Will Russia invade? US intelligence says yes, but the true answer may be unclear. Meanwhile, Canadian PM Trudeau is curtailing personal freedoms in the name of “terrorism”, and Biden ignores the giant elephant in the room.
What does it all mean for crypto?
Coffee. Banter. Go!
- Ukraine invasion?
- Trudeau’s award-worthy crypto ad.
- Market update (market rebounding?).
- Major crypto news (miners/stakers to avoid turmoil, Heather Morgan released on bail).
- Notable updates (Ethereum inflows, Curve on Polkadot).
Ukraine invasion?
It’s rumored CIA officials met with President Zelensky to forewarn the president of a preceding invasion but refused to share gathered intelligence. Afterward, President Zelensky of Ukraine addressed the nation and just about declared Wednesday, Feb 16th, the supposed “day of the invasion”, as a national holiday.
Shortly afterwards, the presidential aid unclouded the situation by emphasizing the irony of the public address.
PM Trudeau declares Canada’s first-ever “Emergencies Act.”
Canadian PM Trudeau just topped all the great crypto-related Super Bowl commercials by releasing an amazing ad for crypto by authorizing the “Emergencies Act” to freeze all payments (crypto included) received by the Tucker Protest in Ottawa.
Whether the trucker protest is justified or not, questions arise whether the far-reaching hand of the government should possess the right to suspend civil liberties.
Talking of crypto ads, any idea of what US President Biden had to say about the Super Bowl ads?
Really, Mr. President? Maybe he was sleeping for most of the game, but that’s one way to tiptoe past the giant sleeping elephant in the room named crypto.
Are the crypto markets worried? Not so much; let’s take a look.
Market update
Bitcoin (BTC) rebounded after four days of downward action. Notably, volume increased as traders bought the 42k support and raised optimism of a continued overall uptrend. Bitcoin closed the day at 43.6k, up 2.56%.
https://www.tradingview.com/chart/v7j9tiND/
Avalanche (AVAX), THORChain (RUNE), Curve (CRV), Terra (LUNA), Solana (SOL), and Cosmos (ATOM) all rose today as investors re-enter the market through quality projects.
Notable gainers (24H)
- Hedera (HBAR): $0.24 +7%
- Curve DAO (CRV): $2.90 +7%
- Avalanche (AVAX): $81.89 +5.3%
- THORChain (RUNE): $4.11 +5%
- Terra (LUNA): $53.93 +4.5%
- Anchor Pro. (ANC): $2.13 +16%
- Render (RNDR): $2.84 +17%
- Metis (METIS): $137.17 +17.5%
- Beefy.Finance (BIFI): $2.51 +13%
Bitcoin Fear and Greed Index: 46 Neutral (-4)
Bitcoin “Google” Trends: 32 (-2)
Bitcoin “Crypto” Trends: 30
Major crypto news
- The US Treasury Department has sent a letter to US senators excluding brokers with crypto miners and stakers from reporting client transactions to the Internal Revenue Service (IRS) . Quiet news, but you can hear the whole of the crypto community sigh in relief.
- Alleged Bitfinex hacker/money launderer/rapper “Razzlekhan,” also known as Heather Morgan, has been released on bail by a federal judge’s order which keeps her partner Ilya Lichtenstein in custody for fear of the couple fleeing the country.
Notable updates
- Curve Finance (CRV) launched on the Moonbeam network (GLMR). Keep an eye on the Polkadot parachains. Things are beginning to heat up!
- Ethereum sees positive inflows for the first time in 9 weeks! Could this be a market bottom signal?
Banter’s take
The crypto markets aren’t buying the Ukraine invasion fear uncertainty and doubt (FUD), and a few signs of bottoming are materializing. We dare not proclaim an invasion will be avoided, but there grows ever-increasing signs of governments manipulating the rhetoric. Meanwhile, the Prime Minister of Canada helped us all by spearheading the finest crypto advertisement of the year. Oddly, the fire that is crypto continues to be fanned by those who want it extinguished.
Thanks for reading the Morning Brew!
