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Barring Solana and Terra, all other top digital tokens were trading in lower. Avalanche tanked about 5 per cent, whereas Bitcoin dropped 2 per cent to below $40,000. Among gainers, Solana zoomed about 5 per cent. The global crypto market cap dropped about 2 per cent to $1.78 trillion mark. On the contrary, the total crypto market volume jumped more than 31 per cent to $70.68 billion.

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.

investments, crypto platforms are introducing new products. They are looking to earn interest on their crypto deposits or draw loans against cryptocurrencies, without attracting the new tax. The Budget proposed a 30% tax on returns from digital currencies and a 1% Tax Deducted at Source (TDS) on digital assets. The government has not used the term «cryptocurrency» in the budget, but rather «virtual digital assets». This means there will not be any tax on crypto-based products, investors said. «The way the regulations are today, investors who invest in crypto-based products should not be covered either under the 1% TDS, or 30% tax on income. However, we have sought clarity on this from the government and will be approaching them in this regard,» said Darshan Bathija, cofounder of Vauld, a Singapore-based cryptocurrency exchange. Crypto platform executives say if there is no tax incidence on crypto-based products, it could lead to greater demand from investors. «It (tax) will increase our operations as people will prefer to take out a loan on their crypto holding, instead of selling it to avoid the tax implications,» said Kumar Gaurav, founder and CEO of Cashaa.

By Analytics Team, Giottus Crypto ExchangeBitcoin (BTC) dropped 6% last week as the standoff between Russia and Ukraine continues to spook investors globally. BTC briefly traded above $44,500 mid-week before escalating geo-political tensions affected financial markets. BTC is now trading just below the psychological level of $40,000 with the overall crypto market cap at $1.81 trillion. Ethereum (ETH) continues to be affected by BTC’s price movements and has shed nearly 7% this week to trade around $2,700 level. All the top 20 cryptocurrencies are in the red on a weekly timeframe except Avalanche (AVAX) with a 3% increase.

The Bank of Russia has proposed banning cryptocurrency trading and mining due to the threat digital currencies pose to financial stability. The finance ministry disagrees and President Vladimir Putin has called on authorities to find a consensus. Finance Minister Anton Siluanov told state TV channel Rossiya-24 on Friday that he hoped disagreements could be ironed out and a bill regulating cryptocurrencies passed by the end of the year. He said the government would take the final decision.

Non-Fungible Tokens (NFTs). India recorded the second-highest number of cryptocurrencies users worldwide during the year, and India-based crypto exchange platforms attracted millions of users, with CoinSwitch alone amassing over 15+ million of them. The crypto market fluctuated as well. While expected, given the market’s volatile nature, the fluctuations were often triggered — to a large extent — by the actions of celebrities, tech titans, industry leaders, and artists, and that was new. These influencers impact the crypto market with their support for digital currencies and often use social media to promote them. And following them can be useful for investors as well.

metaverse theme, with investors taking up huge bets in this space. According to a report by Credit Suisse, the transition of the digital ecosystem to metaverse will push data usage by 20 times across the globe by 2032 and telecom operators Bharti Airtel and Jio are suitably placed to benefit from the surge. It added that metaverse has enormous potential to further expand screen time and drive more bandwidth consumption. Both the telecom players Jio and Airtel are extensively engaged in 5G trials, with the technology expected to be rolled out in the next fiscal.

crypto traders turned defensive as tensions between Russia and Ukraine intensified. Following this, the appetite for riskier assets, including the digital token, dropped sharply. Investors now looked for safe heaven bets like gold, dampening the sentiments further. Barring the dollar-pegged Tether, all other top digital tokens were trading in deep red on Friday. Avalanche and Terra dropped 9 per cent each followed by Bitcoin and Ethereum, each losing over 7 per cent.

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.

Mumbai: In a first for an Indian entity, several domestic as well as foreign crypto exchanges are in talks with CryptoWire, a Financial Technologies Group entity, to launch products based on its IC15 index. IC15, which tracks the top cryptocurrencies around the world in terms of their market capitalisation, is the first crypto index to come out of India. Several Indian and international exchanges have approached CryptoWire for licensing its IC15 index to launch products on their exchanges based on this benchmark, CryptoWire MD & CEO Joseph Massey said. IC15 index was launched on January 3 this year. It is a rule-based broad market index by market capitalisation that tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world, a company release had noted during its launch. Apart from introducing simple index-based products like exchange-traded funds, many other investment products are expected to be developed based on the IC15 index, officials said. Presented ByDid you Know?A statue honour

metaverse" investing has been running on its own timeline. Metaverse-related assets such as currencies which can be used in virtual worlds, and NFTs representing virtual land, took only a small hit as risk appetite dropped in January, while the broader market for digital goods has seen volumes surge. Facebook changing its name to Meta Platforms Inc proved a bigger driver of investment in the metaverse than broader financial market conditions.

