BitYard Weekly Roundup (2022/03/22 — 2022/03/28)

Top News Released:

1) Russia’s Energy Minister Calls For Legalization Of Crypto Mining

Regulatory uncertainty over crypto mining in Russia needs to be resolved as soon as possible, a Russian energy minister said recently. Deputy Minister of Energy Evgeny Grabchak called on the government to legalize the space, citing extreme economic pressure on the country.

Grabchak’s comments come in the wake of some of the strictest economic sanctions seen yet against Russia, over its invasion of Ukraine. The sanctions have effectively blocked Russia from the western financial system.

2) US Senators Working on Broad-Based Crypto Regulation

Two U.S. senators are working on a bipartisan, broad-based regulatory framework for cryptocurrency. “The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry,” said one of the senators.

U.S. Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are working together on “a broad-based regulatory framework” for how the crypto industry should be regulated, they explained Thursday at a Politico Live event.

Senator Gillibrand described:

The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry.

“Some will be regulated under the CFTC [Commodity Futures Trading Commission], some parts will be regulated under the SEC [Securities and Exchange Commission], some we will need to look at more broadly and we intend to have a regulatory commission that can look at these issues of first impression and make judgments and guidance,” she added.

3) Global Crypto Economy Holds Above the $2 Trillion Zone for 5 Consecutive Days

The crypto economy has managed to remain above the $2 trillion mark during the last five days since March 22. Currently, the global cryptocurrency market capitalization is 1.3% higher during the last 24 hours, as the valuation stands at $2.1 trillion today. Furthermore, the price of bitcoin jumped over the $46K zone on Sunday as well capturing an $870 billion market cap.

Digital currencies have gained in value during the last seven days and for five consecutive days, the crypto economy’s total value has held above $2 trillion. The last time the crypto economy was above the $2 trillion zone was during the first week of March.

4) Queen of Pop Becomes a Metaverse Material Girl — Madonna Buys Bored Ape for $564K

The ‘Queen of Pop,’ Madonna has revealed she has “entered the metaverse” after she acquired the non-fungible token (NFT) collectible Bored Ape #4988. According to onchain data, Madonna’s Bored Ape #4988 was purchased for 180 ether or $564K at the time of settlement.

Madonna Says She ‘Finally Entered the Metaverse’ Madonna is the latest celebrity to join the Bored Ape Yacht Club (BAYC) NFT collectors. The singer-songwriter and actress revealed the purchase on March 25, 2022, via the pop star’s Instagram page.

“I finally entered the Metaverse… My very own Ape! What should I name her? Thanks [Moonpay]. We all need protection from Evil Eye,” Madonna told her Instagram followers.

Top Gainers & Losers (7 Days)

Gainers:

• WAVES (+50.12%)

• SAITAMA (+45.25%)

• BURP (+39.50%)

• GMT (+32.30%)

Losers:

• RADIO CACA (-9.96%)

• POLKABRIDGE (-9.57%)

• HAPI PROTOCOL (-9.28%)

• IZI (-8.49%)

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