Russia Financial News

Bitcoin and other cryptocurrencies tumbled on 22 February as investors fled risk-sensitive assets after Russian President Vladimir Putin ordered troops into Ukraine.

Bitcoin dropped to a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level. Bitcoin dropped for a sixth straight day, touching a low of $36,372 on Tuesday after Russian President Vladimir Putin said he’s recognizing two self-proclaimed separatist republics in eastern Ukraine and ordering troops there. Other cryptocurrencies also declined, with Ether off as much as 2.9% and XRP down as much as 6.7%. Bitcoin dipped below $40,000 level over the weekend and kept weakening as the Ukraine crisis deepened, undermining the argument that cryptocurrencies are a haven in times of geopolitical turmoil. At the same time, gold has reached its highest level since June.

Dogecoin and Shiba Inu dropped 10 per cent each. Bitcoin and Ethereum fell 5 per cent each. The global crypto market cap tumbled as much as 6 per cent to $1.67 trillion mark. On the contrary, the total crypto market volume jumped rallied more than 43 per cent to $101.33 billion.What's Cooking in India?The prime architect of India’s biometrics-based unique identity programme, Nandan Nilekani, feels that the proposed digital rupee should remain 'anonymous'. In a conversation with ET, the Infosys co-founder said concerns about surveillance will arise if all payment transactions are recorded and are visible. He adds that stablecoins can easily become un-stablecoins if there is a run on that currency.

Russia's finance ministry has said that it is willing to take suggestions on cryptocurrencies from the country's central bank, but they should not clash with their approach.

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Escalating tensions over Ukraine continued to rattle markets Monday night.

Bitcoin (BTC) fell to fresh lows on Feb. 22 as the aftermath of Russia's expected incursion into Ukraine triggered more market woes.

Global stock indexes and U.S. futures fell, while crude-oil futures climbed after Russian President Vladimir Putin ordered troops into two breakaway areas of Ukraine that he had earlier recognised as independent.

The world's attention is on eastern Ukraine, where Moscow's forces circle. Yet Russian President Vladimir Putin's ambitions extend far beyond. He wants to renegotiate the end of the Cold War.

Cryptocurrencies traded in the red early on February 22 amid the impact of the Russia-Ukraine crisis. Russia's continued aggression towards Ukraine has prompted the United States and Europe to vow sanctions, further casting shadow over global markets.

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.

Stock futures fell sharply on Monday night, as traders continue to monitor brewing tensions between Russia and Ukraine.

Russian President Vladimir Putin ordered forces to “maintain peace” in separatist regions of eastern Ukraine, hours after the Kremlin recognized the area’s independence.

Amid the barrage of last week’s regulatory news, from rumors of Joe Biden’s upcoming executive order on digital assets to another round of the Russian government’s crypto tug of war, the storyline that was arguably the most consequential for the mainstream narrative on the social effects of crypto has been the one around the Canadian government’s standoff with the Freedom Convoy. The government’s invocation of emergency powers to put down a protest movement — combined with the movement’s financial infrastructure being one of the main attack vectors — has led many observers to appreciate with renewed vigor Bitcoin’s capacity to resist state financial censorship.

The European Union’s top officials said the bloc will impose more sanctions against those involved in Russia’s recognition of two separatist regions of eastern Ukraine amid fears of a potential Russian invasion of the country.

Russian President Vladimir Putin is set to recognise the independence of two rebel-controlled regions in eastern Ukraine, the Kremlin said, breaching the 2015 protocol that ended the conflict in Donbas and further inflaming the tensions between the two countries.

As cryptocurrencies have gone mainstream, macro-economic trends around the globe have begun to take greater precedence over price action. This has most recently been showcased by the market “resurgence” owing to border tensions between Russia and Ukraine.

It’s natural to be excited when a country announces it is working on a crypto-regulation law or even a draft law. However, crypto-lovers and investors need to pause and take a closer look before concluding that the development is a bullish sign for the industry.

Bitcoin (BTC) dipped below $38,000 on Feb. 21 but the bulls are attempting to arrest the decline and start a recovery. The sustained weakness in 2022 seems to have toned down expectations of a strong rally.

Russia’s Ministry of Finance has upped the stakes in its drawn-out showdown against the country’s Central Bank by formally introducing a bill that proposes to regulate digital assets rather than banning them.

Bitcoin and other cryptocurrencies were under pressure on 21 February as investors continued to shun risk-sensitive assets in the face of geopolitical tensions.