Results of the week: Binance introduced restrictions for clients from the Russian Federation, and the National Bank of Ukraine banned the purchase of cryptocurrencies from hryvnia accounts

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Results of the week: Binance introduced restrictions for clients from the Russian Federation, and the National Bank of Ukraine banned the purchase of cryptocurrencies from hryvnia accounts

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Binance exchange introduced restrictions for users from Russia, the NBU set a limit on quasi-cash transactions that affect the purchase of cryptocurrencies, Justin Sun announced the launch of the USDD algorithmic stablecoin and other events of the outgoing week.

Bitcoin updated the local minimum

On Monday, April 18, the quotes of the first cryptocurrency updated a local minimum since mid-March at a level below $38,500. However, by the evening the price returned to $41,000, and on Thursday, April 21, it almost touched $43,000.

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Bitcoin is trading near $39,640 at the time of writing.

Results of the week: Binance introduced restrictions for clients from the Russian Federation, and the National Bank of Ukraine banned the purchase of cryptocurrencies from hryvnia accounts

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BTC/USDT hourly chart of the Binance exchange. Data: Trading View.

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Analysts at Arcane Research noted that the correlation between bitcoin and technology stocks has reached a maximum since July 2020, and predicted a decrease in the profitability of mining the first cryptocurrency. Glassnode allowed bitcoin to bottom, noting the redistribution of coins among investors in the range of $35,000-$42,000.

Traditionally, the flagship pulled the rest of the market with it. Almost all digital assets from the top 10 by market capitalization closed the week in the red zone. The exception is Terra (LUNA), whose quotes have increased by more than 10% over the past seven days.

Results of the week: Binance introduced restrictions for clients from the Russian Federation, and the National Bank of Ukraine banned the purchase of cryptocurrencies from hryvnia accounts

Data: CoinGecko.

According to the CoinCodex service, the Everscale blockchain token (EVER) has risen in price the most over the week among moderate-cap digital assets. Amid the growing popularity of the decentralized exchange FatQube, its price increased by 47%.

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The token of the decentralized data platform Pocket Network (POKT) fell in price more than others. Its price dropped by 22%.

Results of the week: Binance introduced restrictions for clients from the Russian Federation, and the National Bank of Ukraine banned the purchase of cryptocurrencies from hryvnia accounts

Data: CoinCodex.

The total capitalization of the cryptocurrency market amounted to $1.9 trillion. The Bitcoin dominance index rose to 38.9%.

Binance has introduced restrictions for users from Russia. The media reported on the links of the exchange with Rosfinmonitoring

Cryptocurrency exchange Binance announced restrictions for accounts of residents of the Russian Federation, on which the total value of crypto assets exceeds €10,000.

They will only be able to withdraw funds. The company does not plan to stop providing services in Russia yet. However, Binance noted that they are monitoring the political situation and in the event of an expansion of international sanctions against the country, they will also be applied. The announced measures followed the adoption of the fifth package of EU restrictive measures against Russia.

Reuters reported that the regional office of the Binance cryptocurrency exchange had ties with Rosfinmonitoring and the FSB of the Russian Federation. The deal allegedly included assistance in doing business in the region in exchange for the transfer of client data (names and addresses) to law enforcement officers under the pretext of combating terrorist threats and illegal activities.

The events unfolded against the background of the Rosfinmonitoring campaign to identify the cryptocurrency assets of opposition leader Alexei Navalny.

The exchange denied the Reuters article by publishing correspondence with the agency’s journalists and refuting allegations of cooperation with Russian government agencies.

The company said that the Russian authorities never contacted the platform about Navalny. Binance also called false claims that the exchange shares any user data with Russian regulators and agencies controlled by the FSB.

The BitRiver group of mining companies fell under US sanctions

The US Treasury imposed sanctions against the BitRiver group of companies engaged in cryptocurrency mining in the Russian Federation. According to the agency, the operator of mining data centers founded in 2017 currently has three offices in the Russian Federation. In addition to him, ten subsidiaries were included in the sanctions list.

NBU banned the purchase of cryptocurrencies from hryvnia accounts

The National Bank of Ukraine introduced additional restrictions on cross-border transactions of citizens, which affected, among other things, cryptocurrency transactions, in an effort to prevent the outflow of capital from the country under martial law.

According to the order, individuals are temporarily prohibited from conducting quasi-cash transactions with hryvnia bank accounts and in foreign currency in the amount of more than 100,000 hryvnia per month. Such operations include the purchase of cryptocurrencies, replenishment of brokerage or forex accounts, replenishment of electronic wallets, purchase of gift certificates, transfers in favor of betting companies, payment of traveller’s checks, and others.

The trend for algorithmic stablecoins is gaining momentum

Capitalization of the algorithmic stablecoin Terra USD (UST) approached $18 billion, which allowed the asset to bypass Binance USD (BUSD) and occupy the third place in the rating of stablecoins. On the back of the success of UST, the LUNA ecosystem token rose by 17.5% on April 19.

Tron founder Justin Sun announced plans to launch his own algorithmic stablecoin USDD on May 5th. The stablecoin will be managed by Tron DAO. According to Sun, the organization will provide an annual return of the asset at the level of 30%.

