Hello everyone and welcome to Stack weekly. We've got news, data, and fresh content to share. Let's dive in.
Fresh Content From the Team
Weekly Projects to Watch
You're viewing the limited free edition. Upgrade to Premium for just $25/month to view all data & more.
Top risers by Coinrank
- 🔒 Upgrade to view
- Celsius Network ($CEL) ⬆️ 2%
- Klaytn ($KLAY) ⬆️ 2%
- THORChain ($RUNE) ⬆️ 2%
- The Graph ($GRT) ⬆️ 1%
Top risers by Dev Rank
- 🔒 Upgrade to view
- NEO ($NEO) ⬆️ 13%
- Klaytn ($KLAY) ⬆️ 10%
- Stacks ($STX) ⬆️ 8%
- TRON ($TRX) ⬆️ 4%
Top risers by Social Rank
- 🔒 Upgrade to view
- OMG Network ($OMG) ⬆️ 1%
- JUNO ($JUNO) ⬆️ 1%
- Marinade staked SOL ($MSOL) ⬆️ 1%
- Anchor Protocol ($ANC) ⬆️ 0.4%
Top small cap risers by Coinrank
- 🔒 Upgrade to view
- SW DAO ($SWD) ⬆️ 166%
- Mover ($MOVE) ⬆️ 67%
- Juggernaut ($JGN) ⬆️ 66%
- Qwertycoin ($QWC) ⬆️ 62%
Top News This Week
The Russia and Ukraine Crypto Collisions
Bitcoin sanctions could be next for Russia. However, most Russians will not really care. This is due to the fact that Bitcoin is decentralized and borderless, which means that it does not respect any national boundaries.
Ukraine asked cryptocurrency exchanges to block users from Russia, where the Deputy Prime Minister, Minister of Digital Transformation of Ukraine, Mykhailo Fedorov, sent the request.
Binance, Coinbase, and Kraken refused to freeze Russian crypto accounts and rejected the request. However, Binance did say that it would not accept cards from sanctioned Russian banks.
Interestingly, Kraken CEO Jesse Powell fired back at Ukraine’s request to freeze Russian crypto, claiming that Step 1 would be to freeze all U.S. accounts.
Hilary Clinton criticized the U.S. government for not forcing cryptocurrency exchanges to block all Russian users.
Note that Animoca Brands broke with crypto peers by cutting off Russian users in response to the invasion of Ukraine. Treasury’s Janet Yellen urged to ensure that crypto isn’t Russia sanctions workaround. The Russian ban was also in focus as MetaMask and OpenSea abided by the U.S. sanctions.
After all of this, Russians ended up paying up to $20,000 above the market rate to buy Bitcoin, which was dubbed the “matreshka premium." This is due to the fact that the Rube has sunk to record lows against the dollar, with 1 ruble being worth $0.01.
Crypto Donations to Ukraine
The world’s largest cryptocurrency exchange, Binance, has committed $10 million to Ukraine through an announcement on February 27, 2022.
Additionally, the Polkadot founder, Gavin Wood, said that he would donate $5 million if the Ukrainian Government provided Polkadot’s address.
Ukraine also expanded crypt donations to accept Dogecoin (DOGE) as a cryptocurrency. In other words, it said that it would accept the token and ended up tagging the billionaire and DOGE promoted Elon Musk in the Twitter announcement.
However, after Raising $47 million in Bitcoin, Dogecoin, and Ether donations, Ukraine announced to reward its supporters with a special "airdrop," even confirming the Airdrop for March 3. This didn’t happen, as Mykhailo Fedorov posted on Twitter, saying that they were canceling the airdrop.
Non-Fungible Token (NFT) Developments
Parler aimed to attract a broader crypto audience to their platform through the usage of NFTs. The first drop on the Parler-powered NFT marketplace, DeepRedSky, featured Donald Trump.
An NFT of the Ukrainian flag, which was launched by Pussy Riot members as a means of raising funds for the war-torn country, sold for $6.75 million.
The South African cryptocurrency exchange known as VALR managed to raise $50 million in a Series B equity funding round which made it the largest-ever funding for the African crypto exchange.
South Korea's Ministry of ICT, Science, and Future Planning has pledged 223.7 billion Korean won, which is $186.7 million, as a means of creating a broad metaverse ecosystem and supporting the growth of digital content and corporate growth throughout the country.
FTX Pledged up to $1 billion for Philanthropic funds as a means of "Improving Humanity."
The derivatives exchange FTX announced that they would invest at least $100 million in projects that will help humanity throughout this year alone.
The "Future Fund," which is part of FTX's philanthropic arm, The FTX Foundation, will invest at least $100 million throughout the year, however, it has the potential to invest $1 billion if it sees enough projects that it likes. FTX is looking for projects that can safely advance A.I., minimize the risk of a biochemical disaster and even end global poverty, among other things.
Thanks for reading,
The Stack Team
You've been reading the limited free edition. Upgrade to Premium for just $25/month to view all data & more.
|