Bitcoin Soars 14% And Ukraine Asks Binance To Block Russian Users

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Last Updated on 1 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 rebounded massively in the past 24 hours, surging by 18% at a certain point. At the time of writing on Tuesday morning, the world’s biggest cryptocurrency trades at $43.3k (up 14%) and all talk of a dive to $30k of about a week ago seems long forgotten.

Meanwhile the importance of crypto during a global crisis is once again shown now that the Ukrainian government asks major digital currency exchanges to block Russian users.

Major altcoins like Ethereum, Cardano and Terra also saw double digit percentage gains in what was a major rebound for crypto.

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Ukraine’s Minister of Digital Transformation Mykhailo Fedorov has been in the news in the past few days for daring to ask the help of Elon Musk, Mark Zuckerberg and Changpeng Zhao.

Last week he pleaded with Tesla CEO Musk to allow his Starlink satellites to be placed over Ukraine’s territory, so that the country could remain assured of internet access.

Yesterday he launched an appeal to Meta (formerly Facebook) CEO Mark Zuckerberg to block Instagram and Facebook in Russia, to which Nick Clegg, the former British Vice-Prime Minister and now the Facebook spokesperson, replied in part.

And then he sounded the alarm over Russian crypto accounts, asking, among others, Binance CEO Changpeng Zhao to take the decision.

I’m asking all major crypto exchanges to block addresses of Russian users. It’s crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.

It comes only a day after Fedorov asked for information about crypto wallets linked to Russian and Belarusian politicians.