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While the conflict in Ukraine is a hot topic, fears of rising inflation continue to haunt Americans residing in the country, as economists and analysts note U.S. inflation will likely remain high. Inflation is likely going to be worse than initially feared this year, Goldman Sachs explained in a report published on Sunday. Moreover, in terms of inflation coupled with the Ukraine invasion, an economics professor at American International College (AIC) stressed there’s “a perfect storm brewing.” Goldman Sachs: ‘Strong Jobs Market and Rising Inflation Could Ignite a Moderate Wage-Price Spiral’ Inflation has been ghastly in 2022 and it may not get better this year, according to a new inflation report stemming from Goldman Sachs economists on Sunday. “The inflation picture has worsened this winter as we expected, and how much it will improve later this year is now in question,” the note from the financial institution explained. Goldman’s note to investors, follows the Consumer Price Ind

PRESS RELEASE. Moledao presents MoleHack: NFT 2.0 – a global challenge to discover new innovations in the NFT space. In partnership with Bybit, Polygon, BitDAO, iZUMi Finance, Project Galaxy, thirdweb, buildspace, L2Y, Web 3 Collective and more, the hackathon has over $80,000 grants and prizes in total for builders to win. In conjunction with MoleHack: NFT 2.0, Moledao launched its exclusive web 3 membership NFTs on Project Galaxy for both new and old builders of Moledao. For the new builders of MoleHack: NFT 2.0, the first 50 registrants who submit their completed project will be able to claim a special edition hacker NFT while the Original Mole collection will be claimable for all Moledao Web 3 Hackathon participants and partners. Both batches of NFTs will be claimable in April. Moledao NFT holders, also known as Moles, are part of an exclusive hidden Mole kingdom that is living in the age of web3. Some benefits include introduction to accelerators, investors, and membership to

The president and chief executive officer of Ebay, Jamie Iannone, discussed the possibility of digital currency acceptance on the online auction website and non-fungible token (NFT) sales in a recent interview published on February 27. Iannone stressed that currently, Ebay doesn’t accept cryptocurrencies but in March, the company plans to go “deeper on all of these things, payments, advertising, our focus categories.” Ebay CEO Jamie Iannone: ‘Without Any Official Announcement, People Started Trading NFTs on the Platform’ There are a few online business giants such as Amazon and Ebay, that crypto supporters hope someday may support cryptocurrency payments in the future. Ebay has been the topic of conversation for years as crypto advocates believe digital assets and the online auction platform would benefit each other a great deal. On May 11, 2021, Bitcoin.com News reported on Ebay allowing NFT sales on the auction site. During his interview with The Street, Ebay CEO Jamie Iannone e

A bank run has started in Russia as citizens rush to withdraw cash amid escalating sanctions. The Russian ruble also nosedived to a record low, plunging more than 30%. “There are about 70 people in line. Eyewitnesses say the money in the ATM runs out within 40 minutes.” Russians Rush to Withdraw Cash as Sanctions Intensify The Russian ruble nosedived 30% to a record low against the U.S. dollar Monday morning, falling as far as 119.50 per dollar from Friday’s close as offshore trading started in the morning during Asia hours. Russia’s biggest lender, Sberbank, which has a listing on the London Stock Exchange, also plunged 75% Monday. The plunge followed the European Commission announcing Saturday that Western allies will impose restrictive measures on the Russian central bank’s international reserves worth $630 billion. European Commission President Ursula von der Leyen said: We will paralyze the assets of Russia’s central bank. This will freeze its transactions. And it will mak

On Monday, terra (LUNA) rose for its 8th session in nine days, as its value increased by close to 60% over the last week. Anchor (ANC), on the other hand, was lower after climbing by almost 50% in the same period. Biggest Gainer Terra (LUNA) has been one of the standout performers in cryptocurrency markets in recent weeks, despite increased market volatility. Monday’s rally in LUNA/USD saw prices climb to their highest level in over six weeks, hitting the long-term resistance point of $84.70 in the process. This surge comes as the 14-day RSI also hit a hurdle, climbing to its resistance level of 71, which hasn’t been broken since late December. As of writing this, LUNA rose to an intraday high of $84.84, which is less than 24-hours after trading at a low of $70.57. Despite this move, two factors now potentially stand in the way of any further short-term gains, with price strength currently overbought, and the current resistance level. Should these both be overcome, traders ma