Contrary to the obvious trend, Tether (USDT) CTO Paolo Ardoino criticized algorithmic stablecoins, saying that due to his approach to providing this type of asset dangerous for the cryptocurrency market:

“If you have a UST-scale algorithmic stablecoin liquidation going on, then the market can handle it. But imagine if you have a stablecoin like Tether with a capitalization of $80 billion or $100 billion, which is mainly backed by digital assets. It is difficult to imagine what will happen and be sure of & nbsp; sufficient liquidity to stop the cascading effect,” he said.

MetaMask warned Apple users about the risk of losing funds, and Phantom launched an Android wallet

The MetaMask team warned users of a non-custodial wallet about the risks of storing data in Apple iCloud due to possible phishing attacks and advised disabling backup for MetaMask in the device settings.

At the same time, the operator of the Phantom blockchain-based cryptocurrency wallet Solana launched a mobile version of the app for Android devices.

U.S. authorities have warned that DPRK-linked hackers are targeting the crypto industry

The Cybersecurity and Infrastructure Protection Agency, the FBI and the US Treasury have issued a joint warning about the threats of North Korean hackers aimed at stealing cryptocurrencies. It lists the Lazarus Group, APT38, BlueNoroff, and Stardust Chollima.

This week, the head of Binance, Changpeng Zhao, announced that the exchange successfully confiscated assets from 82 wallets of North Korean hackers worth $5.8 million. Ronin (Axie Infinity) sidechain hack, estimated at $625 million

Beanstalk Farms DeFi protocol lost $181 million as a result of the hack

The Ethereum-based stablecoin protocol Beanstalk Farms lost more than $181 million in cryptocurrencies as a result of a hack. The hacker received about $76 million. The attack was implemented using a loan of $1 billion, with which the hacker conducted a fictitious vote on the withdrawal of funds.

This week there was a curious case of hacking. After a successful attack on the Zeed DeFi protocol based on BNB Chain, an unknown destroyed smart contract with assets worth $1 million.

On Saturday, due to an error by the AkuDreams team, the Dutch auction of the NFT project ended with the loss of user funds. Over 11,539 ETH (~$33.93 million) were permanently locked in the smart contract.

Nike and RTFKT presented the first NFT collection, and the creators of Bored Ape Yacht Club revealed the launch date of the Otherside metaverse

Nike and RTFKT Studio have presented the first collection of non-fungible tokens on the Ethereum blockchain. The digital sneaker is inspired by the Nike Dunk silhouette.

Yuga Labs will launch the Otherside metaverse on April 30th. Over the past 24 hours, sales of non-fungible collection tokens BAYC and MAYC increased by 18% and 108% respectively.

The United States will pay off Ross Ulbricht’s $2.7 billion debt with seized bitcoin

Authorities The US will use withdrawn 69,370 BTC (~$2.75 billion) to pay off the $183 million debt owed by the founder of the Silk Road darknet marketplace, Ross Ulbricht, to the state.

In April 2013, a hacker stole 69,370 BTC while hacking into an illegal platform. In November 2020, US law enforcement officers confiscated bitcoins. Ulbricht refused to claim them.

The date of the auction for the sale of seized crypto assets has not been specified.

Uniswap Labs announced the blocking of sanctioned addresses at the frontend level

Uniswap Labs, behind the development of the leading Ethereum exchange Uniswap, has begun to block addresses at the front-end level associated with illegal activity.

Blockchain data monitoring is implemented jointly with the TRM Labs platform. The latter marks crypto wallets that may be associated with hacker attacks, fraud, terrorist financing, ransomware, human trafficking, as well as sanctioned addresses.

Russian bankers have proposed introducing criminal penalties for storing cryptocurrencies on non-custodial wallets

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The Association of Banks of Russia has developed a concept for collecting cryptocurrencies stored on non-custodial wallets. It involves the introduction of criminal liability for their owners.

The concept provides for the establishment of criminal liability for the very fact of finding assets on such wallets, if the cryptocurrency has not been declared.

Also on ForkLog:

  • A book about Ethereum and Vitalik Buterin will be filmed in Hollywood.
  • Snoop Dogg will present digital hemp farms in the form of NFTs.
  • Bloomberg announced  preparing Blockchain.com for an IPO this year.
  • Coinbase has launched a beta version of the NFT marketplace.

More to read and see

In 2022, the Move-to-Earn concept is gaining popularity. One of the most notable representatives of the segment is the STEPN project. ForkLog figured out how the application works, what are the pitfalls, and whether daily exercise can increase financial well-being.

They told what indicators “twist” statistics, why they do it, and why it is dangerous for Russia.

ForkLog educational cards explained what the blockchain trilemma is and how the Everscale project works.

ForkLog AI has collected the most important news from the AI ​​world over the past week.

The decentralized finance (DeFi) sector continues to attract increased attention from cryptocurrency investors. ForkLog collected the most important events and news of recent weeks in a digest.

On Monday, April 18, live ForkLog LIVE talked about the bitcoin rate, the race of L1 protocols and current news. The guests were Ton Weiss, a trader and ForkLog resident, as well as Nikita Inshakov and Vladimir Maslyakov from HyperFlex.

Dear readers, the online edition joins the Front Pickup initiative and starts raising funds for a car for Ukraine defenders, which we plan to drive from abroad.
The Mitsubishi l200 SUV is already awaiting redemption. We have a few days. Help our soldiers get the right car. Paypal stopruorg@gmail.com Ethereum: 0x8ecf8dB15ef228331b87620c25383707fC6f3f57



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