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	Happy Friday! This is Billy Bambrough, 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.


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24-hour crypto market snapshot

Bitcoin (-4%)

$41,832

Ethereum (-6%)

$2,752

Solana (-6%)

$93.54

Avalanche (-1%)

$81.05

Pay packet 💵


	Cryptocurrency prices are falling this morning, dropping along with stock market futures that plunged overnight as Europe’s largest nuclear power plant in Ukraine came under attack by Russian forces. The bitcoin price has dropped almost 5% over the last 24 hours as the debate over the use of cryptocurrency by sanctioned individuals rolls on. Ethereum and one of its major rivals solana are leading the crypto top ten lower this morning, both off by around 6%. Terra's luna and avalanche continue to be the major market's strongest performers, each down just 2% on this time yesterday. Look out today... for the U.S. February jobs report landing this morning, with analysts forecasting the U.S. economy added some 400,000 new jobs last month. Meanwhile, the U.S. Labor Department's closely-watched employment report is out this afternoon. The report is expected to show average hourly earnings rose by 0.5% in February, pushing the year-over-year gain to 5.8%, according to Bloomberg. An uptick in wages could signal spiraling inflation and is likely the more important of the day's data to the Federal Reserve, which is poised to raise rates by 25 basis points this month. Fed chair Jerome Powell said this week it will do whatever it takes to control inflation. Ouch: Turkish inflation hits a 20-year high of 54%

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Sanctions spreading 🦠


	User non grata: Users of non-fungible token (NFT) marketplace OpenSea and MetaMask, one of the most popular crypto wallets and web3 interface tools, have reported being unable to access services in Iran and Venezuela respectively as talk of sanctions spreads. Read the full story on Forbes. Landlocked: An OpeanSea spokesperson told Forbes: "OpenSea blocks users and territories on the U.S. sanctions list from using our services—including buying, selling, or transferring NFTs on OpenSea—and our Terms of Service explicitly prohibit sanctioned users or users in sanctioned territories from using our services." Unmasked: MetaMask's Venezuela problems have been blamed on Infura, a developer tool used to build decentralized applications such as trading platforms and games, which has restricted access in the country. The Block has a thorough rundown of the situation with MetaMask in Venezuela. Why it matters: Prominent cryptocurrency exchanges and service providers have this week come under pressure around the world to do more to restrict access to Russian billionaires and oligarchs that have been hit by international sanctions. Strong-armed: Coinbase chief executive Brian Armstrong has laid out his thoughts on whether crypto can be used to evade sanctions. "Every US company has to follow the law—it doesn't matter if your company handles dollars, crypto, gold, real estate or even non-financial assets," the controversial CEO, who in 2020 banned political discussion in the office, wrote in a Twitter thread. "Sanctions are a complex issue, and the situation is changing fast, so we’ll keep working with law enforcement and governments, and will take more steps as needed." Now read this: Cryptocurrency is no fix for Russia's sanctions woes

Soccer 🤝 Crypto



	Manchester City, the reigning Premier League champions, announced a multi-year agreement with crypto exchange OKX. Getty Images


	⚽ U.K. Premier League champions and the world's sixth most valuable soccer team Manchester City are the latest sporting giants to dive into the world of crypto, signing a deal with OKX, the second-largest crypto exchange by derivatives transaction volume. 🥅 Financial terms were not disclosed, but a source told Forbes that the deal with the club is in the multimillion-dollar range annually and will see OKX logos splashed across the in-person teams as well as Man City's esports operations. 🚫 However, critics were quick to point out that the Seychelles-based OKX's crypto derivatives have been banned in the U.K. since late 2020. Tether follow-up: Swiss City of Lugano to make bitcoin and tether 'de facto' legal tender

	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.

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