Ukraine is now trying to expose cryptocurrency wallets used by politicians in Moscow amid warnings that Russia may employ digital coins to circumvent sanctions. The initiative comes as western allies agree to expel some Russian banks from SWIFT, the global interbank payments system. Government of Ukraine Seeks Info on Crypto Assets of Russian and Belarusian Officials Authorities in Kyiv have issued a call on social media for information about crypto wallets controlled by politicians in Russia and Belarus. On Saturday, Ukraine’s Deputy Prime Minister Mykhailo Fedorov announced on Twitter that the country’s crypto community will reward those who provide details leading to their identification. Ukrainian crypto community is ready to provide a generous reward for any information about crypto-wallets of Russian and Belarusian politicians and their surroundings. War crimes must be pursued and punished! To share info please contact in Telegram: https://t.co/XHidwUQ8bE . — Mykhailo Fedor

PRESS RELEASE. NFTs have taken the crypto community by storm. As market participants realized the number of applications for ‘Non-fungible tokens’ (used to certify the authenticity of digital assets), many immediately saw $$$ signs. Nevertheless, although the talk about NFTs often only revolves around certifying artwork, there is another field that has natural synergies with NFT technology too – metaverses, i.e., the next generation of gaming. On top of this trend is MetaShooter , the first decentralized blockchain-based hunting metaverse that joins millions of gaming enthusiasts in a community to share a realistic (VR compatible) hunting experience. Not only are modern-day hunters invited to compete in tournaments with stunning visuals, but they are also rewarded with NFTs of monetary value by hunting trophies and triumphing against their fellow hunters. MetaShooter modernizes the hunting experience, developing new ways old hobbyists and new gamers alike can interact within the

Rakuten Group, the Japanese electronic commerce and online retail company based in Tokyo has announced the launch of a non-fungible token (NFT) marketplace called Rakuten NFT. The announcement notes that new features will be added in the future, and a peer-to-peer service for minting and selling NFT content is planned to launch in 2023. Rakuten Launches Non-Fungible Token Marketplace During the last few years, the Japanese online retail giant Rakuten has been dipping its feet into the world of cryptocurrencies and blockchain solutions. In the summer of 2019, Rakuten launched a cryptocurrency exchange and in the spring of 2021, Rakuten allowed customers to load crypto into Rakuten Pay accounts. Now the company is getting into the NFT game, as Rakuten announced the launch of a new platform called Rakuten NFT . “Rakuten NFT is a service that provides a marketplace for users to purchase NFTs, as well as peer-to-peer buying and selling of NFTs, in a range of areas such as sports and e

It’s getting cheaper to send ethereum these days as the gas price to push a transaction is more than 80% less expensive than it was to transact with ether 48 days ago on January 10. On that day, Ethereum network fees were around $52 per transaction and today, the average transaction fee is $10.26 per transfer. While on-chain fees are cheaper, layer two (L2) transactions have followed suit dropping significantly during the last seven days. Ethereum Gas Fees Continue to Slide It’s a lot less expensive to transact with the Ethereum (ETH) network on February 27, as average size fees are down to 0.0039 ETH or $10.26 per transfer. The last time Ethereum network fees were this low was six months ago, back in late-August 2021. Currently, with average fees at $10.26 per transfer, it’s 80.26% cheaper than it was transferring ETH on January 10, 2022. At that time over a month ago, the average transaction fee was $52 per transaction. Ethereum fees have been sliding downward ever since tha

The total value locked in decentralized finance (defi) has managed to jump above the $200 billion zone, as crypto markets have rebounded from the market downturn last week. A number of native assets from the $611 billion worth of smart contract protocols have seen double-digit gains with cypherium (CPH), counterparty (XCP), and terra (LUNA) leading the pack. TVL in Defi Jumps Back Above $200 Billion — Cypherium, Counterparty, Terra Rise Crypto markets have recovered after initially dropping after Russia invaded Ukraine three days ago and the rebound has pushed defi value up as well. After falling beneath the $200 billion mark, the total value locked (TVL) in defi has jumped back above the zone to $200.94 billion on February 27. The TVL in defi across all the top blockchains hit a low of $185.9 billion on January 28 and it’s up 10.61% since that day. Curve dominance is 8.68% on Sunday with $17.86 billion total value locked but the defi protocol’s TVL is down 5.61% since last week.

