Cryptos maintain gains as Ukraine crisis worsens

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Major cryptos held their Monday gains as the security issue in Ukraine exacerbated by Russia’s incursion worsened.

  • Bitcoin was trading at $43,000 early Tuesday, up from $38,000 the previous day. Ether was going for more than $2,900, up from $2,600 yesterday. During this crisis, Bitcoin has outperformed gold.
  • Peace discussions between the two parties in Minsk yesterday night resulted in no publicly recognized conclusions other than the need to meet again. Yesterday, the United States shuttered its embassy in Minsk and authorized the partial evacuation of employees from its Moscow mission. Earlier, Belarussian lawmakers agreed to abolish the country’s non-nuclear status, allowing Russia to station nuclear weapons on its territory.
  • Overnight, intense violence resumed in Ukrainian towns, including the capital of Kyiv. A 65-kilometer-long Russian military convoy was observed traveling into the capital early Tuesday.
  • The Indian embassy in Kyiv has asked all Indian citizens to leave the city “immediately today.” According to NDTV, which cited people familiar with the situation, Indian Prime Minister Narendra Modi would ask the Air Force to assist with the evacuation.
  • The United States has earmarked $350 million towards Ukraine’s defense budget, while the United Kingdom, France, Germany, Canada, Sweden, Belgium, the Netherlands, Portugal, Greece, the Czech Republic, Romania, and Spain have promised to supply ammunition or defensive equipment.
  • Due to sanctions orders, Mastercard has excluded “several” financial institutions from its payments network, according to a statement posted on its website on Tuesday.
  • President Vladimir Putin, the central bank’s overseas reserves, and a swath of banks, energy exporters, and airlines have all been sanctioned in reaction to Russia’s actions in Ukraine.
  • Russia describes the invasion as a “special military operation” and argues that it is “denazifying” Ukraine.
    The European Union, the United States, the United Kingdom, and Canada have stated that they will exclude several Russian banks from the SWIFT payments network.
  • In the meanwhile, the Ukrainian Ministry of Finance is issuing war bonds to help fund the military operation. Authorities have also asked for donations in bitcoin, ether, US Tether, and Polkadot.
  • Binance founder and CEO Chanpeng “CZ” Zhao stated on Twitter that “it frequently takes a week for ‘the market’ to grasp,” hinting that the market surge may be reversed.

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  1. Pingback:Bitcoin analysts ponder impact as oil prices rise to the highest level since 2008 - WITHCRYPTO

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