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Breaking: Ukrainian President Volodymyr Zelenskyy Legalizes Bitcoin & Crypto In The Country

Mark Brennan
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Breaking: Ukrainian President Volodymyr Zelenskyy Legalizes Bitcoin & Crypto In The Country

Ukrainian President Volodymyr Zelenskyy legalizes Bitcoin & crypto in the country.


 

Ukrainian President Volodymyr Zelenskyy has signed a bill, making it into law on virtual assets, and legalized Bitcoin and crypto.

Ukraine Ministry of Digital Transformation of Ukraine Writes (Translation):

“Ukraine has legalized the cryptosector -Now foreign and Ukrainian cryptocurrencies will operate legally in Ukraine and banks will open accounts for crypto companies. This is another important step towards the development of the virtual assets market in Ukraine.”

 

The step is taken after strong support to Ukraine in digital currency donations against a Russian invasion.

Ukraine’s National Commission on Securities and the Stock Market will regulate the crypto market. Ministry of Digital Transformation will determine the legal status, classification, ownership, and virtual asset regulators and set registration requirements for crypto services providers. The digital ministry said exchanges would operate legally, and banks will open accounts for them.

The state body is tasked with “shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area.”

 Ukraine has received $100M in crypto donations during its war with Russia so far.

 

Governments Think Bitcoin Mining Poses More Environmental Threats, But facts Are Different

Albert Brown
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Governments Think Bitcoin Mining Poses More Environmental Threats, But facts Are Different

Bitcoin Mining Uses Less Energy Than Gold, but Governments Think BTC Poses More Environmental Threats.


 

Over the past few years, global regulators have complained about the energy consumption of Bitcoin mining activity, saying the cryptocurrency niche has the potential to cause blackouts in major cities. 

As a result of the energy consumption of Bitcoin mining, several countries have called for complete regulation of the activity in a bid to prevent any further abuse. 

However, the call to regulate Bitcoin mining due to energy concerns is not the same for other activities that consume much more energy than Bitcoin. 

bitcoin mining as compared to other assets mining's

Per recent data, on a yearly basis, Bitcoin uses 183 million Gigajoules (GJ) for the mining of the cryptocurrency, which is valued at $4.5 billion annually.  

Interestingly, other activities like gold mining, gold recycling, and minting of paper currency consume 475 million GJ, 25 million GJ, and 39 million GJ worth of energy, respectively. 

While governments from various parts of the world seem really troubled about the environmental impact of Bitcoin mining caused by BTC’s energy consumption, these countries have been silent so far, giving hints that there could be more to these complaints. 

Understandably, regulators believe Bitcoin poses a risk to the global financial system following its widespread adoption, but calling for stringent regulations on BTC that could hinder the growth of the asset class will only do more harm than good to investors. 

 

Former White House Senior Advisor, Michael Warren Joins Ripple Board of Directors

Mark Brennan
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Former White House Senior Advisor, Michael Warren Joins Ripple Board of Directors

Michael Warren joins Ripple to the Board of Directors.


 

Michael Warren, a former senior White House adviser under the Obama administration, joined Ripple as the company is fighting for U.S. crypto regulatory clarity.

Warren Albright was working as the Managing Director of Albright Stonebridge Group (ASG), part of Dentons Global Advisors, where he advised companies, investors, and stakeholders on managing the challenging business and regulatory environment in new and emerging markets.

Prior to joining the ASG, Warren served under the administration of two US presidents. Warren was a senior adviser to the White House Office Presidential Personnel during Barack Obama’s first term. In 2010, President Obama appointed Warren to the board of directors of Overseas Private Investment Corporation, where he served on the audit committee until the end of his term in 2019.

During the Clinton administration, he served as executive director of the National Economic Council in the White House and in the office of Secretary of the US Department of Labor.

Brad Garlinghouse, CEO, Ripple said:

“Michael possesses deep experience and an impressive track record counseling public and private sector leaders at the highest levels during critical moments of scale. At a time when Ripple looks toward its next phase following a record year of success in 2021, Michael’s unique expertise will be an invaluable resource guiding our next steps for accelerated company growth and broader adoption of Ripple’s offerings from customers around the world.”

HSBC Enters Metaverse With SandBox

Albert Brown
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HSBC Enters Metaverse With SandBox

HSBC Makes Its Way To Metaverse With SandBox.



British bank HSBC partners with The Sandbox that will provide opportunities for virtual communities across the world to engage with global financial services providers and sports communities in The Sandbox metaverse.