Tech entrepreneur Elon Musk has announced that the Starlink satellite internet service has been enabled for Ukraine. The move comes in response to a request from the government in Kyiv which is trying to halt a Russian military assault that may disrupt communications, among other threats. Elon Musk Provides Ukrainians With Access to Starlink U.S. billionaire and crypto influencer Elon Musk revealed on social media the activation of Starlink for Ukraine. The satellite internet constellation is operated by Spacex, the aerospace manufacturer and provider of space transportation services founded and managed by Musk. The entrepreneur also tweeted that the company is sending Ukrainians the necessary equipment. Starlink’s low-orbit satellites provide high-speed broadband internet across the globe but access to the network requires the installation of a special antenna and modem. Earlier on Saturday, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov took to Twitter to address

The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice (DOJ) announced Friday that the founder of the global crypto fraud scheme Bitconnect has been charged. “Bitconnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion,” the DOJ described, adding: A federal grand jury returned an indictment today charging Satishkumar Kurjibhai Kumbhani, a citizen and resident of India, with multiple crimes for his alleged role in a massive criminal conspiracy involving the cryptocurrency company he founded, Bitconnect. The 36-year-old from Hemal, India, misled investors that the scheme’s “Lending Program” was able to “generate substantial profits and guaranteed returns” using “

U.S. Senator Ted Cruz says one of the reasons he is so bullish on bitcoin is because it is decentralized and not controllable. He added that “China recently banned bitcoin because they can’t control it, which is the exact same reason Elizabeth Warren hates bitcoin.” US Senator Bullish on Bitcoin U.S. Senator Ted Cruz from Texas spoke favorably about bitcoin at the Conservative Political Action Conference (CPAC) Thursday. Launched in 1974, CPAC “is the largest and most influential gathering of conservatives in the world,” its website describes. During his speech at the event, the senator said: One of the reasons why I’m so bullish on crypto, on bitcoin, is because it is decentralized and not controllable. “Let me give a fantastic example,” he continued. “So Justin Trudeau said I don’t like me some truckers, so we are going to freeze your assets. So the court went to try to freeze the crypto that was being given to the truckers.” Senator Cruz proceeded to read aloud a letter fr

Russia could turn to cryptocurrency if it is banned from the SWIFT payments system. Analysts have warned that if Russia is able to use crypto to evade sanctions, “political support in the U.S. for crypto will fall and regulatory risk will rise.” Crypto Faces Regulatory Risks if Used by Russia to Evade Sanctions Amid growing talk of banning Russia from the SWIFT global interbank payments system after its invasion of Ukraine, some analysts have warned that Russian President Vladimir Putin could turn to cryptocurrency to evade sanctions. “We believe Washington is worried that Russia will use crypto to evade sanctions,” Cowen Washington Research Group analyst Jaret Seiberg reportedly said Friday. He added: If Russia is able to use crypto this way, then we believe political support in the U.S. for crypto will fall and regulatory risk will rise. Seiberg believes that since most global trade is still dollar-denominated, it could be challenging for Russia to use crypto to evade SWIFT.

An executive at Goldman Sachs is joining Coinbase after 16 years at the global investment bank. “It’s time to embrace the crypto economy,” he said, adding that the change is a “once in a lifetime opportunity to be part of building the next stage of the digital evolution.” From Goldman Sachs to Coinbase Roger Bartlett is leaving global investment bank Goldman Sachs to join crypto exchange Coinbase. At Goldman Sachs, he was a managing director and global co-head of operations for Global Markets for one year. Before that, he was the global head of operations for Equities for almost five years. Prior to joining Goldman Sachs, he was vice president at Credit Suisse for six years. Bartlett announced on Linkedin Friday: After 16 years at Goldman Sachs, it’s time to embrace the crypto economy. I am delighted to announce that next week I’ll be joining Coinbase to run Global Financial Operations. He explained that now it is time to take his experience from Goldman Sachs and follow his “p

PRESS RELEASE. Leading personal financial services’ evaluator, the Ascent, named KuCoin crypto exchange the best cryptocurrency app of 2022. The Ascent is a flagship product of world-renowned private financial and investing advice company , The Motley Fool. Ascent rated KuCoin Exchange based on factors like fees, selection of coins, customer reviews, KYC rules, security features and wallet availability. Accolades from organizations such as the Ascent or Forbes—which named KuCoin Exchange one of the best cryptocurrency exchanges last year—reflect the platform’s significant growth volume and user base in recent years. The latest survey indicates that KuCoin Exchange received 10 million users by December 2021 from 207 countries. In 2021, KuCoin Exchange’s cumulative trading volume hovered around $1 trillion (Spot & Futures trading) while the average daily trading volume reached the $3 billion mark. KuCoin Exchange Review 2022 on vetted ranking sites like CoinMarketCap and Coinge