gold stablecoins, are the latest fad among crypto investors given their recent outperformance. Popular crypto tokens in this class are PAX Gold (PAXG) and Tether Gold (XAUT) and are part of the top 300 cryptocurrencies by market capitalization (m-cap). The m-cap of both these tokens has jumped exponentially over the last one year, with the former outperforming the latter. According to some experts, recent tension between Russia and Ukraine, which has increased the bullion's appeal, has also boosted the demand for such tokens.

digital-asset exchanges. Binance-owned WazirX, India’s largest crypto bourse, has seen daily sign-ups on its platform jump almost 30% since Feb. 1, when the government unveiled the levy on the transfer of digital assets in its annual budget, said co-founder Nischal Shetty. At rival CoinSwitch, the daily increase was 35%, according to founder Ashish Singhal. While it might seem counterintuitive that a steep tax would cause people to flock to digital tokens, the step was seen as legitimizing an industry that’s been in regulatory limbo amid fierce resistance from India’s central bank. Shetty said he expects some 100 million people in the country to start investing in crypto in the next two to three years.

CannaDAO announced the launch of its platform for cannabis growing and operations. It is the world’s first decentralized, member-governed platform for cannabis growing and operations. CannaDAO said it aims at tokenizing the cannabis industry with its permissionless, decentralised, and member-governed on-chain platform. Majority of the world is excluded from the benefits of the legal cannabis industry. The DAO is slated to launch on April 20 and powered by the Aurora cross-chain bridge running on the NEAR protocol. It will allow the users to participate and earn rewards from real-world operations within the cannabis industry, the company said.

Enforcement Directorate (ED) is probing the use of the darknet and cryptocurrencies by India's most-wanted fugitive, Dawood Ibrahim, amid suspicion that the underworld don has turned to digital tools to deploy the proceeds of crime raised through money laundering to invest primarily in offshore real estate. Ibrahim has been found to be actively involved in various illicit businesses, including betting, drug trafficking and extortion, said people privy to the details of the probe. «A substantial amount of the proceeds of crime raised through these illegal businesses has been invested to buy cryptocurrencies and purchase real estate,» said one of the officials, who did not wish to be identified. «Money is routed to wallets through hawala transactions and then these wallets are used to purchase real estate. The United Arab Emirates (UAE) is one of the preferred destinations both for purchase of wallets and investing in real estate. D-Company (Ibrahim's criminal syndicate) has a strong hawala network to send money to the UAE.»

NYSE" for a marketplace for non-fungible tokens (NFTs), taking a step closer to setting up an online trading place for cryptocurrencies and NFTs. The hype around cryptocurrencies last year spilled over to NFTs, a form of speculative investment that has attracted fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt. Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp.

Warren Buffett's Berkshire Hathaway invested $1 billion in Nubank, a digital lender, in the last quarter of 2021, according to a Securities and Exchange Commission (SEC) filing. The Brazil-based Nubank is a crypto-friendly player, whose investment unit, NuInvest, allows users to invest in crypto exchange-traded funds, according to the company website. This investment move by Buffett, often called 'Oracle of Omaha', has boggled many crypto fanatics as the CEO of Berkshire Hathaway has openly declared his dislike for crypto-assets and called Bitcoins a 'rat poison squared.'

crypto market was trading with minor changes on Thursday as investor sentiment was subdued amid ongoing geopolitical developments and Fed meet minutes. Crypto cart was trading mixed with six out of top -10 digital tokens in the red during early trade. Among the gainers, Avalanche rose more than 4 per cent, followed by a 2 per cent rise in Shiba Inu. Solana dropped about 2 per cent, whereas BNB, Cardano and Dogecoin shed a per cent each.

Munger, 98, spoke while fielding nearly two hours of questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publisher and provider of software to courthouses that he chairs. He is better known as vice chairman of Buffett's conglomerate Berkshire Hathaway Inc since 1978.

A Bulgarian MEP could be sanctioned after making what appears to be the Nazi salute in the European Parliament on Wednesday.

Reserve Bank of India (RBI) has been a stringent critic of crypto assets, reiterating its tough stand on the new age asset class. Deputy governor T Rabi Sankar called for an outright ban on private cryptocurrencies at the IBA Banking Technology Awards. He claimed the notorious early 20th century Ponzi schemes were better than investing cryptos. Prior to this, RBI governor Shaktikanta Das said that private cryptos are a serious threat to macroeconomic and financial stability, and investors should keep risks in mind as such assets have no underlying value whatsoever, 'not even a tulip'.