According to an announcement, one of the largest financial banks HSBC has acquired a plot of land in the virtual universe. The space will be used to interact with financial service providers and The Sandbox sports communities. In addition, the bank plans to attract fans of sports, e-sports, and games to its virtual space.

According to Suresh Balaji, director of marketing for HSBC Asia Pacific, the metaverse is how people will interact with Web3, the next generation of the Internet, in the future. HSBC sees great potential to create new experiences with modern technologies and platforms that provide great opportunities. With the help of a new partnership, the financial conglomerate wants to expand the range of services for existing customers and attract new ones.

Suresh Balaji said:

“Through our partnership with The Sandbox, we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers. We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive, and accessible.”

According to Sebastien Borget, COO of The Sandbox, the arrival of such large corporations in a relatively new industry signals widespread adoption of Web3.

Bitcoin, Gold And Other Assets Performance Since Russia Invaded Ukraine

Mark Brennan
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Bitcoin, Gold And Other Assets Performance Since Russia Invaded Ukraine

Bitcoin (BTC) Leads Gold to Soar Nearly 10% Amid Russia’s Ongoing Invasion.



Following Russia’s invasion of Ukraine, global financial instruments, including gold and bitcoin, have reacted differently since the commencement of the war on February 24, 2022. 

A closer look at the performance of the world’s financial assets by True Insights, an independent investment research platform, suggests that Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has been the best performing asset class so far. 

According to data shared today by Jeroen Blokland, the founder of True Insight, since the invasion started, Bitcoin is up 9.6% while gold, the popular yellow metal, is up 0.2%. 

Similarly, oil has so far gained 4.5% in value and S & P 500 has soared 2.9% so far. Unfortunately, emerging market equities were at the receiving end of the negative impact of the ongoing invasion as the asset class is down 7.5%. 

“Since February 24, the day #Russia invaded #Ukraine, these are the performances of selected asset classes, feel different, right? Reason: massive #volatility. Use a #framework,” Blokland tweeted adding an image of a chart showing the aforementioned assets’ performance. 

Fears Prompted by Russia’s Invasion

Russia’s ongoing invasion of Ukraine sparked mixed reactions across various social media platforms. Many people feared that the war could usher in World War III since Ukraine was almost close to joining NATO. 

These fears caused the value of the world’s financial instruments to react negatively, however, most of these assets have come out stronger with Bitcoin leading the way. 

The popular cryptocurrency fell below $35,000 and has since recovered most of its losses. At press time, Bitcoin is changing hands above $40,500

 

Bitmart To List ShibaDoge, Token Up 8%

Zabi
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Bitmart To List ShibaDoge, Token Up 8%

Bitmart is going to list Shiba Doge Token.



Bitmart, one of the most trusted cryptocurrency trading platforms, confirmed that they would add support for SHIBDOGE on their digital assets platform on March 16, 2022.

Launched on 15/03/2018, BitMart is a centralized exchange based in the Cayman Islands. It also has four offices in New York, China, Hong Kong, and Seoul. It supports spot trading, otc trading, and USD trading. Bitmart has a daily trading volume of $2.36B.

The listing on Bitmart Exchange means a lot for such a newly emerging canine-themed meme token. That’s why the SHIBDOGE is performing well today, and at the time of writing, the canine-themed meme token is trading at $0.000000000000000324, up 8.2% for the day.

The self-reported circulating supply of SHIBDOGE is over 194 sextillion tokens, as per data provided by CoinMarketCap. However, CMC hasn’t verified its market capitalization yet, as the token is new in the crypto space.

SHIBDOGE is a newly minted token, and as the name of the token suggests, it is on a mission to bring the SHIB and DOGE community together.

Looking at the current stats of the token, we find that the official Twitter handle of SHIBDOGE now has over 31K followers and 15,819 holders, as per data provided by Etherscan.io.

Besides Bitmart, the token is already listed on two popular centralized exchanges, XT.com and Hotbit.

Shiba Inu (SHIB) First Stablecoin Edges Closer to Launch

Mark Brennan
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Shiba Inu (SHIB) First Stablecoin Edges Closer to Launch

Shiba Inu (SHIB) Team is getting closer to launching their stable coin.



As part of efforts to prove it is not a memecoin, Shiba Inu (SHIB) is eagerly working relentlessly to release its first-ever stablecoin called SHI. 