After Ukraine’s central bank imposed a limit on cash withdrawals, Kuna, a cryptocurrency exchange that provides trades in ruble and hryvnia saw a notable surge in volume. Moreover, to this day, crypto-assets being swapped on Kuna such as bitcoin, tether, and ethereum are trading for a significant premium. Crypto in Ukraine Sees Premiums The ongoing conflict continues in Ukraine after Russian troops invaded the territory. The United Nations (UN) estimates that roughly 100,000 Ukrainian citizens have fled the country during the last 24 hours. Following the Russian invasion, two days ago, the National Bank of Ukraine (NBU) implemented a daily cash withdrawal cap of 100,000 hryvnias ($3,350). The NBU invoked the mandate on February 24, after Ukrainian president Volodymyr Zelensky imposed martial law. Immediately following the NBU’s limit mandate on cash withdrawals, the cryptocurrency exchange Kuna saw trade volume surge by $3.5 million on Thursday. Trade volume on Kuna jumped from

Contrary to some expectations, Beijing’s crackdown on the crypto mining industry has increased Bitcoin’s carbon emissions, researchers have alleged. Leaving China, miners also left behind its eco-friendly hydropower and are increasingly relying on energy generated by fossil fuels, they claim. Bitcoin Mining Allegedly Less Green Since Miners’ Exodus From China Cryptocurrency mining has become a dirtier process after the Chinese government effectively prohibited bitcoin extraction in the People’s Republic, according to research published in the Joule journal. The share of renewable energy used to power mining operations has fallen from almost 42% to around 25% last August, the study insists. It has been estimated that Bitcoin produces more than 65 megatons of carbon dioxide annually. The amount exceeds the total carbon emissions of a country like Greece, for example, which in 2019 registered less than 57 megatons of CO2. One of the authors, Alex de Vries, told the BBC: We see the

Ertha Metaverse, one of blockchain gaming’s most talked about metaverses has today announced the listing of the ERTHA token on another of the crypto industry’s top exchanges – ByBit. With over 5 million registered users across the globe, ByBit is a fantastic fit for Ertha. In addition to being one of the fastest-growing cryptocurrency derivatives exchanges, ByBit provides an efficient, transparent, and innovative trading environment for its users. By listing on ByBit during challenging market conditions, Ertha aims to strengthen its position as one of the leading metaverse tokens. The project will continue expanding its availability to potential investors and keep momentum up as its development team seeks to launch 2022’s biggest metaverse. Ertha NFT sales remain largely unaffected by the wider industry troubles and have already sold over 22,000 of their revenue-generating land plots . Clearly, the hype surrounding metaverse projects shows no sign of slowing down and plenty of weal

Cryptocurrency donations have poured into a nonprofit organization that provides support to Ukrainian soldiers after Russia launched a large-scale attack on Ukraine. More than $5 million in bitcoin has already been raised. Meanwhile, the group’s fundraising page on Patreon has been abruptly removed. Crypto Donations Soar After Russia Invaded Ukraine One of the largest non-governmental organizations (NGOs) providing support to Ukraine’s military, Come Back Alive, has received over $5 million in bitcoin donations after Russia launched a large-scale offensive against Ukraine. Founded in 2014, the Kyiv-based group provides support to Ukrainian soldiers, including a range of military equipment, training services, and medical supplies. Donations to the BTC address listed on the organization’s website soared Thursday after Russia launched a full-scale military attack on Ukraine. At the time of writing, the wallet address has received 131.78144015 BTC . An analysis of all the donations

The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform,” said the U.S. Department of Justice. Bitmex’s Founders Guilty of Bank Secrecy Act Violations The U.S. Department of Justice (DOJ) announced Thursday that the founders of cryptocurrency derivatives exchange Bitmex have pled guilty to violating the Bank Secrecy Act (BSA). The DOJ stated: Arthur Hayes and Benjamin Delo designed Bitmex as a platform to flaunt U.S. anti-money laundering rules. Hayes, 36, is from Miami, Florida. Delo, 38, resides in the U.K. and Hong Kong. The Justice Department explained that from at least September 2015 through the time of their indictment in September 2020, the two “willfully caused Bitmex to fail to establish and maintain an AML program,” including a know-your-customer (KYC)

Popular mobile payment platform Cash App, developed by Jack Dorsey’s Block Inc., generated $10 billion in bitcoin revenue and $218 million in bitcoin gross profit in 2021. Compared to the previous year, the bitcoin revenue increased 119% while gross profit rose 124%. Cash App’s Bitcoin Business Block Inc., formerly Square Inc., released its Q4 2021 earnings report Thursday. The report includes the performance of Cash App, the firm’s mobile payment platform that allows users to trade bitcoin. The company stated: Cash App generated $1.96 billion of bitcoin revenue and $46 million of bitcoin gross profit during the fourth quarter of 2021, up 12% and 14% year over year, respectively. “Compared to the third quarter of 2021, bitcoin revenue and gross profit increased on a quarter-over-quarter basis, driven primarily by increased volatility in the price of bitcoin, which affected trading activity compared to the prior quarter,” Block detailed, adding: For the full year of 2021, Cash