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The Binance exchange has imposed restrictions for users from Russia, the NBU has placed a limit on semi-cash transactions affecting cryptocurrency purchases, Justin Sun announced the launch of
The Binance exchange has imposed restrictions for users from Russia, the NBU has placed a limit on semi-cash transactions affecting cryptocurrency purchases, Justin Sun announced the launch of the algorithmic stablecoin USDD and other events of the week ahead.
On Monday, April 18, prices of the first cryptocurrency updated a local minimum below $38,500 since mid-March, but by evening the price had returned to $41,000 and hit almost $43,000 on Thursday, April 21.
At the time of writing, Bitcoin is trading around $39,640.
Analysts at Arcane Research noted that the correlation between bitcoin and tech stocks has reached its maximum since July 2020, predicting a decline in the profitability of the first cryptocurrency mining. Glassnode allowed Bitcoin to bottom out, noting that it was redistributed among investors in the $35,000-42,000 range.
Traditionally, the flagship has taken the rest of the market with it. Almost all digital assets in the top 10 by market cap closed the week in the red zone. The exception is Terra (LUNA), whose prices have increased by more than 10% in the last seven days.
According to CoinCodex, the Everscale blockchain token (EVER) was the highest price rise among mid-cap digital assets during the week. Amid the growing popularity of decentralized exchange FatQube, its price rose 47%.
The coin of the decentralized data platform Pocket Network (POKT) has dropped in price more than any other. Its price dropped 22%.
The total capitalization of the cryptocurrency market has reached $1.9 trillion. The Bitcoin dominance index rose to 38.9%.
Cryptocurrency exchange Binance has announced restrictions for the accounts of residents of the Russian Federation, where the total value of their crypto assets exceeds 10,000 euros.
They can only withdraw money. The company does not yet plan to cease providing services in Russia. However, Binance noted that they are monitoring the political situation and will apply if international sanctions against the country are extended. The announced measures follow the adoption of the fifth package of EU restrictive measures against Russia.
Reuters reported that the regional representation of the Binance cryptocurrency exchange has links with Rosfinmonitoring and the FSB of the Russian Federation. The deal allegedly includes assistance in doing business in the region in exchange for transferring customer data (names and addresses) to law enforcement under the pretext of combating terrorist threats and illegal activity.
The events unfolded against the background of opposition leader Alexei Navalny’s Rosfinmonitoring campaign to identify cryptocurrency holdings.
The exchange rejected the Reuters article and correspondence with Reuters journalists and denied allegations of collaboration with the FSB and Rosfinmonitoring.
The company said that Russian officials never contacted the platform about Navalny. Binance also searched for false claims that it shared any user data with Russian regulators and FSB-controlled entities.
The US Treasury has imposed sanctions against the BitRiver group of companies that mine cryptocurrencies in the Russian Federation. According to the agency, the operator of mining data centers, established in 2017, currently has three offices in the Russian Federation. In addition to it, ten subsidiaries are included in the sanctions list.
In order to prevent the outflow of capital from the country under martial law, the National Bank of Ukraine has imposed additional restrictions on the cross-border transactions of citizens, which, among other things, affects their cryptocurrency transactions.
According to the decree, individuals are temporarily prohibited from making semi-cash transactions in hryvnia bank accounts and foreign currency more than 100,000 hryvnia per month. Such transactions include the purchase of cryptocurrencies, replenishment of brokerage or forex accounts, replenishment of electronic wallets, purchase of gift certificates, transfers in favor of bookies, payment of traveler’s checks and others.
The capitalization of the algorithmic stablecoin Terra USD (UST) has approached $18 billion, allowing the asset to bypass Binance USD (BUSD) and take third place in the stablecoin rating. Following the success of UST, the LUNA ecosystem token rose 17.5% on April 19.
Tron founder Justin Sun announced plans to launch his own algorithmic stablecoin USDD on May 5. Stablecoin will be managed by Tron DAO. According to Sun, the organization will generate a 30% annual return on the asset.
Contrary to the clear trend, Tether (USDT) CTO Paolo Ardoino criticized algorithmic stablecoins, noting that such assets are dangerous for the cryptocurrency market because of their collateralization approach:
“If you have an UST-scale algorithmic stablecoin liquidation, the market can handle it. But imagine you have a stablecoin like Tether with $80 billion or $100 billion in capital, backed mostly by digital assets. It’s hard to imagine what will happen and be sure of enough liquidity to stop the cascading effect.”said.
The MetaMask team has warned users of a non-custodial wallet about the risks of storing data in Apple iCloud due to possible phishing attacks and recommended that they disable backup for MetaMask in their device settings.
At the same time, blockchain-powered cryptocurrency wallet operator Phantom Solana launched a mobile version of the app for Android devices.
The Cybersecurity and Infrastructure Protection Agency, the FBI, and the U.S. Treasury have issued a joint warning about North Korean hacking threats aimed at stealing cryptocurrencies. Lazarus Group lists APT38, BlueNoroff, and Stardust Chollima.
This week, Binance chairman Changpeng Zhao announced that the exchange had successfully seized assets from North Korean hackers in 82 wallets worth 5.8 million. 625 million dollars.
Ethereum-based stablecoin protocol Beanstalk Farms has lost more than $181 million in cryptocurrencies as a result of a hack. The hacker received approximately $76 million. The attack was carried out using a $1 billion loan and the hacker cast a fictitious vote to withdraw money.
There was an interesting case of theft this week. After a successful attack on the BNB Chain-based Zeed DeFi protocol, an unknown person destroyed a smart contract with assets worth $1 million.
On Saturday, due to a fault of the AkuDreams team, the Dutch auction of the NFT project ended with the loss of user funds. More than 11,539 ETH (~$33.93 million) is permanently locked in the smart contract.
Nike and RTFKT Studio presented the first collection of immutable tokens on the Ethereum blockchain. The digital sneaker is inspired by the Nike Dunk silhouette.
Yuga Labs will launch the Otherside metaverse on April 30. Sale of free collection tokens for the last 24 hours BAIC and MAY increased by 18% and 108%, respectively.
US authorities will use the seized 69,370 BTC (~$2.75 billion) to pay off the $183 million debt owed to the government by Ross Ulbricht, the founder of the Silk Road darknet market.
In April 2013, a hacker stole 69,370 BTC while breaking into an illegal platform. In November 2020, US law enforcement confiscated Bitcoins. Ulbricht refused to claim them.
The date of the auction for the sale of the seized crypto assets was not specified.
Uniswap Labs, the company behind the development of leading Ethereum exchange Uniswap, has begun blocking addresses associated with illegal activity at the front-end level.
Blockchain data monitoring is implemented in conjunction with the TRM Labs platform. Second, it flags crypto wallets that can be associated with hacker attacks, fraud, terrorist financing, ransomware, human trafficking, as well as verified addresses.
The Banks Association of Russia has developed a concept to collect cryptocurrencies stored in non-custodial wallets. It involves the introduction of criminal liability for its owners.
The concept provides for the establishment of criminal liability for the fact of finding assets in such wallets if the cryptocurrency has not been declared.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
