Russia Financial News

Russians are seeking a safe haven for their crypto fortunes in the UAE

Dozens of protesters flocked to Times Square on Saturday, condemning Russia's assault on Ukraine.

Russian forces fired eight rockets at the Yavoriv military range 30 kilometres northwest of Lviv in western Ukraine, expanding its offensive closer to the border with Poland.

Federal Reserve and then Russia’s invasion of Ukraine, Bitcoin remained stubbornly in a range. Only the briefest dip below $33,000; never above $46,000. As the sideways trading dragged on, Vladimir Putin’s war in Ukraine — and the sweeping financial sanctions heaped upon Russia in retaliation — added fuel to a long-running debate about crypto: Is it the ultimate haven from increasing governmental overreach? Just another risk-on asset class? Or a convenient tool for sanctions evasion crying out for stricter policing? For technical analysts, the discussion is of a more prosaic nature; namely, identifying the numerical levels and trading patterns that might signify a sustained trend break — something that could nudge Bitcoin out of its range and usher in either a strong recovery or another bear market.

One such example is Qatar 2022 Token, named after the upcoming Fifa World Cup, which is scheduled to be hosted in Qatar in late November this year. Qatar 2022 Token has spiked as much as 3,130 per cent within the given period. The token zoomed to $0.000000000323 from $0.00000000001 on Friday, according to the coinmarketcap data.

The euphoria of Biden's signature over the executive order fizzled after inflation in the world's largest economy shot up to new four decade highs. Barring the dollar-pegged Tether and Avalanche, all of the top digital tokens were trading lower on Friday. Bitcoin and BNB fell 6 per cent each, followed by a 5 per cent fall in Ethereum, Shiba Inu and Cardano each.

Over the past two months, as global asset markets were whipsawed by an increasingly hawkish Federal Reserve and then Russia’s invasion of Ukraine, Bitcoin remained stubbornly in a range.

Former HSBC chief executive Stuart Gulliver took a new role at the fintech arm of specialist currency fund manager Millennium Global Investors.

Thousands of people demonstrated in Tirana on Saturday against rising fuel prices, which have gone up more than 40% domestically in one week.

Saudi Arabia on Saturday executed 81 people convicted of crimes ranging from killings to belonging to militant and terrorist groups -- the largest known mass execution carried out in the kingdom in its modern history.

Turkey and Armenia have agreed to press ahead with efforts to establish diplomatic relations "without conditions" that could lead to reopening their borders for trade, their foreign ministers said on Saturday.

A group of volunteers in Warsaw has transformed a sports centre into an emergency shelter to support the growing number of people crossing the border.

It has been two weeks since Russia kicked off the first large-scale military action in Europe in the 21st century — a so-called “special operation” in Ukraine. The military conflict immediately triggered devastating sanctions against the Russian economy from the United States, the European Union and their allies and has put the crypto industry in a position that is both highly vulnerable and demanding.

Allen & Overy and Clifford Chance will close their Moscow offices because of Russia's invasion of Ukraine, joining a flood of western law firms leaving the country.

Former HSBC chief executive Stuart Gulliver took a new role at the fintech arm of specialist currency fund manager Millennium Global Investors.

Legal firms have retreated, sat on the fence and finally are starting to leave Russia en masse.

Bitcoin has largely remained unaffected by US Federal Reserve's hawkish stand and Ukraine crisis

Deutsche Bank is winding down its business in Russia, backtracking on its earlier stance and following Wall Street rivals in pulling back from the country.

The United States and the European Union have announced new actions targeting Russia’s economy and wealthy individuals as a report suggests Vladimir Putin’s allies have attempted to circumvent sanctions using cryptocurrency in foreign countries.

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BlackRock funds have incurred losses of about $17bn due to their holdings in Russian companies, with the world's largest money manager having to write down assets in a market that has become uninvestable following the invasion of Ukraine.