As BTC-ECHO already reported, an airdrop by the Ukrainian government should occur on March 3. This step responded to the country’s high volume of crypto donations. However, vice-Prime Minister and Digital Minister Mykhailo Fedorov announced that the government had cancelled the plan for an airdrop. The politician also said that the government is instead working on “NFTs supporting the Ukrainian armed forces”. Visit the official bitql for more information on bitcoin trading.
South Korean crypto exchange blocks Russian accounts.
South Korean crypto exchange “Gopax” freezes Russian accounts and blocks Russian IP addresses on its platform. The stock exchange is thus aligning its actions with the requirements of the US Authority. It is for the Control of Foreign Assets and the European Union. Other exchanges such as Kraken have not yet complied with these sanctions. As BTC-ECHO reported, Binance set up its task force but did not fully accept the sanctions. Gopax is a South Korean centralized trading platform that went live in 2016 and handled nearly $4 billion in daily trading volume.
Ukraine plans airdrop for crypto donations.
As the volume of crypto donations to Ukraine continues to increase, the country’s official Twitter account announced that it was planning an airdrop in response. There should be more information on this today, March 3, at 5:00 p.m. CET. Airdrops are typically the distribution of digital assets, such as tokens or NFTs, often for free. In addition, the Ukrainian government announced that Vice Prime Minister and Digital Minister Mykhailo Fedorov would take over communication related to crypto donations during the Ukraine war.
Ukrainian DAO makes donations possible in Solana.
Aid for Ukraine also makes crypto donations possible in Solana (SOL). This response emerges from a press release available to BTC-ECHO. The DAO is the product of a collaboration between the Ministry of Digital Transformation of Ukraine, the Ukrainian Web3 company Everstake and Solana. So far, it has raised about $1.4 million in SOL. The funds will be used to buy ammunition and other basic needs things of households.
Seven Russian banks were banned from SWIFT.
The EU has omitted seven Russian financial institutes from the SWIFT international payment system due to the war in Ukraine. The European Council announced this a few minutes ago via Twitter. The official press statement states that the sanctions will be lifted. Russia’s most significant economical establishment, Sberbank, is spared the SWIFT ban. As the Reuters news agency reports, the bank is said to have withdrawn from the European market on the orders of the Russian central bank. Earlier, the ECB had closed the European branch of Sberbank Europe.
Uniswap makes altcoin donations possible for Ukraine
Uniswap launches an altcoin fundraising platform for Ukraine. This News was announced by the decentralized exchange on Tuesday, March 1, via Twitter. The interface converts ERC-20 tokens such as Aave, Chain Link or MANA into Ether (ETH). The platform then sends the coins to the Ukrainian government’s official crypto wallet in individual transactions.
Crypto donations to Ukraine rise to $37 million
Crypto donations to the Ukrainian government, military, and charities have surged $37 million. Among the recipients is the Reserve Fund of Ukraine of the Ukrainian crypto exchange Kuna, the NGO Come Back Alive and the Ukrainian government’s donation address.
Because of sanctions: Putin suspends foreign payments
As the Armenian news agency “News.am” reports, Vladimir Putin has issued a decree temporarily suspending foreign payments. As of Wednesday, March 2, overseas investors can no longer withdraw investments over $10,000. The Russian President reacts to the latest sanctions due to the ongoing conflict. Meanwhile, fear is growing in the “West” that Russia could circumvent sanctions using cryptocurrencies.
Bitcoin is worth more than rubles.Western economic sanctions against Russia pushed the ruble to a record low on Monday, February 28. As a result, the Russian central bank raised interest rates from 10.5 to 20 per cent. Due to the drastic devaluation, the entire Bitcoin deposit is worth more than the Russian national currency. The Bitcoin market cap is currently at $824 billion with the recent price gains. According to the Russian Topmost bank, the money supply of the ruble on February 1 was around 629 billion US dollars. Compared to all fiat currencies, the Bitcoin market cap would now rank 14th, according to Coinmarketcap.