Kraken is working with law enforcement to make sure the accounts of sanctioned individuals don’t fall through the cracks, according to CEO Jesse Powell. He also notably expressed that total bans are unfair to average Russians, who might not support the country’s invasion of Ukraine.
USDC stablecoin issuer Circle has aligned with recent sanctions by temporarily disabled all fiat payments from accounts located in Russia, including card payments from cards issued in Russia.
Three US-based payment giants, PayPal, Visa, and Mastercard have announced they are discontinuing their services for Russia in solidarity with the international community. Credit cards issued in Russia will no longer work outside the country, and cards issued outside Russia won’t work in the country.
Terra, the fast-growing DeFi tool kit built on Cosmos, is now officially the second-largest ecosystem in decentralized finance. Ethereum still dominates over 50% of the entire DeFi market, at about $111 billion TVL.
Shake Shack is introducing a trial of bitcoin rewards for customers using Cash App’s Cash Card from Block. As a cashback-style system, 15% of purchases will be paid back to users in BTC through mid-March.
Traders around the world are prepping for another volatile week as Russia’s war in Ukraine continues to upend financial markets. The U.S. dollar will be in focus after appetite for safer assets lifted the currency to its highest level since July 2020 on Friday. Volatility has soared as investors attempt to digest the severity and time horizon of the conflict.
The recent rout in EV stocks has left Tesla, the world’s largest EV maker, well ahead of its upstart challengers. Despite rising oil prices making EVs more attractive, the gap widened last week when Rivian and Lucid both disclosed supply-chain disruptions.
The average price for a gallon of gas in the U.S. went above $4 a gallon in the U.S for only the second time ever this weekend. The last time this happened was in 2008. Premium fuel in Los Angeles reached $7.25 per gallon.
China’s leaders have set a relatively high bar with a goal of 5.5% GDP growth this year. The target is aggressive for an economy facing a litany of challenges at home and abroad, potentially leading to more aggressive stimulus measures in the coming months.