Crypto Financial News

crypto bandwagon amid the rising volatility in the global cryptoverse. According to a Knight Frank report, about 18 per cent of Indian ultra high-net worth-individuals (UHNIs) now own cryptocurrencies or tokens, and 11 per cent have invested in NFTs (non-fungible tokens). Earlier this week, IT major Tech Mahindra announced the launch of TechMVerse, its Metaverse practice to deliver interactive and immersive experiences in the Metaverse for its customers.

crypto assets in 2022, the digital token market is getting its mojo back, with increased interest from investors. Major crypto assets have seen a sharp rebound in the last one week. Barring the US dollar pegged stablecoins, all other top 10 digital tokens have rallied more than 20 per cent in the last seven days, with Terra zooming up to 75 per cent. Bitcoin and Ethereum have marched 25 per cent each. Amid the global volatility, the demand for the virtual asset class has increased with daily traded volume hovering around the $100 billion mark, the coinmarketcap data suggests.

Bitcoin took a breather as investors booked profits, after the US Fed's chair Powell testified before the US Congress. Altcoins followed suit. Federal Reserve Chair Jerome Powell reaffirmed the US central bank's plan to raise interest rates this month for the first time since 2018. On the other hand, the saga in Eastern Europe continued. All of the top digital tokens were trading lower on Thursday. Avalanche tumbled as much as 6 per cent, whereas Cardano and Shiba Inu dropped 3 per cent each. Bitcoin and Ethereum also shed a per cent each.

Western sanctions, which aim to squeeze Russia's economy and sever it from the global financial system, have forced companies and financial firms in their droves to halt business in the country. But many of the world's largest crypto exchanges — including Binance and U.S.-based Kraken and Coinbase — have stopped short of a blanket ban on Russian clients, despite a plea from the Ukrainian government for one. They said they would screen users and block anyone targeted by sanctions.

Crypto industry is betting big on the GameFi industry with billions of dollars invested, but in the Asian market, the segment is likely to face a stiff and severe challenge, thanks to strict and rigid regulations in multiple countries. The existing laws and regulations are quite hostile for GameFi. Countries like South Korea and China have had laws about converting in-game tokens into fiat currency for nearly 15 years. In South Korea, gaming is a serious industry and has its own regulatory code — strictly prohibiting speculative acts, gambling and free gifts. Its laws prohibit converting game tokens into cash.

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CryptoWire and Bitbns exchange have entered into an agreement for listing IC15, India's first global crypto index. The index was launched by CryptoWire on January 3, 2022. CryptoWire claims to be a global crypto super app, whereas Bitbns is a homegrown crypto exchange. However, trading of IC15 on Bitbns exchange will begin from April 1, 2022, the new financial year. With the commencement of trading on IC15, market participants, individuals and institutions, get the advantage of spreading their risks by taking a view on the entire market versus concentrated risk on a single currency, according to a release.

crypto assets last year amid rising popularity of cryptocurrencies and NFTs, according to a Knight Frank report. UHNWIs are those who have net worth of USD 30 million (about Rs 226 crore) or more. In its Wealth Report released on Tuesday, Knight Frank said 18 per cent global UHNWIs now own cryptocurrencies or tokens, and 11 per cent have invested in NFTs (non-fungible tokens). «In case of India, 18 per cent of ultra-wealthy have invested in cryptoassets. 10 per cent of them being invested in cryptocurrencies/tokens and 8 per cent being invested in NFTs,» Knight Frank India said in a statement.

crypto market, Terra (LUNA) has emerged as a front runner in terms of performance, delivering solid returns to the investors. The digital token has outperformed the crypto markets and other major peers in the last various parameters including one month, one week and 24-hour timeline. Terra has more than doubled in the last one month, rallying as much as 115 per cent. The token has surged about 85 per cent in the last one week. The scrip has surged as much as 30 per cent in the 24-hour timeframe.