The stablecoin, which was first mentioned in May 2021 by Shiba Inu founder Ryoshi in a blog post, will launch on both Shibarium layer 2 and the Ethereum blockchain. 

SHI, as described in the blog post, is a global stablecoin that will be used as a payment method and a store of value. 

Stablecoins are usually backed by a stable asset, especially a fiat currency. A closer look at the top three stablecoins in the global cryptocurrency ranking indicates that the digital currencies are backed by the United States Dollar on a 1:1 ratio. 

What’s New for SHI

Interestingly, the team behind Shiba Inu, who considers SHI as a stablecoin that preserves value said the cryptocurrency would be pegged to $0.01. 

Based on this, stablecoin developers need to hold reserves or collateral that backs the payment method, in a secured storage to protect its value from suffering the same issue of volatility that keeps rocking the cryptocurrency market.  

It is not clear how the Shiba Inu team plans on maintaining the stability of SHI. However, Gossip Shib, an enthusiast of the dog-themed project, disclosed on Twitter today that there are several available techniques to consider when developing the stablecoin. 

At the time of writing this line, there is no specific date on when the Shiba Inu team plans to officially launch the stablecoin, but the cryptocurrency project’s founder said: 

“Teams are working on some tests before we launch the official SHI.” 

Meanwhile, in contrast to the belief that LEASH would be the governance token of all Shiba Inu-related projects, it is still not determined that SHI will be included among the SHIB projects to be governed by LEASH. 

Ryoshi says: “The end goal is that SHI (operating both on ETH and the Shibarium) becomes a global stable currency that plebs across all countries are able to use as both a store of value and method of payment.”

 

Does Amazon Have a Big Part to Play in the Race to Make Crypto Mainstream?

Mark Brennan
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Does Amazon Have a Big Part to Play in the Race to Make Crypto Mainstream?

It was reported in mid-2021 that Amazon was preparing to make some massive moves in the crypto market, but nothing has come to fruition yet. Bitcoin and altcoin enthusiasts will be waiting with bated breath over Jeff Bezos’s plans, however, as the behemoth eCommerce company could potentially have the power to push crypto right into the mainstream.

Elon Musk has already shown how the world’s richest people and companies can affect the crypto markets. Will an official announcement about Amazon backing crypto cause another major spike?

Amazon is Still One of the World’s Biggest Investment Prospects

Amazon may be one of the richest companies in the world with revenues of more than $469.8 billion, but it is still expanding. Indeed, it’s still seen as one of the best investment prospects as it has a market cap of $1.5 trillion. Amazon stocks are currently offering higher gains than crypto, and earnings per share have gone from $14.09 to $27.25 in the last year.

Crypto enthusiasts who spend a lot of time trading the various coins are likely to be interested in getting into investing in Amazon, but don’t know how to buy Amazon stock. This is simple nowadays, as there are apps out there that help people buy and sell in a straightforward manner, as well as trade its stock with zero commission. The talk of Amazon buying into crypto could influence people to invest in both the eCommerce company and Bitcoin.

Company Gearing up for Crypto

News leaked from an insider at Amazon last year that the company was preparing to start getting into the crypto game. It brought in new staff members in several key positions and aimed to attract some of the biggest tech developers in the crypto space. According to Retail Customer Experience.com, the job posting stated that successful applicants would “own the vision and strategy for Amazon’s Digital Currency and Blockchain strategy and product roadmap.”

This news got a lot of people talking, and speculation emerged that Amazon was planning on releasing its own native cryptocurrency. Now, some publications such as Marca believe that 2022 will be the year that the new Amazon token hits the market. If this comes to pass, it could be huge for the crypto market. There will be a flurry of investment in the new coin, but it will also push up the price of Bitcoin, which always rises with new developments.

Huge Firms Have a Massive Impact on the Crypto Market

Bitcoin has taken its time to get into the mainstream because it hasn’t had enough backing from the biggest companies in the world. However, it seems that things are beginning to change. When Tesla bought 43,200 bitcoins in early 2021, it had a seismic impact on the market and led to the greatest bull run in the coin’s history. It may simply take a few other huge companies like Amazon and Apple to go in on cryptocurrency for the market to spike again.

The last few months have been a dark time for crypto enthusiasts compared to the glory days of 2021. However, the market could go bullish again soon if Amazon starts making moves.

