Forbes - No man’s land 💀

CryptoCodex


	Good Thursday morning. This is Billy Bambrough, here with what's driving the day in the world of bitcoin and crypto. 📧 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 (-9%)

$35,236

Ethereum (-12%)

$2,375

Cardano (-17%)

$0.7577

Luna (-8%)

$52.02

Biting the bullet 😬


	Cryptocurrencies are in freefall with bitcoin and most other major cryptocurrencies crashing back to January lows as investors turn very risk-off in the face of Russia's invasion of Ukraine. Read the full story on Forbes. Traders are in full-on panic mode this morning with the bitcoin price down almost 10%, ethereum down 12% and cardano leading the major market lower with a 17% decline over the last 24 hours. Terra's luna, one of the big winners in recent weeks, has managed to hold up better than most, only sinking 8%. Despite jokes made by some on social media that the Russian invasion will mean the Federal Reserve calls off its planned March interest rate hike—something that would give relief to both stocks and crypto—Coindesk reports that experts do not foresee the Fed making a U-turn. Look out today... for full-year results from both Coinbase and Jack Dorsey's bitcoin and payments company Block. Don't miss: Kraken CEO Backs Truckers And Bitcoin As Defense Against Canada’s Weaponized Financial System

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

Crypto is evolving, are you?

Anyone following crypto knows how volatile the market can be. Forbes CryptoAsset & Blockchain Advisor looks at the universe of viable crypto assets with proprietary analysis and insider crypto knowledge to guide you to the best choices. Set yourself up for success in the new year and learn how to make smart investments on this breakthrough technology by leveraging deep-dive interviews and more to further establish your portfolio and fuel profits.

For successful subscription, disable your adblocker

Join Forbes Crypto Asset & Blockchain Advisor

Buterin V Putin 🥊



	Demonstrators protested against Russia's invasion of Ukraine in Berlin, Germany. AFP via Getty Images


	War crimes: The Russian-Canadian co-founder of the ethereum blockchain and the network's spiritual leader Vitalik Buterin has condemned Russia's "special military operation" in Ukraine, calling the invasion "a crime against the Ukrainian and Russian people." No language barrier: "Very upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead," Buterin posted to Twitter in comments translated to English shortly after tanks rolled over the Ukrainian border last night. "I want to wish everyone security, although I know that there will be no security. Glory to Ukraine." Taking sides: "Reminder: Ethereum is neutral, but I am not," Buterin added. In 2017, Buterin met with Russia's president Vladimir Putin during the St. Petersburg International Economic Forum, with Buterin describing it as "a brief conversation at the end of a private CEO meeting." According to a statement released by the Kremlin and reported by Coindesk at the time: "Mr. Buterin described the opportunities for using the technologies he developed in Russia. The president supported the idea of establishing ties with possible Russian partners." Why it matters: Buterin is one of the strongest voices in the cryptocurrency space. When he speaks, the crypto world listens. While he doesn't have any direct control over the ethereum network, he does have significant influence over its developmental direction. Zoom out: This week we were reminded that ethereum is potentially far more partisan than bitcoin by Laura Shin's report into the 2016 Dao hack that resulted in the ethereum network splitting, known as a fork. "The DAO theft famously and controversially prompted ethereum to do a hard fork—where the ethereum network split into two as a way to restore the stolen funds—which ultimately left the DarkDAO holding not ETH, but far less valuable ethereum classic (ETC)," Shin wrote. It's not hard to imagine ethereum forking again the future to cut off users, developers or projects that are deemed undesirable. The bottom line: Ethereum is often described as a more politically acceptable cryptocurrency than bitcoin, with more potential for control over the network and greener credentials. While no one speaks for bitcoin, it could certainly be said Buterin speaks for ethereum. - Is ethereum left and bitcoin right? Now read this: Crypto, Soros and the global drive to fund a revolution in Myanmar

Japan's MUFG pulls the plug 🔌


	🏦 Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank, is shutting down its blockchain payment network project due to slow growth. The Block has a write-up. ⛓️ MUFG blamed "slow growth of payment transaction numbers" as the reason for the shut down as the financial industry continues to search for a solid use case for blockchain. 💁 Earlier this week, JPMorgan's blockchain Christine Moy quit the bank to pursue "an external opportunity," according to a Bloomberg report. Good to know: More than three-quarters of family offices surveyed by BNY Mellon see benefit in crypto

	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 - No man’s land 💀

Older messages

Welcome To Checks & Imbalances | Investigating Money In Politics

GSK Unveils Haleon | Walmart’s Vaccination Efforts | Cerebral Refund Issues

You're Invited To Forbes Checks & Imbalances | Investigating Money In Politics

Lululemon’s Sale Section Is Full Of Great Deals Right Now

6 Of The Most Popular Items Trending Now On Forbes Vetted

You Might Also Like

Bummed Out Bobcats, 1 Million Pushups, and a Zoo’s Festive Feast

Flame Wars

Dancing vacuums, AI dogs, and more from CES

California wildfire must-reads from our climate editor

Gates, Ballmer, and other Microsoft alums remember Mike Maples Sr.

☕ Bold fashioned

Everything we got right and wrong in 2024, Part 1.

Traitors Secrets, Jon Ronson, and the Flywheel of Brand

GeekWire Startups Weekly

Frostbite Flute