Coinan, the world's leading cryptocurrency exchange, opened a cryptocurrency crowdfunding campaign. He also announced that he would donate $10 million to Ukraine during the Russian invasion. In the announcement, the exchange stated.
"Donations will be allocated to key intergovernmental organizations and non-profit organizations already on the ground. including UNICEF, UNHCR, UNHCHR, iSans and people in need. Help support displaced children and families in Ukraine and its neighboring countries."
At the time of writing, Cryptocurrency has also created a groundbreaking cryptocurrency crowdfunding site, which has received $5.9 million in donations. In addition to the major players, NGOs and private foundations are also receiving donations from the public.
Similarly, the Ukrainian government on Saturday unveiled the addresses of two digital currency wallets collecting donations in bitcoin, ethereum and Tether, which have now received more than $12 million from taxpayers. Blockchain analytics firm Elliptic revealed that one contributor donated $1.86 million to the wallet address associated with the Ukrainian government.
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Ukraine's Deputy PM Asks Cryptocurrency Exchanges to Freeze Russian Accounts, but Cryptocurrency and Kraken Refuse
Ukraine's Deputy Prime Minister Mikhailo Fedorov has called on cryptocurrency exchanges to freeze the accounts of users linked to Russia and Belarus. In his request on Sunday, the minister tweeted, "It is crucial to freeze not only addresses associated with Russian and Belarusian politicians. If not also undermine ordinary users.
I ask all major cryptocurrency exchanges to block the addresses of Russian users. It is crucial to freeze not only addresses associated with Russian and Belarusian politicians, but also those of regular users.– Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022
The request comes a day after Ukrainian politicians offered rewards to those who found cryptocurrency addresses linked to Russian and Belarusian politicians. "War crimes must be prosecuted and punished," Fedorov tweeted.
Cryptocurrency exchanges Cryptocurrency and Kraken have rejected the minister's request. Although Cryptocurrency is open to cryptocurrency crowdfunding to help the country, a spokesperson for the exchange told CNBC that
"We will not unilaterally freeze the accounts of millions of innocent users. "Cryptocurrencies are designed to provide greater financial freedom for people around the world. Unilaterally deciding to ban people from using your cryptocurrency would go against the very reason cryptocurrencies exist."
For his part, Kraken CEO Jesse Powell issued a similar statement. Who responded that the exchange can not freeze accounts "without a legal requirement".
Analysts Predict Bitcoin Price Will Fall to $10,000
Stifel's Barry Bannister recently predicted that bitcoin could fall 76% to $10,000 by 2023. In keeping with the headwinds Bitcoin faces in terms of its cryptocurrency outlook, Gareth Soloway, president and CFO of InTheMoneyStocks.com, has also set his high-end target at $20,000 in Bitcoin.
"Bitcoin is a risky asset and as such is considered a tech stock, so you're likely to see more downside. I would start nibbling on long-term entries in bitcoin. When you hit 20K, just keep buying."
Korea to Invest $187 Million in National Metaverse Project
South Korea's Ministry of Science and ICT is seeking to invest more than 223.7 billion won ($187 million) to develop a virtual world ecosystem for the country. The ministry made the announcement on Sunday.
The government department said it will use the funds to create a decentralized creator economy, support professionals and encourage companies working on AR/VR development.
The country has increased its involvement in the metaverse sector, recently announcing plans to train 40,000 professionals and 220 companies specializing in metaverse technology. All this with the aim of becoming the fifth largest metaverse market by 2026. At the time, the Ministry of Science and ICT said it would apply the technology to various fields such as Korean pop music, tourism, education and the arts.
A press release describing the $187 million investment stated.
"The Ministry of Science and ICT, through the 'New Industry Leadership Strategy for Expanded Virtual Worlds', is focused on creating a sustainable expanded virtual world ecosystem based on public-private partnerships. Moreover, it promotes inter-company collaboration, technology development and regulatory innovation, thereby enabling domestic companies to compete with global companies."