Forbes - 10-4, good buddy 👍

CryptoCodex


	Good Wednesday morning. Billy Bambrough here, getting you up to speed with the bitcoin and crypto latest. 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


	Was this newsletter forwarded to you? Sign up here! Got a crypto-curious friend? Forward Codex to them to help get them up-to-date and ahead of the market!

24-hour crypto market snapshot

Bitcoin (+4%)

$38,880

Ethereum (+5%)

$2,712

Avalanche (+12%)

$80.89

Luna (+12%)

$57.82

A false floor? 🪤


	Cryptocurrency prices are climbing this morning after finding a floor yesterday. The crypto sell-off, triggered by the escalating situation in Ukraine, caused only temporary panic but traders and investors are feeling tense. U.S. president Joe Biden has said he's still expecting a full-scale invasion of Ukraine by Russia despite promises of further sanctions. Bitcoin is up around 4% on this time yesterday, despite CoinMarketCap accidentally "deleting" the number one cryptocurrency, with ethereum soaring 5%. Terra's luna and ethereum rival avalanche are leading the major crypto market higher, both up over 10%. Luna's gains are being powered by the Luna Foundation Guard raising $1 billion through a token sale. See below for details. Now read this: Bitcoin’s true colours shine in stampede to safety

When you make a purchase through links in this email, the author may earn a commission.

Unlock Forbes Premium Crypto Articles

Forbes CryptoAsset & Blockchain Advisor grants you unlimited access to in-depth reporting and analysis on the cryptoasset & blockchain landscape. Never hit another locked premium crypto article again and stay up-to-date with the latest opportunities.

For successful subscription, disable your adblocker

Get started for only $29

"Frozen" but free 🥶



	The Canadian government has moved to distupt protesters, freezing assets and clearling blockades AFP via Getty Images

Honk honk: Bitcoin thought to be linked to Canada's "Freedom Convoy" protests over Covid vaccine mandates is on the move despite authorities ordering funds to be frozen, it's been reported by Coindesk, citing data from blockchain.com.

Background: Protesters began using bitcoin to evade Canada's Emergencies Act that allows police to freeze truckers' personal and corporate bank accounts and break up blockades. Over the weekend, Canada's federal government said it had frozen at least 76 accounts linked to the protests, representing C$3.2 million under the emergency measures. Earlier, the fundraising website GoFundMe said it would refund all donations to the movement.

Rolling thunder: The roughly 20 bitcoin, worth almost $800,000, donated via the Tallycoin fundraiser has been traced to two centralized exchanges, Coinbase and Crypto.com, according to Coindesk analysis. However, it reports "it is not clear whether the funds were cashed out for fiat or frozen at those platforms."

What next? It's not yet fully understood how Coinbase, Crypto.com and other exchanges will respond to the sanctions order against protesters but with blockchain sleuths such as Chainalysis and Elliptic able to carefully observe the flow of bitcoin, it's likely the Canadian government will be able to track the funds down eventually. The chief executive of crypto exchange Kraken last week warned centralized exchanges would not be able to resist government seizure demands.

Good to know: Kim Jong-un is stealing crypto to make a bomb

India's crypto ad guide 🦮


	📃 India's advertising authority has released its new crypto guidelines, due to take effect from April 1. 🙅 The new rules require companies to put a disclaimer in their ads that crypto products are unregulated, can be highly risky and there may be no "recourse for any loss from such transactions." The words "currency," "securities," "custodian" and "depositories" may not be used. 🤫 Last year, India's government reportedly decided it had to stop "attempts to mislead the youth through over-promising and non-transparent advertising." India has also levied a 30% tax on any income generated from crypto transactions that have rocketed in the country over recent years. Good to know: Crypto companies are tempting top talent away from big tech to build web3

A $1 billion bitcoin reserve 💰


	💂‍♂️ The Luna Foundation Guard, "coincidentally" sharing initials with the crypto phrase "let's fucking go," has raised $1 billion in a private token sale and plans to establish a bitcoin reserve for Terra's UST stablecoin. The Block has a good write-up of how the funds are set to be used. ✍️ "The UST Forex Reserve is an initiative to provide a further layer of support using assets that are considered less correlated to the Terra ecosystem, initially with bitcoin but with plans to expand to other major non-correlated assets within the market moving forward," the foundation wrote in a statement. 🙌 The raise, one of the crypto spaces largest to date after NYDIG's $1 billion funding round, was led by Jump Crypto and Three Arrows Capital, with participation from DeFiance Capital, GSR, Republic Capital, Tribe Capital and others. Now read this: JPMorgan’s blockchain lead is "GMI" but not at the Wall Street bank

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

Follow me on Twitter or email me.

You’ve received this email because you’ve opted in to receive Forbes newsletters.

Unsubscribe from CryptoCodex.

Or, manage your paid subscriptions on your Forbes profile here.

Manage Email Preferences | Privacy

Forbes Media | 499 Washington Blvd.

Jersey City, NJ 07130

Forbes - 10-4, good buddy 👍

Older messages

Analysts say Novavax may see over $4 billion in vaccine sales this year

Last Chance To Save 50%

Sanctions Versus Russia | Larry Ellison’s Largest Political Gift | Who Hacked The DAO?

The sincerest form of flattery 😳

Russian Cybercrime Fuels US Gang War | Ukraine Under Threat | Surveillance Robot Apology

You Might Also Like

☕ Here’s how to order

SCOTUS hears Trump's immunity case.

Why we’re all Jacobin magazine subscribers

Unstallable Attic

We’re not exaggerating. If people don’t pay for it, journalism will die.

Teens and algorithms

⚡️ Inside the Rise of the Rabbit R1

☕ Deputized

The Great Unknown About Conflicts Of Interest In Arizona’s Abortion Ban

Campus Arrests, Deadly Storms, and the Year's Best Space Photos