Global financial markets and crypto markets were pummeled over the past 24-hours as the invasion of Ukraine by Russian forces sent investors scrambling and sell-offs took place across most asset classes. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) hit a low of $34,333 in the early trading hours on Feb. 24, shortly after…
In brief Coinbase blew away expected revenue figures The company posted record user numbers, reversing an earlier decline Coinbase also showed signs it is diversifying its revenue base Coinbase defied analyst predictions on Thursday by announcing it made nearly $2.5 billion in revenue last quarter, while its monthly active user base swelled to 11.4 million. The revenue figure was the…
CryptoPunks enthusiasts and hopeful bidders gathered Wednesday night at Sotheby’s auction house in New York City for what tuned out to be a non-event after the consignor of 104 CryptoPunks decided to hodl. In the wake of this announcement, however, a live panel discussion on the history of nonfungible tokens (NFTs) and CryptoPunks took place. The panel consisted of Sherone…
The U.S. will block five of the biggest Russian banks and freeze all assets they hold in America, worth over $1 trillion, President Joe Biden said in a press conference Thursday. U.K. prime minister Boris Johnson imposed similar sanctions earlier Thursday, freezing the assets of all major Russian banks and cutting them off from the U.K.’s financial markets, reported the…
Bitcoin’s unique selling point for years has been that it is a safe-haven asset: Likened to gold—even referred to by some as “digital gold”—Bitcoin proponents have argued that the biggest cryptocurrency by market cap is what to invest in during market downswings. But that narrative appears to be changing. Bitcoin, which right now has a market cap of $681 billion,…
The central bank of Ukraine has capped withdrawals of cash in national fiat and banned those in foreign currency. The monetary authority says the measures aim to ensure the functioning of the nation’s financial system under the martial law introduced in response to Russia’s military offensive. National Bank of Ukraine Restricts Hryvnia Withdrawals, Fixes Exchange Rates As citizens were lining…
Against the backdrop of an ongoing Russian invasion, the price of Tether’s USDT stablecoin soared to as high as 36.97 Ukrainian hryvnia (UAH) on Ukraine’s Kuna exchange on Thursday. The total trading volume of all cryptos on the exchange amounted to about $4.4 million in the past 24 hours. During the same period, mid-market rates from foreign exchange data provider XE indicated that the…
Athletes have been known to invest in a range of assets and businesses, but now they’re also getting into cryptocurrency and blockchain. Nonfungible tokens (NFTs) are a relatively new form of tokens that allows for the exchange, trade and ownership of unique digital assets. According to market data, worldwide NFT trading was worth around $40 billion in 2021, and now…
In brief Russian President Vladimir Putin declared war on Ukraine early Thursday morning. Bitcoin donations are pouring in to assist with Ukraine’s defense. In 2021, about $570,000 in Bitcoin donations went to pro-military Ukrainian groups. Today alone, almost $400,000 in BTC has been sent to just one of those organizations, “Come Back Alive,” according to analysis from U.K.-based blockchain analytics…
Anton Bukov, the co-founder of 1inch Network, thinks that Ethereum will likely become the main settlement layer for a multi-chain decentralized finance (DeFi) ecosystem. “There is like a high chance that most of the chains will try to commit their states to Ethereum as a higher layer,” Bukov said in an exclusive interview with Cointelegraph. Bukov, who is number 39…
