....The best thing for continued dollar hegemony is crypto. There isn’t a viable alternative, which makes it an effective weapon for sanctions...Could sanctions accelerate the focus on crypto's potential? theSamReynolds and JPRubin23 report
Bitcoin soared more than 15% at one point, even as Russia escalated its war against Ukraine, pounding the country's capital Kyiv and its second-largest city, Kharkiv, with rocket fire. Ether rose over 12% and other major cryptos were firmly in the green.
Earlier in the day, Ukraine Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov asked"all major crypto exchanges to block addresses of Russian users." Europe and the U.S. have banned certain Russian banks from the Society for Worldwide Interbank Financial Telecommunication , the messaging network supporting global financial transactions. The move has blocked these institutions from conducting any interbank transactions with non-Russian entities.
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