Ukraine, fundraising via crypto assets has emerged as a key route to show support for those who are in dire need of help. After posting appeals on social media for donations of bitcoin and other digital tokens, Ukraine's government has raised almost $8 million in cryptocurrencies. Ukraine's official Twitter account made the appeal for cryptocurrency donations on Saturday following the country's invasion by Russia, posting digital wallets addresses for tokens including bitcoin and ether.

crypto donations, adding to crowdfunding efforts that have raised more than $5 million in Bitcoin, Ether and other tokens since Friday. Ukraine’s official Twitter handle, as well an account belonging to the country’s Vice Prime Minister Mykhailo Fedorov, shared details of the crypto wallets on Saturday. Victor Zhora, one of Ukraine’s top cyberdefense officials, confirmed to Bloomberg that the tweets and the wallet addresses were accurate. The addresses posted by these accounts have received hundreds of donations worth more than $3 million in less than 24 hours, according to transaction information available for the wallets and data from blockchain analytics firm Elliptic. The median donation was worth around $95, Elliptic co-founder Tom Robinson previously told Bloomberg News by email.

cryptocurrencies went down by a large margin. It is important to note that the markets overall in most financial sectors have gone down, but cryptocurrencies being more volatile than most, went down farther than traditional stocks.Crypto PlungeBitcoin dropped as much as 8 per cent in price on Thursday morning, and traditional markets were also not spared the disarray.

Stablecoins, which are virtual tokens pegged to traditional currencies such as the U.S. dollar, held gains on Thursday in the midst of a sell-off in risk assets such as stocks and bitcoin after Russia launched a full-scale invasion of Ukraine. Most stablecoins were slightly higher on the day. Their market capitalization was up 0.3% at $182.5 billion, according to cryptocurrency data tracker coinmarketcap.com. Its daily trading volume, though, surged 75% to $108.1 billion. In contrast, both bitcoin and ether dropped to one-month lows. Bitcoin was last down 3.1% at $36,121, while ether slid 4.1% to $2,475, following Russia's invasion.

Since then, the global market for cryptocurrencies and other digital assets has ballooned. That is bad news for enforcers of sanctions and good news for Russia. On Tuesday, the Biden administration enacted fresh sanctions on Russia over the conflict in Ukraine, aiming to thwart its access to foreign capital. But Russian entities are preparing to blunt some of the worst effects by making deals with anyone around the world willing to work with them, experts said. And, they say, those entities can then use digital currencies to bypass the control points that governments rely on — mainly transfers of money by banks — to block deal execution.

Coinbase Global Inc on Thursday reported a surge in quarterly trading volumes on a sequential basis as volatility in prices drew in retail traders, but warned that growth would slow in the current quarter. Trading volumes jumped more than 67% to $547 billion in the quarter ended Dec. 31, with retail trading accounting for 32% of volumes and crypto assets contributing 68% to total trading. «The sequential increase in retail Trading Volume was driven primarily by higher levels of volatility as well as strong consumer interest in a wider variety of crypto assets,» the company said in a statement.

ASCI) released guidelines for crypto or virtual digital assets (VDAs) related advertisements on Wednesday, applicable from April 1. Earlier advertisements and promotions must not appear in the public domain unless they comply with the new guidelines after April 15, 2022. Pratik Gauri, Founder and CEO of 5ire, said that India does not have room for laissez-faire market notions. The government is aiming to protect hard-earned money with the updated ASCI regulations.

crypto assets, particularly Elon Musk's favorite Dogecoin. The top memecoin has tumbled sharply, about 10 per cent in the last 24 hours, slipping down to 12th position in the terms of market capitalization from 10th earlier. Not only memecoins, other major tokens and altcoins have fallen sharply in the last 24 hours, thanks to the rising geopolitical worries and inflationary concerns.

Cryptocurrencies traded in the red early on February 22. The global crypto market capitalisation is $1.68 trillion, a 5.57 percent decrease over the last day. The total crypto market volume over the last 24 hours is $100.86 billion, a 43.65 percent increase.

Mumbai: Cryptocurrencies crashed as the threat of Russia invading Ukraine escalated amid border skirmishes, resulting in the crypto investor community offloading their risky digital assets to protect portfolios against further price drops. On Friday, US President Joe Biden said that Russian President Vladimir Putin had decided to invade Ukraine, and that a military strike could happen in days. On Saturday and Sunday, there were reports of shelling and multiple explosions in Donetsk, eastern Ukraine, further driving fear into the crypto markets.

FBI is launching a unit for blockchain analysis and virtual asset seizure. The creation of the FBI's «virtual asset exploitation» unit comes after the Justice Department's largest-ever financial seizure earlier this month. It charged a married New York couple with allegedly laundering bitcoins now valued at over $4.5 billion that were stolen in the 2016 hack of the digital currency exchange Bitfinex. U.S. regulators under President Joe Biden have been ratcheting up their scrutiny of the crypto industry in the wake of a series of high-profile cyberattacks last year on the largest U.S. fuel pipeline network and the world's largest beef supplier. Ransomware groups often demand their fees in bitcoin.

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