Bitcoin Ranges, Ethereum Founder Blasts Kremlin Again And Switzerland Freezes Russian Crypto Assets

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Last Updated on 6 March 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Bitcoin has, unlike global stock markets, performed relatively well ever since Russia invaded Ukraine. Ethereum founder Vitalik Buterin has long been criticized for not being vocal enough on social media. The invasion of Ukraine has apparently changed all that. Meanwhile Switzerland, normally the global example of neutrality, has promised it would step up efforts to freeze crypto assets belonging to dodgy Russians.

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Ranging near $40k

At the time of writing this morning, Bitcoin traded at $39,200 and this means the world’s biggest crypto coin has for two months now, to quote Scott Melker, seen ‘wicks in every direction, minimal structure and almost no clarity.’

The range in which it trades is $35k to $45k. We’re all still waiting to see what’s coming next.

Buterin goes political

The first time that Vitalik Buterin showed his political side was last year. As the founders of Shiba Inu wanted a believable shareholder of sorts, they donated billions of their coins to Vitalik Buterin for free. Vitalik then gave it away to an Indian fund to help hospitals help deal with the second Covid wave.

This time round, as his native Russia invaded Ukraine, the Ethereum founder has once again shown which side he’s on. In the past week, Vitalik retweeted many stories which showed the harshness of the Kremlin to anyone opposing them and entered discussions on social media with anyone demanding his opinion on the war.

Swiss neutrality breached

In the past week since EU President Ursula Von der Leyen announced the very tough economic sanctions against Russia, Switzerland has given up its usually neutral stance and has joined the EU in imposing harsh measures on Russian Oligarchs. As such, Swiss Finance Minister Guy Parmelin declared that 223 Russians, most of them close associates to President Vladimir Putin, had their bank accounts and physical assets frozen by Switzerland. As an additional penalty beyond EU sanctions, they will now also target the crypto accounts of those persons.

An official of the Swiss finance ministry declared:

If someone holds their crypto key themselves then, wherever they are, it’s going to be virtually impossible to identify them. But if they are using crypto services—funds, exchanges, and so on—these service points we can target.