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US Treasury Secretary Says She's Seen No Significant Use of Crypto to Evade Sanctions on Russians

Daily Market Wrap

  • Crypto market cap: 2.02 trillion, up 1.67%

  • BTC price stands at USD 43,604, up 0.84%

  • ETH price stands at USD 3,250, up 2.06%

  • Top gainer: Near Protocol (NEAR), up 14.44%

  • Top loser: Decred (DCR), down 3.77%

News of the Day

United States Treasury Secretary Janet Yellen has not seen that significant use of cryptocurrency is being used to evade sanctions.

Why it matters:

  • Janet Yellen, U.S. Treasury Secretary, assured the committee on Wednesday that It is hard to use crypto to evade sanctions

  • Yellen further added that any large transactions through cryptocurrency would be made note of since blockchains are being “regularly examined”

  • Yellen also expressed concern about the possibility that cryptocurrency could be used as a tool to evade sanctions and they are carefully monitoring to make sure that doesn’t happen

Crypto daily spotlight

Juno Blockchain, Cosmos’s Layer-1 network, plans to restart Thursday after it remained offline for over 24 hours due to a malicious smart contract attack.

Brief introduction: Juno is a Cosmos-based blockchain that is an interoperable smart contract network and a zone part of the Cosmos Network. This makes the smart contracts fully deployable on any IBC (inter-blockchain communication) connected blockchain with being highly scalable, permissionless, and cheap fees.

Why it matters:

  • There are over 50 dapps, contracts, and tools built on Juno network suffering the over 24-hour blockchain halt

  • The Juno core development team says no user funds have been impacted in the course of the network shutdown

  • This is the second challenge for Juno after the controversial governance vote of removing tokens from a “whale”. JUNO’s price dropped more than 5% after the shutdown

Daily sector tracker

Daily News Roundup

  1. HSBC Launches Metaverse Fund in Asia for High Net Worth Individuals and Accredited Investors https://bit.ly/3Jj0R8P

  2. SEC Grants the Approval for Teucrium's Bitcoin Futures ETF https://bit.ly/3KlkyxN

  3. VaynerSports Pass NFTs ARE Sold Out https://bit.ly/3JjoVbA

  4. El Salvador President Cancelled His Planned Participation in the Bitcoin 2022 Conference in Miami https://bit.ly/3x7MNwn

  5. Twitter Founder Jack Dorsey's First Tweet NFT Listed on OpenSea for Sale at 14,969 ETH https://bloom.bg/3O4FjQS

About Aspen Digital

Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

For more information, please visit https://www.aspendigital.co/

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