Market BuzzBitcoin trading above Rs 31.69 lakh
Cryptocurrencies traded in the red early on April 23. The global crypto market cap is $1.84 trillion, a 1.82 percent decrease over the last day. The total crypto market volume over the last 24 hours is $80.67 billion, which makes a 24.14 percent decrease. The total volume in DeFi is currently $10.87 billion, 13.47 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $67.69 billion, which is 83.92 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently Rs 31.69 lakh, with a dominance of 40.79 percent. This was a 0.29 percent decrease over the day. Read full here
Big StoryHow crypto giant Binance built ties to a Russian FSB-linked agency
In April 2021, Russia’s financial intelligence unit met in Moscow with the regional head of Binance, the world’s largest crypto exchange. The Russians wanted Binance to agree to hand over client data, including names and addresses, to help them fight crime, according to text messages the company official sent to a business associate. At the time, the agency, known as Rosfinmonitoring or Rosfin, was seeking to trace millions of dollars in bitcoin raised by jailed Russian opposition leader Alexei Navalny, a person familiar with the matter said. Navalny, whose network Rosfinmonitoring added that month to a list of terrorist organisations, said the donations were used to finance efforts to expose corruption inside President Vladimir Putin’s government. Binance’s head of Eastern Europe and Russia, Gleb Kostarev, consented to Rosfin’s request to agree to share client data, the messages showed. He told the business associate that he didn’t have “much of a choice” in the matter. Take a look
ExplainedHow cryptocurrencies work (and how they don’t)
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The first and most popular cryptocurrency, bitcoin, launched more than a decade ago. Yet for all the relentless buzz, relatively few are well versed in cryptocurrencies or the blockchain, the technology on which they’re built. Despite the evangelizing by and rising profile of some investors, a 2021 poll by Pew Research Center found that just 16 percent of Americans said they have ever invested in cryptocurrencies. If you’re not among those percentages, you might view these currencies with skepticism and may have avoided trying to understand the lingo or the technology. But as cryptocurrencies and related technologies reach into politics, intertwine with the larger economy and impact the environment, everyone could use a sense of what they are, how they work and their pitfalls and potential. Read more here
Brand StoryCrypto Learn NFTs and brands: A match made in heaven (MC PRO)
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NFTs have rapidly become integral to the crypto ecosystem and our digital consciousness since they went viral in 2021. There have been many unintended effects of this explosive spread – mostly net positives and a few negatives. Large brands —the likes of Disney, Lamborghini, Adidas, Louis Vuitton— have taken to this new application of existing technology at an unprecedented rate. NFTs and the metaverse are a powerful tool for any brand trying to gain recognition. Read more here
AnalysisDigital cash does not a digital nation make
Between the pandemic, the crude price super-spike and Vladimir Putin, the 2022-23 Budget has pretty much been consigned to the archives already. But at the time that Finance Minister Nirmala Sitharaman revealed her blueprint for not just the coming year but the next quarter of a century, which she dubbed as the “amrit kaal” – from India at 75 to India at 100, it was seen in some quarters as laying out the roadmap for India’s digital future. But, while the government has been laser focused on the overall Ease of Doing Business rankings, digital business has received only policy attention of the unwelcome kind. Read more here
