shock, disbelief, and sadness around this tragedy and humanitarian disaster.” The company has been working to support its Ukrainian clients, including through donations, humanitarian relief efforts, and by waiving fees. The cross-border payments provider announced its decision to suspend operations in the Russian Federation and Belarus, taken after discussing the matter with various stakeholders. The company added it had also evaluated the consequences for its partners, and customers. In a statement released Thursday, it also emphasized: We join the international community in expressing sincere hope for a diplomatic and peaceful resolution. Meanwhile, our priorities remain the well-being and safety of our employees as well as continuing to support the people of Ukraine, including the growing number of refugees seeking safety. Western Union, also a global leader in cross-currency money movement with a presence in over 200 countries and territories, is the latest in a group of payment and remittance providers that have suspended services in Russia as part of sanctions over the war in Ukraine. These include Paypal, Wise, Remitly, Transfergo, Zepz, and Revolut. Visa and Mastercard, the world’s leading payment processors, also backed western sanctions against Moscow, suspending operations in the Russian Federation, although Russian residents will be able to use their locally issued cards inside the country. American Express introduced identical measures. Ukraine has been calling for and welcoming such moves. The authorities in Kyiv also urged cryptocurrency exchanges to freeze Russian accounts but major trading platforms like Binance and Kraken have denied the request to unilaterally impose restrictions on all Russian users. At the same time, the Ukrainian government and volunteer organizations have been increasingly relying on donated cryptocurrency to fund defense efforts and solve humanitarian problems. Ukraine has received significant support from representatives of the crypto industry and community. You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund. Do you expect other financial services companies to join the sanctions against Russia? Tell us in the comments section below. View the full article

Terraform Labs, the company behind the creation of Terra, has announced a new donation to support the ecosystem of the terra (LUNA) token. Do Kwon, CEO of Terraform Labs, announced that the company has donated 12 million LUNA (approximately $1.2 billion) to the Luna Foundation Guard (LFG) with the goal of continuing to grow its decentralized forex reserve to intervene during stressful market conditions if necessary. Terraform Labs Fills LFG Vaults Terraform Labs, creator of the terra token, is putting funds toward supporting the growth of its flagship stablecoin, UST. The company announced a new donation of 12 million LUNA to the Luna Foundation Guard, another decentralized organization, that will be directed to grow the stabilization fund to maintain the UST dollar peg. Do Kwon, CEO of Terraform Labs, explained on Twitter that these funds will be used to be burn and mint $UST, which then will be used to grow the reserves of the Luna Foundation Guard. The Luna Foundation Guard has been acting directly to bring more UST to secondary markets, which have become unbalanced due to the high demand the stablecoin is experiencing now. In fact, just this month, the foundation has already acted twice to replenish the supply of UST in the pools of Curve, a decentralized exchange with low slippage for stablecoin trades. The UST Depeg Dilemma The purpose of all of these actions is to increase user trust when it comes to the stability of UST and its peg to the U.S. dollar. While other stablecoins manage to maintain this peg using various systems, UST relies on the relation it has with its sister token of the Terra ecosystem, LUNA, and the arbitrage opportunities that the treasury offers to traders. However, some analysts have stated that these mechanisms embedded into the protocol can fail, producing an imbalance that could cause UST to lose its intended peg. Kwon was emphatic about the objective of the donation made, stating: If there is any confusion left at this point, we will keep growing reserves until it becomes mathematically impossible for idiots to claim depeg risk for UST. Kwon has also been adamant about the importance of these reserves being stored in the form of BTC, an asset that is external to Terra, but that according to him, “thrives in chaos.” What do you think about the 12 million LUNA donation from Terraform Labs to the Luna Foundation Guard? Tell us in the comments section below. View the full article