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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

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

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

  2. SEC Grants the Approval for Teucrium's Bitcoin Futures ETF

  3. VaynerSports Pass NFTs ARE Sold Out

  4. El Salvador President Cancelled His Planned Participation in the Bitcoin 2022 Conference in Miami

  5. Twitter Founder Jack Dorsey's First Tweet NFT Listed on OpenSea for Sale at 14,969 ETH

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