ADA Data Shows Uptrend In Every Category As Traders’ Expectation of Rally for Cardano Fuels Widespread Adoption

Mark Brennan
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ADA Data Shows Uptrend In Every Category As Traders’ Expectation of Rally for Cardano Fuels Widespread Adoption

Cardano Data Shows Uptrends In Every Category.



Despite the underperformance of Cardano (ADA), its native cryptocurrency adoption has recorded a meteoric rise in recent times, as more enthusiasts still consider the asset class as the best buy in 2022. 

Cardano addresses by holdings and balances by holdings in different categories have grown significantly over the last 30 days. 

Growing Cardano Adoption

Data shared by Dan Gambardello, the founder of Crypto Capital Venture (CCV), who called ADA the biggest sleeping giant, showed that Cardano addresses holding between 0 and 1 billion ADA have been increasing at all levels in the past month. 

According to the data, Cardano’s addresses with 0 to 10 ADA rose 6.7%, 1,000 to 10,000 ADA holdings is up 8.73%, while addresses that own between 1 million to 10 million ADA, 10 million to 100 million ADA, and 100 million to 1 billion ADA are up 7.3%, 12.62%, and 18.18%, respectively. 

Similarly, balance by holding among addresses with 100,000 to 1 million ADA, 1 million to 10 million ADA, 10 million to 100 million ADA, and 100 million to 1 billion ADA have also surged 13.31%, 7.34%, 10.53%, and 22.3%, respectively. 

Traders Are Optimistic about ADA

Cardano’s growing adoption at all levels suggests holders’ optimism that ADA will definitely surge in value when the market stabilizes. 

Recall that ADA, which opened the year around $1.3, is down 38.1% and is currently changing hands at $0.81, according to Coingecko data. 

Traders still believe Cardano will embark on a massive rally this year, as the Cardano team lines up several projects that will be rolled out this year. 

At the top of Cardano’s list of upgrades is to better enhance the performance of its smart contract functionality, which made its debut on the network last year. 

Support for smart contracts on Cardano led to the launch of six decentralized exchanges on the blockchain, with more trading platforms currently under development and expected to launch this year. 

Cardano TVL Surpass $200 Million

So far, user activity across these decentralized protocols has been impressive, as the total value locked (TVL) across these platforms has surged more than 194x since the beginning of the year. 

At press time, Cardano TVL is valued at $207.19 million, with Gambardello teasing enthusiasts to expect more growth, saying: 

“Cardano TVL (Total Value Locked) hits $200 million. Next stop…$2 billion?.”

OVR and Zlatan Ibrahimovic Announce New Exclusive NFT line

Mark Brennan
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OVR and Zlatan Ibrahimovic Announce New Exclusive NFT line

Udine, March 2022 –  OVR, a decentralized Metaverse platform curating geolocalized AR/VR experiences, and Zlatan Ibrahimovic, Swedish soccer star, announce a new partnership bringing 11 NFTs to the OVR platform, inspired by Ibrahimovic’s book “Adrenalina. My untold stories.”

The 11 NFTs were inspired by some of the “commandments” included in Zlatan Ibrahimović’s recent best-seller, “Adrenaline: My Untold Stories,” authored in collaboration with Luigi Garlando of Gazzetta Dello Sport, are now available on the ovr.ai metaverse.

The project, created by Corriere Della Sera in partnership with ArtsLife, Wrong Theory, ArtN, and G-Lor, as well as Cairo Editore, which published the book, debuted at the Milan Triennale on Sunday, February 27th. The artworks will be auctioned off on the Nifty Gateway marketplace, a popular online digital art auction platform for non-fungible tokens, between March 22nd and April 19th.

Those who are interested may also instantly view the exhibition by scanning the QRcode via their smartphones or downloading OVR’s app from Google Play or Apple Store.

Beyond the field

This time, the Swedish star’s latest endeavour extends beyond football grounds and bookstores as the AC Milan striker joins the metaverse courtesy of the world’s first digital art collection inspired by a book and registered as an NFT. The platform used to host it is OVR (Over the Reality), and the exhibition is already available on ovr.ai in the Wrong Theory Art District.

The series, like the footballer’s jersey number, consists of 11 distinct pieces produced by 11 prominent artists from the painting community and beyond. In addition to well-known practitioners such as Giovanni Frangi and Federico Guida, prominent artists from a variety of mediums such as Giuseppe Veneziano, Giovanni Motta and Ivan Tresoldi are also involved.

To access the exhibition directly, you can frame the QRcode from your smartphone or download OVR’s app on Google Play or Apple Store.

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